Charlty reglstrth number 1058306 (England and W*les) CLC INTERNATIONAL OFFICE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
CLC INTERNATIONAL OFFICE LEGAL AND ADMINISTRATNE INFORMATION Trnstees J Chamberfain G Ince trJRaby J Watkins P Nemansky G Sidery (Appointed 14 November 2024) (Appointed 1 June 2025) (Appointed 9 July 2025) M Roias M Olliffe Intemalional director Mr G Chanknerthn Charity number 1058306 Principal addTrs5 118 Prospect Road Sheffield S17 4JE Grant BAACA BK Plus Limited Cannon House Ruland Road Sheffield South Yorkshire S3 8DP Bankers CAF Bank Limited 25 lfjngs 11 Avenue lfjngs Ffill Malling Kent ME19 4JQ Lknivest Bank and Trust Co. 1 OW Broad Street PO Box 64197 PA18964 USA
CLC INTERNATIONAL OFFICE CONTENTS Page Tnte88, report Independenl examinevs Teport statement of financlal actlvHles Balance Sheet Statement of ca8h IIow8 Note8 to the flnanclal 8tatements 9-21
CLC INTERNATIONAL OFFICE TRUSTEES. REPORT FOR THE YEAR ENDED 31 JANUARY 2025 The trustees present thelr annual report and finanLial ststements for the year ended 31 January 2025. The financial statements have been prepared in accordance *ith the accounting policies set out in note 1 to Ihe financial ststements and comply with the charrty's Declaration of Trust dated 8 August 1996. the Charities Act 2011 and °Accounting and Repoitng by Charities: Statement of Recommended Pracli¢e applicable to charities preparing Iheir accounts in accordance vrfth the Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102)" (effedlve 1 January 2019). Objectfves and activitles The tharity's objects are: The advancement of Ihe Evangelical Tenets of the Christian religion either in the United lfjngdom overseas especially through Chrlsllan ltterature. - The advancement for the public benefft of religious or other education. CLC Is a missionary fellowshSp opera11ng In 43 countrles around the %)r1d. Eath enlfjty has Its reg5stratlon in its counlry of operation, accordlng to national legistation. There is no legal responsibility or 0erlp - apart from Romania. Bulgarla. Kyrgyzslan and France and the individual CLC organisations work together under the guidellnes of the voluntsry code of the CLC International constituOn and the Guidlng Prlnclples. The role of the CLC Intemational Office is to fadlltate CLC ministries, to obtain and provide fundlng for projects. to eate and manage websites and other dlgital projects, to provide supervision and training services and to serve as common point of communiotion and reference for CLC worfdde. The function of the Intemational Office Is carried out by the Regional Directors of five regions - Afrlca, Asla, Europe, Latin America, North America & Caribbean - and a Digital Director, working in conjunction with the Intemational Director. This group is given authority by the four-yearly International Council to interpret and apply the CLC Intemalional Constitution. lthile the Intemational and Regional Directors do not have executive authorSty over the national CLC teams, their responsibility in fvlfjlling the role of the Intemational Office is to monitor and mentor; to hold accountable leaders to their objeclives; to provide leadership training; to give objeclive assessment of the health of the organisallon; to provide oversight and accountsbilty for grarts made; and to be a seNice provider for websites and training. The trustees have paid due regard lo guidance issued by the Charty Commission in deciding what actsvitses the d)arty should undertake. The trustees are also awdre of the Charity Commission's guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Charity. The Trustees record their grateful thanks to the volunteers who have helped in maintaining the office, visited overseas centres and offered thelr advi¢e and assistsnce throughout the year. Thelr ntrUl10n has been invaluable.
CLC INTERNATIONAL OFFICE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 The year ended 31 January 2025 was posllive for CLC internationalty. By the end of the fiscal year global sales re sllghtly above the prevlou8 fiscal year. On41ne sales contlnued to represent aboul 15% of tolal global sales, ith notable growth in many Latin America countries. Adrfrtionally, many ¢ountrie8 continue to have strong sales on Ihlr&party websites such as Amazon, Ebay, Shopee and Mercadollbre. Some Countries continued to have 8lgnifiL¥nt sales by engaging c%Mtomer8 on social metha platrom 8uth as Mthats4)p. Facebook and Instagram. Intematlonal Dlractor and RagK•nal Director5 International Direrlor Gary Chamberfin ¢onlinued to lead the team of Regional Directors throughout the year, mee15ng occaslonally vla Zoom and in person at the Regional Meding in Chennal. India. A key fo8 was encouraging Regional Director8 to attend various regional gatherings in order to galn a broader intwnational perspecllve and to connect with CLC National Directors and team members from the 43 countrles where we have operations. The Reglonal tXreGtoTr continued to provide valuable oversight to CLC leadern and teaTh through personal v18i1s, video meetings, instant messaging, and email communication. Davld P8bOn from Colombia serves as the Regional tArector for Latin America, Hervé Le880us from France seNes as the Reglonal Director for Europe, JIM Pltman from the United Statès serves as the Regional Dlrector for North Arne¢a and the Carfbbean. Sohee Yoo from Soulh Korea 8eNes as Ihe Regional Director for Asla. These appointments V•Tre offi¢ially ratified by the CLC Intemallonal Council during its meetings near Rome In September 2024. Ivano Crameroltl of ltsly wa8 appointed as the new Dlgftal Dlrethr, vllh an expanded role that Includes member8hlp In the Regional Directors group. He was mentored and trained by the outyoing Dlgitsl Director, Nell Wardrope, throughout 2024. The Coundl formally approved thls role at the September 2024 meelfngs outslde Rome. The Internatlonal Councll Every four years, Ihe CLC International Countil meets In person. It18 comp08ed of the leadaB of the estsbllshed countrle6 wlthln the CLC global fellow5hlp, along the IntemalSonal Dlrector and the Reglonal Dlre¢tor8. In addhlon, Iwo trustees are members of the Councll, though they do nol have votlng rights. The Councll met outslde Rome in September 2024 for fellovAhip and to discuss varlou8 matter8 Impacling the obal organlzallon. The follo4ng key deci8ions were made: Gary Chafflbertin was elected to conlinue serving a8 Intemallonal L¥rertor untsl approxlmatsly Mw(WWil 2026, %then a new Director wlll be elected. All current Regional Dlre¢tor¥ wewe rattfied to Serve for another four-year temi, unfjl Ihe Coundl meets agaln In 2028. Ivory Coast and Panama were accepted 48 E8tabllshed Countrles and therefore galned Councll membership. It was agreed that onty Inth¥idual countrles may be considered for estsblished ststus and recognlzed as Coundl Member8, thereby endng the previous pollcy that all0d group8 of Small countrle8 to be wmbined kn thls purpose. The 10 Protocol-thith defjnes the re18tionships among Ihe Council, Tntstee8, Intematlonal Dlredor, Reglonal Dlrectors, and Intemational offi Staff Mfith the aim of promoting darity and transparency-was formally approved. The CLC Constitirtion was amended regardng Ihe ecllon of Reglonal DweGtors: all Natlonal Dlrectorn, vthether from Established or Dependent countries. *ill now have the ritht to nominate and vote for Reglonal DlreGtor of their respective rewi. Global nmtings on Zoom The use of Zoom for g1(al meetings continued lo be both effec1ive and appreciated. It remains an excellent way ol bringing the worldwide CLC Fellowship together. Three gl¢Jbal prayer meetings were organized in March, June, and October. Aowoxlmately 130 CLC stsff members from around 40 countries participated in each meetlng. The devotionals during these gatherings focused wimarlty on the CLC Iheme of %tronger Together.. Mutual Supwt The Intemational Office c4)nlinued to faalttate mual support among CLC mlnistrles. Thls support fOsed on nding salaries and helping a few countriewuch as 1n, &Jrklna Faso, Mexico, Peru, and Sierra Leone- purchase much-needed stock. The Caribbean islants, in Parti18[, benefited from this asslstsnce. as they continued to face significant challenges throughout the year.
CLC INTERNATIONAL OFFICE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Project Funding and Inlemational Projects In India, construction continued on a new four-story bullthng In Chennai, on a vacant lot the team has 0ed for decades. The building wll indude parking, a large shop, office space, a conference room. and guest accommodations. A major ongoing project aims to publish 25,OIXI children's Bibles for distrtbution in countries where suth Blbles are either unavailable or prohibitively expensive the to high import costs. Countries beneffting from this Inltlative indude Benln, Burkina Faso, In(fia, Ivory Coast, Kenya. Mozambique, the Phifippines, Portugal, and Thailand. The project has been well received and is expanding, th a new target of 50,000 Bibles. are partnertng %M1h the publishers Copenhagen and David C. Cook to select agMpproprlate Iltles. A large print was successfvlly ¢ompleted in elghl languages In 2024. CLC Kenya also recdved fijnqffing to purchase a large property ¢)utside Najrobi for a new headquarters and to develop a facilty dedicated lo mentoring and training African thri81ian author8. Olobal Publishlng Project Roughly 10% of global CLC sales n4Y•V come from intemational publishlng initiatives. We have remained consistent In organizing key trainlng semlnars and coorthnaling forelgn language rights falrs In partnershlp ECPA CLC Is enty publishing in 23 languages, approximately 5,100 tides in print. South Korea 16 by far the largest publl8her In the CLC Intemational Fellow8hlp, foll(Wd by France. Colombia, Inda, and the USA. Flnanclal revlew Income Totsi Income for the year wa8 £650k (224". £430k). Funolng for projects amounted to £394k (2024: £209k) and waB prindpally from CLC organlsatlon8 but also from trusts and Indtvidual8. Non-project Income of £256k (2024: £222k) induded £190k (2024: £185k) contrlbutl¢)n8 from other CLC organi8atlon¥, £48k (2024: £43k) from web81te charge8 to th08e organl88lions, £9k (2024: (£4k)) comprlslng foreign exchange galns and1088es and £9k12024: £2k) from other 80urce8 (malnty Interest. book sales, rents and donallons). Expendllure Total expendityre for the year was £555k (2024: £407k). ExPenthre on projects amounted to £262k (2024: £179k). Non-projed expendlbjre of £293k {2024: 228k) Included £108k (2024: £101 k) on support for staff and volunteers, £36k (2024: £40k) on thelr travel and accommodation, £123k (2024: £63k) on webslte and IT costs, £12k (2024: £8k) on ntrIbuOn6 not pald and £14k (2024: £16k) on olher costs. ReseNes Pollcy Free reserves at 31 January 2025 are £556k P024: £366k). It b the Trustees, oplnlon that unrestrlcted lund8 equal to at least 81x month8, normal expeftdlre should be malntsined, amounts lo approximately £141 k (2024.. £110k). In thls conte, the trustees consider nomial expendire should exclude costs of supporflng projects, transferg. project fund8, depre¢ialion, bad debts and other non-comThtted expendIre. Summary Due to the 11ndng of grant maklng expendIre, the r1 assets have IneaSed and the Fund conttnues to meet the Trustees. objective of having six months. expenthre In hand. The Trustees Gonsider that the reserye8 are sufflclent lo cover all foreseeable Project Fund Liabililies. Funds carrled foThvard at 31 January 2025 are £719k (2024: £625k). Plans for futurn poriods The Intematlonal Dlrector has a number of key prloTltles. These indude a focus on making strateglc capltal Investrnents, includlng Ihose already desuibed In this report. helping and preparing tUre leaderskllp, strengthening Yaker Countries, consolidating growth in stronger countrie8, growing digital and soclal media generally, developing 8pecial projects and growlng the donor base and beglnning to explore oppothnities in some new countries. The Regional Directors kept these priorities in during the year, resulting in positsve developments for each priority. The charity Is govemed by a Dedar81ion ofTrust (knd 8 guSt 1996 and is a regtstsred Gharity, nuthr 1058306.
CLC INTERNATIONAL OFFICE TRUSTEES. REPORT (coKfiNUED) FOR THE YEAR ENDED 31 JANUARY2025 G Ince MrJ Raty J Vlthtng P Nemanthy C Puhknd G Sidery M Rola8 M olmfe Ior 16AuuU2ry) porrded 14 No¥wKber 2024) IAppLMrtsd 1 June 2025) (Appolrtal 9 July 2026) Truste8 mealngs are held at least four Omas a year with ad&rtlonal nwetings a8 necessary. The IniemallorAJ Dlip(or is appolnted on a four.year b8818 on Ihe reL¥1mm of the Intemalion81 CwnaL The Boa of Tnista84 wÉlh the (xiopwatton ofthe CLC Intaimfiord offi Te. led ty the fntemknl Dtre(or. are pKY lmponslLe for SafE9wdry and dlre¢tng the dislribution of monies received inio the Intematiol offi FurKI trj the as * out in the 1996 OodalIOn (rfTn18L The Trustees recogni8e their re9ponslblltiy to asstst CLCIO in fiiifdhng Ihe ainB of tha Interna CLC f11p re8P8(aing tho out in Ihe CLC lrtsrna Con81ittrtion 2018 edlOn. The Tnth88 vthll alway8 seek to er16ura that the Charity and Its reprnti ftmcin wiihln the legal and The Trustse8 work to 1n1th tha Integrfty of thg CLC 10 Fund by malntdnlng 8ound Trn¢131 pradlees and overnEI effident admlntsbalon ofthe Charfty and res1)ur. wilh the ¢Jbieds set out abova. The Tnffjlees wlli molnlaln ab801ut8 0)nnda• thui all 8enstsve Irrfonn8ti0n. prevert damagEng evenbAthea ocuning and to mttlpts thg &ffect rftlw d The TTust¢es rnoJgrr8e that they fflt ah4ays ala In interesL8 of th• Charty arnl as a body 1{ t•ko Fund will b6 taken by the Tntstees acung togottmr not ty ary one Inthldually. The TnMte08 may delegats rJRaby 3 Swernber 2025
CLC INTERNATIONAL OFFICE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CLC INTERNATIONAL OFFICE I report to the trustees on my exanwnalion of the finan(aal stateMts of CLC Intemational Office (the charity) for the year ended 31 January 2025. Responsibifrties and basis of r•port 8 the trustees of the Charity ytyj are responsible for the preparation of the finan(xal statements in accordance with Ihe requirements of the Charilies A¢ 2011. I report in respect of my examination of the charitys fjnanaal Statements carried wt undw sectlon 145 of the 2011 t. In carying out my examination I have follothed all the apPCable Diredions gwen by the Charity Commission under seciion 145{5)(b) of the 2011 A Independent examinerfs statem Since the tharitys gross tncome exceeded £250.000. the independent examiner must be a member of a body listsd In seclion 145 of the Chariltes Art 2011. 1 confjmi that l am quaffied to dertake the examlnalion because l am member of ICAEW. 1th is one of the listed bo(fjes. I have completed my examination. I confirni that no matters have come to my attention in conneclion 1th the examination giving me cause to believe that in any material respe¢ accountlng recorth were not kept in respect of the charity as required by section 130 of the Charitles Act 2011. the financlal statements do not accord those records: or the financial statements do nol COM the appcable requirements concerntng the form and content of financial statements set out in the Charilies (Accounts and Reports) Regulalions 2008 other than any requirement that the financial ststements we a true and fair view, %%thich is not a matter considered as part of an independent examination. I have no concems and have Come ac¥oss no other niatters In conneclion Imlh the examination to whlth attention ould be drawn in this report in ordw to enable a proper understanolng of the fjnancial statements to be reached. Ils Richards¢)n Cannon House Rulland Road Sheffield South Yorkshlre S3 8DP 3 September 2025
CLC INTERNATIONAL OFFICE STATEMENT OF FINANCIALAcnvmES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2025 Unrestrlcted Vnre8trlcted RMtrlcted funds fund8 nd• general dmlgnated 2025 202S Total Unrn8trlctsd Unr••trlcled Re8trfcted fvnd8 fund• funds 90neral d•$lgnated 2024 2024 Totsl 2025 2025 2024 2024 Noto• Charitable activltles Investments Surplusl(Loss) on dollar exchange 238,100 9.291 8.689 259,675 134.012 631.787 9.291 8,689 227.531 2.192 (8,081 24.151 184.675 436,357 2.192 (8,061) Total Income 256,080 259,675 134,012 649,767 221,662 24,151 184,675 430,488 Charitable activitles 292.913 64,785 197,482 555,180 227,718 27,574 151,522 406,814 Net (outgolngylncomlng r•8ourc•8 befor• transfers 136,833) 194,890 (63.470) 94,587 (6,0561 (3.423) 33,153 23,674 Gr088 transfers b6tween fvnd8 10 29,917 3.822 (33,739) (12,910) 4,140 8,770 Net (expondltureylncome for the ygarl N•t mov•m•nt In funds (6.918) 198.712 (97,209) 94.587 (18,966) 717 41,923 23.674 Fund balances al 1 February 2024 173,393 199.860 251,533 624,786 192.359 199,143 209,610 601,112 Fund balances at 31 January 2025 166,477 398.572 154,324 719,373 173.393 199,860 251.533 624,786 The slatement of financlal athlues Includes all galns and losses recopnlsed kn the year. All Income arKI experKllture derlve from contlnulry acUvltl8s.
CLC INTERNATIONAL OFFICE BALANCE SHEET ASAT31 JAP4UARY2025 8.929 12 13 198 197.885 851.513 ono 710.544 815,951 719.373 824.788 15 154.324 1&3A77 398,512 261.$33 173,393 199.880 17 719.m 824.788 MrJRaty
CLC INTERNATIONAL OFFICE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2025 2025 2024 Cash flows from opeyatlng actlvltles Cash generated froml{absoTbed by) operalion8 73.954 (27,503) Invesllng actfvltles Investment income recelved 9291 2,192 Net cash g•n•rated from thvesllng acllvilios 9291 2,192 Net Increaselldecr•Me) in cash and cash equlvalents 83,245 (25,311) Ca8h and cash equfvalent8 at beglnnlng of year 453,345 478,656 Cash and cash equival•nts at ond ymr 536,590 453,345
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Accounting policies Charlty Inf0mtIon CLC Intsmational Office Is a charity govemed by a Declaration of Trust dated 8 August 1996, Tegi8tered charlty, number 1058306. On the 22 April 2024, a Charitable Incorporated Organisation (CIO), registered number 1207956, was rAeated with the same name and the majority of the assets were transferred to the new organlsation in May 2025. 1.1 Accounting convenlion The fjnancial statements have been prepared in accordance with the thartty's Dedarallon of Trust, the Charities Act 2011. FRS 102 The Financial Reporting Standard applicable in Ihe UK and Republic ol Ireland. {°FRS 102°) and the Charities SORP "Accounting and Reportlng by Charftles: Statement of Recommended Praclice applicable to charities preparing their accounts in accordance Mrith the Financial Reporttng Standard applicable In the UK and Republlc of Ireland (FRS 102)° (effecllve 1 January 2019). The tharity is a Public Benefjt Entity as defjned by FRS 102. The financial statements are prepared in sterllng, whith 18 the nctIonal currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financlal statsments have been prepared under the histOriGal Gost convenlion. The wincipal accounltng policles adopted are set out below. 12 Going concern At the time of approvlng the financial statements, the trustses have a reasonable expectatlon that the charty has adequate resources to continue in operational existence for the foreseeable future. Thus the trtee$ continue to adopt the going concern basis of accounting in preparlng the Ilnancial statements. 13 Charitable fvnds Unrestricted funts are available for use at the discretion of the trustees in fvrtheTanGe of their charitable objectlves. Restricted funds are subject to specific condilions by donors or grantor5 as to how they may be used. The purposes and uses of the restricted fvnds are set out in the notes to Ihe financial ststements. 1.4 Income Income is recognised then the charity is legally enlitled to it after any performance conthions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipL Other donations are recognised once the charlty has been notified of the donation, unless performance conditions require deferral of the amount. Income tsx recoverable in relalion to donatior received under GiftAid or deeds of covenant is reMgnised at the time of the donation. Legacies are recognised on recelpt or ¢)therwise rf the charity has been notllled of an Impendlng dbtrlbutlon, the amount Is kno1, and recelpt Is expected. If Ihe amount is not kno*n, the legacy is treated as a conllngent asset. Donatsd goods and services are recognised on receipt. Rentsl income is accounted for on an accruals basls and indudes all rental income due in the period of accounL
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 A¢countEng poll¢les (Conlinued) 1.5 Expenditure Expenditure is recognlsed once there is a legal or constructlve obligatton to transfer economic benefit to a third paty, it Is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliabty. Expenditure is dassified by athlty. The costs of ead) activity are made up of the total of dirent costs and shared costs, induding support costs Involved In undertaklng each activty. Dlrect costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs vthich are not attributable to a single activity are apportioned between those activitses on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time 4)ent, and depre(ialion charges are allocated on the portion of the assefs use. 1ts Fixed asset investments a) Shares in subsidiary undertaklngs The shares in subsidiary undertakings represenl Programme Related Investments, as defined in the FRS 102 SORP. Programme Related Investsments are induded In the balance sheet at the amount invested less any impaimients and any amounts repaid. Where the orlglnal amount invested is not kno), the Trustees have adopted a falr value based on thelr best estimate. Details of the subsldlary undertakings are set out In note 19. Each operatlng subsidlary undertaking is exduslvely involved in Tunning a Christian bookshop. Allhough no benefft arises from any of the operaling 5ubsldlaries, the objectives of these subsidiaries are consSstsnt with the aims and purposes of CLC Intemat'onal Office. The donnant subsldtary company will operate In the Unlted Klngdom and wlll be involved in the development of an eReaderN)p. b) Other unllsted investments The FRS 102 SORP requires that ere the investment is in ordinary shares in unlisted Companies il must be Included at falr value if this can be measured reliably: or if not, cost less impaimient. The Trustees consider that it is not Cost effective to obtain a rellable fair valuation of the other unllsted investments lch are included, therefore, at cost. 1.7 Stocks Stocks are slated at the lower of rtht 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 thelr present location and condition. Items held for dislnl)ution at no or nomlnal consideration are measured the lower of replacement cost and cost. Net realisable value is the eslimated selling price less all estimated costs of completion and costs to be Incurred in marketing, selling and distribudon. IA Cash and cash equivalents Cash and cash equivalents Include cash in hand. deposits held 8t call with banks, Olher short-temi liquid investments wilh original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowingg in current liabilities. 10-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 Accounllng pollctes (Contlnued) 1.9 Flnanclal Instruments The charlty has elected to apply the provF8lons of Secllon 11 '8aslc Flnandal Instruments, and Sedlon 12 'other Financial Instruments Issue8. of FRS 102 to all of Its financial instruments. Flnanclal Instruments are recognised In the Charlty balance sheet when the charlty becomes party to the contradual provislons of the instrument. Flnanclal assets and Ilabllltles are offset, wlth the net amounts presented In the financlal statements, ffien there b a legally enfoiceable right to set off the recognised amounts and there is an intention to setlle on a net ba818 or lo realSse the as8el and setue the Ilabillty 8imultsneously. Basle flnanclal asset8 Baslc financial a88ets, %thSch Indude debtorn and cash and bank balances, are Inllally measured at transaction prlce Induding transactlon costs and are sub8equenlly carrled al amortlsed cost usSng the effethe Interegt method unle88 the arrangement con81iiute8 a financlng transaclion, %there the transadlon 18 measured at the present value of the fvIre receipts dlscounted at a maiket rate of Interest. Flnandal a88ets dasslfied as recelvable thIn on8 year are not amortlsed. 8a8le ffn•ndal Ilablllll08 Baslc financSal Ilabllltie8, Includlng credltors and bank loan8 are Inltlally recognlsed at transactlon prlce unless the errangement constitutes a financing transactlon, there the debt In81Tument 58 measured at the present value of the fulure payments dL8counted at a market rate of Intere8t. Flnanclal Ilab115tles dasslfted as payable ¥thIn one year are not amortlsed. Debt Instruments are 8ub80quenty carrled at amortlsed c08t, U8lng the •ffe¢fjve Interest rate method. Trade credltors are obllgalions to pay for goods or 8ervice8 that have been acquired in the ordinary course ol operatlons from 8uppllers. Amounts payable are classlfied as current liabllilles if payment Is due 1n one year or le88. If not, they are presented as non-current Ilabili1i88. Trade creditor8 are recognlsed initially at tran8aclon prtce and 8ub8equenty measured at amorti8ed cost U8lng the effective Interest method. Derecognldon of ffnanclal Ilabllllle8 Flnanclal Ilabillles are derecognised when the ¢harlty'8 ¢ontraclual obllgatlons explre or are dl8¢harged or cancelled. 1.10 Forelgn ox¢hange Monetary as88ts and1Sabllllle8 denomlnated In forelgn ¢urrencles are tran81ated Into sterflng at the rale8 of exchange prevalllng at the accountlng date. Transactlons in foreign rrencIeS are recorded at the date of the transactlons. All dlfferences are taken to the Statsment of Financlal Athlfjes. Critlcal accountlng eslimates and judgemonts In the appllcalon of the Charity's accounting policle8, the trustees are required to make judgements, eslirnatss and assumplons ebout the carrylng amount of assets and liabllttles that are not readity apparent from other sources. The estimates and associated assumptions are based on historical experience and other tractors that are consldered to be relevant. Acbjal results may dSffer from these e8tim8te8. The eslimates and underfylng assumpllons are reviewed on an ongoing basis. Revision8 to accounting estimates are recognised in the period in whid) the estimate Is revised where the revision affects (nly 1hat period, or in Ihe perlod of the revislon and ftthre perlod8 vknere the revision affects both current and fvre perioth. 11
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2025 Income from charftable actlvlties Unre8trlcted Unrestrlctsd Restrlcted lunds funds gener•1 de61gnat•d 2025 2025 Total Unre61rlcted Unrestrlcled Reslrlcted lunds funds neral deslgnated 2024 2024 Total 2025 2025 2024 2024 Charltable activltles Blble Companion sales Contributions CLC Projects CLC Holdings Website and Dlgllal knco 262 190.413 262 190.413 95.585 298.102 47.425 245 184,561 245 184.561 167,979 40,847 42,725 95.585 38,427 167,979 16,696 259,675 24,151 47.425 42.725 238,1(Kl 259.675 134,012 631.787 227531 24,151 184,675 436,357 12-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2025 Income from inveslments Unrestrlcted Unrestsicted funds funds 2025 2024 Interest recelvable 9,291 2,192 ExPendIre on charitable actlvllles Charitable activities 2025 Charitable activilles 2024 Dlrect Costs Stsff costs C03t of good8 sold CLC Projects CLC Holdlngs Estsbllshment costs Telephone Travel expen8e8 Prln11ng, postage, 8tatlonery, book8 and 8ubscripllon8 H08pltalty, Conference and Dlrector8' meetlng expen8e8 IT and webslte c08ts Overseas Support CO8ts Bank charges Bad debts 1.787 465 151,522 27,574 1,992 837 40,031 228 3,772 63,065 100,504 498 8,529 285 164,370 97,897 2,025 678 36,279 281 1,385 123,192 108,303 433 12,157 547,285 400,804 Shar• of support and govomance Gosts (soe note 6) Govemance 7,895 6,010 $55,180 406,814 Anatysls by fund Unrestricted fvnds - general Unrestricted fvnds - d88ignated Res1rrded ndS 292,913 64,785 197,482 227,718 27,574 151,522 555,180 406,814 13-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Support costs Support Govemance costs 2026Support C08ts Governance 2024 Independent Examiner fees Legal and professlonal 2,550 2,550 2,550 2,550 5,345 5,345 3,460 3,460 7,895 7,895 6,010 6,010 Analy8ed belween Charltsble acthillle8 7,895 7,895 6,010 6.010 Govemance costs Indudes payments to the Independent examlner of £2,550 {202¥ £2,550). Trusta Travel and other expen8eB amounling to £,1,045 (2024 - £NII) 18 relmbur8ed to one trustee durfng the year. The charlty ha8 InCued £375 (2024 - £376) of eXpendIre In re8pect of Tru8tee8 Indemnlty In8urance. Trustee donatlon8 to the charlty lotalled £2,700 (2024 - £NII). No trustees recelved any remuneratlon durlng the year {2024 - £NII). Employees The average monlhly number of employees during the year wa8: 2025 Numb•r 2024 Number Employment costs 2026 2024 ge8 and salaries Soclal security costs 1,725 1,787 There were no employees whose annual remuneration was more than £60,000. Taxation The tharity Is exempt from taxalion on its activities because all its income is applied for tharitable purposes. 14-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 10 Transler• Unrestrlcted Unrostrlcled Restrlctad lund8 fun funds general deslgnated Totsl Unrestrlcted Unrnstrtcted R8strlcted Total funds funds funds general de8lgn8ted 2025 2025 2025 25 2024 2024 2024 2024 Intemalrona5 Councll re86rve 81bles For Chlldren r88erve Dlgltal App project subsidy tran8fer Where Mosl Needed reserve (3.822) 3.822 {5,0001 (25.0001 17,090 5,000 25,000 (17,090) 860 33.739 (33,739) (860) 29.917 3,822 (33.739) (12,910) 4,140 8.770 15-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 11 Fixed asset invttknents Unlisted Other Total Cost or valuation At 1 FebNary 2024 & 31 January 2025 8,028 8,829 Carrylng amount At 31 January 2025 8,028 801 8.829 At 31 January 2024 8,028 801 8,829 2025 2024 Oth¢r Investrnents Trye. Inve8lments In 8ubsldlarf88 19 801 801 12 Stocks 2025 2024 Fhl8hed good8 and goods for resale 283 13 Deblorn 2025 2024 ATrts falllng du• wllhin (• year Trade debtor8 Other debtors Prepayments and amed Encome 108,681 77,271 12,290 69,208 123.269 5,408 198,242 197,885 14 Credftoys: amounts fallhw due wlthln one year 2024 Trade creditors Other credltors A¢ualS and dekned income 7,801 5.892 10,595 2,308 15,612 17,636 24,288 35,556 16-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 15 Restrfcted funds The restricted funds of the charty comprise the unexpended balances of donations and grants held on trust subject lo specific condltlons by donors as to how they may be used. Movement In fund8 Incomlng Re8QUKèB resourus ¢xpènd¢d Movement In fund8 Incoming Rg8ources $our¢os exponded Balaneè at 1 February 2023 Trnfisfern alance at l FebTU8ry 2024 Tran8ferB B•laneb #t 31 Janypry 2025 Project France: Blble project Proj8Ct India Project Mozambique: Bible prlnling Project Peru Project Ukraine Project funds b81ow £10,000. held for the b8n8fit of Indivtdual CLC Countrfes Africa Conference Travel Fund Columbia Loan Fund Conference Costs CLC Europe Digital Technologies Evangelistic literatu Project Publishing Fund Rudy Kuijer Evangellsm Fund SOS Fund Prlnt on demand Equipment Fund Bibles For Children Fund 9,075 1,440 23,222 60 2,472 22,222 10,515 23,222 19,485 1,135 26,381 10.515 239 6,108 20 2,779 60 (29,091) (15,770) (8,957) 19,425 17,616 9,412 (3,735) 123,953) (2,443) 5.000 (2,810) (5,043) 26,441 44,148 1,014 2,993 2,089 99,871 2,293 (2) 268 408 1,000 118.623 (120.376) (1.014) (856) (1,035) (845) (17.090) (2,219) 9.518 51,913 69.672 (80,377) 3,735 44.943 2,137 1,054 81,936 74 (2) (2.137) (8,805) (19,234) (33,739) 9,194 1.443 28,963 1,270 6,096 196 1,850 1,196 6,098 196 758 (268) (8,361) 11.636 3.683 (2.591) (1,0001 5.000 25,000 30.000 37.931 (30,520) 37.411 209,610 184,675 151.522 8,770 251,533 134,012 197,482 33,739 154,324 The Project Accounts represent funds raised for projects in specific countri85. Where the funds raised are insufficient to meet the project expenditure. funds are transf8rred from Ihe unrestricted funds of CLC International Office. In th8 event that the project does not go ahead. funds may be transferred to other projects with the agreement of the donors. 17-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 16 Unrestrlcted funds The unrestrlcted ndS of the charlty comprise the unexpended balances of donations and grants vthich are not subject to specific conditions by donor8 and grantors as lo how they may be used. These include designated funds whlch have been sel aslde out of unrestrlcted fvnds by the trustees for speclfic purp08e8. At 1 Febrnary 2024 Incomlng Resources resources expended Transfers At 31 January 2026 General funds 173,393 256,080 (292,913) 29,917 166,477 Prevlous year. At 1 Febrnary Incomlng Resources 2023 resourGes •xpended Transfers At 31 January 2024 General knnds 192,359 221,662 (227,718) (12,910) 173,393 18-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 17 Unrnstrlcted fund8 - Deslgnated These are unrestricted funds which are material to the charilys activltles. Movement in funds Incamlng Resources ra•our¢e8 Qxpond Movement In funds In¢omlng Resources OUTce8 •xp•ndèd Bo1on¢e at 1 February 2023 Translern plance at 1 F•bruary 2024 TrAnsfe BftlAnc• at 31 knnuary 2025 R Jones CLC Workers MacKinnon other CLC workers Where most needed Fund Investm&nt in subsidiaries (Note 20) Intematbnal Councll Reserve Fund <1) Emergency fund (il) BELT Fund (111) Property Purchase Fund (iv) New Country Start Up fund Publish Devotional Book fund Netherlands Asset Fund 4,788 4,782 4,581 6,000 (4,788) (4.790) (4.623) (1,091) 3,817 (3,817) 41 1,397 (1) 5,446 801 24.909 1.909 38.091 115,000 9,000 4,705 2,570 1.445 (2,569) 4,649 (860) 2,242 801 2,500 1,909 57,922 115,000 9,000 4,705 204,493 19.909 1.909 46,373 115.000 9,000 4,705 5.000 1,069 (27,300) 3,822 4,000 (12,282) 19,088 743 231.686 (27,193) 199,143 24,151 27.574 4140 199,860 259,675 64,785 3,822 398,572 (i) The International Council Reserve Fund felates to monies set aside for the costs of the CLC International Council which is organlsed by the Charity ev8ry four years. (li) The Emerg8ncy Fund is a revolving loan fund made availab18 to CLC ministries In serious difficulties at the discretion of the Intamational Director (with agreement from the TrusteBS if the sum is above £5,000). Repayment terms wlll be drawn up as appropriate. (iii) The Bamabas Evangelical Literature Trust (BELT) Fund represents funds transferred from that charfty following the deClOn to (fwolve Ihat charity in January 2021. The funds are to be used for loans towards the work of CLC around the World. particularly for the purchase of property. (Iv) The Property Purchases Fund wa6 created In August 2021, comprisng the proceeds from the sale of the charivs former offices on Abbeydale Road. The funds are to be used for assisting the purchase of properties throughout the CLC fellowshlp. 19-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 18 Analysis ol net assets between funds Unrestricted Unrestrlcted Restrfcted funds funds funds general designated 2025 2025 Total 2025 2025 At 31 January 2026: Investments Current assetsl(Ilabllstte8) 8,028 158,449 801 397,771 8,829 710,544 154,324 166,477 398,572 154,324 719,373 Unrestrictsd unrnStrlct Restrlctad funds funds funds g•nernl deslgnated 2024 2024 T¢)tal 2024 2024 At 31 January 2024: Inve8tmenl8 Current a88etslOlabllltl08) 8,028 165,365 801 199,059 8,829 615,957 251,533 173,393 199,860 251,533 624,786 19 8ub•ldlarf Deta118 of the charlty's 8ub8idlarle8 at 31 January 2025 are as follow8: Name of undertaking Reglslered office Nthre of buslne•g Cl8 ol % Held Shares h•ld Dlract Indlr•ct Centre for Log18t1¢8 and Cow Bulgaria operalion Lld. Maranatha Ltd. CLC Romanla Bishkek shop CLC tligital Ltd. Chrf8fjan bookshop Ordlnary 100.00 Bulgaria Christlan bookshop Romania Christian bookBhop Central Asla Chrlstlan book8hop Untted Kingdom Dormant Ordlnary Ordlnary Ordinary Ordlnary 100.00 100.00 100.00 100.00 CLC Dlgftal Ltd (Co. no. 08582787), %thi¢h wa8 incorporated on 25 June 2013, was donnant for the pexiod 25 June 2013 to 31 January 2025. The Trustees consider thal ¢onsolldated accounts are not required as the aggregate gr056 income of the parent charity and ts subsidiaries, after consolidation adjustments. does not exceed the stalutory Income threshofd of £1 M (Charities Act 2011 (Group Accounts ) Regulations 2015). The net assets of subsidiary undertaking8 which are not material need not be dlsclosed In the parenV8 accounts. The Trustees Mnsider that the net assets of its subsldiaries are not material to the parent charlty and no dlsclosure is required, therefore, in these accounts. -20-
CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 2026 2024 SuTplus for the year 94,587 23.674 Adjustments for. Investrnent income recognised in stalement of financial actrvibe8 (9,291) 12,192) Movements In worklng capttal: Decrease in stocks {In¢xea8e) in debtors (Decrease) In credltor8 283 (357) (11,268) 465 (48,199) (1,251) Cash generated Iroml(absothd by) oporalkns 73.954 (27,503) 21 Anatysls of changes th net fvnds The tharlty had no material debt the year. -21