IEF International - Charities report - 18.1
IEF International - Charities report - 18.1
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 30 December 2017 |
| for |
| IEF International |
| IEF International |
| Contents of the Financial Statements |
| for the Year Ended 30 December 2017 |
| Page |
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 11 |
| IEF International |
| Report of the Trustees |
| for the Year Ended 30 December 2017 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with |
| the financial statements of the charity for the year ended 30 December 2017. The trustees have adopted the provisions of |
| 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 2015). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The company principal objectives are: |
| - the advancement of education |
| - the advancement of citizenship and community development |
| - the advancement of the arts, heritage, culture or science |
| - the advancement of religion |
| - the advancement of environmental protection or improvement |
| IEF-Internationals' focus is on the development of the Evangelical and Messianic body in Israel as a community. The |
| objective continues to be a desire for this community's needs to be met and for the community to impact on the nation of |
| Israel and its component societies. |
| John Sode-Wodhead is IEF-Internationals' representative in Israel. John is officially employed by NCMI but with the |
| long-term objective of being employed by IEF-International and seconded to NCMI. IEF-International has aimed at |
| assuming much of John's non-salary expenses, both contractual and work related. John's official position with NCMI is |
| that of "Senior Advisor" and in this role he reports to the NCMI CEO in Norway. |
| In keeping with its objectives IEF-Internationals' focus continues to focus on education, but has also begun to engage in |
| other community building activities, and at this stage the development of professional networks. IEF-International |
| supports local endeavours in Israel through John's ministry, prayer, advise and projects. IEF-International partners with |
| the Norwegian Church Ministry to Israel (NCMI) and works with a wide range of Evangelical and Messianic registered |
| not-for-profit organisations in Israel. Most of these organisations are related in some form to education, professional |
| networks and community development. |
| Other activities include, developing a network of international supporters; creating opportunities for Scottish |
| Evangelicals to benefit educationally from the ministry in Israel; and the establishment of an international network of |
| Evangelical Biblical archaeologists. |
| John Sode-Woodhead's responsibilities and areas of activity include (which are agreed on and compatible to the |
| objectives of both NCMI and IEF-International): Giving strategic and management advise to NCMI; mentoring leaders |
| within related organisations; development of professional networks; supporting the development of the Evangelical and |
| Messianic community in Israel; and biblical archaeology. |
| In addition to John's work, IEF- International also supported the translation fo Makram Misherkey's PhD thesis from |
| Hebrew to English on Jesus in early Islamic thought; and ran the first annual Pilgrimage tour to Israel of Scottish and |
| Swiss supporters. |
| IEF-International is still to produce a development plan for raising funds, and increase the number of its directors. |
| During the year John Sode Woodshead was able to visit Scotland and conduct a week long mini-tour visiting churches |
| and supporters. The tour covered meetings in Inverness, Oban, Perth, Irvine and Edinburgh and was well received. |
| Plans for 2018 include completion of the translation of Misherkey's PhD thesis, launching a counselling programme for |
| leaders of Israeli partner organisation facing burnout; and inviting the CEO of the network for marketplace professionals |
| to speak to Scottish Evangelical professional and marketplace leaders at the Scottish Parliament.The next pilgrimage |
| tour has had to be postponed until 2019. |
| The Board of Trustees would like once more to express their sincere thanks to John Sode Woodhead for his dedication, |
| to the vision of IEF. |
| IEF International |
| Report of the Trustees |
| for the Year Ended 30 December 2017 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by |
| guarantee, as defined by the Companies Act 2006. |
| IEF-International was founded in 2009 to serve and support the work of the Israel Education Forum registered as a |
| charity in Israel as the 'Forum leChinuch Miqrai' (Amuta No. 580518017). In June 2013 it was decided, by mutual |
| agreement, that as the IEF-International Chief Executive was no longer serving as Chief Executive to the Forum |
| leChinuch Miqrai, to create distance between both charities by 'demerging' their Boards. |
| The Board of Trustees of IEF-International is responsible for the governance and oversight of the organisation's |
| activities. Trustees oversee the affairs of IEF-International and ensure that funds are used in accordance with the |
| charity's objects as defined in its Memorandum & Articles. As the IEF-International is an Evangelical Christian, Bible |
| based organisation, trustees have a responsibility to work together to discern God's will for the direction and |
| development of the organisation. The Board meets at least four times per year. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| - resigned 3.4.17 |
| Company Secretary |
| Independent examiner |
| June Sinclair |
| Institute of Chartered Accountants of Scotland |
| J S Accounting Services Limited |
| EDINBURGH |
| EH10 5LZ |
| Solicitors |
| Maclay Murray & Spens LLP |
| 1 George Square |
| GLASGOW |
| G2 1AL |
| Bankers |
| HSBC plc |
| IEF International |
| Report of the Trustees |
| for the Year Ended 30 December 2017 |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| IEF International |
| I report on the accounts for the year ended 30 December 2017 set out on pages five to eleven. |
| Respective responsibilities of trustees and examiner |
| The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities |
| and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's |
| trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It |
| is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular |
| matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations |
| 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts |
| presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and |
| seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all |
| the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by |
| the accounts. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention: |
| (1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
| - | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
| - | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
| have not been met; or |
| (2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
| June Sinclair |
| Institute of Chartered Accountants of Scotland |
| J S Accounting Services Limited |
| 13-15 Morningside Drive |
| EDINBURGH |
| EH10 5LZ |
| 25 September 2018 |
| IEF International |
| Statement of Financial Activities |
| for the Year Ended 30 December 2017 |
| 30.12.17 | 30.12.16 |
| Unrestricted fund |
Restricted funds |
Total funds |
Total funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 5,334 |
| CONTINUING OPERATIONS |
| All income and expenditure has arisen from continuing activities. |
| IEF International |
| Balance Sheet |
| At 30 December 2017 |
| 30.12.17 | 30.12.16 |
| Unrestricted fund |
Restricted funds |
Total funds |
Total funds |
| Notes | £ | £ | £ | £ |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 13,903 | 5,334 |
| Restricted funds | - |
| TOTAL FUNDS | 5,334 |
| IEF International |
| Balance Sheet - continued |
| At 30 December 2017 |
| The charitable company is entitled to exemption from audit under |
| Section 477 of the Companies Act 2006 for the year ended 30 December 2017. |
| The members have not required the company to obtain an audit of its financial statements for the year ended |
| 30 December 2017 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| These financial statements have been prepared in accordance with the |
| special provisions of Part 15 of the Companies Act 2006 relating to |
| charitable small companies. |
| The financial statements were approved by the Board of Trustees on |
| IEF International |
| Notes to the Financial Statements |
| for the Year Ended 30 December 2017 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been |
| prepared in accordance with the Charities SORP (FRS 102) '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 2015)', |
| Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost |
| convention. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it |
| is probable that the income will be received and the amount can be measured reliably. |
| Expenditure |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the |
| charity to that expenditure, 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 accounted for on an accruals basis and has |
| been classified under headings that aggregate all cost related to the category. Where costs cannot be directly |
| attributed to particular headings they have been allocated to activities on a basis consistent with the use of |
| resources. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Fixtures and fittings |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions |
| arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| 2. | OTHER TRADING ACTIVITIES |
| 30.12.17 | 30.12.16 |
| £ | £ |
| Fundraising events |
| 3. | INVESTMENT INCOME |
| 30.12.17 | 30.12.16 |
| £ | £ |
| Deposit account interest |
| IEF International |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 December 2017 |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| 30.12.17 | 30.12.16 |
| £ | £ |
| Trustees' salaries |
| Trustees' expenses |
| 30.12.17 | 30.12.16 |
| £ | £ |
| Trustees' expenses |
| 5. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 30.12.17 | 30.12.16 |
| No employees received emoluments in excess of £60,000. |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted fund |
Restricted funds |
Total funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 2,457 | 7,500 | 9,957 |
| TOTAL FUNDS CARRIED FORWARD | 5,334 | - | 5,334 |
| IEF International |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 December 2017 |
| 7. | TANGIBLE FIXED ASSETS |
| Fixtures and fittings |
| £ |
| COST |
| At 31 December 2016 and 30 December 2017 |
| DEPRECIATION |
| At 31 December 2016 and 30 December 2017 |
| NET BOOK VALUE |
| At 30 December 2017 |
| At 30 December 2016 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.12.17 | 30.12.16 |
| £ | £ |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.12.17 | 30.12.16 |
| £ | £ |
| Other creditors |
| 10. | MOVEMENT IN FUNDS |
At 31.12.16 |
Net movement in funds |
At 30.12.17 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 5,334 | 8,569 | 13,903 |
| Restricted funds |
| PhD Translation | - | 3,817 | 3,817 |
| TOTAL FUNDS | 12,386 | 17,720 |
| IEF International |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 December 2017 |
| 10. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 62,752 | (54,183 | ) | 8,569 |
| Restricted funds |
| PhD Translation | 3,817 | - | 3,817 |
| TOTAL FUNDS | ( |
) | 12,386 |
| Comparatives for movement in funds |
At 31.12.15 |
Net movement in funds |
At 30.12.16 |
| £ | £ | £ |
| Unrestricted Funds |
| General fund | 2,457 | 2,877 | 5,334 |
| Restricted Funds |
| Personal Donation | 7,500 | (7,500 | ) | - |
| TOTAL FUNDS | 9,957 | (4,623 | ) | 5,334 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 8,827 | (5,950 | ) | 2,877 |
| Restricted funds |
| Personal Donation | 7,500 | (15,000 | ) | (7,500 | ) |
| TOTAL FUNDS | 16,327 | (20,950 | ) | (4,623 | ) |
| A donation of £7,500 was made in the year that was restricted for John Sode-Woodhead's personal expenditure |
| in moving to Israel. |
| 11. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 30 December 2017. |