REGISTERED CHARITY NUMBER: NIC104004 Report of the Tru5tee5 and Audited Financial Statements for the Year Ended 31 December 2023 for Logos Ministries Internationxl Mcllveen Howard Limitrd Statutnry Auditnr% Chartered Accountants 169a Upper Newtownards Road Belfast BT4 3HZ
Logos Ministries Internatiollal Contents of the Fin9ncial Statements for the year ended 31 Deeember 2023 Report ofthe Trustees Report of the Independent Allditors 7 to 9 Statenlent of FIDancl81 Acllvliles 10 Bal#nce Sheet Notes tn thp. FinAnriAI .qtatp.me.nts 12 to 22
Logos Ministries InternationAI Report of the'frustees for tbe yur ended 31 December 2023 Logos Ministrte5 International is an evangelical christian organisation derived from a Declaration of Trust Deed dated 5 Octob¢r 1981 in the name of The Youth Evang¢li¢al Mi55ionary Fellowship,. and the Trustees of Logos Ministrics IiiieiiLa(iUll¢l (Éli¥ ¥ll¢ily) ifr¥ appuinl¥d under the iernjs of the Tru51 Deed. The Trustees present their report with thc financiELI sthtcmcnts of th¢ charity for thc ycar rndcd 31 Dcccmber 2023. Thc Trustees have adopted the provisions of Accountino and Keporting by Lharities: Statement ot Kecommended Practice applicable to charities preparing accnunt% in accnrdxnce with Fin2nr.ixl RprKJrtino .gtandard Rpplicable in the UK and Republic of Ireland. OB.IErfivE8 A, AcfivJTIES Policies and objectives In setting objectives and planning for activities. the Trustees have given due considerdtion to generdl guidance piJhlishp.d hy The. f_hAritie.s r.ommis5ion forNorthern Ireland relAtin8 to pllblie benefiL Activities undertaken to achieve objectives The charity has four main areas of work and further details are gÈven below. There are various projects operating thrOuoUt th¢ ycar. Mnin Activities undertAken to furthcr thc charity s purposcs for publie bcnefit The chariiy had twenry n¥0 different projects runnin The results of the major projects are listed below in the Review of Activities. Fund rAising and donations received The charity rdises and receive% funds from a variety of sources including reaching out for 'one-off gifts. specific project-funding appeals and g¢n¢ral public donations. During the year to 31 Decenib¢r 2023, the cliaTlty received £208,630 from 'one-off gifts representing 450/o of our total funds received in the ycar. (2022= 184.038 representing ACHIEVEMEP'T AND PERFORMANCE Review of activities Yuulli & SLliuvlJ OulieaLb Department We were delighted that the post-pandemic surge in demand for our Youth & Schools Outreach (YSOI Team's serviees persisted throughout 2023. as opportunities for the team to deliver their programmes ai schools and youth events across the nation continued to arrive. This included a significant growth in the rtumber of churche5 requesting tliat our team meet with their youth groups, which was a very welcome developwnenL In addition 10 their reoular activities. the team played a major role in a week_lono mission event in Liverpool, and initial diJCUSoions also started to takc placc rcgELrdino a p033ibl¢ trip to Kcnya in 2024, whcrc LMI'5 min15try pdrtncr was seeking support with youth tninisty. In Scptcinbcr, wc wcrc delighted to welcom¢ a ncw mcmbcr to the YSO Team. who very quickly became an iniportant part ot the ministry. Ke.4retlably. however. we also had to say goodbye to another team member. who departed LMI after four years of faithful service. Page I
Loeos MinL%tritr InternationAI Report of the Trustees for the yeAr eDded 31 December 1023 Bible Teaching Ministry Tlijouglivui 2023, Lv0Éinu1 to 5cnd our Bible Teaching Minisry (BTM) courses to 5Eudenis around ihe world by email and posL and eonlinued to develop our 'Dynamics of Discipleship, {D(TrD) Rihle teachin(J restsijrre. Already available in nine languages. we were very glad to add four more languages to the translated versions ot- DOD. namely Burmese. Falam c.hin. Hunoarixn and Kinyanv2nd2 nisr.iissions algo eommenced in relation to several potential tronslations, including Mandarin, Portysucsc and Spanish. Adding th¢5¢ translations to tlic laiigua8e5 W¢ already cater for would mean thai the DOD resource could be read by more than half of the world's population. Regrettably, in November. th¢ C¢)ordinator of the BTM Departtnent infoTmcd us that slie would leave LMI al thr cnd of the year. Our Publishing imanager agreed to lake on the responsibilitie5 of the BTM Coordinator. in additioll to her own responqibilitieg. nn a temtKJrAry hRsis. Overse9s Ministry Programme Our Overseas Ministry Pro£ramme (OMP) continued kn go from 'strength-to-strength' throughout the year. as our OMP Coordinator worked closely with our 14 over. eas miniatry partners to deliver a rnnsc of diffcrcnt projccts. This included providing seed money capithl for 10 business-as-mission projects in Burundi. humanitarian aid efforts amongst refugees in Asia- support for flood relief efforts in Pakistan- and sponsorship for indigenous leadership training seminars in Malawi. Work also continued on our Tractor and PIoLtgh for Kenya, ProjecL which wc hopc to complete by the end of ihe year or early next year. Our OMP Coordinator also launched our new Virtual L¢adcr's Community. a secure online forum for our overseas ministry partners to learn, share ideas and fellowship together. We believe this forum will greatly strengthen our network. and each of the partners as individual members of it. In the aututnn, we sent a ministry team from the UK to work with our partner in Myanmar, where they delivered classes for students at a Bible college and provided leadership training for Christian leaders. Mission Awareness Programme LMI staff members We onG¢ again involved in Mission Awar¢n¢5s Progratnme (MAP) meetings in a tange of locations, and involving a mix of denominations. encournging and challenging those they met to get involved in Rlobal mission. While many of the Churches they visited have long-standing relationships with the ministry. there were quite a number of new churches vigited as well. including severnl churches from the Church of the Nazarene denominution located 411fuSb Nuiili¥rn Ir¥ldnd. Regrettably, despit¢ our best efforts to brino our ttlinisiry partner for Burundi to the UK to undertakc a scric5 of meetlngs, the UK fjovernmeni did nol grdni him a visa. LMI 5thff attended the meetings that had been arranged, where they .shared about our work trtrgether 2nd nijr hnpp.% fnr the. fiitiire of the partnership. FIP4ANCIAL REVIEW Finaneial posÉtion Th¢ results for the year arc set out in detail on patres 10 to 24. Thc rcsults show net incoming tesour¢¢5 for the y¢ar of £32,238 (2022: net outgoing resources £9.814). Page 2
Logos Ministries Intern#tional Report of the Trustees for the ye#r è.nrfod .71 lJè.ce.mber 2023 FINANCIAL REVIEW Reserves Policy and Going Concer The Trustees are pleased to report that at the end of the financial year. the charity had net working capital reserves of £142,494 of which £329.762 was held cash in bank accounts (2022.. £309,574 and £305,681 resp¢¢tiv¢ly). This is adequat¢ to covcr all known l¢v¢ls of rxyriidilur¥ fvi th¥ ncxt three tnonth5. Furtherniore. In a wors1 case event resulting in a cessation ot" donations received. the Trustees cotlder that this level of liquid reserves wcfruld enahle the eonttnuation of the charity's core activities for at le&st a furth¢r twelve month period after ony suoh unforc3ccn cvcnt. For these reason5, the 'l'rustees are sats"stied with the level of liquid funds held and a¢cordingly will continue to adopt the going concern basi5 in preparing the financlal statements. Due to the nature of the charity, there may be large amount of cash in hand and retained fund balances. This arises due to the fact that funds for a project may be rais¢d over several financial years. but the related expenditure is not made until the fundraising is completed, often in a diff¢r¢ni financial year. All cash balanc¢s are carefully ac¢ount¢d for &id ¢As5 funtJb ¢irc noi retained by ihe charlry. other than what is required for working capital purposes. FUTURE PLANS As God enables us. we want to work towards achieving the following goals in 2024: I ) A possibl¢ ministry trip by our Youth & Schools OutrCh Team to Kenya in summer 2024. 2) We would like to invest in a new website. 3) We would like to employ additional personnel for the Youth & Schools Outreach Team. our Finance DepartmenL and our Communications DeparttnenL 4) We wani io bring an Lmt oversw ministy partner to the UK lo take part in Mission Awareness Programme (MAP) meetings. 5) We would like to further extend the global r¢ach of our 'Dynamics of DIlpleSIp, resource by adding Mandarin. Portuguese and Spanish translations. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing docum¢nL a Deed of Trust dated 5 October 1981 in the nam¢ of 'Thc Youth Evangelical MÈssionary Fellowship. fTDm which Log05 Ministries Jnternational (LMI) was created, and constitutes an unincorporated charity. Constitution LMI is an interdenominational. evangelical Chrtstian organisation, which exists to Serve the Church. Our rnotto 15 "We wxnt thp. wnrld to know Jegus" As a ministry we oper*t¢ totally by faith. trusting in God to meet all our needs throush the prayers and support of Hi5 pwpl¢. Lmt is iIivulvrd in fuur k¥y of work.. - Mission Awareness Pmgramrne- inspiring 2nd challenging the local church into 8etion Youth and Schools Outreach - inspiring this generation of young people to examine the Christian faith through relevanL modern and engaging programmes. - Blble Te&ching Minisiry - Di5cipling and tr"nIng Christs"ans around the world - Overseas Ministy Programme- equipping and strengthening local churches around thc globe. Page J
Logos Ministries International Report of the Trustees fGr the year endeA.3I T)p.ep.mbe.r 2023 STRUCTURE, GOVERNANCE AND MANAGEMEhT Method5 of appointmeIiL election alld retirement of Truslees The manageTnent of the charity is the responsibility of the Ttustees who are elected and co-opted under the lemis of the TnJ>t Deed. Serving Tnjgtees hold regular meetings at which new Trustees Gqn b¢ prop05cd and seconded. During the financial ycar, and up to the dat¢ of tliis ICVUEL It¥w TrusL¥c w&5 appoinied following the death of another. Org2nisational strueture, $tewArd$hip and decision making poli¢i&s As not¢d und¢r th¢ CovGrnins Do¢um¢nt paragraph. tl)c Cl)"1ty fuiii(iuiii uiidri di¢ l¥rwns ofihr 1981 This( Deed and the opeTation of the charity is under the 51ewardship of the Trustees of the TrusL The Trnst De¢d giv¢5 thc Trustees pow¢rs to appoint a management wmtnittee comprising serving Tru5tK5 and other individuals approved by the Trustees to act a5 managers. The Trustees are perniitted to delcgate powers and authority to the management COTnrnittee for the purpose of managing Trust property on their behalf and to make de¢isions. including appropriate policies. in respect of the Trust propcrty- Ultimately. the Trn5tc¢s remain responsible foi th d¥Li&iUll& thkcn and carried out on their behalf by Ihe management comtnittee. At the date of this reporL there are eight servtng Trustees and the monagem¢nt committcc comprising all of the Trustccs and eight Jnanager5. In addition, Thomas and Yvonn¢ McCl&qn. Co-FounderdMission Director5 arc also r¢taincd by thG Gharity for thcir ktLuwl¥d¥¥ dnd continucd suppon for the chariry's objecilves. They are self-employed until 31 August 2023 and paid under LMI'S sUPPOrt fund structure. Details of amounts paid to Thomas and Yvonne McCleAn art outlined in note 18 of the financial statements. From I September 2023. Thomas and Yvonne beca¢ ¢mployees of the charity. FinaDCi21 risk management The Tnistees have assessed the major risks to whtch the charity is exrM)sed. in particular those related to the operations and finances of th¢ Gharity. Major risks id¢ntified include acceptan of doT]ations, application of donaiion monies received for the purposes of the charity and all matters related thereto. The trustees have Sat)fied themselve5 in thc3c or¢a3 of opcratron5. that adcquatc controls and proccduie5 arc in plac¢ to mitigate any exposure io the identified nsks. Funds held as custodion for others In the course of nornial activities of the charity. we do not hold funds on behalf of any other party. tn accordance with the Declardtion of Trust dated 5 October 1981. in th¢ evcnt of our charity ceasing to function, all or any residual funds after settlement of all our obligaiions shall be given to some other fellowship having objects similar to our own. and distributed at the discretion of the Trustees ai the time. RcfLRENCI AND ADMINIsfRATIVE DETAIiS Kegistered Lbarity number NtC104004 Principal address Ullits 7 & 8 Bellsbridge Office Park Ladas Driv¢ BelfasT Co Antrim BT6 9FH Yage 4
Logos Ministries International Report of thÈ Trllstees for the yeai" ended 31 D¢c¢iiibeJ" 2023 Trustees Rev J Maddock (deceased 15nn3) Mr E Sttveiison Mrj Wilson Mr M Richmorkd Mi T Cldrk¥ Mr P Nixon Mr l McCona>hy Mr A BcacoTn Mr T Mewha (appointed 317123} Auditor5 Icllveen Howard Limited Statutory Auditors Chanered Accolintan 169a Upper Newtownards Road Bclfa5t BT4 3HZ Ulster Bank Limited Arches Retail Park Belfast BT5 4AF Solicitors Hewitt & Gilpin Solicitor5 Thomas House 14- 16 Jame5 Seel Souih Belfast BT4 3BA Page 5
Logos Ministries International Report of the Trustees for the year ended JI Decemb¢i' 2023 STATEMENT OF TRLSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial ststements in accordance with applicable law and United Kingd05n Arcounting Standard5 {United Kingdom Generdlly A¢¢epied Accounting Practice) including trinancial Keportin.4 Standard 102 "The Financial Reporting Standard applicable in the UK and Republic nf Ire12nd." The law applicable to charitics in Northern Ireland. thc Charities Act (Northem Ireland) 2008. and the provisinn% Df the trust deed requires the trustees to prepare financial statemcnts for cach financial ycar which oivc a truc and fail vicw of Ilir SL¢ uf utrails uf the chariry and of The incomints re50urce5 and application of resources. including the Income and expenditure. of the charity for that period. In preparing Ih05e financial statements. the trustee5 are required to.. select suitable accounting policie5 and then apply them consi5tently- - observe the methods and principles in the Charity SORP. make judtsem¢nts and estimates thot are rea50noblc ttnd prndcnt. siaie wheiher applicable UK Accounting Standards (FRS102) have ben followed, subject to any material departures dise105ed and explained in the financial statements. prepare the finaneial statcmcnts on the going ¢onccrn basis unless it is inappJDpriate to presume ihai th¢ charity will continue in business. Thc tru5tce5 are r¢spon5ible for keeyiiig yivyri uuLvuii(ilL¥ tfL()rds which disclose with reasonable accuracy ai any lime the financial position of the charity and lo ettable them to ensure that thc financial statements Comply with the Cliarities Act (Ncjrthern Ireland) 2008. the Charity (Accounts and Reports) Regulations (Northern Ireland} 201S and the provisions of the trust deed. Th¢y arc also responsible fur 5afr¥uarding the assets of the charity and hence for taking reasonable Steps for the prevention and detection of fraud 8nd other irregularities. Disclosure of information to auditors Eath of the persons who are Trustees at the time when tFLiS Trustees, r¢port is approved has ¢onfimied that-. - so far as that Trustee is aware. there is no relevant audit inforniation of which the charity's auditors are llnaw2re' and that ThJ51ee ha5 iaken all the steps Ihai aughi have been iaken as a Trustee in order lo be aware ot" any relevant audil information and to establish that the eharity'5 auditors are aware of that inforniation. Approved by order of the board of trustees on . .al. - and 5iJo ed on its behalf by= Mr A lJea¢oTn -"1 rustee Page 6