sawm arab woil¢J ministry ot Ardb World Ministries f u slei, Rp.porl lind AriniJ¢S1 Accc)iJn','" REPORT OF THE DIRECTORS ANO GENERAL INFORMATION sawm arabworm wthlslry•f PIgNEERS Contenis PAGE Report of the Trustees 4-10 Report of the Independent Audltor 11-13 Statement of Financlal Acthiltles 14 Balance Sheet 15 statement of Cashflows 16 Notes to the Account 17-23 2123 PknYEERS Dircctnr51Trusrees Mr P Elam Mr M S Hyde.............. Mr K Butler Mi55 E Ma885 Mr R A Mateer Mrj Sedrak Dr J R Hl¢kson...............lappointed 7 Aprll 20251 Dr S D Jenkins........... ...lappointed 7 April 20251 Mr P J M3ddocks..........lappointed 7 April 20251 MrEAAryee. .lappolnted 7 Aprll 20251 Dr K J McConkey...........(appolnted 7 April 20251 ,Iresigned 31 December 20241 .(reslgned 3111 December 20251 Secretary and Registered ()ff ice S Leader. .Ireslgned 2?h January 20251 37, Market Square, Wltney, Oxon OX28 6RE Registra'Liun Registered In England and Wales, no 3275009. The company Is limited by guarantee, and does not have a share capital. Aegi5tered with the Charlty Commlssion. no 1059106. Banker5 HSBC UK Bank plc, 31 Cattlemarket, Loughborouyh, Leics, LEII 3DL Principa I I nvestment Managers CCLA Investmènt Management ￿mited CCLA Fund Managers Limited Audilors Just Audit & Assurance Ltd, being a firm in professional succession to ReesRussell LLP. Chartered Accountants and Re8lstered Audltors. has indlcated thelr wllllngness to be appointed as auditor. trIb￿lmIn11￿ of P￿NEERs Charitable Ob'eciives and Status The CompanV5 principal activity contSnues to be the advancement of the Chri5tlan falth amongst Muslim peoples of the Arab world. The Company has charitable statu5 and 15 registered with the Charlty Commlsslon under reglstratlon number 1059106. Public Benef It The Dlrectors have had regard to the Charity Commi55ion'5 guidance, includln8 that on "Charitles Working Internationally" the general publlc benefit guldance 'Charities and Public Benefiv,, and the supplementary guidonte contained in 'The Advancement of Religlon for the Public Benefit". Other Charity Commission govemance 8uidance is also regularly shared with the direttors. Governance Structure, and Mana ement Arab World Mini5trie5 15 a campany Ilmlted by guarantee and reglstered In England and Wales Iregistered charity number 1059106 and registered company number 03275CQ91. It 15 a wholly-owned subsldlary of Ploneers UK Mlnistries, 8 company limited by guarantee and registered in England and Wales Ireglstered Charity number 1037154 and registered company number 02917955). We understand the importance of having strong governance and clear strategic direction to ensure the Charlty achieves Its objectives with continued 5ucces5. The Company's activitles are regulated by the Memorandum and Articles of Associatlon. The objects of the Company are: l. to advance the Christian faith amongst Muslim peoples of the Arab world wherever they may be found, and to promote the same in the UK through encouraglng prayer and financial support. 2. to relieve need, hardship, sickness or poverty amongst peoples of the Arab world. 3. to advance Chrlstlan educatlon and tralnln8 of people of the Arab world. These remain the objective5 of Arab World Ministries as a subsidiary of Ploneer5 UK Ministries. DirectLJrs & Chdrit.y I rustee5 The Board of Trustees have overall re5pon5ibility for the work of the charity. The Board does this by: l. FulfllllnE the obJectlves of the charbty, as set out in the governing docum?nt5, 2. Safeguarding the charitvs resources and finances and ensurlng they are utlllsed to the upmost advantage of the beneficiaries. 3. Upholding stakeholder trust through accountable practice5. 4. Ensuring the Board operates effectivelv. 5. Implementlng strong safeguJrdlnB processes. The dirertor5 listed on p38e 3 have served throughout the year, save where Indlcated. The director5 of the Company are also the trustee5 for the charitable a¢tivitie5 Of Arab World Mlnlstrles. The UK Natlonal Director was Phil Elam, untll h15 resi8n8tion on 31st December 2024. He worked alongside the Natlonal Director of Ploneers UK Mlnlstrles from I" July 2024, when the two organisations merged. Organisation and Structure Appointment and Training of Directors The charitable company ensures that existlng dlrectors are kept Informed of the actlvltles and performance of the charity and are provlded with regular management information, The directors contlnued to meet regularly durlng the year to revlew all aspects of the Charlty. Includlng the composltlon of the Board and will seek to appoint additional member5 Wlth approprlate skills and expertise Should the need 3rise. Interested parties are glven details of the background of the charitsble company to make them aware of the current artlvltles. Organisational StrL*Cttsre The day to day management of the charltable company Is undertaken by the UK Natlonal Dlrector and the senior leadershlp team who meet regularly. Pl￿WEERs Charitable Activities The charltsble Company has continued to pursue its main objectives as Outlined above with a primary focu5 upon the advancement of the Chrlstlan falth amon8St Musllm peoples of the Arab World. In overvlew, fleld-based Christians involved have been ministering by: l. Ralsing awareness and understandlng of the Christlan faith among Muslim peoples of the Arab world- 2. HelpinE t9 support Chri5tlan chtjrches in the Arab world. Our engagement wlth enqulrers avolds negatlve comments about other bellefs and Include5'. Making Christian teachln8 available in Arabic, French and Kabyle (languages of the Arab world} over the internet. in printed materials and through online or broadcastlng medla. Linking up Isolated Chrlstians with other like-minded people. Responding to eriqulries about the Christian faith received in face-to-face meeting5. in correspondence, and through onllne media. IEnqulries from all I￿atiOnS are welcomed. a5 mony Arab world peoples are to be found In Europe, North America. and elsewhere. All such enquiries are answered free of charge). Taking special care to remove misunderstandings about the Christian faith which are commonly held by many from the Arab world. 5123 4ribworldrtlrtiitty4f Pt&WEERS vui" The Tralnln8 Hub contlnues to provide the focus for our trainin8 for people wantin8 to work with people from the Arab World. As our members and volunteers prepare for overseas as518nments, we seek to traln and equlp them as part of the Hub. We are continuin8 to support ex¢stin8 UK Chyrch connecilons with tralning as well as respondlngto new opportunltles. We prov¢de both regular and specifically tall0￿d trainlng events useful to our members and the general UK Church. Our trainin8 happens both In person 8nd onllni allowln8 US to malntaln connectlon wlth members and volunteers throu8hout the LIK. L()ryirnuFiif4JliiiLi wil l) Ltriiistwn tsJi()upN Our representatiwès t¢ur UK thurchès, conferences and student groups to Inform and inspSre Chrlstlan worship servlce5 about m*nistry in the Arab world. Two year5 on from the end of the pandem4c in 2022. Church invitations to our church representatives to glve updates about our work has bounced back to near pre.Covld levels. We approach churches and offer both In-person and onllne presentatlons at zoom meetln8S. We are pleased to see a range of churches connect wilh us from a varlety of mainstream Christian denominations. In 2024. we vlsSted or held onllne zoom meetin8s wlth around 120 Churthes. Our monthly zoom prayer evenln8S continued to be attended by around 40 screens (around 60 people each monthl. I)¥EiVLir ari(1 pul)lirJti<)n We rnaintJin a ran8e of communication methods to connectwith diverse a8e groups and supporters across the UK and Iretand. We share content of our actlvltie5 acros5 publicatlon5. website and social media. Our Én-hou5e ma8azlne publlcation, which we produce quarter￿, was direct￿ mailed to 7000 5Ltpporting churthes and Individuals in the UK and overseas. This Is produced to inform, encoura8e* and challenge our readers as thoy learn about how God Is at work across the re8ion. The contents Indude storles of fatth and Impact, 8￿￿arKe for the next 8eneratlon of ploneers and updates on prolert5 In ￿rtain re8ions amons Ar3b peoples. Again, many have exprÈssÈd their gratitude verbally and have donated to our humanitarlan appea15 to meet sotial and spirltual needs to people In the Afab world. In 2024, our quarterly email dlstrlbution was around 700 email addresses. Our quarterly prayer dlary, whlch facllltates prayer for the re8lon, was sent to approximately I,CQO recipients. and our fortnightly prayer update to approximatety 900 individua15 or groups. We also update nearly 350 churches each quarter, with an emall. Our onllne ma8a2ine saw an Increase In uptake and is now emailed to nearly ISO people per quarter. Ci)11,.:IxJrdlJi)rs Ctsllaboration is important to us and so, where It is posslble. we have partnered wrth other charitable or8anlsations whose objectives to raise awarenèss. stlmulatp interest and encourage active invofvement in ministry are simTlar to ours. This has been particularly true as we have sought to move tCMMard mergin8 formally wlth Pioneers UK. (4Ipvi¥iLth r)vi'rl, hffjrdship. -sR.'kFlf'.Ss %>r piwr.dy We support members who serve In medlcal profe$51ons, provid5n8 medkal care arnon8 peoples of the Arab world, both In Africa and Asia. The medkal care is pro¥ided on the basis of need. Payment for dru8s or tests 15 requested if possible. No other ¢har8es are m4de. Whore It has been posslble, we have sou8hi to support Arab world Chrlstlans who have been dlscrimlnated against on the basis of theirfaith. This happens thrO￿h Chri5tÈans who are 5UPPOrted by the cornpany to help to provide escape from dan8er, advise on edu¢ational ¢)pporturtilies, and splrltual en¢oura8ement, Ensurin8 the motives of ChrIstl￿5 wlll not be called Into quest5on. we would generally be agalnstlust provldlnB money. 6123 4rièwotMmlnlsTryoI pI@NEERS Advancing Christian education and tralning Through contributions from the company. courses have been developed In several languages for those from the Arab world who seek to discover more about the Christian faith. Through its members, the company has contrlbuted towards the development of courses for Arab world Christian5 to develop their understanding of Christian teaching in order that they can go on to teach others. Resources have been contributed to the trainlng of individuals, to facilltate them being more adequately equipped to develop Christian training materials suitable for use amon8 peoples of the Arab world, Pioneer5 UK and Ireland Our charity continue5 In the latest chapter of our rlch mlsslon hlstory by Inte8rating fvrther into the Pioneers family. Our UK moblltsatlon offices merged operationally on l July 2024. Our vision for Arab peoples Is stlll very much at the heart of the objects within the merged entlty- Indeed our existing objects are contained within the new entltys oblects which will become known a5 Pioneer5 Arab World MinSstrie5 UK and Ireland. This decision is driven by our belief that our fnoblli53tion effort5 will be enhanced through this rnerger- we CDn5Fder thls a great opportunlty to see the fulfilment of our objerts among present and future beneflclarle5. In the autumn of 2024. we made thi5 news public amon8 the Chrtstian public via the webslte and communicated directly wlth our supporters via a letter. We have subsequently launched a rebrand in 2025 a5 well as organised a series of supporter events hosted b¥ supportlng churches across the UK in orderto share our vision for the comin8 years. 7123 4r•b wvl4mlnlSlry&f PWEERS Financial Position The accounts for the twelve months begin at page 14. They show slx months of pre.merger actiwty, the transfer of assets and the fact that all transactlons after 301h Junè 2024 are included wlthSn the accotjnts of the merged entity. We are pleased to report that for the first slx months, our donatlons to the general fund were consistent with those recelved In 2023. ThÈ18tter slx month5 Saw a slight decline, but we are en¢oura8ed that our donatlon5 to the restrltted funds have seen a sSgnlflcant increase. Fufidrai5in We are deeply grateful for the contlnulng generosity of our supporters. A5 giving h4bits evolve, we continually adapt our fundraislng approach to ensu￿ it aligns with the dlverse ways people those to enga8e and contrtbute. We recogni5e that we owe our exlstence to the dedication of our Incredlble supporters. RÉGViATO# Fundraising continue5 to be reviewed agalnst the Code of Fundraising Prattice and we are reglstered wlth the Fundraising Regulator. We strlve to reSp￿t and honour our 5UPPOrters wlth our fundralslng and are pleased to note our good fundrai51n8 practices. We share our passion for the region and it5 pe¢)ple with charitable trusts as we communicate the strategic need to mobi115e the next generation of pioneers into our work. This is another key source of funding where we look to build and sustaln long-term pBrtnèrship relationships with these key Insti￿tIOnS. The lotal fund5 received in 2Q24 through trust 8ivin8 was £25.51)J12023: £45,0￿1. We undertake direct mallSn8 to our supporter5 and thi5 15 a key Source for our donation Income. This takes the form of a letter to approxIMate￿ I,IXMJ supporters on a quarterly basis thankin6 them for their generosityi updatin8 them on ministry with encouraging storfes of how the work is pro8ressin81 and highllghting other area5 of need across the re8ion. We contlnue to Identlfy key area5 for improvement and invest strate8lcally to enable meaningful change. Our major initiative underway15 a substantlal CRM transformation programme aimed at upgrading our technology platforms and streamllnin8 data management proce55es across the or8anlsation. Thls Investment will not only save time and enable smarter use of re50urces, but will also enhance our ability to build loyal and rneaningful supporter relati¢Y¥ships. Dala PTOtecLivn and GDPR We continue to comply with the Data Protection Act 2019 and General Data Protection ReBulations wlth key appointed staff and trustee members to help monitor our on8oin8 responslbllltles Investmeflts During the year we contlnued to hold Investments throu8h CCLA and recelved a satlsfactory amount of inc¢xme. During the year the market valuètlon rose compared with the prevtous year end. We are keen these Investments remain ethical. Reserves The majority of unre5trlcted funds Is traceable to the sale of surplu5 builthng5* and hovin8 completed the purchase of new office5 in 2020, the Trustees supported other projects and are conslderlng further projects to be financed out of the reserves. The Charity recognises that it has è m(Yal reswsibility to maintain the Income of Certain retired workers at an acceptable level, and this Is funded out of 8eneral resernes. The reserves of the Charlty are now encompassed within the reserves of Pioneers UK Mini5trie5. 8123 sa!Im arab w￿mInISTry01 PknNEERS Related Part Transactions Durlng the year one director was remunerated for hi5 servlces as an employee of the Charitable cornpanvi detai15 of thls are shown in note 16 to the accounts. There is also an amount due to a company controlled by two of thls company's directors, but whlch has been dormant for over 35 years. Goln Concern On I" July 2024. the Charlty merged wlth Ploneers UK Ministrles and the buslness actlvltles and assets were tron5ferred to the merged entity. The direttors Consider that the rnerged entlty Is a 8oln8 concern. and expect to be able to continue operations in a suitable way into the indefinite future, Rlsk Mana ement The Dirertors take rist management serlously and have received trainiftg to ensure the company is considering th15 area thoroughly. Admln15trative and financial risks common to orBan15atlons of this size and complexity are managed using hlgh quallty IT systems and suitably qualrfied personnel. adviser5 and investment mana8ers. Great Care is taken with the process of recrultment and selectlon of our members and charlty volunteers. Considerable emphasis is placed on their career-long 5UPPQrt and training to enable them to continue to make their best contributlon to the charivs objertives, and to mlnlmlse the rlsk to them and to the reputation and effectiveness of the Charlty. sawm PE&YEERS Statement ot DireGiors' Re" The director5, who are alsothe trustee5 of the charltable activities for the purposes of charity law, are responslble for preparing the directors, report and financial statements In accordan￿ with generally appltc3ble law and UK Accounting Stsndards l UKGAAP ). Company law requlres the dlrector5 to prepare financial statements for each financial year whKh 8lve a true and tair view of the state of affairs of the company and of the incomlng resources and applicatlon of resources of the company for that perlod. In preparing these statement5. the dirertors are requlred to.. Select suitsble accounting policies ènd apptythem consistently: Observe the method and prlncSples of the d)aritie5 SORP; Make judgments and estlrnates that are reasonable and prudent,. State whether applicable UKAttounting Standards have been followed. subject to any material departures disclosed and explained in the financ￿1 statsments: Prepare the flnancial statements on the going ¢oncern ba515 unless it Is Inapproprlate to presume that the company wlll continue in buslness. The dirertors are responsible for keeplng adequate ac¢ountlnB records that distlose with reèsonable accurary at any time the finantial posltlonthe company and enable them to ensurethat the finandal statements comply wlth the Companies Act 2006. They are a150 responslble for safekeeplng the assets of the tompary and hence for taklng reasonable steps for the preventlon and detection of fraud and other irregulafltles. In so far as the directors are aware: There 15 no relevant èudlt Itfftirm#tlon of whKh the companrfs audltor is unaware; and The directors have taken all stepsthat they ought to have tsken to make thetrselves aware of any relevant audit inforniatlon and to estsblish that the audltor is aware of that informatlon. The directors are responsible for the maintenance and integrity of the Corporate and financlal Informatlon Include on the companvs web55te. Le8lslation In the UK governing the preparatlon and dlssemination of financlal statements may dlffer from legislation in otherjurisdictlons. These accounts have been prepared in accordance wlth FR5102: The Financial Reportlng Standard applicable in the UK and Republic of Ireland ( March 2018). Signed OD behalf of the Dlreclors Julie Hickson Dote: 04 )J? Qf) '3L> I I WU￿￿MIn￿r¥Ot Pl￿EERs lThJe endent Auditors, Re to the members of ARAB WORLD MINISTRIES Oplnlon We have audited the financial statements of Arab World Minlstrles for the year ended 31 December 2024. whlch comprise the Statement of Flnancial Activstles, Balance Sheet. Cash Flow Statement and the related notes. Including a summary of significant accountlnE policies. The financial reporting framework that has been applied In their preparation is United KinEdom Accountlng Standards, comprising Charities SORP- FRS 102 'The Financial Reporting Standard appllcable in the UK and Republic of Ireland. and applicable law (Unlted Klngdom Generally Accepted Accountlng Practice). In our opinion the financlal staternent5: give a true and fair view of the state of the charitable company'5 affairs as at 31 December 2024 and of its Incoming resources and application of resources. including its income and expenditure, for the year then ended: have been properly prepared In accordance wlth Unlted Klngdom Generally Accepted Accounting Pract[￿,. and have been prepared in accordance wlth the requirements of the Companie5 Act 2006. Basls for oplnlon We conducted our audit in a¢tordance wlth Internatlonal Standards on Audltlng IUKI {15As {UKI) and applicable law. Our responslbllltles under those standards are furthèr descrlbed In the Auditols responslbilltie5 for the audit of the financlal statements se¢tlon of our report. We are Independent of the charltable eompany In accordance with the ethlcal requirements that are relevant to Our audit of the financial statements In the UK. In¢luding the FRCS Ethical Standard, and the provisions available for small entitie5. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audlt evldence we have obtained Is sufficient and approprlate to provide 3 basis for our opinion. Condusions relating to golng concem In auditing the ftnancial statements. we have concluded that the trustees use of the goSng concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not Identified any material uncertalntles relatlng to events or onditions that. individually or collertlvely* may cast significant doubt on the charitsble company's ability to contlnue as a going concern for a period of at least twelve month5 from when the financial statements are authori5ed for Issue. Our responslbilities and the responsibllitles of the trustees with respect to golng concern are descrlbed In the relevant sections of this report. Iy23 ar•bwprtd pieNEERS Other Inforniatlon The other Information comprise5 the Information Included In the trustees, report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements doe5 not cover the other information and, except to the extent otherwise explicltly stated in our report, we do not express any form of assurance conclusion thereon. In connertlon with our audit of the financial statements. our responslbility is to read the other informatlon and, in doing so. conslder whether the other information is materially inconslstent wlth the finantlal statements or our knowledge obtained In the audit or otherwlse appear5 to be materially misstated. If we Identlfy such materlal inconslstencies or apparent materlal mlsstatements, we are requlred to determine whether there Is a material misstatement in the financial statements or a material mlsstatement of the other nformatlon. If. based on the work we have perfomied, we ¢onclude that there Is a material misstatement of this other inforrnation. we 4re requlred to report that fact. We have nothlng to report in thi5 re83rd. Oplnlon on other matters préscrlbed by the Companles Art 2006 In our opSnion, based on the work undertaken in the course of the audlt.. the information given in the trustees, report, whlch includes the director5, report prepared for the purp05es of company law, for the financial year for which the financlal statements are prepared is consistent wlth the financlal statement5", and the dirertor5' report Includèd wlthln the tru5tees' report has been prepared In accordance with applicable legal requirements. Matters on whkh we aré requlred to report by exceptlon In the light of the knowledge and understandlng of the charitable company and its envlronment obtained in the course of the audlt, we have not Identlfled material mlsstatement5 in the dsrectors. report included within thetrustee< report. We have nothing to report In re5pett of the followlng rnatters in relation to which the Companies Act 2006 requlre us to report to you if, in our oplnlon; adequate and proper accountlng records have not been kept. or return5 adequate for our audlt have not been received from branches not vlslted by us: or the financial statements S￿ not In agreement with the accountlng records and returns; or certain dlsclosures of trustees, remuneration speclfled by law are not made: or we have not recelved all the information and explanations we require for our audlt.; or the tharity has not kept sufficient accounting records, or the trustees were not entttled to prepare the financial statements in a￿ordance wlth the small companies regime and take advantage of the small companies, exemptions In preparing the trustees, report and from the requlrement to prepare a strategic report. Responslbllltles of trustees As explained more fully in the trustees, responslbilltles statement (set out on page 8), the trustees {who are also the directors of the rharitable company for the purposes of Company lawl are responsible for the preparation of the financial statement5 and for being satisfied that they glve a true and falr vlew, and for such Internal control as the trustees determlne15 necessary to enable the preparatlon of financlal statements that are free from materlal mSsstatement, whether due to fraud or error. In preparin8 the financial statements. the trustees are responsible for assesslng the charitable company's ability to contlnue as a 80ing concern. dlsclosing, a5 applieable, matters related to going concern and usln8 the golng concern basis of accounting unle55 the trustees either Intend to Ilquldate the charitable company or to cease operations, or have no realistlc alternative but to do so. 12n3 r*b*lOrld thlnhiryof pieNEERS Use of our report Thls report is made solely to the Charltable Company's members, as a body, In accordance wlth Chapter 3 of Part 16 of the Companles Act 2006. Our audlt work has been undertaken so that we mlght state to the Charitable Company's members and trustees those matters we are required to State to them in an auditor'5 report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the Charitable Company) the Charitable CompanV5 rnember5 as a body. and the Charitable Company'5 trustees as a bodyi for our audit work, for thi5 report, or for the opinion5 we have forrned Jo than Russell (Senlor Statutory Auditor) r and on behalf of just Audit & A55urance Ltd, Statutory Auditor 37 Marketsquare Witney Oxfordshire OX28 6RE Date:.... 13fa3 STATEMENT OF FINANCIAL ACTtvrriES {Intt•rporating an Intorne a*d expendltr¢ a¢¢ount) for the ended . 3 1st D¢cwnb¢r 2024 PWEERS 2024 2024 2024 2023 2023 1023 Unrestricted lies￿leted Unrestricted R¢stritted Reference Notes Funds Funds Toral Fu#ds nds Tot81 Income and endowlrnents from: Donakns and legatles 224,322 24584 5.037228 1.261.550 495k*94 1.9B7257 2.482.951 24,584 45h56 350 46.TrJ6 20 6.51 5,000 Tradin8 Activitte¥ 1317 1317 4555 4555 Total 257,723 1,037.228 ,294.951 550,905 1,987.607 1538512 Exp8ndknre OIL. Ralsing fvttds Chatitabb a¢dvitl¢s 46,365 4&365 105.307 105,307 2,446,285 416.962 999.3CYI 1,416.262 750.295 1,695,990 Govemance costs 11.702 11.702 474,539 999,3(X) 1,473.839 867.304 Ih95.990 1563.294 Nrt Inc¢Jmvl{expendlturt) TraTr51er5 between fund¥ QIU161 100.667 37.928 (lQQ664 (17&888) {316.399) I61￿7 291.617 1161(K17) P4,7821 Other recogn15ed gairt5 1 (1055es): Gain l Ooss) on 1rNe5tm￿t 355ets 3Q774 30.774 110.678 110.678 Net movtment in fund¥ (85,375) {62,739) {148,1141 (43.714) 129.610 85.896 E*¢Bp￿0￿al ro5ts Net Incomel(expendlwre) TOTAL FUNDS brou8h¢ fgrYRrd 185,3751 1,404,115 16L739) 1,165A18 114&114) 1569.933 143,7141 1.447,829 129.610 85.896 1,036,2C 2,484,037 TOTAL FUNDS ¢arrled foryfarkf at 30June 2024 FUNDS (ransf•rr•d on m•ry•r on I 2024 1.318,740 (1.318,740} 1,103,079 2,421,819 1,404,115 1.165.818 1569.933 (1,103,079) 12.421,8191 14123 Re*$tw¢d In ETrBland and Wale5- No. 327S009 BALANCE SHEET aiabv40ihl￿l&try PI&YEERS for tho ye4r end￿- 31st Dec•mber 2024 2024 2024 2023 Flxed Ass•ts 453.017 10 I￿•stMents 1,367.045 1.620,062 Curr¢n¢ assets Bank & S¢xiety balances Cash fl03ts- Area representat*Yes Stock 669,298 550 5.328 Other Debtort & Prepaymenrs 135.766 810,944 CT•dÉrorK tslling due wKhin oTh¢ year {61.073} N•t Current AM*ts 749,871 Total Assets less Current Llabllltt Cr•dttors Am?¥nts falllni due aft4r one year IS69,933 14 15 Net Assets 2,569,933 Unre5trirted Fund5 Unre5rricred F￿d9 1,194,986 109.129 Designated Funds 5.404.115 16 Restrl£t•d Fund5 1.165.818 1569,933 These accounts have been prepared In accordance with FRS IOL. ThE han¢ièl R¢pprdng Stsndard applicalAe in the UK and Republic of Ireland { Mllrth 2018). Juliè Hickson KIJ The note5 on the following pages forn part of these finan£ial statements 15123 R¢slit¢r¢d In England W•l•i- No. 327S009 STATEMENT OF CASHFLOWS If4b￿*mInIstty•f PBNEERS for the y•ar ènd•d- 3 1st Décèmbér 2Q24 2024 2024 2024 2023 2023 2023 Unre5tricred Funds Restrlcted Funds UnrE5tricted Restricted Totsl Funds Fund% Totsl C¥h Ilows from op•ratlnK activ1￿85 Net toh PrnTded ty (used in) operebTrx 161.4141 174,lQ41 1135.5181 1281,3091 136.853 1144,4561 Cash fiows from In¥ertlng actl¥ldè5 Dr*idends a*d intqres¢ frotn Inv*strnEnts 24.584 24,584 45.656 350 46,QQ6 Pr¢ceeds from sale of sroperty, les5 expeni Purcha$e of eqviwnent Proce*d$ from sak of inY05tmBnts 116681 150,(4)) 12,6681 11981 11981 34,068 150,0 Purrha5e of inVestm￿ts 1150.OthJI lis0,c<￿) 21,916 134.Q681 11,390 I34￿68) Net ccsh pro¥xfed by (￿e￿ in) operotiryx ocbiites 171.916 34,418 45,808 Cash flows from financln¥ actlvltl R4pay￿ntt of borro%￿ng Cashflows from new borrowing Retelptof endowment Net cojh {used rft) finttndn¥ octivitres onge in cash ortd cush eqvwoleftts in the ￿r and cash equiY8lents at the beglrtnini ofthp yNr Cash ond cosh equw¢l•nt% or the end ofthe y•or 110,502 P24.1041 7￿,￿3 1113,6021 669,848 1269,9191 171.27J 19&6481 1102.3051 167,614 1102,3051 600.882 768.4% 8,197 548,049 556.246 772.153 669￿8 RECONCIUATION OF NET INCOMW(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES Net income/lexpeThdl¢urel fo¥ the Ye4r. norm•1 IBS.3751 1617391 1148,IL41 143.7141 129,610 85,896 Exceptlonèl Adlustmentsfor. Depreclatlon ch*r8e5 lfjJknsMosses¢n inve5tmersts 6,865 6,865 18.201 18,201 130.7741 124,5841 130,7741 124,5641 1110,6781 145,6561 IJIO.6781 Dfvldends. Inter¢s¢ and rnnts from Inw5trn*nts 13501 146.0061 Lossllpfoftti an the s•le offixed •55ets Increaselldecrease In steeks IlncreaseMdecre8se In debters ltttre4selldecre3sel In uedltors Net cash pro¥lded by (used Inl operating actIvI￿e5 1,036 1.036 458 458 64,560 4,369 115,7341 174,1041 68,929 198.0461 11,8741 1281,3091 14.lni 11012181 9,891 6,858 18,8765 11,765 161,4141 1135,5181 136,853 1144.4561 ANALYSIS OF CASH AND CASH EQUIVALENTS 8ank balènces 7.647 548.049 555,696 1102,8551 772.153 669.29A Cash fh)at5 550 550 550 Totd (osh cush e￿￿￿ftts 8,197 548,049 556,246 11013051 7n,153 669,848 16ll3 NOTES TO THE ACCOUNTS for the year ended. 3 1st D¢rAmb•r 2124 pt8N&RS Accounting Policios Accountift8 Conventlon The accounts of the company are prepared under the hi5toriol co¥i coThventK>r4 except for the revaluaiton of investmemts #nd freehold property and In a¢than¢e with Statement of R￿9mMended Pra¢tyce tsn A¢¢ountyng by Charities and FRS 102.. Th¢ h'Dan¢ial Reporring Standard applioEAe the UK and Rwbfi¢ of Irel•rO { Mar¢h 2018 1 and inci#porare ¢he of tht prlncipal athlEles whKh are descrJ)¢d in the Director5. Report and which are cork￿ul￿g. In¢om• Donation5 are acco￿￿ed for when received by company. Othw incom4 induding kgacy ir￿Ome, is accounted for on an acuuals basi5 so far as it ks prudent and prnctical co do sth IrKome inC￿deS income rax racoveribl& Legades Le£acies are *ccountsl for on irE xcrual b3515 50 hr a5 it 15 prudentto do 59. Expendlwr• EyendirtsrE is ￿lo¢l￿d to the releydnt Cost tategory n acc0th￿l￿b intemJl guide11r￿S i¥5tsEd by the tharity and Is apprcpriate ro the Use derNed from the rwour¢p% Gvants RÈvenue grart5 are credited to the incDme and expendiwre account gs received. ￿lesS related to a specifir period whw it 15 pknd in a restricted fvnd wtil ¥Ned. vi) T*xatlon The company h35 obwfied charitable 5tstU5 and is genwally exempt from income tax and capital 8ain5 tax bjt nor from VAT. Irrecoverab￿ VAT is included in the c05t of those item5 to whith rr rdote& vil} Investments Investments are shown at market value and realTrsed losses are t￿en to the income ind expendEwre 2ccovrbL In￿llnent income ha$ been taken into account OTr the basis of the ¢SJe date of paymenL viiil Depreclatlon Deprédation of t&nOble ¥ssets 1$ provlded at th• followng annual ra￿ kn order to writ¢ *)ff ¢ath a85tt over Its e¥tlmat¢d usefijl IW&' Freehold pr¢p¢rve$ 2% 5trai8ht I￿e Ma￿r C ￿y￿bI¢ and ¢*)nrrlbud¢r4 actyjally paid in the year are showm as wther debLof5 r)r creditor5 in the &lanre she th) Tronrfer between lunds ran5fer from re5rritted funds. relates to adminlswation charyes r￿￿ty￿ tp the rnaFymEnC ofrE5trthd knrornin8 resource4 adlvsted Sx fvnd deftirs be¢wun years. xv) Mwnber •ss¢ts When Memb¥s purch•5¢ a5xts ihe5e arE written off in year. xvi) Rld• to Work Seheme Sr•ff hav¢ tho OPt￿n w be part of a Rlde to Work trAt li fvndtd tylw sattifi¢e. Items ar• purehased as an •sser and deprecRted at the same rate as salary sacrificg dedu¢uon5 are mad NOTES TO THE ACCOUNTS {rOn￿MU•d) for the ytsr ended- 31st Decty￿ber 2024 •l•bw•thI ￿n￿try01 PI&YEERS UThrestrk¢ed Restricted Funds ndi Totsl 2023 Donations and LegaciB% GtfL% & Donaoons 177.794 1.037228 1.215,022 1341.300 4&528 46.528 224.322 1.037,228 1.261,550 1482.951 L¥acies receNed after the b*14n¢e sheer dare ITr respect of e5tatss alre3dy in 3dmini5tratioft are tc£rued in the baJan¢• Othér srireg In the course of adrnini$cra¢ion where the amount can be prudently vstimared #mounted to £nil12023: £22,000). lTrvestment Income l#c¢rtx R¢¢tlved 24.584 24￿84 4&CQ6 24584 24,584 46,IXt6 C05t of Rai￿n8 Funds Staff costs 39,982 30.982 80,394 Fljblicity & PromotSorJ 14 8,955 11637 Proptrty Costs Motor & Trnv*l 1206 2,206 3.374 734 734 1,873 Other EX￿rIseS Déprnciation 2.417 1417 4,118 1.057 1.057 2,803 105.307 46.365 46.365 Chwltable Artlvltie$ Mlnlstry Costs Suppt)rt & Allowancej Project aXPondlwr* Offi¢¢ ¢o$ts 167,536 694.159 305,141 861,695 305,141 929 1,620A03 336,554 929 Propery & ace0rnff￿dtt1ort ¢osts Pthlktty a Promotion Motor & tt7V 255 2,22S 1 5,240 11794 12,794 14.743 4.IC#) Depreciatton Offlce & Admlnlstratlve ¢xpens•s Staff costs 143,719 4&499 143.719 277,684 Office Costs 46.499 98.847 Proptry Costs Publiuty & Promotion M¢xor & Travgl 10.082 3.699 4,958 14,935 5,808 10.t*2 16.938 3.699 6,471 4.958 7,303 Other Expenses Depre¢iarion 14.935 25.662 5,808 15.399 411962 999,31XI 1,41&261 2,446,285 18123 NOTES TO THE ACCOUNTS (tontlnued) for thè y*ar ended . 31st Deeember 2024 Ir•bworld ffthlitry•r PhYEERS Unrestrict¢d Restricted Funds Funds Total 2023 Governance Costs Audit 10.175 1.037 111175 1.037 1787 1915 Tru5tee5' expEf15e5 11212 11,212 11.702 Trusree%' eynse5 relicB to traYeL office c05t5 and and were I￿￿re￿ on behalf Dfthe whole board. Net In¢om¢ B¢fore Transfors 2024 2023 The nec Incoming re$our¢•s belore transfers are aft•r chargln D•prt¢iadon of r2nglble fLK8d ass•ts 6.865 18201 10,175 27,495 222.639 8,787 Directors, remUnera￿¢n I Includlng Employer's Nl l { note 161 Sraff costs Inote 8) 60.458 449,5 Staff Costs (includlnK dlre(tors) 2024 2023 SiFarias 209,691 429.486 37.434 Employ•rs Na¢ional Insuran¢• Pension Contribution5 18.f27 21,516 43.136 250,134 510.056 The average number of staff Ilneludlns dlrecfors) empbyed by the tharirrf durlng the year as folltsv4% 2024 2023 Mission & SL*POrt Manymemi & Admini¥tration Extern￿ Relationships & fundraising 17 16 No employee was paMI in txcess of £60.000 Staff pensh)n contr#>uriorts oursranding at the year end £3.54512023.. Q.8181. In addition to em*ee5 there were lg member5 at ts end oflune 2024 IDecember 1023.. 181 whose pay is proc￿ed through the Ch?ry's payroll but who are totally dependert on 5LWOrt they fdise for their Sa￿TieS. These cosrs are $hown wlthin the restrlctEd allowances IrKJte 51. 19n3 NOTES TO THE Accoufrrrs (contlnued) for the y¢ar ended- 3 5$¢ D¢cember 2024 saw ¥abworld*iry P16NEERS Fixwl Assets Freehold Flxwr•s & C?mwrter Equipment Total Prop¢r¢i nq5 C05tlValuatlon As at lstJanw 2024 Addition$ 481383 23,131 51614 1668 559.128 2.668 D￿PosI As at 30th lune 2024 182.383 23.131 55.283 560.796 Ac¢ymulatsd dèpMcl*tlon A5 at l$t]anuary 2024 Charge for the ye¥ Depreciation on d¢5P05aJ5 3&592 1&623 49.896 4.823 947 1,095 6.865 As at 30th lune 2024 43.415 17,571 50.991 111.977 Net book value As at Istlanuary 2024 As at 30th lune 2024 Transferred on merger As at 31st L)Kernb4r 2024 443.791 507 2.718 453,017 438,968 143&9681 4.291 44Q819 15.5601 14,2911 (448,8191 All ofthe above assers are used tt> further the Chariy'$ 04ects. C•pl¢al ¢omml¢menrs at the end of the year w¥é £thll { 2023.. Tr111. In 2019 the ciJmpatV PFJtchased a freehold offKe bulldivd for its own us4 at a c05t of £43178 and inctsrred further costs in 2¢)20 before o¢•Jpyt41g 5¢ as its w IpadqLMrters. 10 Investments Irwestmerts are held primarily ¢0 prgvide an Investmenc reLUrn for the charlty. Th* market value of the pothlio Is daterrnlned by rafvence to investment ￿Er5. repprts. I Porrfollo &Jmmary Unre5tr4Cted Restricced 2024 2013 Funds Fun& Ma￿t Value at IxlaFW*ry 2024 Pur¢hases ond S•1¥ 967.045 {1 So,0￿} 30.774 4th).000 1,367.045 1.256.367 150,000 Galn l {L055> roYal￿￿tiOn 30,774 1111678 Market value at 30th June 2024 Trknsferrad en Merger Marketvalue at 3 1st Decemb¥ 2024 847,e19 1847.8191 550.0 1.397,819 1.367,045 (s50.[￿)) {1.397,819) Th¢ maiorfty of invesTmenu ¢oniist of diverse portfoltsjs of inve5fftnt fvnd5 rnan￿ed by CCL4 Ivvesrmen¢ Management Lrd. 2 Investment Pdlcy The comFAnls investrnent policy aims to Produ￿ term •1 growth togpth¢r wdth a rea$on4bl¢ income. 20123 NOTES TO THE ACCOUNTS (contlnu•d) for the yw ended- J 1st Detèmber 2024 sawm piaiiEERS Stock 2024 2023 Liter2tur¢ stock for resale as at 30th Juna 2024 TTan5ferred orl meryr As at 315t Decernber 2024 4,292 5.318 (4.2921 ¢Xh*r Debtors Lepcies GftAid 1&360 16.179 I05.(￿1 15.869 PrepaymeThrs Other Debtors 21.414 10.787 14.899 As a¢ 31khJune 2024 Transferred on meryer As at 31st Decefflb¥ 2024 66,840 135.768 166.840) 13 Amunts falling dve vlthin one year Yraftsmlsstons 10,214 SatJrie5 & Wège5 Creditors Accruils 2,668 6.206 19.079 10.6S2 Creditor5 21,542 19,563 14.426 WorkBrs' Pen51on Funds 15.028 As at 30th lune 2024 Transf•rr•d on merger As ic 31 sr D•¢•mber 2024 52.IY8 61.073 {SLI 981 14 AT￿lysIS of Net A65e¢s Betwwi Funds UnroStricted RestrictBd Total Toral d5 F￿￿JE 2024 2023 Fixed A55ets 453.017 1,367,045 810,944 {61,0731 Current knets Current Liablities Long Term Llabllkles Ne¢ Asseu 2.569.933 21123 NOTES TQ THE ACCOUNTS (continued) for th• year ended. 3 1st December 2L124 P￿EERs 15 Analysls of Funds Transfqrs I Balance 1.1.2024 In¢am¢ Expenditure Adju5tmont 31.112024 Restrlcted Funds Ed¢Jcatyon l Humanitarl 191.704 23559 (99.731) 116w) (181,699) 5,2921 11.55 575 116.107 Media 1.738 21.102 (Zllo) 13.5931 3,868 70.584 Nacional Wor￿5 99.601 27.409 156275 Other l Relief 6258 28.281 UK Projecrs 7,828 4.102 13801 9.993 3U280 211,296 1305.141) 15.602) 228A33 Non UK 44.654 35.106 38,2901 (655.8691 {3,420) (91.6451 3&050 836.196 UK 791884 790.B26 837,538 S25,932 (694.1 $91 195,0651 874.246 Total R•strlrted Funds as at 30th Jun• 2024 Trahsferred on m¢rger T￿1 •$ at 31 rt December 2024 1,165.818 1037,228 (999.3001 (1￿.667} 1.103.079 (1.103.079) Deslgnatsd Fund$ Medical FutMI 13.397 127.7021 (44,1791 24.532 10227 UK MinistriB5 121.963) 2QlJOO 1,450 (2Qm)) (Y,3131 ODFC DorrdrH3n Fund 83.838 76,525 Regional Expwion Fun¢ts 113.857 113.B57 Total Des1V￿ted Fund5 as at 30th Jun• 2024 Tr￿s[¢rred 1)n meryer Tot￿ 4s at 3 1st December 2124 209.129 1,981 171M811 8,669 147.898 1147.8981 G•n¢ral funds G*neral Fund 1,194,986 28&516 14016581 91.998 I,170￿2 Tot•1 Genernl Funds as at 30th June 2024 Trnn5ferred on merger Total as at 3 1st December 2024 1.194.986 28A516 1402,6581 91,998 1,17Q842 11,1711842) overall Total Funds ￿ at 30th June 2024 Transferr4d on mer¥er Total a$ at 3 1st D8combèr 1024 1,56?.933 1.325.n5 11,473.8391 1421,819 421,8191 Bylance Prlor Ye¥r 1.1.2023 Incorne enditure Transfers 31.122023 Total Re5tiiCted Funds 1,036.208 1,987,607 812 (1.695.9gUI {68.6431 In&6611 (1563.2941 (162,0071 33,716 1.165.818 Totat De$lgnated Fund¥ Total G¥nrrnl Furds 243,234 1,204.595 2.484.037 209.129 1.194.986 66Qnl 128.2BI Ov•Yall Total Funds 1649.190 2.569.933 22123 NOTES TO THE ACCOUkm {contIn￿￿) for thè y•ar onded- 3 1st D¢￿mber 2024 W0￿￿mInis1ryOT PkthEERS Rtstrirted Funds The ¢hirlty malntalns a number of re5trtttod fijnds vA)kh ¥e all Inc¢m• funds and are day￿Ed ￿ foll¢ws.' Proiacts These are Charttab￿ acri¥iues ol the rni55ion over and the resFwsibllrtles of individual workers. DonauDn5 are received for these purposes and held in these lund5. MDrt ol the furth [￿d￿dIng all th• lary¢r fvndsl are patd out in full each month to the rnana8ers of those funds and accountrd for elsewhere. Swjport These fijnds are u$Bd for the accomrnQda￿tsn and gerwal bving expe￿$ ofworkers both in the UK and abroid. lThtluded w?thtn these fijnds 3re amounts tL) enable the workers to tttabltsh themsths ITr their plac8 ofmln15try and w cover the c05r5 Qf perfornwng the4r fflini5¢ry. D￿l8￿*t*d Funds Thè Degignated funds are amounts s*t asldè from g¢nernl funds to Juppgrt spe¢lfi¢ UK min15try prDjerts. and to fiJnd m•di¢al expenses ¢verseès. Unspent reseryes from fundi designKed h 2021 tg asslst with the r¢¢ruitmenr and training of workers in or lor the Ardb wor reFTwn d¢sigTrated k*r future tralning purposes. 16 Transortlons wlth Trustees Durkng the year charity paid the follovlng amourts of rernunerydth to tyyjrtees and dire¢tJrs ofthe comp7ny. Such remuneration i5 permitled under the Metnorandum and Articles of AssocTratlon alloyrt lor not more than ofte third of the rrusteÈs to be remunerated The salary and PEn5KJn contribuuDn5 were vid by virtue of ther duties as enwloyeu ( at different period51 of the ¢haritsble company and not ￿ re5pea of their dutie5 a5 tru5tee$. Expense5 incurred on behalf of the Board of Trustees are disclosed in no￿ 6. There were rKs transactions wirh the trustee5 whlch require separate dtsclo5ur* ￿￿thIn the ffinan¢i•l s>tements. 2024 2023 Mr P Elam Ss*. Inc Ernp Nl Pe￿iOn 24,396 54.260 &198 Total 27,495 60.458 Commitments Ourlng 2024. the Charity paid £1766 und¥ operating t•aseJ of equlprnenL A5 at 31 December 2024, the Charly was committed to futyJr¢ non