Registered Charity number". NIC 103806 HIIIRC numbcr: XR67448 The South American Mission Society Ureland) Trustees, report and financial statements for the year ended 31 December 2Q23
South American Mission Society Oreland) Contents Page L¢gal and administrative infonnation Trustees rcport Indcpeiident examiners, report Statenieiit of financial aclivilie5 BalanLe slieet Cush flow Stsiemenl Noles to the financial sl&lements 9-15
South American Mission Society (Ireland) Leg21 and administrative information Charity number 103806 (HMRC Ref.. XR67448) BusRne55 address I Invin Crcsccnt Lurg County Artnagh BT66 7EZ Trustees MT Noel Boyd Ven. Elizabeth Calms Rev. Dorothy Dunwoody Mrs Judith Finch Rt. Rev. .4ndrew Forster- Chairperson to September 23 Mrs Helen Groves (from September 2023) Rev. Graham Hare (from September 2023) Mrs Atison Hutcbillson Rev. Pelci Joncs- Chai4)erson From September 2023 Rev. Mark LenDox Rev.St¢phen McElhinney- Mission Director Mrs Gillian Lyiiii- Admiiiislrnlor Miss Claire Holm¢s- Mission D¢velopment Officer Miss Julie Allen- Admfftnistrator (to September 20?3) Accountants Daly Park & Company Ltd 4 Carnegie Street Lurgan County Amiagli BT66 6AS Bankers Ulster Bznk 14-16 Markct Stteel Lurgan Co ArnMgh BT66 6AP
South American Mission Society (Ireland) Report of the trustees for the year ended 31 December 2023 TIIL. ti'uslccs present Iheir-IriislLes' Annu.Il Rcport. combining Ilje Dii"LLtors' RLporl ilnd the TrustLLS' Rcport tinder Ilic CharitiLs 8ORP in aCLordanLc iirith Accoiintiiig and RLporting by Clirtirities '. St1L Icment of ReLoinmLnd¢d PiaLtILL appliLJblc to iharitlis prcparTnu tliiir aciounts in aLLordance ivith the Fin<inLial Rcportin(T St&ind4ird appliLablL in thc LK and RcpiibliL (If Ircl<ind (FRS I Oti i {LffLLtivc l January ?111 i) _ liaritlC¥ SORP IFRS I (I?)). Il)c FinanLl411 Repcinin¥ Si'indiird iippliLciblc in the UK RcpubliL of Ir¢lJnd IFRSIO?). and thc Chai'itie {Il¢¢oiints and Reports) ReoLilations (Noltliem Ii'elJndl ryO15. Tlie trLlStces who SerVL diiring thL yC&lr and LIP to the datc of Ihis riport are ser oiit on pogc one. Slrueture, governance and management sAIs (Ir¢landl i& an uninco]POl'£lted charily ooverncd by its Lonstitulion. -l-he cliaiity woi"k.s iyith tlie LhiirLh in South AnicriLa aiid in fell()ii'sliip willi tlic 'CN4S iiitLmaiional Iielryvoi'k. {forineily tlie SAMS Ii)iei'i)aiioi)al nctwoi.kl of Aiiglican_kli55ioii Agencies. The chariiy was fegisicrcd wtth the Charity Loftunissio&i foi. Northern Ir¢land on ?8, October 2015. Tl)e Geiieral CouiiLil aiL c1ccd iFiennially aL the ,4GM of the Socict!.. ?n22 was not <7 lrieiiiiial y&ir wlien electioiis were held. All metnbers miist retire after their three- year appoinlineiit but are eligible foi" re-election at tliis time. The Coiincil is elecled L)y ihr tnLmbL"Es of the charity. MtymbLhip is opcn Io 2111 i¥ho ali mcmbcrs of (l)c CliurLh of Ireland on (lie coiidiiiul) Ihai ili¥y liavc niade a coiitribution to tliL cliarily diiring (he previous caleiidar year. The charity is under Ihe coiitrol of the General Council. TtiL Gciieral Council nicLI al Icasl livice p¢r ycar. Purpose, objectives, aetivities and value5 Oiri- Piiipose apid Yision.. T])e great Cotnmission fulfilled ii) Souili America Oiip-Mis.sioii.' Tlie charity's main activities focus on Ihe proclani?tion of rhe Gospel 4lnd the buildinu up of Cliristl4lTI ChiircliLS ihrouglioui Ili¢ w'oTld bLII primarily in South Ainerictt_ Objec'li)'e.s rtiicl uLlii'ities." The South Ainerican Missioii Society Ili'elaiid} is a Lonimiinily of peoplL iii mi%.s1011 obcyiiiq the call of God. to proclaim the L&l11 ot God. to proclilllTI tl)e gospel in all pldles <iiid to driliv pcupILS iiilo Icll()N*51)ip ii'ith tl)L Loi"d Jesu5 Christ. Tlic chai'ity is also soincliii)cs knÉiwi) a.s SAMS Ilrllaiid) oi. SAiWts. Oiii" p./LILY.. lil relaiioiishtp to God. Ills word and the human lamily, the chariry alwavs aspires lo hold to thc values of: Biblical missioii A fainily led by thc Spirit Engaging EmpoiverinL Kin(vdoin principles ExcellLiice isi all Ihiiius PiiblFI' BcFi¢Jir SIlMS Iiclaiid believes (lial tlic Christian faith is of bciiLfir to society and iiidividujls brillging tt visioii of ti'&nsformaiii)Ti for pt'aLL and SOCi<ql hiimioiiy whicl? groivs fron) Ivha( Christianb believl is God's uliiin¢ilL PLirposc tu bl'ing all ihing5 into iii)il)' aiid PLifLclion in JL5115 Chiist. KIos1 people cil"e likel J. (o beconie disLiples of Jesus Chrigt if Chi'istiai)s 'live a c.hrist-like life aiiiontss¢ them, share the good nei¥s ot Jesus, denionsliale God's loipe ai)d prayertully expect tlie spirit'.s poii'er io Irajisfonn individuals: eoinniunities and iTr'liole Natioiis" SIIMS Ireldi)d SLLks lo dcmoiillrcilc il?15 benefRI though Trls mission 41Clii'ilie.s in .%ouih Aniericg. Iberi41, 4111 nf Irel4lnd <2nd Great klritain.
South American Mission Society (Ireland) Report of the trustees for the year ended 31 December 2023 Introduction The following report provide5 an overview of the achiev¢ments and perforniance of the South Amcricatt Mission Society Ireland during the year 2023. Throughout the year, SAMS Irelatsd continued its mission to work in partnership with the local church in Ireland aiid various countries in South America. particularly in Argentina, Chile, Bolivia. Paraguay) Uruguay, and Peru. The 50Clely remains COEnmitlcd t(> fostering eaningful relationships, focilitating mutual support, and advancing the trospel of Jesus Christ through pracli¢al QndVoUrs. Achievements and performance Annual ¢ouf¢renc¢ Friday Night Live Relocation-. The relocalion of th¢ Friday Night Live event to Ann8ghmore Parish provided an opportunity for enhanced collaboration and fellowship. The ¢v¢nt themed "Enlarge attd Expan, was well-re¢eived and strengthened ties to rrtission in South America as well as welcoming scveral Chilean clergy. 2. Mission Director Visits= The Mission Director'5 Visits to Peru, BDlivia. and Chile io February atsd March marked the ree¥tablishmenl of vital links following disruptions ¢aused by the pandemic. Face- to-face interactions emphasised the importance of personal relationships in gospel mission. 3. FUSION Volunteer Program.. SAMS bid farewell ro a valued volunteer from Paraguay who ivas based in Sligo while welcomÉng a new volunteer from Chile who has been volunteering in Lisburn (Connor Diocese). These CODne¢tions serve as a bridge b¢ttveen Church of Ireland parishes and overseas churches, fostering mual under51anding and suppo Tribute to Retired Treasurer: Tn March, the funeral of rettred Southern Treasurer Felix Bleiinerhasscli setyed us a poignaTtt rcminder of the dedication. Faithfulness atkd sacrifices made by volunteers in rtherIng the society's mission. Indigcnous Church Network-. The Mission Development Officer's (MDO) contribution to the fomiation of an Indigenous Church Network in s?th America via Zoom underscored SAMS, commitment to empoweri1 local conimunilies. 6. Sunday School Resoutce Developrnenl.. SAMS MDO collaborated with Penny de Marces in Peru lo develop Spanish Sunday school resources, enrichtng cducalional opporiunittes for church communilTes. 7. Church Meetings In Ireland.. SAMS representatives Iravelcd to various chwch meetings in Ercland. offering encouragement and support to local congTegatioiTrs engaged in mission actt'vities. 8. Membership in Association of Mtssion Soeieties= SAMS demoiistratcd its commilmcnt to the wider church by rnaintaining evolvernent in the Association of Nlission Soci¢ties (AMS), participating in events such as the Chui'cb of Ireland General Synod in Wexford. Diocesan Links.. SAMS Helped lo facilitate the development of new dioee5an links betwcen Santiago Diocese, Chile, and Down and Dromore Diocese. here in Ireland, fostering mutual learnin8 and collaboratiorA. We ar¢ deeply grateful for those who serve on General Council (trustees), in a Volunt capacity giving their lime. wisdom and energy in the cause of mission. Bishop Andrew Forster, wlio continues as a truslcc. r¢tired as chair of ihe SAMS Council and was succeeded by Rev Peter Jones in mid 2023. Mission Director, Rev Stephen McElliinney continues in his role. As SANIS Administrative and Commiinications Coordinator, Mrs Gtllian Lynn returnrd from maternity Icave in August 2023. We were grnteful for th¢ scrvtC¢8 of Julic All¢n who has assisted during the nialernity pettod. Both staff and Coiincil are thank1 for Mr Phil Tadmaii who provide5 valuable and diligent oversiglit of Ihe finances of SAMS Ireland. Billy Blair and hts wife Laura coiitinue lo open their hearts and home to SAMS volunteers from South Am¢rica. SAMS Ireland has an inlcrgeneratioiial feel to it with a strong support base in mdThy local churches and generous prnying individual supporters. Finally, tg all wlio have served and who are serving in tlie SAMS Ireland falnily we say a very sincere thank you.
South Ameritan Mission Society (Ireland) Report of the trustees for thc }ear ended 31 December 2023 iin.IncixI revieiv The ch31iry's fijnds uicre2sed by £31,704 during 2023 tolloiving a d¥CIC8Sb of £4? ?iJ durLn¥T 2092. Th15 Was prim}rI1. duc lo the irycicast of Eesrriknted fvnd5 in ?023 atsd ihc incTea5e in the ¥ilue of the ir&i'¢smient LITJits bv £ lo, l ?0 dutinE ?023, follo'.ving Ihe decreasc io value of£??,696 CAperienc¢d In ?02? As can be fjeci) froni Ilie aniiiial atcoiinls. Lof31 tiicolli¢ and L.IpcndihEre wer- boili less in ?0?3 tliaij tn 202? lioivever, the rcslTiciEd 7Dcome was 17/4 up, but the reslri¢tcd txpciiditure was doivn by 44/0 compaied lo ?02? for YkTiOUS reasons. This rne3nt that in 20?3 Ihcsr ivas nci unTestElCtcd fiind expeTrdiliire of£15,976 and nei iestricted income ol £31.>60, ex¢ludinb? the iinrealised gain tstt rlle value of the itsvesimcnt Jni15 Tlic LTaii) on Ihe v31u¢ oltlie inye5tn)enis exceeded the llet llnre$tri¢ted fund expttjdituie by £144, 11.iuch W¢75 an eii¢ouratsuig endorsem¢nl of expettdilure comrnitrllcnts ITh 2023. As yoii will 6¢¢ from the accounts, we give tha]ths Ihat tbe work of the eh3rily ivas nol r¢siric&ed by financial pros'i5iDn during 2023. As we look aliead arÈd give iknnks. Ive go fonvard awarc oFour depeftdcnce on God. and hi5 people. the cliur¢h, foi Ilie finaii¢ial provision lo enable Ihe ¢liaTity to fulfil its puryose and mission_ RésÉ1-VES Policy The charity opeie5 a rcserve5 policy v4htteby ihe rru5rees aim ro hold 3 minirnum oFsix inonlhs of thc previous yeai's eKpeiidiiure as unrestricled rtsttryrb. to ensure the Charity cali continuc its rnt5Stoi) and activities In th2 ev¢nt of svmc iinforcscen d-'fftcultv. The reseryes policy inle8r81 pwrr of ihc charity'$ plxnntzig. Th. Trust¢ets have lh¢ power to inveft in sucl) a%se15 Fis tl?ey see Iii. Inve51mentdecisions a based tsii low risLJhigh ityttlrn ad are madL w&ih ihc inlertS15 of rhc charity iii miTrd. Thc chaiiiy 50mcFnes needs to rcaci qlllCNIy 10 pai-[TciIIr siluaiiofts iryijd has a poliY of keeping Jdcquate suxplks Iifjlljd Fuijds iji shoj I term dcposiis. i%,IIicik elin b¢ acce$5¢d readily. Tlie twslc¢s cur1]Y rttaiii £130.000 in Ilie COIF Charities IIiv¢srm¢iil Fuii(L managed by CCLA Envesiment nianageis, the value of ivbich was £188,65) at 31 Decembet 20?3 (?022.. £L7? 5331. Statement of trtlStees' respon5ibilitiC5 Thc ttusttcs ate Icsponsible for prtpat5tkg thc TrusteC5' mal Report ond dic fitiancial stat¢mlt5 i accoidanc¢ with applieabl¢ law and biiited Kingdon) AccoLinting sndards Iuniied K41)rt41oin Geuerally -4cccpiL'oI IFTrIllIg Praciicc>. L&w applicable to charitie5 ii) Northern Irelènd reqT2if¢5 tbe twsiees to prepare fina11¢1215taienie4i1i for eacli Iinancial veal wliich trTve a [e and fair i'ieiN of chJritr/ aFtd of Ihe Incoming resourc¢5 #lld iE pplication of ic50ufLes of tlie chtsrjl), for ih21 vear. In prepaTin8 Ihe5e financtal $14terneiils Ilie Ituslees reqttired lo. %&lLcI suiiablc accouniing policits 2nd then apply Iheni consistcnil}.- obsenre ihe metho<Is dnd prin¢iplcs in thu arItieS SORP. nidke]lldgemeiJis aiid esiimA1¢5 that are reJsonabl¢ dft(t PtudBnt: sraic ivhcihcr Ihc ChJTirits SOtiP (Updated January ?0151 has been ftsllow¥iL 5ubjecT to aiiy tnateTlal depaThuces disclosed atsd explaii?ed ill the financiBI staremejits. and piepare tli¢ finsncial statements on the going conceffj basis unless li 15 inappropriate to prcsume that the ch&rity will continue in operalion. The trustces &rt rcsponskblc fpr k¢eping proper accollnting Tecords which disclose with reasouabl¢ accunc) It any time the finarscial posirion tsf ihe chÈriry and enable IlJen1 fo ensur¢ tliÉit tile fJnaocii¢1 statomcnis cornply willi applicablc law. Tliey arc also respoTrsible for safeuuaroing the ic ssets of Ihe¢h4ryTily aLid:)eiicc for iakijits reasonable Slcps for Ihe prevenlioii and detection of fraud 2nd other uregularilies O¥J b-half of Ilie board PclLrJoncs Ti-ustee Mark Lenno. Trustee
South American Mission Society reland) Date: 20 May 2024 Independent examiner's report to the truslees on the unaudited financial statements of South American Mission Society (Ireland). I Iiav¢ ¢xxniined the financial statements of the tharity for the finau¢ial year ended 3 1 D¢cernber 2023, which comprise ttLe Statement ofFinan¢ial Aclivili¢s (in¢orporatiug an Income aiid Expenditure Account), the stateettI of Chsh Flows. the 3alJn¢e Sheet and the related notes. Respecfive re5pon5ibilitie5 of trustces and ex2miner The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northcm Iteland) 2008. Thc ¢harity'3 trusttts consider tliat an audit is not r¢ouir¢d for this financial year wid¢r th¢ Cbariti¢s Act {INoMhern Ireland) 2008 and th81 independent exainination is required. It is our responsibility lo: examinc thc financial statements under section 65 of the Charities ACL follow tl)¢ proc¢dures laid down by thc gcncral Directions given by the Charity Commission for Northern Ireland under s¢¢tion 65(9Mb) of the Cliaiities Act: and stale whether particular matters have come to our Lttenlion. Basis of independent examiner's report I have examined charity's financial statem¢Rts as required uThd¢r 5fxlion 65 of the Charities Act and our examination was Carricd out in a¢eordaTree with ihe general Directions fAiven by the Charity Comnisssion for North¢rn Ireland und¢r section 65{9){b) ofthe Charities A¢t. kn examinatioo includes a review of the accowiting records kcpt by thc Company alld a COTnparison of the findncial statements presented with thots¢ rrfoids. It tt1s0 inGludcs ¢onsidetaiion or any unusual items or disclosures in th¢ financial sl4t¢m¢nts and seeking explaiialions trom the trustccs ¢onccrning any suLli malters. The pro¢edure5 undertaken do not provide all the evidence tliat would be required in an audit and ¢onsequently no opinion is given ab to whether tlie accounts present a 'trne alld fair. view and the report is limited to thos¢ fflatler5 Set out in the Statement below. This r¢port is made 801ely to the charity trnste¢s, as a body, in #ccord2nce with the Chariti¢s Act INorth¢rn Ir¢laDd) 2008. Our work has been undertaken so that we might ¢ompile th¢ financial statements that we have been eiigaged to conipile, report to the ¢harity'S Board of Tntstees that we have done so. and state those mattets that we l?ave agreed to stale to them in this report and for no other purpose. To rhe filllest extent pern)itted by law, we do not accept or assume responsibility to anyonc other thAll the charity and the chariry's Board of TNst¢es, Js a body, for ourwork, or for this report. Independent examiner's statement In Connection with oiir exan)inaÉion, no ltter has come to our attention IKhich gives lis cause to believe that in, any materkal respect.. -a¢counting rccords were not kept in accordaiice with seclion 63 of the Cbarities Act -the fiEJan¢ial stat¢Enents do not accord with those accounting rccords -the finanoial statements do not comply iv&th the accounting requirements of the Charities Act -the financial statements have not been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their Ac¢ouots in ac¢otdanc¢ with the Fitwicial Reporting Standard applkcable in the UK and Republic of Ireland IFRS102) -there is further infonYJatioM needed for a proper undetstsnding of the accounts to be reached. Wc have no conc¢rn$ and have Come across no other mattets in conne¢tion with the examination to which attention should be drawn in this report in ord¢r to enable a proper understanding of the fllianciRI statements to be reached. Rusiri Maginn Daly Park & C mpany Ltd Chartered Accountants 4 Carnegie Street Lurgan BT66 6AS Date: 20 Mav 2024
South American Mission Society (Ireland) Statement of financial activities For the year ended 31 December 2023 Unrestricted Restricted funds fund5 2023 Total ?0?? Total Incoming resources Incoming i'esoiirc¢5 from gcnLrating funds.. Vf)luntary iiicome Activities for gei)eratiiig 1Th(L Invcstmcnt income Other Incoming rcsources 98,715 4,013 7.557 600 79,698 178.413 4.013 7,557 186,525 2,068 5,480 Total incoming resources 110.885 79,698 190,583 194,073 Resource5 eipended Cosis ofgeiiei'atiiig funds: FLindrJisinu: cost of (Tood% sold Ilnd other costs Charitable aitivities Support costs 2.367 123,206 1,288 1.17? 211,125 1,333 48,138 171,344 1,288 Total resources cxpended 126,861 48.138 174,999 213,630 Iyet incoming/(olltgoing) resources before Iran5fers (15,976) 31,560 15.5114 119,557) Ti'an.5fers beiween tunds Net incomingl(out%oing) resources for the year before other gains {15,976) 31.560 15.584 (19,5571 {Loss}IGain on investment assets 16,120 16,120 {22,696) 'et movcment in funds for ve8r l44 31,560 31,704 (4? ?53) Tolal lunds broLiglii fonvard J56.041 ?06.991 563,03? 605 ?85 Tot21 funds carried fonvard 3i6,1.85 238.551 594.7J6 563.032 The statemeiit of financial activilics tttcludcs all gain5 and Iosscs in the ycar and tlierefore a separate sl¢ir¢ment of Ilie lotal i-ecogiiised gaiiis attd losses ha% not beeii prepared. All ol- IhL abuve ainounts relate to conliiiiting activities.
South American Ivfission Society fjreland) for the year ended 31 Decembor 2023 B3lance sheel at 31 December 2Q23 2023 2022 Note5 FixL.d 855ets Invesmiejits TangiblL IE 55LIs' Current 955ets Dcbi(?t5 Casli al blink and in Iwd 12 13 188.6)3 1?0,165 172,533 1?1.143 14 22,83? ?6B,584 13,246 766.9 l j 291.416 280,161 Creditors: amounts falling due within one year 15 {i.498) (10,805) Plet current assets 5.918 Net dSSQt5 Funds Resliicied incom¢ fuiid5 Unre5tTicled incomc fi]Dd5 17 18 238.5il Y06.991 Total funds Th¢ financial stotcmcnrs wcre opproved by the Iru51ees OD 20 ?024 and 5ign¢d on ils b¢liaifby PL.ter JoThes Trustee Mark Lennox Trustee
South American Mission Society (Ireland) for the year ended 31 December 2023 Cashfloiv Statement For the year ended 31 December ?023 2023 2022 Cash floivs from operating activities 25,097 -12,121 Adjustments for.. Dcprccftation 978 978 24,119 -13,099 Moveinenls in worktng capital: Movemenl in DcbLors 9,586 10,518 Movement in Creditors 5,307 -4,2l6 Cash Generated froln Operations 9.226 -19,401 Cash tlows from investing activities Interest received 7,557 5.480 Payments to acquire tangiblelinve5tment asset Net casli generalcd from investmenl activitics 7,557 5,480 Net decrease in cash and cash equivalents 1,669 -24,881 Cash and cash equivalents at 01 January 2023 266,915 291,796 Cash and cash equivalents at 31 December 2023 268,584 ?66,915
,South American Mission Society (Ireland) for the year ended 31 December 2023 Accounting policies The principal accounting policies are summarR5ed below. The accounting polictes have been applied consistently throughoul th¢ }'ear. 1.1. Basis of Preparation Tlie financial statements have been prepared ITh accord]Ce with Accounting atjd Reporti13g by Charitie5: Ststement of Recominended Practice &pplicable to charities preparing their accounts in accordance wtth the Financial R¢porling Standard applicabl¢ in the UK and Republic of Ireland {FRSI 02) (effective l January 2015) (Cbarities SORP (FRS102)), the Fiiiancial Reporting Standard applicable in the UK and Repiiblic of Ireland (FRSI02). the Companies Act 2006 and the Lbarities (Accounts and Reporis) Regulations (Northern Ii'eland) 2015. In preparing the aecounls, the Tru51ee8 have cotisidered whether in applying the accounting policies required by FRS102 and the Charities SORP the reStatnellt of compasative ktems was tequired. 1.2. Incoming resources All incoming resources are in¢lud¢d in the stalem¢nt of financial activities when the ¢harity is ¢ntitled to the illcome and the amount Can be quantified with reasonable ac¢ura¢y. The following specific policies are applied to rticUlar categories of illcome= Voluntary in¢orn¢ Ès receÈved by way of grants, donations and gifts and is included in thll in the statement of financiil aclivil?es when receivable. Grants where entitlement is nol eonditlonal on the delivery of a speckfic perfom]ance by th¢ charity, are recognised when the chan.ty becomcs unconditionall) entitled to the Donated services and facililics are included at th¢ value to tli¢ charity where lliis can be quantified. The value of serviccs. provided by volunieers bas not been included. Gifts donated for resale are included as incoming resources within activities for gener&ting funds when they are sol Inconie from iThvcstm¢nts is included in the ye4r in which it is receivable. Legacies are included when the charity 15 advised by the personal representative of an estate that payment will be made or prop¢rty trdnsferred and th¢ amount involved can be quantified. 1.3. Resources expended Expenditure is recognised on all accrual basis as a liability is incurred. Expenditure InCldeS any VAT whtch cannot be fully recovered, and is reported as part of the expenditure to which il relates. Costs of generating lld$ comprtse the costs associated with attracting voluntary income. Charitable expenditure Gomprise5 those costs incurted by the charity in the d¢liv¢ry of its activities and services for ils beiieficiaries. Ti includes both costs that be ¥4llocaled directly to such activities and those costs of indirect nattire necessary to SLTPPOrt them. FLEndraising costs are those inCued in seeking voluntary ¢ontributions and do not include the costs of disseminating information in support of the charitable activitics. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include projerl management.
South American Mission Society (Ireland) Notes to financlal statements for the )'ear ended 31 December 2023 1.4. Tangible fixed assets and depreciation Tangible lixed as.%Lts are staicd ai cosi Icss accumulated depreciation. Depr¥CiaiiOM is providcd at rutes calculated to ivriie ol-f the cost less I'esidual value of each asset oi'er ils expected use1 life, as lolloiit Lcinil and biiilLlings Conipiiier Equipiiient ReviluLd Lviry 3 years 33._) /0 per annuin oli a slraigl)t-line basis 1.5. Defined contribution pension schemes Thc peiisioi) costs chai'ocd iii tlie fiiiiincidl staremcE115 represent rhe coiitribution payjblc by th¥ charity dui'iiig rhc yvar. Voluntary income Unrestricted funds Restricted funds 2023 Total Doniilions from churclies I chariLie¥ DonatlOllS trom othei oraaiiisations Donations Irom indiiiiduals Gift Aid on donations Legacieslother donatioiis 57.70C) 27.945 85.651 3.120 80.056 9.586 31.423 9.586 48.633 98,715 79.698 1711.413 Activities for generatillg funds Unrestrieted Restricted ftunds riinds 202.1 Total Evcnts income- Friday nitsht lii'e 4,013 4.013 4,013 Investment income Unrestricted fund$ 2023 Total Incoine from invesiiTkeRL5 7,557 7.5>7 7,)57 7.557
South American Mission Society (Ireland) Notes to financial statenients for the year ended 31 December 2023 Other Incoming resources Unrestricted UDds 2023 Total Grants received Exchange rate gain Property revalued Oth¢r income 600 Fundraising and trading costs Unrestrlcted Restricted funds funds 2023 Tot41 FEEndraising events Inveslmcnt management costs 2.367 2.367 2,367 2,367 Costs of ¢harit2ble activities- by fund type Unrestricted Restricted funds funds 2023 Total Charitable activities 123,206 48,138 171,344 123,206 48,138 171.344 Support costs Ullrestricted fund5 Restricted funds 2023 Total Professional-Accountancy fees Trustee exp)Se5 Cost of trustecs, meetings Insurance- ie fees 1,200 1,200 88 88 1.288 1,288
South American Mission Society (Ireland) Notes to financial statements for the year ended 31 December 2023 Gains on investment assets Ini'estTnent costs 2023 Total c.ost of investnient- April 2014 co.st of investment- Deceniber ?018 Cost of iiiveslmenl- Jun¢ 2021 60,000 40,000 30,000 60,000 40,000 30,000 Value of iiivesimenl - 31 De¢embcr ?022 188,653 172,533 Goiii in valu 58,6_$3 io. Employees Emplovment costs 2023 2023 Total Wage5 a]Id salaries (including Employer's ND Employer pension scheJn¢ Lontributions 78,368 85,812 No employee rcceived en)olumenL8 of more than £60,000 (2022: None). Number of employees The liverage moi)Il)Iy iiumbcr of cmployees diiring thu year. ealcul4lled the biisis of fiill-iinie eqiiiFalenl5, vas as follows.. 2023 Total Support Sttff { I full~tim¢, 3 part-timcl 11. Pension Costs 'rhe Lliiirity pfoiiides a dLfilled conlribiltion pension sclieme ii) respeLt of its emplovL'e%. -rh¢ sLlieinc ui)d its d4SLis' are held bv indepeiideiit InaiiagLIs. TPT Retii"ciMciil Solutions. The pension cli&rge iiicludes pa&.'meii¥s to that sclienie aiid to the clcrey schcme, plu8 other contribuli0115 paid by the charity as folloivs-. 2023 P¢nsioii charge{includiJ]g etnployci and eniployee contributions)
South American Mission Society {Ireland) Notes to financial statements for the year ended 31 Deceniber 2023 12. Investments The trustees purchased £60,000 worth of units in the COIF chariti Investment Fund 011 8th April 2014, £40.000 units on 20, December 2018 alld another £30.000 worth of units on 3rd June 2021. The valu¢ of th05¢ uiiits was £188,653 al 31 December 2023 {202?= £172,533). L&Dd and buildings frechold 13. Tangible fixed assets- Buildings for use by charity Total Cost or valuation At l January 2023 Revaluation 120,000 120,000 Ai 31 December 2023 120,000 120,000 Net book value At 31 December 2022 120,000 120.000 The property was revaliied in 2021 following discussions with the ind¢pendent examiner. The above valuatton was agreed by die Trustees at il)e Gen¢rdl Couftcil mecting held on 20th May 2024. Tangible fjxed assets - Computer equipment Diiring 2021 replacement IT equipment was purchased al a cost of £2,917 . The equipment is expccted to havc a life of at least three years. A depreciation chaige of£978 was Tnade foi 2022 (?022'. £978). 'Ihe Nel book value of Ihe computcr equipmtni at 31 December 2023 ivas £165 (2022.. £1.143). 14. Debtors 2023 Debtors and prepaymcnts Is. Creditors: amounts falling due Ivithin one year 2023 Accrllals aftd defeed income 16. Analysis of net assets between funds Unrestricted Restricted funds funds Total funds Fund balances At 31 December 2023 as represented by.. Investments and Tangible fixed assets Ciirrent assets Current Itabilities 308.818 52,865 (5,498) 308.818 291,416 (5,498) 238.551 356,185 238,551 594,736
South American Mission Society Ureland)
Notes to financial statements
for the year ended 31 December 2023
17.
Restricted funds
.4t
l Januarv
2023
Ai
31 Dee¢mber
2023
Incoming Outgoing
resources
resources
Tr&nsltrs
Restricted FuiiLIs
?06,991
79,698
(48.138)
?38,jj I
Purposes of restricted funds
The i'estricted thnds at th¢ ye8r
South American Mission Society (Ireland) Notes to financial statements for the year ended 31 December 2023 19. Approval of A¢¢ounts Thcse accounts were approved by th¢ Board and authorised for issuc on 20th May 2024. 20. Trustee Remuneration Tlie trustees did not receive. nor did they waive. any temuiieralion during the current financial year. (202J - £tiill. 21. IndependeNt Examiners Remuneration The independent examiners, Daly Park & Company Ltd, received an independent exaznÈnation fee of £1200 inclusive of vat For their professional work { 2023 - £1200).