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← The Evangelical Library

2025-06-30-accounts

Charity number: 1040175

The Evangelical Library

Trustees Annual Report and Financial Statements

For the year ended 30 June 2025

The Evangelical Library

Trustees Report and Financial Statements For the year ended 30 June 2025

Contents Page
Legal and Administrative Information 1
Trustees Annual Report 2 - 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the financial statements 8 - 13

The Evangelical Library Trustees Report and Financial Statements For the year ended 30 June 2025

Legal And Administrative Information

Charity registration number 1040175

Trustees

The Trustees who served during the the year were as follows:

Rev G B Brady Chairman
Dr I M Densham Vice Chairman
Dr J B Hall Resigned 15 January 2025
Col. D V Underwood
Mr F M J Raynsford
Mrs S E Marshall Resigned 29 March 2025
Rev CRH Kilgour Resigned 20 January 2026
Mr N L Hopkins
Mr S K Evers
Mr G F Stephenson
Mr K Berry
Mr R W Fay Appointed 29 September 2025
Registered Office 5/6 Gateway Mews
Ringway
Bounds Green
London
N11 2UT
Bankers CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Investment Managers CCLA Investment Management Limited
One Angel Lane
London
EC4R 3AB
Independent Examiner D C S Cooke MA (Oxon), FCA, FCIE
David Cooke & Co
5 Briar Close
Banbury
Oxon
OX16 9DS

1

The Evangelical Library Trustees Report and Financial Statements For the year ended 30 June 2025

Trustees Annual Report

The Trustees present their Annual Report and the independently examined Financial Statements of the Library For the year ended 30 June 2025.

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 Library's governing document, the Companies Act Practice applicable to charities preparing their financial statements in accordance with the Financial

Structure, governance and management

The library is a Trust, constituted and governed by its Trust Deed dated 6 June 1994.

Its objective is to advance public education of evangelical Christianity in the United Kingdom and overseas through the maintenance of a library and an archive of unique historical books, manuscripts and other literature for use by ministers of religion, theological students and the general public.

The Trustees manage the affairs of the Library and meet regularly to discuss and review its financial and operational affairs. New Trustees are appointed by existing Trustees.

Prior to nomination, the Chair meets with prospective Trustees to brief them about the role and the expectations and responsibilities of becoming a Trustee. Following appointment, new Trustees are introduced to their new role and given copies of the Trust Deed a guide to the policies and procedures adopted by the Library. A number of publications from the Charity Commission are also provided including guidance on charities and public benefit.

This ensures that new Trustees are aware of the scope of their responsibilities under the Charities Act. Trustees are recruited to and provide leadership on specific roles such as finance, educational matters, safeguarding and social action.

Public benefit statement

The Trustees are aware of the Charity Commission's guidance on public benefit and have regard to it in the administration of the charity.

They believe that the Library provides benefit to the public by providing resources of both historical and contemporary evangelical literature for anyone who seeks to know more about Christianity.

Financial review

Overall income for the year is marginally lower than the previous period, largely on account of lower donations and legacies. Overhead expenses continue to be tightly controlled and a 13% decrease from the previous period was achieved. However, the Library experienced a decline in investment values, resulting in an overall unrealised loss for the year of £17,149 compare to an overall unrealised gain in the previous year of £38,718. As a result there was a net deficit for the year of £49,207 (2024: £2,563), as shown in the Statement of Financial Activities on page 6.

The Balance Sheet on page 7 shows net assets of £1,298,437 (2024: £1,347,643).

2

The Evangelical Library Trustees Report and Financial Statements For the year ended 30 June 2025

Review of activities during the year 2024-2025

The Trustees extend a sincere thank you to the many individuals, volunteers, donors, funders, and organisations who have supported the Library during the last financial year. Their support is very much appreciated. Thank you so much.

The Trustees continue seek to increase membership and usage by promoting the value of the library's collection of sound reformed and evangelical books and periodicals, by focusing on targeted outreach, strategic partnerships and by an enhanced physical and digital presence.

The "Lunchtime Lectures" continue to be held mainly on Zoom and are well attended.

Future Plans And Challenges

The Library continues to face any challenges - not least of which is the availability of free online e-books and a decline in book reading. This has contributed to fewer people making use of the Library.

The Trustees continue to seek ways of raising the public profile of the Library and look for ways to increase the day to day income of the library in the years to come, with a view to achieving a break even without being dependent on legacies and investment income.

Reserves policy

The Trustees reserves policy is to accumulate and retain prudent levels of funds in order to expand the work of the Library. The Trustees consider the current level of reserves to be adequate for this purpose.

Risk management

The Trustees are responsible for ensuring that the Library has a risk framework that identifies, assesses and manages risks to which it may be exposed. They have examined the major strategic business and operational risks which the Library faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to minimise these risks.

Financial instruments

The Library's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.

Cash flow risk

The Library's activities do not expose it to the financial risks as commitment to expenditure is only made when funds are available.

Credit risk

The Library's principal financial assets are bank balances. The Library does not have a credit risk as it has no trade receivables.

Related parties

No trustee received any remuneration or claim for expenses during the reporting period.

The Library has a clear policy that any activities which could result in a perceived conflict of interest are fully declared as and when relevant.

Independent examiner

A resolution will be tabled at the next Trustees' meeting to reappoint David Cooke as the independent examiner.

3

The tvanKEllcal Library Trustees Report and FinarKial Statements For the year ended JO June 1025 Statemert ol Trust••s' responsibiliti@s The trustees are responsible for prepanng (he irustees. report and the financial statements for each Tinancial period which give a tfue and labr view of ihe charity's state ol arfairs as ai the balance sheet ate and of Its linanci313itivities for Ihal peiiod In p¥eparing those Iinanci31 st3lemenis Ihe irusiees are required to. select 5Ultable accounting policies and then apply them con51siently.' observe the meihods and principles in the Charilie5 SORP: make judgements and estimates that are reasothable and prudent.. ÉtAtp whpthpr applicable accounting standard5 have been tollowed. subiea io any maierial depanLtres disclosed and e¥plained in the financial statements- and prepare the financial statements on a going concem basis unless li is Inappropiidte lu yirsvffte that the Library will continue in business. The Trustees are responsible for keeDinR Droper accountinR records that are sufficient to Show and explain the Iransactions and disc105e wilh reasonable accuracy at any lime the financiol position of the charity and enable them to ensure that thè financial statemènts comply wilh the Charities Act 2011. Thev are also responsible tor saleguarding the charily'S asseTS ana hence lor takiii¥ VedJvnable 5tep> for the prevention and deiection of fraud and oiher irregularilies. Signed on behalf of the Trustees.. ady Chair Oated- 19 FÈbru3ry 2026

Independent Examiner’s Report to the Trustees of The Evangelical Library

I report on the accounts of the charity for the year ended 30 June 2025, which are set out on pages 6 to 13.

Respective responsibilities of trustees and independent examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the Act)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 the seeking of 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, no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or

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 accounts to be reached.

D C S Cooke MA (Oxon) FCA FCIE David Cooke & Co 5 Briar Close Banbury OX16 9DS Date: 10 March 2026

5

The Evangelical Library

Trustees Report and Financial Statements For the year ended 30 June 2025

Statement of Financial Activities

Notes
Incoming resources
Income and endowments from:
Charitable activities
2
Donation and legacies
2
Investments
2
Total income and endowments
Resources expended
Expenditure on:
Raising funds
3
Charitable activities
4
Total expenditure
Net (outgoing) resources
Unrealised (losses)/gains on investments
Net movement in funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
funds
£
19,963
12,465
10,481
42,909
76
74,890
74,966
(32,058)
(17,149)
(49,207)
1,344,938		 Unrestricted
funds
£
19,963
12,465
10,481
42,909
76
74,890
74,966
(32,058)
(17,149)
(49,207)
1,344,938		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
2,705		 2025
Total
2024
Total
£
£
19,963
20,825
12,465
13,615
10,481
10,898
42,909
45,338
76
178
74,890
86,441
74,966
86,619
(32,058)
(41,281)
(17,149)
38,718
(49,207)
(2,563)
1,347,643
1,350,206
1,298,437
1,347,643
1,295,732 2,705

6

The Evangelical Library Trustees Report and Financlal siatements For the ¥eaf ended 30 June 2025 Balance Sheet Unrestrirted funds Restricted funds 2025 Total 2024 Total Notes Fl¥ed assets Tangible a55ets io 929.610 929,610 929,610 929.610 930,901 93Q,901 Current a55ets Debtors Investment5 Cash in hand and at bank li 12 5,394 336,792 26.223 368,409 5.394 336.792 28.928 371.114 5,355 403,941 9,725 419,020 ?.705 2.705 Creditors- amounts falling due wlthln one yèar Net current assets 13 2,287 366.122 2.287 368,827 2,278 416,742 2.705 Pjpt a4#￿tS 1,295.732 2.705 1,298.437 1.347,643 Funds Fund5 of the charity Restricted funds Unrestricted funds Total funds 14 2.705 2,705 1.295.732 1,298.437 2.705 1,344.938 1.347,643 14 1.295.732 1,295,732 2.705 These fin3n¢ial statemen15 were approved by the trustees on 19 February 2026 and si8ntd on their behalf by.. 8rady Chairman

The Evangelical Library Trustees Report and Financial Statements For the year ended 30 June 2025

Notes to the Financial Statements

1. Accounting policies

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Charities S0RP (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) and the Charities Act 2011. The financial statements have been prepared to give a "true and fair" view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair" view. This departure has involved following the Charities S0RP (FRS 102).

The Evangelical Library meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Disclosure exemptions

The Library is a small charity, as defined by FRS 102, and has taken advantage of the exemption available in paragraph 1.12 of FRS 102 not to present a cash flow statement

1.3 Going concern

The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern. Thus, taking into consideration the Charity's level of reserves, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

The value of donated services and volunteer help is not included in the financial statements.

8

The Evangelical Library Trustees Report and Financial Statements For the year ended 30 June 2025

Notes to the Financial Statements (continued)

1.5 Expenditure

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. The library is registered for VAT and accordingly expenditure only includes any VAT which cannot be recovered and is included in the relevant costs in the statement of financial activities.

Expenditure on charitable activities comprises resources applied to meet the charitable purposes of the Library, namely Custodianship, Research, Learning, and Public Lending.

Direct Library expenditure comprises the costs associated with attracting voluntary income, the costs of trading for fundraising purposes and those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity.

Governance costs are those costs incurred in connection with the general governance of the Library including compliance with constitutional and statutory requirements.

1.6 Interest receivable

Interest on funds held on deposit is recognised when it is receivable and when the amount can be measured reliably, which is normally when it has been notified by the bank.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

The charity's freehold property comprises land and buildings including subsequent improvements to the property. Depreciation is not charged on the land element, which is instead subject to impairment review.

No depreciation charge is made against the building and improvements as it is considered that the residual value of these is at least as great as the carrying value and not materially different to cost. The charity operates a rolling repairs and maintenance programme to prolong

No depreciation is provided on the book collection as they are deemed to be heritage assets with an indefinite life.

All other tangible fixed assets are initially stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

1.8 Taxation

The Library is registered as a charity and is not liable to United Kingdom income or corporation tax on its income from charitable activities as they are applied wholly to charitable objectives.

1.9 Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

9

The Evangelical Library

Trustees Report and Financial Statements For the year ended 30 June 2025

Notes to the Financial Statements (continued)

1.10 Investments

Current asset investments are a form of financial instrument and are initially recognised at the transaction cots and subsequently at fair value ate the balance sheet date, unless the value cannot be measured reliably, in which case it is measured at cost less impairment. investment gains and losses, whether realised or unrealised, are combined and presented as "unrealised gains/(losses) on investments" in the statement of financial activities.

1.11 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.12 Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.13 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments, Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.14 Pensions

The Library operates a workplace pension scheme in respect of its employee and contributes to his personal pension plan. The pension cost charge represents contributions payable by the Library to this pension plan.

1.15 Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of any of the Charity's purposes.

Restricted funds are funds which are subject to specific conditions by donors 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.

1.16 Key sources of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. The main source of estimation uncertainty is considered to be the calculation of depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

10

The Evangelical Library

Trustees Report and Financial Statements For the year ended 30 June 2025

Notes to the Financial Statements (continued)

2
Analysis of incoming resources
Income from charitable activities
Subscriptions
Sales of books
Other
Donations and Legacies
Donations
Tax-efficient planned giving
Legacies
Investment income
Bank interest
Investment income
Total incoming resources
3
Analysis of cost of raising funds
Advertising and website costs
4
Analysis of resources expended
Expenditure on:
Charitable activities
Staff costs (note 5 below)
Books and periodicals
Insurances
Lighting and heating
Telephone and internet
Postage
Equipment repair and maintenance
Building repair and maintenance
Business rates
Rent and service charges
Printing, stationery and consumables
Support costs (note 6 below)		 Unrestricted
£
16,268
2,697
998
19,963
Unrestricted
£
8,808
3,657
-
12,465
Unrestricted
£
359
10,121
10,481
42,909
Unrestricted
£
76
76
Unrestricted
£
37,718
134
4,923
5,922
1,125
1,355
366
2,517
9,170
4,390
1,728
5,542
74,890		 Restricted
£
-
-
-
-
Restricted
£
-
-
-
-
Restricted
£
-
-
-
-
Restricted
£
-
-
Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 2025
Total
£
16,268
2,697
998
19,963
2025
Total
£
8,808
3,657
-
12,465
2025
Total
£
359
10,121
10,481
42,909
2025
Total
£
76
76
2025
Total
£
37,718
134
4,923
5,922
1,125
1,355
366
2,517
9,170
4,390
1,728
5,542
74,890		 2024
Total
£
16,924
2,902
999
20,825
2024
Total
£
9,319
3,296
1,000
13,615
2024
Total
£
456
10,442
10,898
45,338
2024
Total
£
178
178
2024
Total
£
53,265
236
4,967
3,571
733
1,694
6
1,920
8,956
3,454
1,278
6,361
86,441

11

The Evangelical Library

Trustees Report and Financial Statements For the year ended 30 June 2025

Notes to the Financial Statements (continued)

5 Staff Costs

Salaries
Contributions to defined contribution pension schemes
No employees during the year received employee benefits of more than £60,000.
The average number of persons employed by the library during the year was
6
Support costs
Software and IT costs
Governance costs (note 7 below)
Depreciation
Finance costs
Other costs (note 8 below)
7
Governance costs
Independent examiners fees
8
Other costs
Sundry expenses
Irrecoverable VAT
Gifts		 2025
£
36,880
838
37,718
2
2025
£
3,109
700
1,291
61
381
5,542
2025
£
700
700
2025
£
137
244
-
381		 2024
£
45,892
7,373
53,265
2
2024
£
2,971
750
1,476
68
1,097
6,361
2024
£
750
750
2024
£
172
425
500
1,097

9 Trustee remuneration and expenses

No Trustees received reimbursement of any expenses during the year nor in the previous year.

10 Tangible fixed assets

Cost or valuation
At 1 July 2024
At 30 June 2025
Depreciation
At 1 July 2024
Charge for year
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024		 £
887,770
887,770
-
-
-
887,770
887,770
Freehold
premises		 £
68,421
68,421
58,092
1,291
59,383
9,038
10,329
Furniture,
fittings &
equipment		 £
32,802
32,802
-
-
-
32,802
32,802
Books		 Total
£
988,993
988,993
58,092
1,291
59,383
929,610
930,901

12

The Evangelical Library

Trustees Report and Financial Statements For the year ended 30 June 2025

Notes to the Financial Statements (continued)

11 Debtors

==> picture [525 x 66] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Prepayments and accrued income|4,088|4,323| |Gift aid and VAT recoverable|1,306|1,032| |5,394|5,355|

----- End of picture text -----

No amounts were due in more than one year.

12 Investments

==> picture [525 x 184] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |Unrestricted|Restricted|Total|Total| |£|£|£|£| |-| |Market value at 1 July 2024|403,941|403,941|365,223| |-|-| |Disposals|(50,000)|(50,000)| |-| |Net (loss)/gain on revaluation|(17,149)|(17,149)|38,718| |Market value at 30 June 2025|336,792|-|336,792|403,941| |Creditors: falling due within one year| |2025|2024| |£|£| |Taxes and social security|554|-| |Accruals|1,733|2,077| |Other creditors|-|201| |2,287|2,278|

----- End of picture text -----

13 Creditors: falling due within one year

14 Funds

Restricted Funds

==> picture [525 x 78] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Balance at 1|Incoming|Resources|Balance at 30| |July 2024|resources|expended|Transfers|June 2025| |£|£|£|£|£| |-|-|-| |Christian Herald Digitalisation Fund|1,955|1,955| |Publicity DVD Fund|500|-|-|-|500| |Bursary Fund|250|-|-|-|250| |-|-|-| |2,705|2,705|

----- End of picture text -----

The Christian Herald Digitalisation Fund is for the purpose of digitising, for preservation and storage, the Christian Herald newspaper archive from 1874 to 2006.

The Publicity DVD Fund is for the purpose of producing DVD's to publicise the Library.

The Bursary Fund is for the purpose of assisting Ministers of Religion and theological students pursue theological studies.

Unrestricted Funds

==> picture [521 x 55] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Balance at 1|Incoming|Resources|Balance at 30| |July 2024|resources|expended|Unrealised gain|June 2025| |£|£|£|£|£| |General Fund|1,344,938|42,909|(74,966)|(17,149)|1,295,732|

----- End of picture text -----

Unrestricted general funds may be spent generally for furthering the Library's activities.

15 Related party transactions

There were no transactions with related parties in the year ended 30 June 2025 nor in the period ended 30 June 2024.

13