Charity registration number 1041237 (England and Wales) Charity registration number SC038860 (Scotland) Company registration number 02883771 THE CHRISTIAN TRUST ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE CHRISTIAN TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M J M(K)re MrP Chambron MrPARyan Mr R W Steel Mr K B Bandy seetary MrRHay Charity number (England and Wales) 1041237 Charity number (Scotland) SC038860 Company number 02883771 Registered office Ellel Grange Ellel Lancaster Lancashire LA2 OHN The charity is incorporated in England and Wales Auditor Xeinadin Audil Limited 116 Dukestreet Liverpcol L1 Bankers Barclays Bank F PO Box 6193 Basingstoke Hants RG21 3RX Natwesl Bank plc PO Box 94 64 Church Street Lancaster LA1 1EZ Solicitors Oglethorpe Sturton and Gillibrand 16 Castle Park Lancaster Lancashire LA1 1YG Anthony Collins 134 Edmund Sireet Birmingham B3 2ES
THE CHRISTIAN TRUST CONTENTS Page Trustees Report Independent Auditorfs RetMIrt 10-12 Consolidated Statement of Financial Activitses 13 Consolidated Balan Sheet 14 Balance Sheet 15 Consolidated Statement of Cash Flows 16 Notes to the Financial Statements 17-37
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees (who are also Direclors of the Charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of The Chrisb'an Trust (the chantyl for 1 January 2024 to 31 December 2024. The Trustees confimi that the annual report and financial statements of the charity and the group comply with the current statutory requirements, the requiremenls of the charity and the group's goveming document and the provisions of the Statement of Recommended practs" {SORP): 'Acu)unling and Reporting by Charities. effective 1 January 2019. The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the financial statements and comply with the charity's goveming document, the Companies Act 2006, the Charities and Trustee Investment {Scotlandl Act 2005. the Charities Accounts (Scotlandl Regulations 2006. FRS 102'The Financial Reporting Standard applicable in the UK and Republicof Ireland" and the Charities SORP'Accounting and Reporting by Charities.. Statement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" The Charity also trades under the name Ellel Ministries and cuentlY operate out of the following UK centres.. Ellel Grange, Bay Horse, Ellel, Lancaster. L42 OHN Telephone.. 01524 751 651 Email= info. ran ellel.o Glyndley Manor, Slone Cross, Pevensey, Sussex, BN24 58S Telephone.. 01323 440 440 Email: info. ran ellel.or Blaimiore House. Glass. Hunuy. Aberdeenshire. AB54 4XH Telephone.. 01466 799 102 Email= info.scolland ellel.o Information can also be obtained from the charity's website htt s=Ilellel.uk Objectives and activities The Chrislian Trust was established as a registered charity in 1977 and incorporated as a company in 1993. The Christian Trust operates as Ellel Ministries and is a non4enominational Christian Mission organisation with a vision to resource and equip the Church by providing training and personal ministry in Christian healing and discipleship. We aim lo bring hope, healing and wholeness to the Body of Christ and further equip the Church worldwide through the principles outlined in Luke 9..11 where Jesus welcomed the people, taught them about the Kingdom of God and healed those who were in need. Mission Statement The mission of the Trust is lo fulfill this vision throughout the world. as God opens the doors, in accordan with the Great Commission of Jesus and the calling of the Church to proclaim the Kingdom of God by preaching the good news, healing the broken-hearted and setting the capb'ves free. The Tnjst is therefore committed to evangelism. healing, deliverance, discipleship, and training. The Board of The Christian Trust is supported by the Executive Leadership.
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Principal Activilies and Main Objectives The Christian Trust offers, without charge, opportunities for personal prayer by holding evening events, running healing relreats and through personal ministry appointrnents. There are also a wide variety of other free events and materials offered. The help received enables individuals to overcome spiritual. emolional, and sometimes physical problems and difficulties in their lives and enables them to have more productive and fulfilled lives. The Trust eqLJiPS Others by offering training in Christian healing and discipleship through conferences, short courses, longer term programs and Ihrough the production and distribution of teaching material (audio. video and books.) The training offered equips individuals and the Church in how to pray for and help others. The main objective of the Trust is to continue to help people by offering prayer ministry and training in its established UK and overseas Cenlres and to develop the work to offer similar opportunities for prayer minislry and training in other Regions and Countries of the world. The Trust has refeed to the guidance on public benefit provided by the Charity Commission when reviewing its objectives and planning future activities. While this report is correctly focussed on the UK Registered Charity. it should be noted that there are a number of countries around the worfd where teaching and ministry under the Ellel Ministries umbrella takes place and the nature of this work is currently in the process of re-shaping. A robust structure of Regional Directors has been established to support and monitor these financially independent operations. During the latter part of 2024 serious discussions began about the viability of our trK)ok publishing subsidiary. Sovereign Wodd Lld. Profitability had been a challenge for many years, and the losses had reached unsustainable levels. An insolvency report was commissioned through an independent accounts.ng fimi early in 2025 which confimied that Sovereign Wodd Ltd was insolvent. Steps were therefore taken lo place Sovereign World Ltd into volunlary liquidation, and this look place in March 2025. Alongside this decision was the development of a new strategy for the continued sale and publication of books through the charity. rather than through a subsidiary company. This would continue the objectives of the charity but would do so in a more efficient and cost-effective way. An effective measurelindicator for detemining the ongoing health of the Charity's work, is the financial perfomance of the centres, the number of events laid on and attendance of said events. and last but not least. adequate and effective staffing of each cenlre. With respecl lo our operational aclivities, our primary aims and objectives remain unchanged. The Chapel which stands in the grounds of Ellel Grange has been derelict ever since the property was acquired by the Charily in 1986. The Trustees desire to restore the building before further dereliction occurs. Planning permission was obtained in March 2019 but expired in March 2022 because the project had not commenced. This was primarily due to the Covid-19 pandemic wilh resources diverted to 5uslain the charity through unprecedented times. However. there remains a desire to restore the chapel and a fresh planning permission application was submitted and approved by Lancaster City Council on 20 February 2024. On 19 February 2024 the proposed development on land surrounding Ellel Grange was refijsed by the Lancaster City Council Planning Development Committee. The Trustees have subsequently heard that the land owner now intends to sell the land in question. The Tnjstees continue to keep a dose watch on all potential future developments and will respond as necessary.
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Public Benefrt The Trustees have had regard to the Charity Commission's guidance on public benefft. The events organised and the services offered by the Charity are open to anyone upon the understanding thal the teaching and prayer ministy offered to them will be Christian. The programme of events organised are advertised on the website https.'Ilellel.uk. Through the application of teaching and Christian prayer ministry, individuals struggling with a variety of problems are helped to understand the roots of these problems and deal effectively with them so as to be able to live a more fulfilled life. Equal access to the ministry is important to the Trustees. The Trust continues to charge for teaching courses whilst continuing to make personal ministry available free to the public regardless of ra, gender, disability, or sexual orientation. The Trust relies on donations from supporters and sponsors to cover the costs of personal ministry as well as other free or discounted events. Through training courses and longer-temi programs attendees are taught how to minister and bring help and healing to those struggling wilh issues in their lives by the application of Biblical truth. Guests al Ellel Ministries events include pastors. missionaries. members of Church ministry teams and individuals seeking help and training in the Christian healing ministry. The Trust sponsors a number of delegates from developing countries on longer programs. Feedback (written and verbal) from people who have been helped by the Charity confims that the work of the Charity is posilively irnpacting individuals, lives. The majority of those coming for help do so as a direct result of personal recommendation by someone previously helped by the work of the Charity. Visitors from overseas, including many third world nations. tell that what the Charity offers in the UK is desperately needed in their own counlry. The Trust receives many invitations to bring the work of the Charity to other countries. The Trustees believe that they have complied with the duty in section 17 of the Charilies Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. Our Supporters and Volunteers. Contribution The prayers and gifts of supporters, which fomi a significant part of the income of the Trust, are greaily appreciated and are vital for continuing the work. In accordance wilh the original vision, no charge is made for personal ministry as many who come would be unable to pay for the personal attention they receive. The fees charged for other courses and longer programs are also kept to a minimum lo ensure that they are accessible to as many people as possible. However, the fees barely cover the actual costs. and so the Trust is therefore dependent on donation income to make up the difference. The work of the Trust is carried out by a paid team of both full and part-lime individuals, amounting at the end of 2024 to 82 people across the Ihree UK centres. The work is further supported by around 160 volunteer ministry team members who minisler to people on healing retreats. ministry appointments and during ministry times on courses and longer-term programs. The amount of time that volunteers make themselves available to help wth the work of the Trust depends on their individual circumStanS and can vary from a few hours a month to as many as five days a week. The Trustees greally value every member of the full, part-time. and volunteer leams, appreciating their commitment to the work of the ministry and thank God for every member of the team, induding those who have since moved on to other work. The Trustees look forward to continuing this valuable work and ministry under God's guidance and enabling in the years ahead.
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Revlew of Actlvlties and Fulure Developments In 2024 the work of Ellel Ministries Intemational continued around the world. building on the foundations that have been carefully laid down by the Trustees and others in previous years. All the overseas operations, Wlth the exceplion of Ellel Hungary. are legally and financially independent, although the UK Charity periodically makes donations to help establish and support the ongoing operations of the work in less affluent countries. All overseas developments are pioneered and ftjnded locally and the are no new liabilities for the UK Charity associated with any of these extensions of the work. All the overseas treS operate according to Ihe principles laid down for the original UK operations. The summer of 2024 saw the sixth UK intake of young people on our Undivided gap year programme. and we are currently able to facilitale overseas and EU nationals joining our team for periods of up to two years, service in the UK on Temporary Worker- Religious Worker Visas. Strenuous efforts were made during 2024 to continue to increase operating efficiency and minimise unnecessary expenditure and the Trustees are grateful for all the supporters who give so generously lo maintain the work in the UK, enabling the organisation to remain financially slrong, as il spearheads the encouragement of new international developments and facilitates all that is necessary for the running of a significant wodd-wide charitable work. Fundwraising Disclosure As a faith-based organisation, the Charity relies heavily on donation income, the vast majority is donated either online ordirectlyto the Charity's designated UK bank accounts. We promote donations by a numberofapproaches including periodic appeals for financial support to those who are supporters of the work. We also adopt the use of charity boxes, and more recently tap and go contactless card donation points. in our centre reception areas for unspecified ad hoc donalions which may be given by those attending our ntre$. Occasionally we also take up free will offerings where appropriate. We actively promole our One in a Thousand and other regular giving schemes to those who come on courses or attend any of our events and wish to give a specified amounl on a regular basis to support our ongoing work. We do not use Ihe services of any professional fundraisers or commercial participators, but we do receive periodic personal donations given via Stewardship Giving Services. Charilies Aid Foundation Vouchers. and other similar donor options. This also includes online giving siles, designed to help individuals channel their personal charitable giving accordingly and in a tax efficient way. We are fully subscribed lo the slandards set by the UK Fundraising Regulator, as the Trustees consider this to be in the best interests of assuring those wishing to support our work financially. There are no known complaints conceming fundraising to ret)ort and the Trustees are mindful of the importance of continuing to protect vulnerable individuals.. therefore. care is taken to avoid unreasonable intrusion. persistence or undue pressure when seeking any fom offinancial supporL Investment Policy Under Ihe Mernorandum and Articles of Association, the Charilable Company has the power to make any investment which the Trustees see fit. Investments are made where required to further the aims and objectives of the Charity. Summary of Income and Expendituro Unrestricted Funds 2024 £2,435,498 (£2.548.362) Restricted Funds 2024 £86,811 {£103,906) Total Total Funds 2024 Funds 2023 £2,522,309 £5,483,697 {£2.652,268} 1£3.445,316) (£2,914) Total incoming reSoUS Total resoLJrces expended Other gainsllosses Transfers Net movement in funds for year £15,315 (£97,549) (£15,315) (£32,410) {£129,9591 £2.035,467
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Going Concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequale resources to continue in operational existence for the foreseeable future. For this reason. they continue lo adopt the going concern basis in preparing financial statements. Reserves Policy As a Christian Mission, The Christian Trust is committed to fulfilling a God-given vision and is dependent on the prayers and gifts of supporters for the continuation and development of the work. The three UK freehold properties currently have a market valuation in excess of their original cost and the financial security provided by the asset value of these properties is adequate to cover the foreseeable future financial eventualities. In common with many other charities, the Trust relies on a comprehensive pro$$ of budgetsry planning and ongoing financial monitoring. This enables the identification of potential problem areas and gives the opportunty to take corrective action where neSsary. Following the sale of the Ellel Pierret)ont centre in November 2023, the majority of charities debt was eliminated by the end of 2023 wth the residual remainder paid off in the first three months of 2024. The legacy of the sale of Ellel Pierrepont has left the charity with cash reserves of around £1 m at the end of 2024. These have been held in interest bearing deposit accounts pending a longer term view being taken by the Trustees on poiential investment or expenditure to further support the operations of the Charity- The total consolidated funds available as al the end of the year amounted to £5,583,879 {2023: £5,713,838) of which £168,758 12023= £201.168) is restricted in their future use. Unrestricted free reserves amounted to £5,415,121 {2023= 5,512,670). Principal Funding Income to the Trust in 2024 amounted to £2.522.309 (2023 £5.483.697). The main sources of these funds were as follows.. 23.57V/o12023'. 12.9 /ol- Trading company income including media sales 31.53 % {2023.' 22.1 % l - Charitable activities 25.17V/o {2023'. 15.10/DI- Donation income and legacies 17.76°/012023'. 49.9/0)- Sale oflangible assets forcharity use 1.97°/. {2023: 0.00 / )- Investment income Overall, there has been a net decrease in the Trust fund of £129,95912023 £2,035,467 increase). Donations During the year the group made charitable contributions to other organisations and indtviduals amounting to £133,458 (2023= £259,143}. Principal Risks and Uncertainties Details of the Charity's financial risk management objectives and policies are included in note 26 to the financial statements.
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management Constitution The Charity is registered as a company limited by guarantee without share capital and was sel up by a Memorandum of Association on 24 Dember 1993. It is registered under the Companies Act 1985, registration number 02883771. The Charity is govemed by its MemorandLJm and Arbcles of Association dated 24 December 1993, as amended by special resolutions dated 28 September 1994, 18 October 2004. 12 Septernber 2007 and 9 April 2008. Managemenl of the Charity's affairs is vested in the Trustees as Co-Directors. The principal object of the Charity is to provide training and personal ministry in Chrislian healing and dIspIeShlp. In the event of a winding-up, the present members of the Tnjst and those who have ceased to be a member within one year of such an event have guaranteed the liabilities of the company to the sum not exceeding one pound each. The memorandum and articles in effect as at 31 December 2024 state that the number of members shall not exceed fifteen and shall not be less than three. The Trustees, who are also the directors for the purpose of company law. and who served during the year and up to Ihe date of signature of the financial statements were= Mr M J Moore Mr P Chambron MrPARyan Mr R W Steel Mr K B Bandy Method of Appoinlment or Election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the temis of the Artides of Association. All newly appointed Trustees and rnembers require approval from the current Trustee Board. Pollcles Adopted for the Inductlon and Tralnlng of Trustees Newly appointed Trustees are provided with a comprehensive induction to The Christian Trust through the provision of in-house training. Pay Policy for Senior Staff Total remuneration of £35.946 {2023= £58.0601 was paid to Trustees during the year. The remuneration paid to the Trustees and other senior staff such as Centre Directors is reviewed regularly by the Trustees and the Executive Leadership of Ellel Ministries. The rates of remuneration are set in line with the respective roles carried out within the organization. The remuneration also takes into account the benefits received by the employees, for example full accommodation and board when provided. A review of pay policy took pla during 2024 resulting in some increases for lower paid staff and those living onsile at our centres.
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Organisational Structure and Decision Making The Executive Leadership, which includes all the current Trustees of The Christian Trust, is the group which direcls Ihe work of Ellel Ministries Intemalional. in accordance with the vision and mission God gave to the ministry. The Executive Leadership meets on a regular basis and the Centre Directors and their centre leadership teams manage the day-to-day operations of the Charity. The govemance arrangements of the Charity are clear in that the key body in the Charily is the Executive Leadership. However, Ihere is fvll rec(¥Jnition that tl is the Trustees who carry the legal responsibility for the Charity in the UK, and only Trustees can vote on issues concerning legalities. The Trustees hold separate meetings on a regular basis to exercise good governan of the Charity and maintain a wider oveNiew of key issues of concem to the UK Charities Commission and act accordingly. The current Executive Leadership (at the end of 2024) are as follows: MrAJ Taylor Mrs C Taylor Mr P Brokaar Mr K Bandy Mr P Chambron Mrs L Hanekom MrT Kovacs Mr M Moore Mr P Ryan Mr H Redelinghuys Mr R Steel. Related Party Transactions Transactions with related parties are disclosed in note 27 to the financial statements and in accordance with paragraph 33 of the SORP (Accounting and Reporting by Charities: Statement of Recommended Practice {effective l January 20151). Rlsk Managemenl The Truslees have assessed the major risks to which the Charity is exposed. in parbcular those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Subsidiary Companies As of 31 December 2024 in the UK the group operates through the following wholly owned subsidiary companies.. Ellel Ministries Limited - Intemiediale holding company Sovereign-world Limited - BcM)k publisher and book and other media retailer Glyndley Manor Estates Limited Managemenl of estate residences at Glyndley Manor Overseas Education Trust Limited - Inlermediate holding (xpanY med1tenean Tours Limited Facilitator of overseas tours All of the active UK subsidiaries are involved in trading both to raise additional funds for the Charity and also to further the charitable objectives. The Charity started 2023 holding approximately 73.8°A of the issued share capilal of TCT Properties No1 Limited, a company holding investment propety- Following a share buyback initiative this increased to 100 % in eady 2024. The share capital of TCT Properties No1 Limited is divided into Ordinary shares and A Ordinary sha5 of £1.000 each. the Ordinary share has as many additsonal voles as are required to defeat or pass a resolution. The Christian Trust hold the only Ordinary share in issue. On this basis it is deemed that The Christian Trust has full control over TCT Properties No1 Limited and the results of TCT Properties No1 Limiled have been included in Ihe consolidaled financial statements. The work in Hungary is undertaken through Ellel Ministries Hungary Kft, a wholly owned subsidiary ofThe Christian Trust and the Hungarian Christian Trust Magyar known locally as Kereszteny Alapitvany. In 2025 we have undertaken work to streamline the subsidiary operations by making efforls lowards winding up Sovereign World Ltd. med11eanean Tours Ltd and TCT Properties No1 Limited as they have now fulfilled the purposes for which they were originally established. The Trustees view this as prudent management of risk in the furtherance of our charitable objectives.
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Associaled Entities other overseas work is undertaken through locally incoo)orated companieslcharities established in the county that Ihe work is taking place. As at Ihe 31 Drnber 2024 the main local entities (other than subsidiaries) are.. Ellel Ministries Auslralia Lld Ellel Ministries Canada Inc Ellel Ministries Denmark Ellel Ministries Germany Ellel Ministries Lafvia Ellel Ministries Rwanda Ellel Ministries Sweden Ellel Ministries Aotearoa New Zealand Ellel ministn.es Croatia Ellel Ministries Finland Ellel Minislries India Ellel Minislries NetherlarKJs Ellel Slovenia Ellel Ministries USA Inc. Ellel Ministries Belgium Ellel Czech Republic Ellel Ministries France Ellel Ministries Kenya Ellel Ministries Norway Ellel Ministries South Africa Each entity has signed a licence agreement with The Christian Trust agreeing that their policies. practices and objectives will be in accord with those of The Christian Trust. The Trust also has appointed representatives in BelaTUS. Curacao. Serbia and Papua New-Guinea to Co-ordinate the work in those places which is generally carried out with help from other established Centres. We also have an established team working on the ground in the Ukraine. Qualifying Third Party Indemnity Provisions During the year and at the date of approval of the Directors. report. qualifying third party indemnity provisions were in place in respect of Ihe Trustees. Trustees. Responsibilities Statement The Trustees {who are also Directors of The Christian Trusl for the purposes of company lawl are responsible for preparing the Trustees, annual report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ApIed Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs ofthe Charitable Company and the group and of the incoming reSoUrS and application of resources, induding the income and expenditure, of the Charitable Group for thal period. In preparing these financial statements. the Trustees are required lo: select suitable accounting policies and then apply them conslslenY.' observe the methods and principles in the Charities SORP- make judgments and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in Ihe financial statements., prepare the financial stalements on the going concem basis unless it is inappropriate to presume that the charitable group will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts {Scotland) Regulations 2006 las amended). They are also responsible for safeguarding the asseis of the chariiable company and the group and hence for taking reasonable steps for the prevention and deteclion of fraud and other iegUlaritieS. Auditor Xeinadin Audr( Limited were appointed as auditor to the company and a resolution proposing that Ihey be re- appointed will be put at a General Meeting.
THE CHRISTIAN TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Disclosure of Information to Auditor Each of Ihe persons who are Truslees at the time when this Trustees. RetX)rt is approved has confimed Ihal.. so far as thal Trustee is aware. there is no relevant audit infomiation of which the charitable group's auditor is unaware. and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditor is aware of that information. The Trustees report was approved by the Board of Tnjstees. Mr M J Moore Chair of Trustees Dale.. Dec 17, 2025
THE CHRISTIAN TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHRISTIAN TRUST Opinion We have audited the financial statements of The Christian Trust (the 'charitable parent company,) and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the consolidated statement of financial activities, the consolidated balan sheet. the balan sheet. Ihe consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Ireland (United Kingdom Generally Accepted Accounting Practice}. In our opinion, the financial slatements- give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resour$, including its income and expenditure, for the year then ended., have been properfy prepared in accordan with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment {ScoUand) Act 2005 and regulation 8 of the Charities Accounts {Scoland) Regulations 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) IISAS IUK}) and applicable law. Our responsibilities under those standards are further described in the Auditorfs sponSibl11t1eS for the audit of the Inancial statements section of our report. We a independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial ststements in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical responsibilib'es in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audiling the financial stalements, we have concluded that the Trustees use of the going concem basis of accounting in the preparation of the financial slatemenls is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relaling to events or conditions that, individually or collectively. may cast significant doubt on Ihe charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concem a described in the relevant sections of this report. Other information The other inforniation comprises the infomiation included in the annual report other than the financial statements and our auditorfs report theon. The Truslees a responsible for the other infom)ation contsined within the annual ret)ort. Our opinion on the financial statements does rt cover the other infomiation and. except lo the exlenl otherwse explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is lo read the other infomiab'on and, in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whelher this gives rise to a material misstatement in the finanoal stalements themselves. If, based on the work we have performed, we conclude that there is a material misstalement of this other information, we are required to report that fact. We have nolhing to report in this regard. 10-
THE CHRISTIAN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE CHRISTIAN TRUST Opinions on other matters prescribed by the Companies A¢t 2006 In our opinion, based on Ihe work undertaken in the course of our audit the information given in the Trustees report for Ihe financial year for which the financial statements are prepared, which includes the directors, port prepared for the purposes of company law, is consislent with the finanaal statements- and the directors, report included within the Trustees report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audil, we have not identified malerial misstatements in the directors. report included within the Trustees report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charilies Accounts (Scotland) Regulalions 2006 require us to report to you if. in our opinion= adequate and proper accounting records have not been kept. or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the a(uunting records and retums" or certain disclosures of trustees. remuneration specified by law are not made; or we have nol received all the infomation and explanations we require for our audit., or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemplions in preparing the Trustees report and from the requirernent to prepare a strategic reporl. Responsibilities of Truslees As explained more fully in the statement of Trustees responsibilities. the Trustees, who are also the directors of the charity for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Tnjslees determine is necessary lo enable the preparation of financial staternents that are free from material misstatement, whether due to fraud or eOr. In preparing the financial statements. the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going cOnM and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do so. Audltorfs responslbilltles for the audit of the financlal statements We have been appointed as auditor under section 44{1 }Ic) of the Charities and Trustee Investment (Scolandl Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevanl regulalions made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an audilorfs report Ihal includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect 2 material misstatement when it exists. Misstatements can arise from fr8ud or error and are considered material if. individually or in the aggregate. they could reasonably be ex[Cted to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our pro(%dures are capable of detecting irregularities. including fraud. is detailed below. Identifying and assessing potential risks related to irregularities In idenlifying and assessing risks of material misstalement in respect of irregularities including fraud and on compliance with laws and regulations we have considered the following the nature of the industry and sector, control environment and business performance including the company remuneration policies, key drivers for directors remuneration, bonus levels and performance targets., results of enquiries of management about their identification and assessment of the risks and irregularities.,
THE CHRISTIAN TRUST INDEPENDENT AUDITOR'S REPORT (coKfiNUED) TO THE MEMBERS OF THE CHRISTIAN TRUST Any matters VA havè identifièd havwwj okained orKI Ihe uryanvs dO¢tiOn of their polld and procedures relatlng to: Identifyfjng. evaluating and toryA With w5 MI regulalions and they were aware of any instances of nonacompliance: detecting and responding to the rtsks of fraud they have knowledge of any actual. suspected or alleged fraud; the intemal controls established to risks offra1 or nonMplIe 7h•th laws and regulations: the matter5 di$cussed amory the audit erwement team regathw how and l)er• fraud might cmir in the financw stslw)wnts arKI any Fthntial In¢Jcators of fraud. As a resutt of these procedLWeS we ¢)SIder0d tho opportunits and incentives that may exist ithin tho oryanisalion lor fraud and identhfied the greatest potential for fraud in the folltytying areas . tlming and recognrlion of Incomè. value of stock. In common wth all audits ISAS (UK). we arn also regured to pwform Speafic Fxocedures to respond to the nsk ol managemnt oveThide. We also ¢)bta'n8d an underslwKling of the legal and regutory framew(ks that the c(¥npany operates In, focuslng on rNovisions of thoso laws and regulati that had a direct effert on the deterniination of material amounts and th'sdosur8s in the finanual statements. The key laws and re9ulatlons w8 consid8ra in this context included tho Companlos Act, Hoalth and Safety, emploJTr8nt Ivw. pensicms18gislatKm and tax18gislal1. In addits'on, we conslderod provisions of other laws and regulations that do Mt have a diract 8ffocl rffi the finanrial stat8m8nts but complkgnce wllh whl¢h may be lundament to tho cornpanvs abilty to operate or to aviml a material penalty. A further descrlptlon of our respsIbl1t1es ts avalabl8 on thè Fmndal Repordng Councll'8 webslto aL" httpsjl www.frc.org.uk1auditorsre8pSlb1llt1e$. This des¢ripb'on forn ol our auditorfs rewt. U8• of our r•port This report Is made soldy to the charitable c(Nwrfs nwthrs, as a body, In accord•)cè ¥•ith Chaptgr 3 of Part 16 of the Companiès Act 2006. al to the chanlable trustees, as 8 body. in acCfjrrlce vAth Regulati¢)n 10 of the Charitios Accounts {SLvUand) Regulatsons 2006. Our audit wrffk has baen undortaken so that we might stat8 to the charitable company's men*ers and tNstees Ihos8 matt8rs we are requThl to slate to them an auditorfs roport and for no olhef purpose. To Ihe Ivllest extenl pernitted by law. we do not accept or assume responslbllity to anyone other than chaiitable company. Ihe tharilarfe company's memberys as a body and the charitable company's trustees as a body, for our dIt for rew( or for the opinoons have fomxd. And •ylo nlor Statytory Audltor) For and on behatt of XeinadinAudit Mited, StabJtryyAuditor AccntantS 116 Duke Street Liverpwl L1 5JW 12-
THE CHRISTIAN TRUST CONSOLIDATED STATEMENT OF FINANCIALACTIVITIES INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds fvnds 2024 2024 Total Unrestricled Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowmenls from: Donations and legacies Charitable activities Other trading activities Investrnent income Other income 548,037 795,248 594,584 49,673 447.956 86,811 634,848 795,248 594,584 49,673 447,956 714,770 1,209,563 699,029 48 2.734.569 111,908 3,(K)O 10,810 826,678 1,212,563 709,839 48 2.734,569 Total income 2,435.498 86.811 2.522,309 5.357.979 125.718 5.483,697 Expenditure on: Charitable acbwties 2,548.362 103,9)6 2,652,268 3,297,806 147,510 3,445,316 Totsl expenditure 2.548,362 103,W6 2,652,268 3,297,806 147,510 3,445,316 Net incomellexpenditure) (112.864} 117.095) (129,9591 2.0,173 {21,792) 2,038,381 Transfers beteen funds 15,315 {15,315) 318,170 (2.9141 (318,1701 Other losses 12,9141 Net movement in funds (97.549) {32.410) (129.959) 2.375.429 1339.9621 2.035.467 Reconclllatlon of funds: Fund balances brought forward 5,512,670 201,168 5,713,838 3,137,241 541,130 3,678,371 Fund balances carried forward 5,415,121 168,758 5,583,879 5,512,670 201,168 5,713,838 The statement of financial activities includes all gains and losses recojnised in the year. All income and expendilure derive from continuing activities. 13-
THE CHRISTIAN TRUST CONSOLIDATED BALANCE SHEET ASAT 31 DECEMBER2024 2024 2023 Notes Fixed a55ets Intangible assets Tangible assets Investment propety 14 15 16 182,770 2,891,686 1.326.000 213,890 3,059,617 786.000 4.400.456 4.059,507 Current assets Stocks Debtors Cash at bank and in hand 18 19 49, 238.259 1,332.483 68,847 265,370 2,363.870 1.620.448 2,698.087 Creditors: amounts falling due within one year 21 (306,954) (856,9361 Net current assets 1.313.494 1,841,151 Total assets less current liabilities 5.713.950 s,0,658 Creditors: amounts falling due after more than one year (130.071) {148,820) Net assets 5,583,879 5,751,838 The funds of the ¢harity Restricted income funds Unrestricted funds 168.758 5,415,121 201,168 5,512,670 Total charity ftjnds 25 5,583,879 5,713,838 Minority interest 38,000 Total Funds 5.583.879 5,751,838 Dec 17, 2025 The financial statements were approved by the Trustees on ......................... Mr M J Moore Chairman and trustee Company registration number 02883771 {England and Wales) 14-
THE CHRISTIAN TRUST BALANCE SHEET AS A T31 DECEMBER 2024 2024 2023 Notes Fixed assets Intangible assets Tangible assets Investment propety Invesknents 14 15 16 17 182.770 1,919,475 1.076,000 850,304 200,502 1,966,698 536,01)0 785,400 4.028.549 3,488,600 Current assets Stocks Debtors Cash at bank and in hand 18 19 7.419 256,838 2,347.589 220.084 1.317.636 1.537,720 2,611,846 Creditors: amounts falling due within one year 21 (305,642} (321,0001 Net cuThent assets 1.232.078 2,290,846 Total assets less current liabilities 5.260,627 5.779,446 Creditors: amounts falling due after more than one year (117,072) (135,822) Net assèts 5.143,555 5.643,624 The funds of the charity Restricted income funds Unrestricted funds 168.758 4,974.797 201,168 5.442,456 5,143,555 5,643,624 Dec 17, 2025 The financial stalements were approved by the Trustees on ......................... Mr M J Moore Chairman and trustee Company registration number 02883771 {England and Wales) 15-
THE CHRISTIAN TRUST CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash (absorbed byllgenerated from operations (513.2721 2,129,286 Investing activities Interest receivable and similar income Purchase of intangible assels Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Purchase of inveslments Movement in minority interest 49,673 {8.631 } (46.8991 {64.056) 5.542 {64.9)4) 2.261,503 1366.0001 {60,0001 Net cash (used in)Igenerated from investing activities {65,219} 1,771,495 Financing activities Overdraft Interest paid Repayment of bank loans Payment of finance leases obligations 10,171 16,480) {454,942) {1.645) 20,434 12.435,4431 1.191 Net cash (used in)Igenerated from financing activities (452.896} (2,413,818) Net {de¢reasellin¢rease in cash and cash equivalents 11.031,387) 1.486,963 Cash and cash equivalents at beginning of year 2.363.870 876,9)7 Cash and cash equlvalenls at end of year 1,332,483 2,363,870 16-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity inforniation The charity is limited by guarantee, incorporated in England and Wales. and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exedIng £1 towards the assets of the charily in the event of liquidation. It is also a registered charity in England and Wales. and in Scotland. The address of its registered Offi is: Ellel Grange, Ellel, Lancasler, Lancashire, LA2 OHN 1.1 Basis of preparation The financial statements have been prepared in accordance with the charity's goveming document, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charilies Accounts (Scolland} Regulations 2006. FRS 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland. and Ihe Charitie5 SORP"Accounting and Reporting by Charitie5'. Ststement of Recommended Practice applicable to charities preparing Iheir accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- The charity is a Public Benefit Entity as defined by FRS 102. The finanaal statements are prepared in steding. 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 adopled are set out below. Basis of Consolidation The consolidated financial statements consolidate the financial ststements of the charity and its subsidiary undertakings drawn up to 31 December 2024. No ststement of financial activities is presented for the charity as peThitted by section 408 of the Companies Act 2006. The charity made a deficit aftertax for the financial year of£500.06912023- surplus of£2.122.8461 Inter-company transaclions, balanS and unrealized gains on transactions between the charity and its subsidiaries, which are related parties. are eliminated in full. Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group's equity theIn. Non-controlling interests consist of the amount of those interesls at the date of the original business combination and the non-controlling shareholder's share of changes in equity since the date of the combination. Total comprehensive income is attributed to nonwcontrolling interests even if this results in the non-controlling InteSts having a deficit balance. 1.2 Going concem At the lime of approving the financial slatemenls. the Trustees have a reasonable expectation Ihal the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going COnM basis of accounting in preparing the financial statemenls. 17-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 1.3 Charitable funds Unrestricted funds are available for use at the dISction of the Trustees in furtheran of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purt)oses and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entilled to it after any perfom)ance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Olher donations are recognised once the charity has been notified of the donation. unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gifi Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf the charity has been notified of an impending distiibution, the amount is known, and elp1 is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Expenditure is recognised once there is a legal or constTUCtive obligation to transfer economic benefit to a third party, it is probable that a Iransfer of economic benefits will be required in settlement, and the amounl of the obligation can be measured reliably. Expenditure is dassified by activity- The costs ofeach activity are made up ofthe total of direct costs and shared cosls, including support costs involved in undertaking each activity. Direct costs attributable to a single activily 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 belween those 8Ctivities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciab'on charges are allocated on the portion of the asset's use. 1.6 Research and development expenditure Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. 1.7 Intangible fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impaimenl losses. Intangible assets acquired on business combinations are rec(NJnised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to Ihe assel will flow to the enlity and the fair value of the asset can be measured reliably- the inlangible asset arises from contractual or other legal rights,. and the intangible asset is separable from the entity. Amortisation is rewnised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Development costs over 10 years 18-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.8 Tangible fixed assets 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.. Freehold land and buildings Plant and equipment Fixtures and fitbngs Motor vehicles over the lrfe of the lease 25% straight line basis 10 /0 to 33 /0 Straight line basis 25Yo Straight line basis Freehold land is not depreciated. The gain or loss arising on the disposal of an asset is detem)ined as the difference between the sale proceeds and the carrying value of the assel, and is recognised in the statement of financial activities. 1.9 Investment propety Investment propety, which is propety held to eam rentals andlor for capital appreciation. is initially recognised at cost, which includes the purchase cost and any diredy attributable expendilure. Subsequenuy it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. Property rented to a group entity is accounted for as tangible fixed assets. 1.10 Fixed asset investments Fixed asset investments are initially measured at transaction price exduding transaction costs. and are subsequenuy measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity- Control is the power to govem the financial and operating policies of the entity so as to obtain benefits from its activities. 1.11 Impairment of fixed assets At each reporting end date, the charity reviews the carying amounts of its tangible and intangible assets to determine whether there is any indication thal Ihose assets have suffered an impairment loss. If any such indication exists, the recoverdble amount of the asset is estimated in order to determine the extent of the impairment loss lif anyl- 1.12 Stocks Stocks are staled 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 replament 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. 1.13 Cash and cash equlvalents Cash and cash equivalents include cash in harKI, depK)sits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank ovenlrafts are shown within borrowings in current liabilities. 19-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles {Contlnued) 1.14 Financial instrurnents The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther 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 paty 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 enforceaNe right to set off the rec(MJnised amounts and there is an intention to setlle on a net basis or to realise Ihe asset and settle the liability simultsneously. Basic financial assets Basic financial assets, which include debt0 and cash and bank balans. are initially measured at transaction price including transaction costs and are subsequendy carried at amortised cost using the effective interest method unless the arrangemenl constitutes a financing Iransaction, 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 Basic financial liabilities, including creditors and bank loans are initially recognised at Iransaclion pri unless the aangement constitutes a financing transaction. where the debt instrument is measured at Ihe 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 lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilits.es 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 meth(Kl. DeognitiOn of financial liath"lities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or canlled. 1.15 Employee benefits The cost of any unused holiday entidement is recognised in the period in which the employee's seN1$ are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed lo teminate Ihe employment of an employee or to provide temination benefits. 1.16 Retirement benefrts Payments to defined contribuknon retirement benefit schemes are charged as an expense as they fall due. -20-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles {Contlnued) 1.17 Leases Leases are classified as finance leases whenever the tems of Ihe lease transfer substantially all the risks and rewards of ownership to Ihe lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the dale of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income1{expendituI for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability- Critical accounting estirnates and judgements In the application of the charity's accounting policies, Ihe Trustees are required lo make judgements, estimales and assumplions 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 resulis may differ from these estimates. The eslimales and undedying assumptions are reviewed on an ongoing basis. Revisions to accounb'ng estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in Ihe period of the revision and fvture periods where the revision affecls both current and fulure periods. 21
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Totsl Unrestricted funds 2023 Restri¢ted funds 2023 Totsl 2024 2023 Donations and legacies 548.037 86.811 634,848 714.770 111,908 826,678 548,037 86.811 634,848 714.770 111,908 826,678 Income from charitable activities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Training and conferences 795,248 795,248 1.209.563 1,212.563 795,248 795,248 1,209,563 3,000 1,212.563 Other trading activities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 UK propety rental Overseas cenlres Publishing sales UK bookshop sales Other income 171.156 93.941 109.491 113 219,883 171,156 93,941 109,491 113 113,381 170,988 66,842 116,976 8,119 336.104 170,988 66,842 116,976 8,119 346,914 10,810 594,584 594,584 699,029 10,810 709,839 22-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Investment income Unrestricted Restricted fvnds fvnds 2024 2024 Total Unrestricted funds 2023 Restricted funds 2023 Total 2024 2023 Interest receivable and similar income 49.673 49.673 48 49.673 49.673 48 Other income Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2023 Gains on sale of tangible fixed assets for charity's own use 447.956 447.956 2,734,569 2.734,569 447,956 447,956 2,734,569 2,734,569 -23-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on ¢harltsble advllies Charitable activities 2024 Charitable activities 2023 Direct Cosls Staff costs Depreciation and impaimient Rent & rates Professional fees Electricity, gas and water Insurance Courses, catering costs & retreats Propety and equipment repairs Communications & computer costs Audit & accountsncy Printing, postage & stationary Charitable donations Household & laundry Motor, travel & subsistencE Marketing & publicity Other & staff costs Bank charges & interest Foreign exchange differences {Profityloss on disposal of tangible fixed assets 102,601 954,078 142,943 65,187 109.497 199,053 26.551 203,735 129,895 1,215,469 205,287 89,411 59,540 347,461 60,077 312,374 li 265.882 95.418 22.970 26.236 133,458 74.882 46.941 26.616 114.991 39.371 1,858 188,361 145,897 41,531 34,833 150,730 120,351 59,217 12,854 19,834 243,567 (5,3421 13,969 2,652,268 3.445,316 Analysis by fund Unrestricted funds - general Restricted fvnds 2,548,362 103.906 3,297,806 147,510 2,652,268 3,445,316 Net movement in funds 2024 2023 The net movement in funds is stated after Chargin(crediting). Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed assets Amortisation of intangible assets 22,970 36,100 116,580 171,637 1447,9561 (2.734,569) 26,363 25,181 -24-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Trustees During the year remuneration of £35,946 (2023.. £58.060) was paid to trustees of the parent charity in line with the goveming document of the charity- The remuneration packages of the trustees are to compensate for their work for the charity- Full details of payments to trustees are included in note 26 to the financial statements. During the year retirement benefits were accruing to 1 trustee (2023.. 1) in respect of defined contribution pension schemes. 11 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number 82 Employment Costs 2024 2023 Wages and salaries Social security costs Other pension cosL8 881,021 57,075 15,982 1.157,200 48,877 15,372 954,078 1,221,449 No employee received emoluments of more than £60,000 during the year. 12 Auditors, remuneration 2024 2023 Audit of the financial statements 22.970 36,100 Other fees to auditors Taxation Complian seN1$ 2,250 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. -25-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Intsngible fixed assets Group Development Cost At 1 January 2024 Additions - separately acquired 255,000 8,632 At 31 December 2024 263,632 Amortisation and impairnient At 1 January 2024 Amortisation charged for the year 54,499 26,363 At 31 December 2024 80,862 Carrying amount At 31 December 2024 182,770 At 31 December 2023 200.502 Charity Development Cost At 1 January 2024 Additions - separately acquired 255,000 8,632 At 31 December 2024 263,632 Amortisation and impairnient At 1 January 2024 Amortisation charged for the year 54,499 26,363 At 31 Dember 2024 80,862 Carrying amount At 31 December 2024 182,770 At 31 December 2023 200,502 -26-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Tangible fixed assets Group Freehold land and buiklings Plant and Fixtures equhpment fft¢in95 Motor vehicles Total Cost At 1 January 2024 Addilions Disposals 3.640.306 13.649 8,795 900,978 18,116 {2,059) 34,850 4,589,783 19,988 46,899 14,250) {151.306) (144,997) At 31 Dember 2024 3.495.309 22.444 917,035 50,588 4.485,376 Depreciation and impairment At 1 January 2024 Depreciation charged in the year Eliminated in respect of dispK)sals 843,750 63.084 (47,4111 10,379 2.622 641,187 46,770 {2,059) 34,850 4.768 14,250) 1,530,166 112,072 {53,7201 At 31 December 2024 859,423 13.001 685,898 35,368 1,588,518 Carrying amount At 31 December 2024 2.635,886 9,443 231,137 15,220 2,891,686 At 31 December 2023 2,796,556 3.270 259,791 3,059,617 Assets held under finance leases and hire purchase ¢onlracts The net carrying value of tsngible fixed assets indudes the following in respect of assets held under finance leases or hire purchase contracts- 2024 2023 Fixtures and fftb'ngs 7,828 9,319 -27-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Freehold land and buiklings Plantand Flxtures and •qUI•nt ffttings Motor v•hiel•s Total Cost At 1 January 2024 Addil'ons Disposals 2,276,806 877,326 18.116 (2,059) 34,850 19,988 14.250) 3,188,982 44,099 16.3091 5.995 At 31 December 2024 2.276.806 5,995 893,383 50,588 3,226,772 Depreciation and impairment At 1 January 2024 Depreciation charged in the year Eliminated in respect of disFK)sals 566.284 39,536 621.146 46,022 (2,059) 34,850 4,768 14.2501 1,222,280 91,326 (6,309) 1,000 At 31 December 2024 605,820 1,¢0 665,109 35,368 1,307,297 Carrying amount At 31 December 2024 1.670.986 4.995 228,274 15,220 1,919,475 At 31 December 2023 1.710.522 281.357 1,991,879 -28-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Investment property Group 2024 At 1 January 2024 Additions through extemal acquisition 786,(KJO 540,000 At 31 December 2024 1,326,000 Investment properties are shown at fair value and are all in the UK. In the opinion of the directors the fair value of the properties at 31 December 2024 is not materially different from the cost. Charity At 1 January 2024 Additions through extemal acquisition 536,000 540,000 At 310ecember2024 1,076,000 17 Flxed asset Investments Other investments Cost or valuation At 1 January 2024 Additions 785,400 64,904 At 31 December 2024 850,304 Carrying amount At 31 December 2024 850,304 At 31 December 2023 785,400 2024 2023 Other investmenls comprise: Notes Investments in subsidiaries 28 850,304 785,400 18 Stock Group 2024 Charity 2024 2023 Stocks 49,706 68,847 7,419 -29-
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Debtors Group 2024 Charity 2024 2023 2023 Trade debtors 2,771 25,927 5,013 115 173 Due from group undertakings ppaYments and accrued income Other debtors 130,927 105,000 70,412 139,149 49,133 211,224 70,152 18,890 47,446 104,219 238.259 265.370 220,084 256,838 20 Finance lease obligations Group 2024 Charity 2024 2023 2023 Within one year In two lo five years 1.776 6.072 1.645 1.776 6,072 1.645 7,848 7,848 9,493 7,848 9,493 21 Creditors: amounts falling due within one year Group 2024 Charlty 2024 2023 2023 Bank overdrafts 9,909 20,434 436,366 59.167 19,000 Bank loans Trade creditors 64,146 9,000 53.415 9.000 44,514 19,000 1,645 Other loans Hire purchases and finance leases Due to group undertakings Other taxation and social security VAT grant repayable other creditors 1.776 1.645 1,776 203 109,532 12,482 15.635 13,767 3.039 125,499 178,019 13.093 11,761 70,026 136,259 22,225 96,601 111,257 120,341 Accruals and deferred income 306.954 856.936 305,642 321,000
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Deferred Incom8 Group 2024 2023 Deferred income at 1 January 2024 Resources deferred in the period Amounts released from previous periods Deferred income at year end 97,260 113.264 97 260 165,403 97,260 165 403 97 260 Charity Deferred income at 1 January 2024 Resources deferred in the period Amounts released from previous periods Deferred income al year end 76,357 73,606 142,761 76,357 142 761 22 Creditors: amounts falling due after one year Group 2024 Charity 2024 2023 2023 Bank loans 12,998 127,974 7,848 Other loans 123.999 6,072 111,000 6,072 127,974 7.848 Hire purchases and finance leases 130.071 148,820 117,072 135.822 23 Operatlng lease commltments Total future minimum lease payment5 under nOranlIable operating leases are as follows.. Group 2024 Charity 2024 2023 2023 Within one year In to five years In over five years 21.781 15,709 27,309 21,781 76,567 1,817 15,709 27,309 76,567 1.817 100,165 43,018 100,165 43,018 -31
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 24 Minority interests Group Total At 1 January 2024 Movement in the year 38,000 136,000)
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 25 Restricted funds Group At 1 January 2024 Incoming Resources expended Transfers At31 December 2024 201,168 86,811 (103,9061 (15,3151 168,758 Prevlous year: At 1 January 2023 Incomlng Resources expended Transfers At31 December 2023 541.130 125.718 (147,5101 (318,170) 201,168 Unrestricted funds Group At 1 January 2024 Incoming resources Resources expended Transfers At31 December 2024 General fvnds 5,512,670 2.435.498 12,548,362) 15,315 5,415,121 Previous year: At 1 January Incoming 2023 resources Resources expended Transfers At31 December 2023 General funds 2.730,263 5.357,979 (3.300,7201 725,148 5,512,670
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Restrlcted fijnds At31 December 2023 At 1 January 2023 Incoming resources Resources expenses Transfers Head Office 365,006 14,809 43.601 39,806 6,123 24.961 (50,533) (7,996} (62,2731 (308,094) 13,789) 16.287) 46,185 9,147 Ellel Grange Pierrepont Glyndley Manor Scotland 7,630 53,310 56,774 15,510 39,318 (10,7911 (15,917} 12,349 76,711 56,774 Northern Ireland 541,130 125,718 (147,510> 1318.170} 201,168 At31 December 2024 At 1 January 2024 Incoming resources Resources expenses (17,1941 (10,420) Transfers Head Office 46,185 9.147 21,168 13,633 50,159 4,772 Ellel Grange Pierrepont Glyndley Manor Scotland (7.588) 12,349 76,711 56,774 13,713 38,297 (15,206) (61,086} 12,105) (5,622) 8,751 48,300 56,774 Northern Ireland 201,168 86,811 (103,906) (15.315) 168,758
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of net assets between funds Group Unrestrlcted funds 2024 Restrlcted funds 2024 Total 2024 At 31 December 2024: Intangible fixed assets Tangible assets Investment properties Current assetsllliabilitiesl Long temi liabilities 182,770 2.891,686 1.326.000 1.144.736 (130.071 } 182,770 2,891,686 1,326,000 1,313,494 (130,071) 168,758 5,415,121 168,758 5,583,879 Group Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Intangible fixed assets Tangible assets Investment properties Current assetsllliabilitiesl Long term liabilities 213,890 3.059.617 786,000 1.639.983 (148,820} 213,890 3,059,617 786,000 1,841,151 1148,820) 201,168 5,550.670 201,168 5,751,838 Charity Unrestricted funds 2024 Restricted funds 2024 Totsl 2024 At 31 December 2024: Intangible fixed assets Tangible assets Investment properties Investmenls Current assetsllliabilitiesl Long temi liabilities 182,770 1.919,475 1.076,000 850,304 1.063.320 (117.072) 182,770 1,919,475 1,076,000 850,304 1,232.078 1117,072} 168,758 4.974.797 168,758 5,143,555
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Intangible fixed assets Tangible assets Fixed assel investments Current assetsllliabilitiesl Long tenn liabilities 200,502 1.966.697 1.321.400 2.089.679 (135,822) 200,502 1,966,697 1,321,400 2,290,847 1135,822) 201,168 5.442.456 201,168 5,643,624 27 Related party transactlons Mr R Steel. a trustee, received remuneration of £35,946 (2023: £35.636) and the group made pension contributions of £92712023." £8821 in respect of his duties as an employee. No other trustees received any remuneration during the rrent or prior period. During the year Ihe group paid salaries amounting to £275.958 (2023.. £86.692) to related parties and Iravel and subsistence expenses of £525 (2023.. £4,415). The charity has taken advantage of the exemption in Financial Reporting Standard 102 from the requirement to disclose transactions wth group companies on the grounds that consolidated financial slatements are prepared by the ultimate parenl company.
THE CHRISTIAN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 28 Subsidiaries Details of the charity's subsidiaries at 31 December 2024 are as follows.. Name of undertaking Registered office Nature of business Class of shares held °fi Held Direct Indirect Glyndley Manor Estates Limited England property management cnmpany ordinary 100.00 Ellel Ministries Limited England Sovereign-world Limiled England Ellel Ministries Hungary Kft Hungary holding company (Domantl ordinary publishers of Christian books ordinary propety management ordinary company 100.00 100.00 100.00 Overseas Education Trust England Lirniled intemiediate holding company ordinary (Dormant) 100.00 Mediterranean Tours Limited England TCT Properties No1 Limited England facililator of overseas tours ordinary holding of investment propety ordinary 100.00 100.00 29 Parent and ultimate parent undertaking The members of The Christian Trust have control over the company. There is not considered to be an ultimate controlling paty- -37-