THROUGH_FAITH_MISSIONS - Accounts
THROUGH_FAITH_MISSIONS - Accounts
The trustees and directors present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
The Trustees have referred to the Charity Commission’s general guidance on Public Benefit when reviewing our aims and objectives and in planning the charity's future activities and believe that the activities of the charity clearly demonstrate a direct public benefit.
The charity's objects and powers are to advance, promote and maintain the Christian Faith. In summary, the charity achieves these objectives by the following activities;
organise, hold and give evangelistic missions meetings, services, lectures, courses, conferences, schools (residential and non-residential)
print, publish and distribute books, booklets, articles, papers, leaflets, posters, banners and all other forms of literature and publicity materials
support financially or otherwise, any charitable purpose being undertaken by any institution or organisation which carries on activities for the advancement of the Christian faith
co-operate with other organisations having similar objectives as the Association
organise and promote exhibitions, displays, conferences, courses, study groups, vocational training and advertising of all kinds.
The outworking of these objects is demonstrated in the activities detailed in the review of the year.
Review of the Year
The year proved a challenging one as we said goodbye quite early in the year to Tim and Georgina Hall. Tim served as our CEO since 2018 and Georgina came on board as a Missioner soon after.
Consequently, a few previously planned events had to be cancelled as this left Dan Holland as our sole evangelist. We are delighted that Dan has stepped up to be our new Lead Evangelist, taking over from Tim in leading TFM.
Through the year Dan has attended and run several outreach events: Basingstoke, as part of the Chaplaincy team at the Download music festival, Peterborough and Wolverhampton. He also spoke at several church services and gave the main address at the Pentecost Praise event in Cambridge.
Our annual conference was held in Wolverhampton with the great support of the churches who had been part of the mission there.
We continue to be encouraged by our volunteers who not only come and join mission teams but also help behind the scenes preparing for missions, speaking in their local community about TFM and supporting training events. A mission in Norfolk, following on from the successful Peddars Way mission in 2022, was led by one of experienced supporters with 2 teams working with local churches on the west section of the North Norfolk coastal footpath. We also supported a non-TFM mission in Highley. Run on TFM principals and staffed by TFM trained volunteers, it was good to see this initiative come to fruition.
We continue to rent small premises in a local church south of Cambridge for our office but look to the future for a more permanent base to work from. Several locations have been considered but to no conclusion as yet. In the meantime, we are grateful for the use of a storage facility at no cost.
Communications
Our refreshed website has allowed us to more clearly present news about our activities and we sent out 2 newsletters in the year. This is on top of weekly prayer news emails sent to over 600 supporters.
Staff Appointments
As previously mentioned, we said goodbye to Tim and Georgina Hall but no further staff have been appointed in their place.
Looking forward - Future Missions in the UK
During 2024, a number of missions and training events are planned although we are noticing that churches and groups remain quite reserved in their outlook. We will have to see how this develops through the year. An early highlight will be a joint venture in Kenya with the Evangelistic Medical Missions Abroad charity. Dan will join a small team of medical staff in Jan/Feb 2024. It is hoped that this will pave the way for a return to work there with a larger team going out in 2025.
The results for the year are set out in the attached financial statements. The charity had income of £132,858 (2022 - £124,040 ), while £149,604 (2022 - £162,703 ) was expended on charitable activities. Unrestricted funds at the yearend amounted to £79,695 (2022 - £90,441 ). Restricted funds at the yearend amounted to £4,463 (2022 - £10,463 ). Charity reserves amounted to £78,378 (2022 - £87,854)
The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be between three to six months' worth of the resources expended, although it is expected the amount will sometimes be higher than this depending on the timing of donations. At this level, the Trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. In the event of such an occurrence, it would obviously be necessary to consider how the funding would be replaced or activities changed. The reserves at year end are in excess of this target amount, but they have reduced during the year and the Trustees are confident that they will not prove excessive in the long run.
Risk management
The trustees and directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The directors have implemented a risk management strategy which comprises:
An annual review of the risks which the charity may face; and
the establishment of systems and procedures to mitigate those risks identified in the plan; and
the implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise.
Fund Raising
The charity relies on gifts and donations from individuals and churches. It does not receive any routine income from denominations or organisations. It does not charge for its work other than the covering of certain expenses such as travel costs.
As a routine, the Charity does not fundraise although keeps supporters informed of our financial standing. Funds are received from legacies for which we are very grateful.
The organisation is a charitable company limited by guarantee incorporated, in England and Wales, on 21 February 1989 and subsequently registered with the Charity Commission on 11 April 1989. The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association, amended by special resolution on 16 April 2013 to comply with the provisions of the Companies Act 2006.
The members of the board of trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Trustees
Jeremy Borton resigned as Trustee and he was eventually replaced by Tony Males, a long-time supporter of TFM.
It was also agreed by the board to approach and appoint Philip Keeble, a Pastor with whom we have worked in Basingstoke. However, he will not take up his role until Jan 2024.
We continue to seek further trustee appointments to improve the strength of the board.
A staff and trustees away day was held in September 2023 instead of our usual 2/3-day retreat.
Governance and management
The day-to-day Charity management is delegated to senior staff.
The annual staff salaries review is discussed by the full Trustee board following recommendations made by the charity Administrator.
The trustees' report was approved by the Board of Trustees And Directors.
I report to the trustees and directors on my examination of the financial statements of Through Faith Missions (the charity) for the year ended 31 December 2023.
As the trustees and directors of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Ms J Boatfield ACA, DChA
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
In the application of the charity’s accounting policies, the trustees and directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Through Faith Missions is a private company limited by guarantee incorporated in England and Wales. The registered office is 18 Tannery Road, Sawston, Cambridge, CB22 3UW.
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees and directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees and directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees and directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Investments
Income from charitable activities
Missions
Conferences and Training Events
Sales of Literature and Customised goods
Wages and salaries
Social Security costs
Pension contributions
Missions
Conferences and Training Events
Literature and Customised Goods
Office expenses
Publicity and Printing
Motor Expenses and Travelling
Independent examiner's fees
Other accountancy fees
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The average monthly number of employees during the year was:
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
1 January 2022
1 January 2023
31 December 2023
There were no disclosable related party transactions during the year (2022 - none).