Logos Mlnistries International Statenient of Flnaiic121 Activities foi. the year elided 31 Decenibei. 2022 2022 Total fuiids 2021 Total nds Unreslricled fund Restricted nd Notes INCOME AND ENDOWMINTS fROM Donatioiis and legacies 331,629 69,410 401,039 366,354 Oilier ti-ading activities Investmeiil income 1,810 270 102 102 Total 331,731 69,410 401,141 368,434 EXPENDITURE OIY Raisiiig funds 12,389 Chai'itable activities Charitable activities 335,936 75,019 410,955 415,163 Total 335,936 75,019 410,955 427,552 NET INCOMEI l{EXPENDITURE) (4,205) (5,609) (9,814) (59,118) RECONCILIATION OF FUNDS Total funds brought foward 509,842 14,313 624,155 683,273 TOTAL FUNDS CARRIED FORWARD 505,637 108,704 614,341 624,155 The notes foi'iii pai'l of these finaiicial stateillei)¢S Page 10
Logos Ministries International Balanee Slieet 31 December 2022 2022 2021 Notes FIXEI D ASSETS Tangible assets 14 304,587 318,266 CURRENT ASSEI TS Debtoi Cash al bank Èuid in liand 15 10,331 305,681 16,231 296,232 316,012 312,463 CREDITORS Aniounts falling due witliin one yeai. 16 (6,258) (6,574) NEI T CURRENT ASSEI TS 309,754 305,889 TOTAL ASSII TS LESS CURRENT LIABILITIES 614.341 624,155 NET ASSII TS 614,341 624,155 FUNDS Uni'estricted funds Restricted fidS 18 505,637 108,704 509,842 114,313 TOTAL FUNDS 614,341 624,155 The ial stalem¢nts were approved by the Boaixl of Trustees aiid autlioi'ised foi. issue and were signed on its belialf by.. on Tiust¢¢ The note5 foim P<lrt of these fillicIal sliilciDeiits Pagell
Logos Mijiistries Intei'iiatiojial Notes to the fi inancial Statelnents foi- the yeai. elided 31 Decembei- 2022 GENERAL INFORMATION Logos Miiiisti'ies Iiiternational is an evangelical organisation dei'ived froni a Declai'ation of Tiiist Deed dated 5 Oclobei. 1981 in the naine of 'The Yoiiih Evangelical Missionai'y Fellowship,. Logos Miiiisti'ies li)¢ernational is a chai'ity registered in Noi'lhet'i) li'elaiid and has the charity nuinbei. NICI 04004. The iegistered office address and pi'incipal place of business is Units 7&8 Bellsbridge Office Pai'k, Ladas Di'ive, Belfast, B T6 9FH. The principal activity of the charity continued lo exists lo serve the Churcl), and their Iiiotto is W¢ want the woi'ld to know Jesus ACCOUNTING POLICIES Basis of preparlng the financlal statements The financial slalemeiils have been pi'epai'ed in accordance with the Chai'ilies SORP (FRS 102) 'Accounting aiid Reporting by Charities.. Statement of Recomineiided Practice applicable io charities preparing theii. accouiits iii accordance with the Fiijancial R¢portiiig Siandai'd applicable iii the UK and Republic of Ireland (FRS 102) (effective l Januai'y 2019}', the Financial Staiidai'ds applicable in the UK and Republic of Ireland, and the Cl)arities Act (Norihei'n Irelaiid) 2008. Logos Ministries Iiitei'national meets the definition of a public benefit eiitity linder FRS 102. Assets and liabilities are initially recognised at historical cost oi. transaction value unless othenvise slated iii the relevant accoui)ting policy. Income All iiiconie is i'ecogiiiscd iii the Statement of Financial Activities once the eharity has eiititlemeiit lo Ilie fiinds, il is probable that the inconie will be i'eceived and the amount can be measured ieliably.Gift aid claiins al'e I'ecogiiised in the pei'iod to which t]iey relate. Incoine tax r¢covei'able iii I'elation to iiivestsnent income is i'ecogiiised at the time the iiivestsnent inconie is I'eceivable. Expenditui'e Expenditui'e is i'ecognised oiice Ihei'e is a legal oi. constructive obligation lo Iraiisfei. ecoiiomic beiiefit to a thii'd pai'ty, it is pi'obable that a ti'ansfei. of ecoiiomic benefits will be required in settlement and Ilie amount of the obligation cali be nieasured reliably. Expeiiditure is classified by activity. The costs of each activity are niade up of the lolal of direct eosls and shai'ed costs, including suppoi't costs iiivolved iii undertaking each activity. Dii'ect costs attributable Co a single activity are allocated dii'ectly to that activity. Shared costs which coiilribute lo more than one activity and support costs whicli al-e not attributable lo a single activity are apportioned betweeii those activities 011 a basis consistent with Ilie use of i'esourc¢s. Centi'al staff costs al'e allocated oil the basis of linie spent, and depi'ecialion chai'ges allocated on the poition of the asset's use. Expeiidittii'e on charitable aetivilies is incuried on dii-ectly iindei'taking the activities which fiiriher the chai'ity's objectives, as well as any associated support costs. All expenditui'e is ii)clusive of ii'recove12ble VAT. liiterest receivable Interest oil fiinds held oli deposit is incliided wheii receivable and the amount can be measured reliably by the chai'ity; this is noi'mally upon iio¢ification of tl)e inteiest paid oi. payable by the iiislilution willi wl)oiM the funds are dcposited. Taiigible fixed assets Taiigible fixed assets of £nil or more are capitalised aiid recogiiised wliei) futui-e econoniic bei)efits are probable and the cost or valuc of the assets are measiired al cost less accuniiilaled depreciation and aiiy aceun)ulated iinpaii-lnent losses. All costs incui'i'ed lo bl'ing a tangible f5xed asset ii)lo ils inleiided woi'king condition should be iiicliided iii Ilie measiii-ement of cost. Page 12 conliiiiied.
Logos Miiiisti'ies Intei'national Notes to the finayicfial Statemen18 - contliiued foi. tlie year ended 31 Decembei. 2022 ACCOUNTING POLICIES - contlnued Tangible fixed assets Depi'eciation is charged so as to allocate the cost of tangible fixed assets less their i'esidual value over their estimated useful ecoiioiiiic lives, using both Ilie slraight-line niethod aiid on a reducing balance basis. Depi'eciation is provided on the followiiig basis.. Freehold property Plant and machinei'y Motor vehicles Fixtures aiid filliiigs Office equipment Straiglit liiie ov¢i' 50 yeai's 201/0 reducing balance 250/0 rediiciiig balaii¢¢ 15010 reducing balance 200/0 Sti'aight liiie The assets, i-esidual values, useful lives ai)d depi'eciacioii methods are reviewed and adjusted I'elrospectively if appi'opi'iate, or if there is an indication of a signifi¢anl change since the last i-eporting dale. Gains and losses on disposals are detei'5nined by coniparing the pi'oceeds with the cari'ying amount and are I'ecognised in the Stateineiit of Financial Activities. Taxatioii The ehai'ity is exempt fi'oIii tax on its charitable 2CtiviÉies. Fund accounting General funds are uiiresiricled fuiids which are available foi. Iise at the disci-ecion of the Tiustees in furtherance of the gei)ei'al objectives of the chai-ity and which have not been designated foi. other pui'poses. Restricted ndS are ndS wliich al'e to be used in accordance with specific restrictions imposed by donoi's oi. wliich have been raised by tlie charity foi. spccific purposes. The costs of i'aising and administei'ing such funds al'e charged agaiiist the specific fund. The aim aiid use of each rests'icled fund is set out iii the notes lo the fLnancial statements. rnvestment iIicome, gains and losses are alloeat¢d lo the appi-opi'iate fuiid. Pensions The chai'ity opei'ales a defiiied conlribiition peiision scheine and the pension charge iepi'esenls Ilie aniouiits payable by the charity to the fund in iespect of ilie year. Going concern Ai tlie linie of appi-oving the finaiicial statemeiils, Ilie Tiustees l)ave a reasonable expectation that Ilie charity has adequate resoui'ces lo continue for Ilie foi'eseeable fiitui'e. Piige 13 coiilinued...
Logos Mlnlstrles International Notes to the fi iiianclal Statemeiits - eoi)linued for the year ended 31 Deceinbei. 2022 MATERIAL ACCOUNTING ESTIMATEI S AND AREI AS OF JUDGEMENT Esliinales and jiidgenienls al-e continually evaluated and al'e based on hislori¢al expei-ience and other factoi's, includii)g expectations of fvttire events diat are believed lo be responsible under 11)e circumstances. Material #ccountiiig estimates and assumptions Tlie chai-ity makes estiinales and assumpiioiis concei'ning the fiittire. The I'esulting accounting estiinates and assumptions will, by definition, seldoni equal the I'elated actual results. The esliniates and assuniplions that have a significant risk of causing a niatei-ial adjustinent to the cai'i'ying aniounls of assets and liabilities within the i)exl finaiicial year al'e discussed below. Matei'ial Areas of judgement In pi'eparing these financial stalenients, the Iwstees have had to make the following judgements. Determine whether there al'e indicators of imp2irnieiit of the conipany's tangible assets. Factoi's takeii into consideralioi) ii) l'eaching such a decision iiiclude the econoinic viability aiid expected futtJi'¢ fiiiancial perfoi'mance of the asset whei'e it is a coinponent of a larger cash-geiieraling iiiiit, the viability and expected futui'e perfoi'inance of that iinit. Othei. Iiey sources of e5tiinatioii uiicertalnty Tangible fsxed assets are depreciated ovei. Iheii. iisefiil lives taking iiito account residual values, where appropi'iate. The actual lives if the assets and i'esidual values are assessed ailliually oiid may vai'y depeiiding on a number of factoi's. In re-assessiiig asset lives, factors sucli as technological innovation, pi'oduct life cycles and mair)tenan¢e pi'ogrammes al'e takeii into account. Residual value assessn)ents consider issues siich as future market conditions, the remaiiiiiig life of the asset and projected disposal valiies. DONATIONS AND LEGACIES 2022 Total funds 2021 Total runds Ui)reslricted funds Restriclcd flliids Donations to general funds Fai'iners - Myaninai. Crisis Fuiid Hong Kong & China Pi'oject Mission Awareness Pi'ograinme Myanmar Ministiy Pi'oject Ovei-seas Ministi'y Fund Youth & Schools Oiitreach Kenya & East Africa Ministry Project Mai)ipui' Iiivestinciit Pi'oje¢t Java Projectiti)doiiesian Mission Vielnain Initiative Nepalese Project Wherevei. Needed Most BTM - Bible Teacliiiig Ministry Pei'sonal Suppoi'l Afghan Refugee Fund Andamaii Ministiy Pi'oject 39,055 (i) 3,950 1,007 360 39,054 3,950 1,007 360 432 353 8,344 9,361 4,902 2,650 6,104 22,955 15,592 6,344 920 2,272 28,503 1,919 2,869 2,234 3,088 3,181 60 394 38,648 7,519 219,500 9,076 30 432 353 8,344 9,361 4,902 2,650 6,104 16,765 16,765 7,525 257,672 16,741 146 7,525 257,672 16,741 146 Carried forward 331,629 43,737 375,366 365,104 Page 14 coiitiiiiied.
Logos Miiilsti'les Intei'natioiiAI Notes to tlie Finaiicial Stateinents continued foi. the year elided 31 Deceinbei. 2022 DONATIONS AND LEGACIEI S- contlnued 2022 Total funds 2021 Total nds Uni'estricled funds Restricted funds Bi'ought forward Leadei'ship Seininar Spoiisoi'ship Pakistan Flood Relief Fund Uki-aine Relief Appeal Philippines Initiative 331,629 43,737 375,366 365,104 1,250 13,343 12,315 15 13,343 12,315 15 331,629 69,410 401,039 366,354 OTHEI R TRADING ACTIVITIES 2022 Total funds 2021 Total funds Unr¢stricl¢d funds Restricted fuiids Sale of books 1,810 INVESTME4 NT INCOME 2022 Total nds 2021 Total lids Uni'estricted funds Restricted fuiids Deposit accouiit interest 102 102 270 RAISING FUNDS Other ti'ading activities 2022 Total nds 2021 Total fijnds Unrestricted funds Restricted fuiids Charity tradiiig cost of sales 12,389 Page 15 coiitiniied...
Logos Ministries Iiiternatiojial Notes to the Financial Statements - eontiiiued for the year ended 31 Decelnber 2022 CHARITABLE ACTIVITIES COSTS Support costs (see note 9) Charitable activities 410,955 SUPPORT COSTS Managenient Fii)aiice Totals Chai'ilable activities 407,946 3,009 410,955 Support costs, incliided in the above, are as follows.. 2022 Charitable activities 2021 Total activities Wages Social security Pensions Water rates Insui'ance Light and heat Telephone Priiiting, postage & slalionery Slliidi'ies RepaiLS & maintcnaiice Publishiiig & comniunicalions Project costs Con)puter expenses Gifts Hospitality and special events Govei'nance costs Other Support Fund Payments Depreciation of tangible aiid lieritage assets Loss on sale of tangible fixed assets Iinpaii'ment losses foi. tangible fixed assets Bank cliarges 201,944 9,071 3,838 325 2,599 8,429 2,51 969 1,660 6,190 14,084 98,231 7,199 560 425 4,992 26,399 18,520 167,361 6,382 3,015 279 2,100 4,368 1,638 836 342 6,059 5,985 56,006 3,650 1,400 203 5,827 25,756 18,574 3,928 99,118 2,336 3,009 410,955 415,163 Page 16 continued...
Logos Miiiisti'ics liitern8tloiial Notes to the Fiilancial Statemeiits - continued for the year elided 31 Decenibe). 2022 io. TRUSTEES, REMUNERA TION AND BENEFITS There wei-e no Iiustees, reinunei'ation or othei. benefits for the year ended 31 Deceniber 2022 nor for the yeai. ended 31 Deceniber 2021. Ti'ustees, expenses There wei'e no trustees, expenses paid for the yeai. ended 31 Decembei. 2022 nor foi. the year elided 31 Deceniber 2021. STAFF COSTS 2022 2021 Wages and salai'ies Social secui'ity costs Othei. pension costs 201,944 9,071 3,838 167,361 6,382 3.015 214,853 176,758 The average nioi)thly iiui)Iber of einployees during the year was as follows.. 2022 14 2021 Einployees No eniployees received einoluinenls in excess of £60,000. Page 17 coiitinued...
Logos Mijiisti-ies Intei'iiational Notes to the Financial Statements - continued for the year elided 31 Decemb¢i' 2022 12. PROJECT EXPEI NSES 2022 Total fiinds 2021 Total funds Unrestricted funds Resti'icted fiinds Farmers ~ Myaninar Ci'isis Fuiid Hong Kong & Cliii)a Project Mission Awareness Pi'ograiDIMe Myanmai. Miiiisliy Pi'oject Overseas Ministi'y Fiind Youth & Schools Outi'each Keiiya & East Africa Ministry Project Manipur liivestinents Pi'oject Java Pi'ojecil Iiidoiiesian Mission Nepalese Pi'oject BTM_ Bible Teaching Ministry Afghaii Refijgee Fui)d Andan)an Ministiy Project Open Dooi. Church Project Staff Suppoi't Leadership Seininai. Sponsorship Pakistan Flood Relief Soutli Sudan Project Ukraine Refugee Appeal Cents'al and Eastern Eui'opean 5,058 2,183 500 5,058 2.183 500 2.652 9,088 13,238 4,954 3,328 1,650 ,4,448 200 10,503 14,550 546 200 4,918 5.739 7,210 500 1,445 17,225 2,652 9,088 13,238 4,954 2,192 5,185 1,000 2.409 200 2.158 3,500 500 300 5,693 750 3,328 1,650 4,448 200 10,503 14,550 546 200 4,918 6,000 1,500 12,315 400 6,000 1,500 12,315 400 25,762 72,469 98,231 56,006 13. COMPAIL4TIVES FOR THE STATEMETrIT OF FI INANCIAL ACTIVITIES Um-eslricted fid Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donalioiis and legacies 287,446 78,908 366,354 Olhei. li'adiiig activities Inveslmeiit incoiiie 1,810 270 1,810 270 Total 289,526 78,908 368,434 EXPENDITURE ON Raising funds 12,389 12,389 Ch21'itable activities Cliarilable activities 364,867 50,296 415,163 Total 377,256 50,296 427,552 NEIT INCOMEtl(EXPENDI'I'URE) (87,730) 28.612 {59,118) Page 18 coiilinued...
Logos Ministries International Notes to tlie Fiiianeial StAteinents continued for the year ended 31 Decembei. 2022 13. COMPARATIVES FOR THE STATEI MENT OF FINANCIAL ACTIVITIES - continued Uiwesli'icled Rests'icted fiind fund Total fui)ds Transfers between funds (1,825) 1.825 Net movement in funds (89,555) 30,437 (59,118) RECONCILIATION OF FUNDS Total funds brouglit foi'ward As previously reported Prior yeai- adjustment 493,890 105,507 83,876 577,766 105,507 As restated 599,397 83,876 683,273 TOTAL FUNDS CARRIED FORWARD 509,842 114,313 624,155 14. TANGIBLE FIXED ASSETS Fixtui'es and fittiiigs Freehold property Plant and Inachinery COST Ai l January 2022 Additions 426,470 2,710 44,374 479 At 31 Deceimber 2022 426,470 2,710 44,853 DEPRECIATION At l Januaiy 2022 Cliai'ge for yeai. 136,470 8,529 2,556 39,966 734 At 31 Deceinbei. 2022 144,999 2,587 40,700 NET BOOI< VALUE Ai 31 DeceiT)bei' 2022 281,471 123 4,153 Ai 31 Deceinbei. 2021 290,000 154 4,408 Page 19 coiitinued...
Log05 Miiiistrics Iiiternatlonal Notes to tlie Financial Statements coiitliiued foi. the year elided 31 Deeeinbe). 2022 14. TANGIBLE FIXED ASSEI TS- continued Motoi. vel)icles Computei. equipnienl Totals COST At l January 2022 Additions 26,060 28,326 4,362 527,940 4,841 Al 3 I Deceinber 2022 26,060 32,688 532.781 DEPRECIATION At l January 2022 Chai'ge foi. yeai. 15,066 2,749 15,616 6,477 209,674 18,520 At 31 Deccinber 2022 17,815 22,093 228,194 NET BOOK VALUE At 31 December 2022 8,245 10,595 304,587 At 31 December 2021 10,994 12,710 318,266 The net depi-ecialed cost of the chai'ity's freehold pi-operty totalling £281,471 is broadly eqiiivalent to its nel market value and Ihei'efore an appi'opriate carrying value for ii)clusioii iii the financial statenients at 31 Decembei. 2022. The Trustees considei. that legal title to all of the land and property coniprised iii the undei'lying deeds relating to the vai'ious pi'opei'ties held al'e ultiniately held by the Tiiislees of the 1981 Tiust Deed and held iii the name of individual Truscee as Tiustees of Logos Miiiistries Intei'national.. 15. DEI BTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Othei. debtoi's Prepayments 7,707 2,624 10,652 5,579 10,331 16,231 Page 20 coiitinued.
Logos Miiiistrie5 liiternatioiial Notes to the Finaiicial Statemeiits - coiitiiiued for tlle yeaR' ended 31 Deceniber 2022 16. CREI DITORS: AMOUNTS FALLING DUE WITHIN ONE YEI AR 2022 2021 Oihei. ci-edilors Accrtied expenses 856 5,402 669 5,905 C),258 6,574 17. ANALYSIS OF NEI T ASSETS BETWEEN FUNDS 2022 Totsl fiinds 2021 Total funds Um'esti'icled fiiiid Restricted fiind Fixed assets Current assets Current liabilities 296,602 215,293 (6,258) 7,985 100,719 304,587 316,012 (6,258) 318,266 312,463 (6,574) 505,637 108,704 614,341 624,155 18. MOVEMENT IN FIUNDS Nel movement in funds At 31112122 At 111122 Uni'estrieted funds Genei'al fund 509,842 (4,205) 505,637 Resti'icted funds Resti'ictcd Fuiid 114,313 (5,609) 108,704 TOTAL FUNDS 624,155 (9,814) 614,341 Net nioven)ent in fuiids, included in the above al'e as follows.. Incoiniiig i-esoui'ces Resources expended Movement in funds Uiirestrlcted funds General fid 331,731 {335,936) (4,205) Restricted fuilds Restricted Fund 69,410 (75,019) (5,609) TOTAL FUNDS 401,141 (410,955) (9,814) Page21 continued...
Logos Ministi'ies Intei'national Notes to the FinAiieial Statements continiied foi. the year eilded 31 Deeembei. 2022 18. MOVEMEI NT IN FUNDS - continued Coinpai'atives for ii)ovement in funds Prior year adjustment Nel moveIiient in fiinds Ti'aiisfers between funds At 31112121 Al 111121 Unrestricted funds Geiiei'al fund 493,890 105,507 (87,730) (1,825) 509,842 Restricted funds Restricted Fuiid 83,876 28,612 1,825 114,313 TOTAL FUNDS 577,766 105,507 (59,118) 624,155 Coniparative net moveinent iii fuiids, included iii tlie above are as follows.. Incoming i-esoui'ces Resources expelided Movemeiit in funds Unre5ti'icted funds Genei'al fiind 289,526 (377,256) (87,730) Resti'icted funds Resti-icted Fund 78,908 (50,296) 28,612 TOTAL fuNDS 368,434 {427,552) (59,118) A cui'rent yeai. 12 inonths and prioi. yeai. 12 months combined positioii is as follows.. Prior yeai. adjustment Net nioveinent in funds Transfers between funds At 31112122 At 111121 UIiresti'icted funds General fund 493,890 105,507 (91,935) (1,825) 505,637 Resti'lcted funds Restricted Fuiid 83,876 23.003 1,825 108,704 TOTAL FUNDS 577,766 105,507 (68,932) 614,341 Pagc 22 conliiiiied.
Logos Mlnislries International Notes to the Financial StAtements - continued for tlie yeai. ended 31 Deceniber 2022 18. MOVEMENT IN FUNDS - continued A cui'i'enl year 12 Inonths and prior year 12 Inontl)s conibined net movenient in funds, included in tl)e above are as follows.. Incoiniiig resoui'ces Resources expeiided Movement in funds Unrestricted funds Genei'al fund 621,257 (713,192) (91,935) Restricted funds Restricted Fund 148,318 (125,315) 23,003 TOTAL FUNDS 769,575 (838,507) (68,932) 19. EMPLOYEE BEI NEFIT OBLIGATIONS The chai'ily operates a defined conli'ibutions peiision scheine. Tli¢ assets of the scheme al'e held sepai?tely from those of the charity iii an independently adininistei'ed fund. The pei)sion cost chai-ge I'epresents conti'ibiitions payable by the conipany to the fund aiid amouiited to £3,838 (2021.. £3,015). Conti'ibutions lolalling £856 (2021 ..£669) were payable to the ftind at the balance sl)eet dale and are included in creditors. 20. REI LA TII D PARTY TRANSACTIONS Payinenls wei'e made lo Thonias and Yvonne Mcclean, LMI Co-Fouiidei'slMissioii Directors and foi'iner Trustees of £26,399 (2021..£25,756). They al'e self employed and as with all LMI staff meinbei's, Iheii. payinents are funded by donations that al'e included in pei'sonal support. Page 23