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2022-12-31-accounts

SAT-7 UK TRUST LIMITED SAT-7 UK Trust Limited IA Company Limited by Guaranteel Company Registration No 03301736 Registered Charity no 1060612 Report of the Trustees and Accounts For the Year Ended 31st December 2022

SAT-7 UK TRUST LIMITED Contents Page Reference and administrative details Directors l Trustees Report 4-16 Independent Auditors Report to the Members of SAT-7 U K Trust Limited 17-20 Statement of Financial Activities 21 Balance Sheet 22 Statement of Cash Flows 23 Notes to Finantial Statements 24-37

SAT-7 UK TRUST LIMITED Reference and adminlstratlve detalls of the charity, its Trustees and Advlsers forthe year ended 31st December 2022 Com an Infomiation ReEistered name SAT-7 UK Trust Limited, also known as 'SAT-7 UK, Registered charity number ICE0612 Registered company number 03301736 Registered office nd 2 Floor, 3-4 New Road, Chippenham Wiltshire SN15 IEJ Operations centre 2. Floor, 3-4 New Road, Chippenham Wiltshire SN15 IEJ Company Secretary Mrs R Fadipe Chief Exetutive Owiter Mrs R Fadipe Trustees The trustees (who are directors for the purpose of company lawl who served during the year were a5 follows: Mr R Kemp (Chairman until 20th April), Mr J Clark, Mr C Miles, Mr M Haines, Mr R Giles Ichairman from 20, April), Mr O Morris (left board & July), Mr D Taylor, Mr T Alqassis (joined boanl 23rd Febl Advisers to the Charity Keelys Solicitors IHR Advisor) 28 Dam St, Lichfield WS13 6AA Auditor Burton Sweet Limited Chartered Accountants, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton Bristol BS48 IU R Bankers Unity Trust Bank plc, Nine Brindley Place, Birmingham, Bl 2HB Solicitors Bates Wells Braithwaite, 10 Queen Street Place, London EC4R IBE

SAT-7 UK TRUST LIMITED The trustees, who are also the Directors and members of SAT-7 UK Trust Limited for the purposes of the Companies Act, have pleasure in presenting the Report and Accounts for the year ended 31st December 2022. The trustees have adopted the provisions of the Statement of Recommended Practi￿ (FR102 SORPI Accounting and Reporting by Charities, in preparing the Annual Report and financial statements for the charity. l. Governlng Document SAT-7 UK Trust Limited is a charf(able company limited by guarantee, incorporated on 14th January 1997 and registered as a charity on Ilth February 1997. The company was established under a Memorandum of Association which established the objects of the charitable company and isgovemed under its Articles of Association. These were amended by special resolution on 21st October 2(X)9, 19th October 2Th)5, 24th March 2014 and 14th February 2019. In the event of the company being wound up members are required to contribute an amount not exceedingone-pound sterling. In 2016 a special resolution was passed to change the name of the charity f rom SAT-7 Trust Ltd to SAT-7 UK Trust Ltd. The Objects of the Charlty are- the advancement of the Christian faith,. the advancement of education,. the advancement of good physical and mental health,. the prevention and relief of poverty,. the promotion of equality- the promotion of f reedom of religion las setout in Articles 18 of the Universal Declaration of Human Rights and subsequent United Nations convention and declarations) throughout the world by all or any of the following means.. al relieving need among the virtims of human rights abuse; bl educating the public about human rights,. cl raising awarene55 of human right5 issues- and the advancement of conflict resolution and reconciliation,. as an expression of the Christian faith, in particular Ibutwithout limitation) through the produrth)n, broadcasting and dissemination of television, film, and other digital media content. 2. The Board and Management of the Charity The trustees, (who are alsothe directors and members of SAT-7 U K Trust Limited) in consuttation with the Chief Executive Officer ICEOI,set the strategicdirection of the charity, agreeingf inancial plans arKI assessing the risk implications. The key management personnel of the charity are the board of Trustees, and the CEO, the Senior Director and the Operations Director. The Board of Trustees agree the annual salary levels of the Chief Executive. The trustees have delegated overall management of the charity to the CEO. The CEO has in turn recruited a staff team who have specrfic responsibility for implementing strategy. Meetings of the trustees are held quarterty and are used to review progress, set objectives, establith policies, as well as other issues of relevance. Communication between meetings is extensive throu email, telephone and the meeting of sub-committee members. In 2022 the trustees held the meeting in person, supplemented by video conferencing when needed and met together in Ottober 2022 for 3 two-day retreat meeting. The Board has f rom time to time set up sub-committees to assist it in governance. Currently it has a Finance and General Purposescommitteeto monitorthe financial affairs of the Trust, art asthe audit committee and to review and advise the trustees and seniorstaff on all employment matters affectrig

SAT-7 UK TRUST LIMITED SAT-7 UK. Following the Board retreat in October2022, 3 Governance Committee is also being set up to oversee and make recommendations on board governance including succession planning (Boanl, CEO). The board of SAT-7 UK has agreed a joint ministry agreementwith SAT-71 nternational. In 2022 SAT-7 UK was formally represented on the International Council of SAT-7 International Trust, (registered n Cyprus under the international trust law of the Republic of Cyprus) and the outgoing chair, Mr Rcv Kemp remained an elected member of the Executive Board to the International Council of SAT-7 International Trust. SAT-7 UK made grants of £1,401,297 to SAT-7 International Trust during 2022. 3. The recrultment of Trustees It is the policy of SAT-7 UK to maintain a Board of Trustees thatwill be able to promote the interests of SAT-7 UK in Great Britain and Ireland effectively, to make it a commonly known, clearly understocAY, and widely supported as an inter-denominational Christian charity. Trustees are selected to utilise their specific skills and experience. The skills of potential trustees are therefore taken into consideration before appointment to ensure that a diversity of skills lincluding f inance, marketing and fundraisingl, experience and Christian traditions are represented on the board. Trustees are recruited by a variety of means which may include personal recommendations, advertising, tl Charity's website and through the Christian media. Prospective candidates are interviewed by the existing trustees and the CEO and are selected by nomination and a vote by the board. All trustees must be f ully supportive of SAT-7's ethos and statement of faith. Each Trustee serves fora term of three years and then are subjectto re-election. There is no limit set to the number of terms a trustee can stand for. During 2022 one trustee stood down and one new trustee was recruited. 4. Induction and training of Trustees The processes of induttion and training are intended to ensure that individual trustees are enabled to bring as much added value to the work of the board as their personal background, experience and skills equip them to do. New trustees are provided with information about the charitable company together with copies of the Charity Commission's booklet for new trustees. Seminars and training courses relevant to specific aspects of the Trust's work are broughtto the attention of trustees. New trustees are encouraged to visit the office of the charity at an early stage and meet with the staff. Annual board retreats are organised which include an opportunityto meet with key staff and reCe￿e training if required. A trustee skills matrix and meeting log are regu larly reviewed to ensure the trustees are effective in their roles. All board members are expetted to keep up to date in their own professional disciplines where this is appropriate. Board members are also encouraged totake at least one overseas trip to see the work of SAT-7 International. 5. Risk Management and Assessment SAT-7 UK maintains a risk register produced in accordance with the Charity Commission's guidelines. Risks are monitored at each board meetingwith an annual formal review of the full risk register. The register monitors likely risk and designates responsibility foreach risk area. The trustees are satisf led that the register manages the key risks to the operations of SAT-7 UK. The top risks identified in the risk register include increased secularisation and opp051tion to religion along with declining church attendance, supporterattrition, instability in the Middle East, the impart of the cost of living crisi5 and war in Ukraine. Each of these has action to mitigate, reduce or avoid. The actions are built into the strategic plan and the financial and operationalgoverna nce of the charty with regular and appropriate monitoring in place.

SAT-7 UK TRUST LIMITED The trustees are aware that, apart f rom meeting SAT-7 UK'S own operating costs, they are choosng to deploy the funds at their disposal in a region of the world chararterised by social, economic and political instability. They accept that these factors bring to the work of SAT-7 UK an inescapab elementof risk of loss of resources which is managed through active relationships with those invO￿d in the field and through close monitoring of f unds and resourcesmade available to SAT-71 nternationa and other Partners involved in the work. The risk assessment is regularly reviewed. The Council of SAT-7 International makes everyeffortto reduce these risksthrough tts strict ethos and programming policy which ensures that broadcasts are culturally relevant, do not speak against other religions, do not make political statements and make every effort not to cause offence to other religious groups. SAT-7 International understands the risks very well and do all they can to guard against them or at least mitigate their consequencesthrough the programmes and broadcasts made. 6. Fundralsln& Data Protectlon, Safeguarding & Grant Maklng Pollcles Fundralsln£ In accordance with the Charities IProtertion and Social Investment) Act 2016, the following statement outlines the fundraising practice of SAT-7 UK in 2022. SAT-7 UK is registered with the Fundraising Regulatorand adheres strictlytotheircode of Fundra ising Practice. In 2022 there were no failures to comply with this Code of Practice. In addition, as outlined in the privacy notice SAT-7 UK does notsell or swap data with other charities or organisations outSKie the SAT-7 farn1￿ or make any cold telephone calls to the general public. In 2022 SAT-7 UK did not contract the services of any professionalf undraisers as defined by sertion 58of the Charities Act 1992. SAT-7 U K is registered with the Fundraising Preference Service l FPS) and during 2022 did not recewe any requests through this service. During 2022, no formal complaints about our fundraising practices were received. At all times in SAT-7 U K's fundraisin8 seeks.. To raise money only when the likew income will be matched by needs. To represent the context, need5 and opportunities of the Middle Eastern & North African Church faithfully and accurately, based on credible research and true case-studies, within the security constraints placed upon ourcommunications due to the sensitive nature of ourwork To always be mindf ul that some of our supporters may be vulnerable people and where vulnerable people orthose acting on their behalf request to cease communication5, to act on their wishes. To communicate clearly about how our 5UPPOrters' money will be used. To ensure that all GiftAid conditions are met before claimingGiftAid in respectof a donation. SAT-7 U K does not engage in persistentor intrusive fundraising practices wtth any of our 5UPPOrter5, including vulnerable people. Data protertion SAT-7 UK recognises that personal data of our supporters is valuable and seeks to embody best practi￿ in the way supporters, data is gathered, stored and used, SAT-7 UK therefore: adheres to current data protection legislation and be registered with the Informati Commissionerfs Office. protects the confidentiality of personal information and ensure its security at all times. Does not to pass on supporters, details to any othercharity or organisation outside the SAT-7 family. Nor to purchase prospect supporters, data f rom third parties.

SAT-7 UK TRUST LIMITED Monitoring of Regulatory Activity The Operations Director is responsible for data protettion and for keeping upto date with The Code of Fundraising Practice to ensure that all response devices and data capture forms comply with the data protettion guidelines. Safeguarding Although SAT-7 U K does not work directly with children or vulnerable adults, SAT-7 UK is committed to good practice in dealing with any safeguarding issues. There may be occasions when children or vulnerable adults are present during a SAT-7 U K event or presentation. In such a contextthe SAT-7 UK staff member or volunteer will follow the saf eguarding policy of the host organisation. SAT-7 UK updated its safeguarding policies in 2019 and continuesto monitor its practices and training in thisarea. Additionally, SAT-7 U K annually reviews the safeguarding policies of SAT-7 International Trust. Grant Making Policy SAT-7 UK makesgrants primarily to those partnerorganisations it has a joint ministry agreement wth and does not normally accept unsolicited grant applications. Since 2017 SAT-7 UK has had a joint ministry agreement with SAT-7 International Trust, (registered in Cyprus underthe international trust law of the Republic of Cyprusl. The SAT-7 UK Board of Trustees has delegated the day-to-day management of the grant making pro￿5$ to the Finance and General Purposes Committee IFGPI who report ateach board meeting on grants Made since the last meeting. The grant making process include5 policies on gift acceptano, anti-money laundering, the management of general funds and payment to overseas bodies. 7. Public Benefit The trustees have referred to the guidance in the Charity Commission's general guidance on Public Benef it when reviewing the aims and objectives and in planning artivities. In particular, the trustees consider how planned activities will contribute to the aim5 and objective5they have set. All activities reflect the trustees, desire to follow the aims of the Trust and to meet the requirements of genera public benef it. The ministry benefits all those wishing to explore the Christian message both in the U K and further afield presented through personal conversation and media communications in a way that is both relevant and appropriate. Sharing the core foundations and message of the Gospel is made freelywithout obligation or cost via satellite systems, social media, the internet, mobile devices, working through partner organisations and through personal conversations and is freely available to all who wantto connect and participate. It is made available without any sense of judgementabout viewers, personal circumstances. The aim of all activities is to inform and to engage the viewer about the Christian faith as per the trust's objective to advance the Christian faith. 8. Purpose of SAT-7 UK The vision of SAT-7 U K is to see a growing Church in the Middle East and North Af rica I'MENA I, conf ident in Christian faith and witness, serving the communityand contribLJting to the good of sO￿ty and culture. SAT-7 U K through its partnership with SAT-7 International, is bringing lrfechangingjoy to the people of the Middle East and North Africa through powerful, faith-filled television and digital media programmes, supported in the UK through prayer,giving and inf luencing to bring about change. Through highlighting the needs of the MENA churches SAT-7 UK seeks to encourage oursupporters n the U nited Kingdom to pray regularly, to engage actively and to provide funding and resouros

SAT-7 UK TRUST LIMITED towards the work of this vital ministry - helping to support the production and broadcasting of the Christian message into the homes and hearts of the millions of people watching the satellite programmes and engaging with the content on a range of digital media applications. Through its joint ministry agreement with SAT-7 International Trust, SAT-7 UK is part of the wider internationalfamily of SAT-7 supportingthe churches and Christians of the M ENA region. It is through SAT-7 InternationalTrust thatthe programmes of theSAT-7channe15 are made and transmitted across the Middle East and North Africa. SAT-7 provides supportfor Christians in areas where the Church is subjectto persecution and in places where there is no established church. Television programmes are made by Christian media professionals from the Middle East for the Christians and people of the Middle East. The programmes provide an authentic Christian voice, a f resh perspertive for those asking questions about the Christian faith and show how communities can both be Christian ond Middle Eastern. 9. Main charitable activities SAT-7 UK'S charitable artwities in the UK and Ireland are.. Making grants for the broadcastlng of satellite TV and dlgltal medla programmes, to see a growing Church in the MENA, conf ident in Christian faith and witness, servingthe communty and contributing to the good of society and culture. b. Engaging with Christian communities in the UK to enable a deepened understanding of the challenges faced by Christians and the people of the MENA region, the impact of SAT-7, and the opportunities to pray, engage and partner for change. 10. Looking ahead, Current and Future Strategy In 2020 SAT-7 U K established a three-step plan to govern its response to the pandemic: Response 2020- our approach during this time was to test, ref ine and improve. Recovery 2021-2022 - SAT-7 U K'$ 5-year strategiccycle was due to f inish at the end of 2021. but through a new interim 2-yearstrategy developed in 2020, this was extended tothe end of 2022. Reconstrurtion 2023-2027 The board approved the outline strategic plan for the pericKI 2023-2027 in October2021, during 2022 the foundations were laid for this new strategy and which received final approved from the board in October 2022. Strategic goals for 202>2027 Through the development of a theory of change, a series of activities and outcomes were identif led that will help deliver the mission and vision of SAT-7 U K during this next phase, the five outcomes that the strategy is built around are- A. Income & Engagement Outcome #l.. An increasingnumberof Christians, churches, grant making bodies, communities and networks are artively engaged and giving regularfy to sustain the work of SAT-7. We will connert with Christians across the country, deepening our reach, engagement, and impact in local churches, community groups, and at events and conferences, generating new supporters, ambassadors, and church partners. This will be supported through the phased outworking of a new regional engagement plan, maintaining our commitment to meet Christians where they are. Increased staff capacity and activity budget will help us to pilot and launch new digital content, platforms, fundraising and marketing opportunities- enabling SAT-7 to engage more creatively with supporters and for our brand and message to gain a more distinctive edge within the U K Christian media and mission sector. We will optimise our use and understanding of the project management processes

SAT-7 UK TRUST LIMITED and IT systems used to manage and deliver our activities, regularly reviewing costs and streamlining operations. Outcome #2.. An increasing numberof Christians, churchesfft grant making bodies, communities and networks: have a deepened understandingof the thallenges faced by Christians and the people of the MENA region and the impact SAT-7 has. creatingopportunities to pray. engage and partnerfor change. SAT-7 U K will maintain its commitment to inform and educate supporters, churches, key leaders and influencers Wlth the context, news and challenges facing Christians and the people of the Middle East and North Africa region. A key part of this outcome is to enable the mobilising of prayer and deepened engagement,. enabled through a variety of regular and seasonal resources, publications, and campaigns. However, there will be a stronger emphasis on repurposing existing communications content, phasing in a Read, Listen, and Watch content strategy across new digital and website platforms e.g. videos, podcasts, and webinars - ensuring that our content is accessible for all and is fit for purpose across the strategic plan period. B. Endurance & Falth Outcome #3.. The wlder SAT-7family are strengthened through a healthy relatlonshlp wlth SAT-7 UK and by strategic input and collaboration. We will actively prioritise relationships with peers within the wider SAT-7 family seeking to stay connected, build relationships, share learning and support collaboration. Outcome #4.. A sustainable orEanis3tion, with a culture of best practice and innovation, where 5tsff know they are supported and valued. Priority will be given to develop team spirit and staff well-being, ensuring everyone (regardless of working location or patterns) feels an integral part of the UK team and is rewarded appropriately. Focus will be given to ensure that the right tools, systems and training are in place, with a culture that encourages best practice. Outcome #5.. Ourchristian faith and values are atthe heartof who we are and whatwe do; bringingjoyi showing love, strengtheningfaith. Our Christian faith and values will be at the heart of our organisation culture, they will shape how we make God's love visible and deliverthe next season of SAT-7 UK'S vision, as we seekto bringjoy, show love and strengthen faith- notjust of our viewers across the MENA, but also in the lives of our staff, volunteers, supporters and partners in the UK. New value statements were launched in 2022 and these will be embedded into the organisational culture and with God's help the team will be intentional in outworking the values in their work and relationships with each other. We agree to be authentic We choose to be courageous We strive to be creative We committo be servant-hearted

SAT-7 UK TRUST LIMITED 11. Revlew ofthe year- workin the MENA SAT-7 Intemational Overvlew SAT-7 broadcasts faith-filled programmes to the 25 countries of the Middle East and North Af rica IM ENAI via satellite television and digital media. Our programmes are designed to encourage and strengthen often-isolated Christians in their faith and provide 3 f resh perspective of faith for those asking questions aboutjesus. They reach millions of viewers across a range of platforms. Viewers are supported, encouraged and counselled by dedicated Audience Relations IARI teams who respond to the hundreds of viewers who contact the channels every day through a variety of mean5. Satellite television remains at the core of SAT-7's ministry, but in this digital age, and as the MENA increasingly moves online, SAT-7 is keeping up with the developing needs of itsviewers. Accordingto the 2020 Arab Youth Survey, 660A of young people in the Arab World now primarily watch video content on their smartphones. SAT-7 PLUS, the MENA'S first Christian video-on-demand and live- streaming platform, was launched in 2021 and has continued to grow during 2022. The total viewership more than doubled, and notably, the average watch time is now more than 25 minutes, an increase of 34% on the previous year. Social media continued to play a vital role in viewer engagement in 2022. SAT-7 ARABIC'S Facebook strategy has been especially effective with audience engagement more than doubling in 2022 compared to 2021. Two series specifically produced for social media, Church4Kids and Sanctuary of the Heart, worked exceptionally well on Instagram throughout 2022. Facebook was blocked in Iran because of the protests following the death of Mahsa Amini, but Instagram is helping provide online Sunday school for Iranian thildren through Church4Kids and creating 3 space for viewers to receive live prayer and encouragement through Sanrtuary of the Heart. The MENA region faced multiple crises in 2022. The following overview of the year shows how SAT-7 has been responsive to a range of sltuation5 in different places, bringing a message of h as well as support and guidance for viewers facing myriad problems. In January, SAT-7 began airing the f irst episodes of The Gathering Ipicturedl, made by our newly-formed partner production team in Tunisia. The programme is designed to provide spiritual encouragementto isolated believe in North Af rica by sharing testimonies, worship music and Christian teaching. As the economic crisis deepened in Turkiye in February, SAT-7 TU RK'S live programme Homemode raised awareness of the impart on families and directed viewers to advice and resources that can helpthem. SAT-7's f irst ministry-wide meetingof Partners, Christian ministries, broadcasters, and supporters in three years took place in Cyprus in March. Under the theme Responding to Crisis, Building the Future, participants heard how SAT-7 has been responding to COVID-19 and other challenging events across the region since 2020, and about the opportunities it has to start building for the coming years. As many Middle Easterners continue to risk their lives trying to flee their home country, SAT-7 ARABIC'S YouAre NotAlone programme covered a tragic "Boat of Death" incident in April. The show

SAT-7 UK TRUST LIMITED featured a moving interview with Yous5ef and Mohammad Al Jamal who lost their family when a boat carrying people from Lebanon and Syria sank off Tripoli in Lebanon. The episode highlig hted how the collapse of the economy and medical system in Lebanon is forcing people to take drastic action to try to provide a better life for their families. In May, SAT-7's Founder and President Dr Terence Ascott was presented with a Labib Madanat Kingdom Impact Award by SAT-7 partner, the Strategic Resource Group. The award honours "men and women whose self-sacrif icing and courageous endeavours have conferred eternal benefit on thousands and thousands of people in the Greater Middle East, helping the m on their journey to faith in Jesus Christ" This was followed in June with a "Special Mention" for SAT-7 KIDS at the 2022 Prix Jeunesse International Festival in Germany. The channel's Story in the Attic programme (pictured above) was commended for tackling the important topic of early marriage. The show teaches children to understand theirvalue and basic rights and encourages viewers to promote these rights in their own contexts. AnotherSAT-7 KIDS programrne, City ofStar5, which promote5 disability inclusion, was also featured in the festival's catalogue of "Quality in Children's TV Worldwide" A year on f rom Turkiye'5 Wlthdrawal from the Istanbul Convention, which combats violence against women, SAT-7TURK programme YouAre NotAlone reachedoutto vulnerablewomen inthe country in July. The show provided expert advice to viewers enduring diff icult home lives. One episode was watched by 36,(KK) people on Facebook, in addition to its audience on satellite television. One viewersaid, "As a Christian woman in our society, sometimes one feels stuck. SAT-7 TU RK helps me overcome the feeling of being alone. At a time when millions of children are out of school owing to poverty, inadequate education systems, widespread displacement, and the continuing impact of COVID-19, SAT-7 launched a fifth series of the popular primary education series My School in August. The series took an innovative modular approach, breakingdown the teaching into 250 10-minute segments accompanied by video clips to help young people who have missed school - some for as long as 15 years- to catch up.

SAT-7 UK TRUST LIMITED In September, protests erupted in Iran following the death of Mahsa Amini in police custody, and continued for the rest of the year despite a violent re sponse from the authorities that claimed hundreds of lives. SAT-7's Persian channel, SAT-7 PARS, supported viewers through special live programmes, prayer, encouragement, and guidance. Ayman, an Iranian man, told SAT-7 PARS, viewersupportteam, "I know howthe rights of this nation have been violated,. I know how we were taken hostage, and how the women of Iran, half of the nation, have been subjected to oppression, injustice and prejudice... There is so muth pain and suffering, butthe Lord is with the oppre ssed and comes to their aid. IJ SAT-7 launched live programme Today Not Tomorrow in October as part of tts five-year Gender Equality and Freedom of Religion or Belief IFORBI project. An innovative feature is a new mobile set Ipictured above) that travels to a drfferentvillage for each episode to engage with residents and get close to viewers on the ground. As Christians in Afghanistan continue to endure oppression and fear under the Taliban, SAT-7 launched a new live weekly programme Church4Afghonistan, broadcast on Instagram and Facebook. Presenter Noorullah Noor, an Afghan asslstant pastor living in Germany, explores biblical topics with different guests and also discusses the current situation in Afghanistan, especially for the Christians living in the tountry. On 10 DecemberSAT-7's dedicated Arabic-language children's channel telebrated 15years on air. To mark this major milestone, it launched a year-long promotional campaign called 'Tomorrow is Yours" to encourage children in the MENA to create a future for themselves by drawing on the wisdom and power that God supplies.

SAT-7 UK TRUST LIMITED 12. Revlew ofthe year- workin the UK Supporter Messaging & Events: Our messaging in the first half of the year built on the previous year's Advent theme, "Watch and Wait" to a linked focus during Lent of, 'Watch and Pray.. A 40-day prayer watch for SAT-7's viewers." The prayer guide included weekly small group material, with discussion questions based on the week's theme and a story from the life of Jesus, as well as a guide for supporters to host their own Live Prayer Watch event. To mark the start of Lent, we held a special News and Prayer Live 'Prayer Watch, lunchtime and evening event, with over 2(K) attending. In the second half of the year, we launched our"Free to Believe" advocacy campaign, which formed part of SAT-7's formal response to the U K government ministerial on the Freedom of Religion or Belief IFORBI. Launched at the New Wine United conference Iwhere over 250 people added their voicel, it was then profiled at other summer events in Northern Ireland, as well as online and to supporters. Archbishop Angaelos, SAT-7's International board thair, was interviewed as part of the campaign. And Fiona Bruce M P sent a message of thanks.. On behalf of the UK government I want to thank SAT-7 supporters for adding their voice to the Free to Believe campaign, followingthe Ministerial earlier this year. We all need to take action to raise the issues of people's freedoms,. espetially the f reedom to believe and to worship. Please do continue to support SAT-7, as they seek to share powerful testimonies of faith right across the Middle East and North Africa., Fiona Bruce M P and the Prime Ministerfs Special Envoy for Freedom of Religion or Belief Towards the end of the year the focus on FORB continued within the Advent theme, Silent Night, highlighting how Christians are silenced in different ways in different parts of the MENA region. The campaign included a special Advent News & Prayer Live event with a focus on Iran and 7,(KK) copies of the Silent Night prayer guide plus church packs were sent to supporters. Silent N ight Advent resources, including country fact-file sheets, music and poetry challenges, were also created for schools in a trial, endorsed by TV presenter, Gemma Hunt. The campaign culminated in a recording of the Silent Night Christmas carol, recorded a nd filmed at various SAT-7 studios in the different locations and languages of the Middle East and North Africa region, as well as involving churches and schools. Over 25 groups took part, singing in a variety of languages includin8 Arabic, Turkish, Farsi, French and English. Digital Media: We've continued to reach a younger demographic through our digital acqui51tion strategy. Website visitors, new users, website sessions and page views have all increased in Q4 compared to 2022. Our social media following is steadily growing on most platforms with Instagram at nearly 705 followers and Twitterat 2,974. YouTube grew to 9,560 subscribers. Ouremail marketing continuesto perform strongly with an average open rate greater than 40%. Through regular emails, we continue to share news- promote events- campaigns and appeals. The total number of unique emails sent in 2022 was 130, including everythingf rom prayerdiary, Briefing, events, to campaign a appeals. Church Engagement: We continued our approach of meeting Christians "where they are" and connerted with supporters and churches through a range of well-attended and engaging digital events, backed up by a stream of high-quality print and digital communications, creative prese ntatv)n and video resources, and fundraisingappeals. Although there was still some wariness atthe beginnrig of the year due to Covid, church speaking engagements have picked up during the year. 40 out of 97 speaking engagements in 2022, were carried out by Ambassadors, with the others facilttated by the staff team. Although more face-to-face speaking engagements took place in 2022 than 2021, they

SAT-7 UK TRUST LIMITED have not returned to pre pandemic number5. 8 new ambassadors were recruited and trained, we currently have 59 Church Ambassadors and 27 Speakers. Promotion of the new church partnership programme began fully in 2022. Responses have been positive, some improverrEnts have been madetothe programme and IS churches have so far bea)me *• partners with others committing to supporting SAT-7 projects. We continued to use videos and personalised email communication to deepen our engagement with our supporting churches. Income generation: Fundraising was challenging in 2022, with the rising cost of living and inf lation levels there was uncertainty about the f uture, this led to slower giving during the year. But we were greatly encouraged in the final quarter and ended the yearjust 2% behind our income target. We were also able to make grants of £1.4M to SAT-7 International, achieving our target. We continued to be encouraged by the growth in income from churches, which grew by 8% in 2022. The regular giving programme (joy bringers) grew by 30A, and we continued to acquire new supporters, albeit at a slower rate than the previous year. We held the three online f undraisers in lune 2022 with the goal of obtaining new regular givers lloy bringers), and were greatly encouraged bythe response to these and will build on this programme in 2023. The major donor programme continues to f lourish and a mid-level donor programme was launched. 13. Financial Review The f inancial results forthe yearare set out in the Statement of Financial Activities. In 2022 SAT-7 U K's income was £2,190,446 12021.. £2,339,278), the income was only 2% below the 2022 budget and a decrease of 6.4% from 2021. SAT-7 UK made grants of £1,401,297 (Budget El.4MI to SAT-7 International Trust during 2022. Expendtture on raising funds was £439,55812021= £4CE,0881 while expenditure on charitable activities was £1,804,323 12021.. £1,811,539). Net income and expenditure in 2022 showed a deficit of £53,43512021.' surplus £121,651). ReseNes had been increased during the pandemic, hence the surplu5 was deliberately reduced in 2022 to bring the reserves down. Net assets at 31 December 2022 were £712,41512021= £765,850). Cash at bank and in hand at 31 December 2022 amounted to £496,93112021'. £451,631). Reserves Policy The trustees have established a policy wherebythe unrestricted funds not committed or invested in tangible fixed assets Ithe 'f ree reserves") held by the charity should be suff icient at the end of any calendar month to meet the planned workin8 requirements of the charity for the next two to four months. In 2023 the planned working requirements are budgeted to be on average £68,(KK) per month. The trustees are of the opinion that this level is adequate to ensure that the trust continues at a sustainable level. The trustees do not have any material uncertainties surrounding the charity continuing as a going concern, so the trustees do notconsiderthat it is necessary to reflect within the level of reserves any estimate of the costs of closure. At 31 December 2022 SAT-7 U K Trust I'the charity'l held total reserves of £712,415 comprising: The Expendable Endowment Fund which was established to ref lect the Inon-bindingl wish of a donor that the assets donated to the charity would be used to generate income for the charity over the long run. This fund stands at £310,000 all of which is held in investment properties. The trustees have the power to sell the investment properties and the power to transfer expendable endowment f unds to general f unds. The Designated Funds which were established by the trustees to set aside funds for specift projects planned within 12 - 18 months. At 31 December 2022 the f Ljnd stood at £183,271 12021 £125,750).

SAT-7 UK TRUST LIMITED General Unrestritted Funds stood at £219,144 12021 £330,1(K)I representing tangible f ixed assets held forthe charity's own use of £9,337 and f ree reserves of £209,80712021 £319,944). No Restricted Funds were held by the charity at 310ecember 2022. At 31 December 2022 the Free Reserves stood at £2CY3,807 12021 £319,944). This represented 3.co months of expenditure on planned working requirements in 2022 which is within the range of the charf(y's reserves policy and considered by the trustees to be satisfactory. When carryingout period reviews of the reserves held, the trustees take into account that, given the purpose of the Expendab Endowment and Designated f unds, these funds could be drawn upon in the event of deterioration in the free reserves position. The trustees continue to keep the charity's reserves policy under review to ensure that it maintains the right level forSAT-7 UKTrust and explains to its funders, donors and beneficiaries why it is holding this level of reserves. Funds held as custodian trustee SAT-7 UK acts as a custodian trustee holding cash on behalf of SAT-7 International Trust. SAT-7 International Trust's objerts are consistent with those of SAT-7 UK. SAT-7 U K holds this cash in a separate designated bank account with a trustee approved bank mandate safeguarding the movement of these funds. Refer to note 18 for details of the funds received, payments made, and balances held on behalf of SAT-7 International Trust in the year. Investments Investments relate totwof lats donated in 2015 and 2018. These f lats remain rented out. The flats are held as investment properties within the existing expendable endowmentf und and were reClassif￿d in 2019 as currentassets in the balance sheet as the intention was to sell them. Due to an unsuccessFul sale and the challenging economic situation the decision was made to take the f lats off the markeL hence in Dec-22 the flats were reclassified as fixed assets. ststement of Tmstees, Responsibilities The trustees (who are also directors of SAT-7 U K Trust Limtted for the purposes of company lawl ar responsible for preparing the Trustees, report lincorporating the strategic report and dirertor report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financiol Reporting St(yndun applicable in the UKond Republic of Ireland Iunited Kingdom Accepted Accounting Prarticel. Company law requiresthe trustees to prepare f inancial statements foreach financial year which give a true and fair view of the state of affairs of the charitable company and of the income arKI expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and therb apply them consistently. obseNe 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 the financial statements- and prepare the f inancial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonab accuracy at any time the f inancial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 20CNS. They are also responsible for

SAT-7 UK TRUST LIMITED safeguarding the assets of the charitable company and hence for taking reasonable steps for t prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware- and the trustees have taken all steps that they ought to make themselves aware of that information. Auditor Burton Sweet Limited wa5 re-appointed as the Charity's auditor during the year and has expressed their willingness to continue in that capacity. This report and the f inancial statements have been prepared in accordance with the Companies Art 2￿6 the charitable Company's Memorandum and Articles of Association and the Statement of Recommended Practice "Accounting and Reporting by Charities" l FRS102 SORPI. Registered office.. 2. Floor 3-4 New Road Chippenham Wiltshire SN 15 IEJ If you have questions or would like more detail about the Trust, please contact the Chippenham office, where staff will be happy to respond to your queries. Approved by the trustees on 25 April 2023. Signed on behalf of the trustees Mr Richard Giles Chaimian Mrs Rachel Fadipe Chief Executive Officer

SAT-7 UK TRUST LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAT-7 UK TRUST LIMITED Opinion We have audited the f inancial statements of Sat-7 UKTrust Limited Ithe "Charity") forthe yearended 31 December2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of signif icant accounting policies. The f inancial reporting framework that has been applied in the ir preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom General Accepted Accounting Practice). This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Att 2CX)6. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to state in them in an audttorf5 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 Charity's members as a body, for our audtt work, fof this report, or for the opinions we have formed. In our opinion, the financial statements.. give a true and fair view of the state of the Charity's affairs as at 31 December2022 and of its income and expenditure for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted out audit in accordance with international Standards in Auditing IUKI IISAS l U Kll and applicable law. Our responsibilities under those standards are f urther described in the Auditorfs responsibilities forthe audit of the financial statements section of ourreport. We are independent of the Charity in accordance with the ethical requireme ntsthat are relevantto our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have f ulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the directors, use of the going COn￿M basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identif led any material uncertainties relating to events or conditions that, individually or collectively, may cast signif icant doubt on the charity's ability to continue as a going concern for a period of at least twelve monthsf rom when the f inancial statements are authorised for issue. Our responsibilities and the responsibilities of the direttors with respect to going concern are described in the relevant Sections of this report.

SAT-7 UK TRUST LIMITED Other infomiation The trustees are responsible for the other information. The other information comprises the information included in the annual report otherthan the f inancial statements and out audttorfs reFX)rt thereon. Our opinion on the f inancial statements does not cover the other information and, ex￿pt to the extent otherwise explicttly stated in our report, we do not express any form of assuran conclusion thereon. In connection with our audit of the f inancial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wth the financial statements or ourknowledgeobtained in the audit or otherwise appears to be material misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If based, on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report the fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2(￿6 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report lincorporating the strategic report and the directors, reportl for the f inancial year for which the f inancial statements are prepared is consistent with the financial statements,. and the trustees. report l incorporating the strategic report and the direttors, report) have been prepared in accordance with applicable law requirements. Matters on which we are required to report byexception We have nothing to report in respect of the following matters in relation to which the Companies Att 2(X)6 requires us to report to you if, in our opinion.. suff icient accounting records have not been kept; the financial statements are not in agreement with the accounting records and returns; certain disclosures of trustees, remuneration specified by law are not made- or we have not obtained all the information and explanations necessaryforthe PLJrposes of our audit. Responsibilitie5 of tru5tee5 As explained more f ully in the trustees, responsibilities statement, thetrustees are responsible forthe preparation of the f inancial statements and for being satisfied that theygive a true and fair view, and for such internal control as they determine is necessary to enable the preparation of f inancial statements that are f ree f rom material mi5Statement, whether due to fraud or error.

SAT-7 UK TRUST LIMITED In preparingthe f inancial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities forthe audit of the financial 5tatementS Our objectives are to obtain reasonable assurance aboutwhetherthe f inancialstatements as a who are free f rom material misstatement, whetherdue to f raud or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thatan audit conducted in accordance with ISAS IUKI will always detect a material misstatementwhen it exists. Misstatements can arise from f raud or errorand are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economicdecisions of userstaken on the basis of these f inancial statements. Our approach to identifying and assessing the risks of material mi5Statement in respett of irregularities, including fraud and non-compliance with law5 and regulations, wa5 as follows: the engagement partnerensured thatthe engagementteam collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations- we identif led the laws and regulations applicable to the charity through discussions with directors and other management, and from our knowledge and experience of the sector; we focused on specif ic laws and regulations which we conside red may have a direct material effect on the financial statements of the operations of the company, includingthe CompanEs Att 2QK)6, taxation legislation and data protertion, anti-bribery, employment, environmentsl and health and safety legislation; we assessed the extent of compliance with the laws and regulations identrfied above throu making enquiries of management and inspecting legal correspondence; and identif led laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance through the audit. We as5es5ed the susceptibility of the charity's financial statements to material mi5Statement including obtaining an understanding of how fraud might occur, by= making enquiries of management as to where they considered there was susceptibility to f raud, their knowledge of actual, suspected and alleged f raud; considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and understanding the design of the charity's remuneration policies. To address the risk of f raud throuEh management bias and override of controls, we.. performed analytical procedures to identify any unusual or unexpected relationships,. tested journal entries to identrfy unusual transattions; assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias,. and investigated the rationale behind significant or unusual transactions.

SAT-7 UK TRUST LIMITED In response to the risk of irregularities and non-compliance wtth laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial statement disclosures to underlying 5UPPOrting documentation; reading the minutes of meetings of those charged with governance- enquiring of management as to actual and potential litlEation and claims,. and reviewing correspondencewith HMRC, relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transattions, the less likely it is that we would become aware of non-compliance. Auditing Standards also limit the audit procedures required to identify non- compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if anv. Material misstatements that arise due to f raud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibiltties for the audit of the f inancial statements is located on the Financial Reporting Council's website at www.frc.or sco rivate.cfm This description forms part of our auditorfs report. Joshua Kingston ACA (Senior Statutory Auditor) For and on behalf of Burton Sweet Limited Statutory Audttor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 IU R Date.. 25 April 2023.

SAT-7 UK Trust Limited

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2022

Unrestricted
General
Funds
£
Income and endowments from:
2
1,563,107
20,340
2,871
6,836
1,593,154
3
433,863
3
1,168,148
1,602,011
Net income/(expenditure)
5
(8,857)
Transfers between funds
15
(102,099)
Net movement in funds
(110,956)
15
330,100
15
219,144
Note
Total expenditure
Investments
Other trading activities
Raising funds
Charitable activities
Total income
Expenditure on:
Donations and legacies
Other income
Funds brought
forward at 1 January
Funds carried forward at
31 December		 Unrestricted
Designated
Funds
£
-
-
-
-
-
5,695
38,883
44,578
(44,578)
102,099
57,521
125,750
183,271		 Restricted
Funds
£
597,292
-
-
-
597,292
-
597,292
597,292
-
-
-
-
-		 Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-
310,000
310,000		 Total Funds
2022
£
2,160,399
20,340
2,871
6,836
2,190,446
439,558
1,804,323
2,243,881
(53,435)
-
(53,435)
765,850
712,415		 Total Funds
2021
£
2,316,107
15,995
2,455
4,721
2,339,278
406,088
1,811,539
2,217,627
121,651
-
121,651
644,199
765,850

Net expenditure for Companies Act purposes is £53,435.

The charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The notes on pages 24 to 37 form part of these financial statements See note 20 for fund-accounting comparative figures

21 Page

SAT-7 UK Trust Limited BALANCE SHEET

----- Start of picture text -----
AS AT 31 DECEMBER 2022 Company Number: 03301736
2022 2021
Note £ £
Fixed Assets
Tangible fixed assets 8 9,337 10,156
Investments 9 310,000 -
Current assets
Investments 9 - 310,000
Stock 2,035 3,839
Debtors 10 50,332 92,413
Cash at bank and in hand 496,931 451,631
549,298 857,883
Creditors : Amounts falling
due within one year 11 (156,220) (102,189)
Net current assets 393,078 755,694
Net assets 712,415 765,850
Endowment funds 16 310,000 310,000
Income funds
Unrestricted funds:
General funds 16 219,144 330,100
Designated funds 16 183,271 125,750
402,415 455,850
Total funds 712,415 765,850
----- End of picture text -----

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006

These financial statements were approved by the trustees on 25 April 2023 and are signed on their behalf by:

Mr Richard Giles Chairman

The notes on pages 24 to 37 form part of these financial statements

22 Page

SAT-7 UK Trust Limited

CASH FLOW STATEMENT

YEAR ENDED 31 DECEMBER 2022

Note
Operational cash flows
Cash flows from operating activities:
Costs of Charitable Activities
13
Net outflow from operating activities
Cash flows for operating activities:
Donations and Legacies
13
Other trading activities
13
Other income
13
Costs of raising funds
13
Net inflow for operating activities
Net inflow/(outflow) of operating activities
Non-operational cash flows
Investing activities
13
Acquisition of tangible fixed assets
8
Net cash inflow/(outflow) for the year
14
Cashflow Restrictions
Investments - investment property
income		 2022
£
(1,744,941)
(1,744,941)
2,202,811
2,871
6,836
(437,754)
1,774,764
29,823
20,340
(4,863)
15,477
45,300		 2021
£
(1,822,445)
(1,822,445)
2,334,301
2,455
4,721
(409,044)
1,932,433
109,988
15,995
(5,597)
10,398
120,386

Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.

The notes on pages 24 to 37 form part of these financial statements

23 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

The charity is a public benefit entity as defined under FRS102.

The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The Trustees assess that the charity has sufficient reserves to be able to meet the challenges of the current economic environment and the charity's liabilities as they fall due.

I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods;

II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Certain expenditure is directly attributable to specific activities and this has been included in those cost categories. Other costs, which are attributable to more than one category, are apportioned across cost categories on the basis of workload surveys carried out from time to time.

Depreciation is calculated so as to write off the cost of an asset, less its estimated ultimate residual value, over the useful life of that asset as follows:

Leasehold improvements - straight line over the length of the lease to the break clause Office equipment - 33% p.a. straight line

Office furniture - 25% p.a. straight line

24 Page

SAT-7 UK Trust Limited NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

1 Accounting policies (continued)

2 Donations and gifts

Current year
Churches
Institutions
Individuals		 Unrestricted
Funds
£
132,366
135,735
1,295,006
1,563,107		 Restricted
Funds
£
43,112
225,057
329,123
597,292		 Endowment
Funds
£
-
-
-
-		 Total
2022
£
175,478
360,792
1,624,129
2,160,399		 Total
2021
£
162,794
421,008
1,732,305
2,316,107

For the comparative figures please see note 21.

As at the year-end the charity had been notified of two legacies, the value of which is uncertain but is unlikely to exceed £7,212 in total. There is one further legacy that the charity has been notified of but this cannot be measured reliably at the approval date of the financial statements.

25 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

3
Expenditure
Current year
Raising funds
Staff costs
Promotional activities
Office costs
Charitable activities
In the UK
Supporting the church in the MENA
region		 Grants
payable
£
-
-
-
-
-
1,401,297
1,401,297
1,401,297		 Direct
costs
£
236,548
102,889
-
339,437
267,394
-
267,394
606,831		 Support
costs
(note 4)
£
24,065
-
76,056
100,121
135,632
-
135,632
235,753		 Total
2022
£
260,613
102,889
76,056
439,558
403,026
1,401,297
1,804,323
2,243,881		 Total
2021
Restated
£
294,558
36,044
75,486
406,088
384,104
1,427,435
1,811,539
2,217,627

For the comparative figures please see note 22.

Please see the following page for the definitions of the charitable activities described above.

SAT-7 UK's charitable activities are detailed in section 9 of the Trustees' Annual Report. They include:

In the UK

Raising awareness about our work, providing information about the region we operate in and encouraging prayer.

Engaging and mobilising Church in the UK and Ireland.

Preparing the next generation of supporters.

Supporting the church in the MENA region

Making grants to encourage the development of a growing Church and to make the Gospel available to everyone in the Middle East and North Africa.

Grants were paid to SAT-7 International Trust of £1,401,297 (2021: £1,427,435).

Grants to SAT-7 International Trust consist of restricted grants for specific projects and unrestricted grants to be used by SAT-7 International Trust in fulfilling their charitable activities.

26 Page

SAT-7 UK Trust Limited NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

4 Support costs

Current year
Staff costs and staff related costs
Premises expenses
Admin expenses
Depreciation
Governance costs		 Raising
funds
£
24,065
21,668
51,661
2,727
-
100,121		 Charitable
activities
£
5,267
14,965
96,871
2,955
15,574
135,632		 Total
2022
£
29,332
36,633
148,532
5,682
15,574
235,753		 Total
2021
Restated
£
7,825
25,024
150,054
6,045
13,513
202,461

For the comparative figures please see note 23.

5 Net (expenditure)/income for the year

This is stated after charging:
Depreciation
Auditor's fees:
For audit services
For accountancy services
For other services
Payments of Trustees' travel expenses		 2022
£
5,682
7,000
2,500
2,004
1,122		 2021
£
6,045
6,660
2,340
3,690
706

Trustees reimbursed for their out of pocket travel expenses: 2022: 4 (2021: 3). No Trustee received any remuneration during the year.

Aggregate donations from Trustees and other related parties in the year were £34,705 (2021: £41,920).

6 Staff costs and numbers

The aggregate payroll costs were:

Wages & salaries
Social security costs
Pension contributions
Benefits
Redundancy costs
Remuneration and benefits received by key management personnel including
employer's national insurance and employer's pension		 2022
£
425,368
33,635
22,513
3,046
-
484,562
180,615		 2021
£
453,675
29,778
23,778
1,827
11,125
520,183
170,162

One employee received emoluments between £60,000 to £70,000.

The average weekly number of employees based on headcount during the year was 17 (2021: 18).

27 Page

SAT-7 UK Trust Limited NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

7 Taxation

The charity is exempt from corporation tax on its charitable activities.

8 Tangible fixed assets

Leasehold
improvements
£
Cost
At 1 January 2022
5,149
Additions
-
At 31 December 2022
5,149
Depreciation
At 1 January 2022
4,565
Depreciation
198
At 31 December 2022
4,763
Net book value
At 31 December 2022
386
At 31 December 2021
584
9
Investments
Investment properties
Market Value at 1 January
Market Value at 31 December
Historical cost at 31 December		 Office
equipment
£
37,973
4,863
42,836
30,200
4,651
34,851
7,985
7,773		 Office
furniture
£
15,348
-
15,348
13,549
833
14,382
966
1,799
2022
£
310,000
310,000
310,000		 Total
£
58,470
4,863
63,333
48,314
5,682
53,996
9,337
10,156
2021
£
310,000
310,000
310,000

The investment properties were classified as current assets in the prior period, as it was the trustees' intention to sell the assets within 12 months. This year the trustees' intentions have changed, reclassifying the assets as fixed asset investments. As the properties have not been sold this financial year, the Trustees obtained a formal valuation at 31 December 2022 from Haart Estate Agents.

10 Debtors

Other debtors
Prepayments and accrued income
Tax reclaimable under Gift Aid		 2022
£
1,413
38,775
10,144
50,332		 2021
£
970
79,637
11,806
92,413

28 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

11 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Other creditors
SAT-7 International Trust		 2022
£
25,450
19,721
625
110,424
156,220		 2021
£
7,971
13,515
2,061
78,642
102,189

12 Commitments under operating leases

At 31 December 2022 the charitable company had total minimum lease payments under non-cancellable operating leases as follows:

Within 1 year
2 to 5 years		 2022
Land &
buildings
£
13,598
16,282		 2021
Land &
buildings
£
14,938
29,880

29 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

13 Reconciliation of the Statement of Financial Activities to the Cash Flow Statement

SOFA
Income from:
Donations and legacies
2,160,399
Movement in donation
debtor
Investments
20,340
Other trading activities
2,871
Other income
6,836
Expenditure on:
Raising funds
(439,558)
Increase in stock
Charitable activities
(1,804,323)
Depreciation eliminated
5,682
Increase to accruals
Balance sheet movements
14 Analysis of changes in cash during the year
Cash at bank and in hand
Cash at bank and in hand
Movement in other debtors,
prepayments and accrued income
Increase in trade and other creditors
Decrease in tax reclaimable under
Gift Aid		 Debtors
adjustment
-
1,662
40,750
-
-
-
-
-
-
-
(331)
-
-
42,081		 Creditors
adjustment
-
-
-
-
-
-
-
-
-
-
-
47,825
6,206
54,031
2022
£
496,931
2021
£
451,631		 Stock
adjustment
-
-
-
-
-
-
-
1,804
-
-
-
-
-
1,804
2021
£
451,631
2020
£
331,245		 Cashflow
2,202,811
20,340
2,871
6,836
(437,754)
(1,744,941)
Change
£
45,300
Change
£
120,386

30 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

**15 ** Movement in funds
Year ended 31 December 2022
Endowment funds
Expendable endowment
Restricted funds
SAT-7 International projects
Cross Channel Projects
Cross Channel: Women's
Programming
SAT-7 ACADEMY
SAT-7 ARABIC
SAT-7 KIDS
SAT-7 PARS
SAT-7 TÜRK
SAT-7 UK Trust projects
SAT-7 UK Development
Unrestricted funds
General funds
Designated funds:
Development in the UK
Investment property
Total funds
Cross Channel: Discipleship
Programming
Cross Channel: Children's
Programming
UK Nationals working for SAT-7
International Trust		 At
1 Jan
2022
£
310,000
310,000
-
-
-
-
-
-
-
-
-
-
-
-
330,100
125,750
-
455,850
765,850		 Income
£
-
-
54,235
43,651
64,262
104,381
11,479
52,683
36,191
166,191
12,624
50,570
1,025
597,292
1,593,154
-
-
1,593,154
2,190,446		 Expenditure
£
-
-
(54,235)
(43,651)
(64,262)
(104,381)
(11,479)
(52,683)
(36,191)
(166,191)
(12,624)
(50,570)
(1,025)
(597,292)
(1,602,011)
(44,578)
-
(1,646,589)
(2,243,881)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(102,099)
92,099
10,000
-
-		 At
31 Dec
2022
£
310,000
310,000
-
-
-
-
-
-
-
-
-
-
-
-
219,144
173,271
10,000
402,415
712,415

The comparative movement in funds figures can be found in note 24.

Endowment funds

Expendable endowment

Property donated to the charity has been included as an expendable endowment and is being used to generate income for the charity. There is no legal requirement to hold the property for this purpose (and therefore, it is not permanently endowed), but the Trustees believe this use is in line with intentions of the donor in the medium term.

31 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

15 Movement in funds (continued)

Restricted funds

----- Start of picture text -----
||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Cross Channel Projects|Fund for the operating costs of SAT-7 and specific projects that cross all channels and| |regions.| |Cross Channel: Children's|Fund for programmes for children across of SAT-7’s channels and language groups.| |Programming| |Cross Channel: Discipleship|Fund for discipleship and bible|teaching programming|across all of SAT-7’s channels and| |Programming|language groups.| |Cross Channel: Education|Fund for education programming across all of SAT-7’s channels and language groups.| |Programming| |Cross Channel: Women's|Fund|for|programming|to|support|vulnerable|and|marginalised|women|across|all|of|SAT-| |Programming|7’s channels and language groups.| |SAT-7 ACADEMY|Fund for the operational costs of SAT-7’s education and development programming| |broadcasting in Arabic on SAT-7 KIDS and SAT-7 ARABIC.| |SAT-7 ARABIC|Fund for the operational costs of SAT-7’s Arabic language channel for young people and| |adults (over 16 years).| |SAT-7 KIDS|Fund for the operational costs of SAT-7’s children channel broadcasting in Arabic.| |SAT-7 PARS|Fund for the operational costs of SAT-7’s Farsi language channel.| |SAT-7 TÜRK|Fund for the operational costs of SAT-7’s Turkish language channel.| |SAT-7 Plus|Fund for the new on-demand streaming service with programs in Arabic, Farsi, and| |Turkish.| |UK Nationals working for|Fund for the costs of UK nationals working for SAT-7 international Trust.| |SAT-7 International Trust| |SAT-7 UK Development|Fund for the operational and developmental cost of SAT-7 UK Trust in GB and Ireland.|

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

Designated fund

----- Start of picture text -----
||| |---|---| |This applies to funds given for general purposes but designated to a particular purpose by a resolution passed by the| |Trustees of SAT-7 UK Trust.| |Development in the UK|Designated funds agreed for the development of SAT-7 in the UK.| |Investment property|The trustees have designated aside funds for potential costs relating to the cladding on| |the investment properties.|

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

32 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

16 Analysis of net assets between funds

As at 31 December 2022
Endowment fund
Expendable endowment
Unrestricted funds
General funds
Designated funds		 Investments
£
310,000
310,000
-
-
310,000		 Tangible
Fixed assets
£
-
-
9,337
-
9,337		 Other
Net assets
£
-
-
209,807
183,271
393,078		 Total
£
310,000
310,000
219,144
183,271
712,415

The comparative figures for the analysis of net assets between funds note can be found in note 25.

17 Company limited by guarantee

The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.

18 Funds held as a custodian for others

At the year end, the charity held £592,753 (2021: £596,382) of cash balances under the control of SAT 7 International Trust. These balances have been excluded from the balance sheet.

In the year funds were received on behalf of SAT-7 International Trust totalling £1,376,160 (2021: £1,375,204). Payments made as a custodian trustee on behalf of SAT-7 International Trust totalled £1,379,789 (2021: £1,231,154).

Further details of the custodian trustee relationships can be found within the trustees' report.

19 Related party transactions

There are no related party transactions other than disclosed elsewhere in these financial statements.

33 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

COMPARATIVE FIGURES

The notes on the following pages contain comparative information and are integral to the financial statements as required by the Statement of Recommended Practice.

20 Statement of Financial Activity comparative figures

Unrestricted
General
Funds
£
Income and endowments from:
Donations and legacies
1,494,356
Investments
15,995
Other trading activities
2,455
Other income
4,721
Total income funds
1,517,527
Expenditure on:
Raising funds
406,088
Charitable activities
943,343
Total expenditure
1,349,431
Net income/(expenditure)
168,096
Transfers between funds
(100,254)
Net movement in funds
67,842
Funds brought forward at
1 January
262,258
Funds carried forward at
31 December
330,100
Donations and gifts comparative figures
Prior year
Churches
Institutions
Individuals		 Unrestricted
Designated
Funds
£
-
-
-
-
-
-
46,445
46,445
(46,445)
100,254
53,809
71,941
125,750
Unrestricted
General
Funds
£
111,148
93,318
1,289,890
1,494,356		 Restricted
Funds
£
821,751
-
-
-
821,751
-
821,751
821,751
-
-
-
-
-
Restricted
Funds
£
51,646
327,690
442,415
821,751		 Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-
310,000
310,000
Endowment
Funds
£
-
-
-
-		 Total Funds
2021
£
2,316,107
15,995
2,455
4,721
2,339,278
406,088
1,811,539
2,217,627
121,651
-
121,651
644,199
765,850
Total
2021
£
162,794
421,008
1,732,305
2,316,107

21 Donations and gifts comparative figures

34 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

22 Expenditure comparative figures

Prior year
Raising funds
Staff costs
Promotional activities
Office costs
Charitable activities
In the UK
Supporting the church in the MENA region		 Grants
payable
£
-
-
-
-
-
1,427,435
1,427,435
1,427,435		 Direct
costs
£
286,733
36,044
-
322,777
264,954
-
264,954
587,731		 Support
costs
(note 23)
£
Restated
7,825
-
75,486
83,311
119,150
-
119,150
202,461		 Total
2021
£
Restated
294,558
36,044
75,486
406,088
384,104
1,427,435
1,811,539
2,217,627

Prior-year restatement: Costs that were within raising funds support costs and allocated to office costs were reallocated to staff costs within the prior-year for more accurate classification. Total expenditure was unaffected by this reallocation.

23 Support costs comparative figures

Prior year
Staff costs and staff related costs
Premises expenses
Admin expenses
Depreciation
Governance costs		 Raising
funds
£
Restated
7,825
13,262
59,020
3,204
-
83,311		 Charitable
activities
£
-
11,762
91,034
2,841
13,513
119,150		 Total
2021
£
Restated
7,825
25,024
150,054
6,045
13,513
202,461

35 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

24 Movement in funds comparative figures

Year ended 31 December 2021
Endowment funds
Expendable endowment
Restricted funds
SAT-7 International projects
Cross Channel Projects
SAT-7 ACADEMY
SAT-7 ARABIC
SAT-7 KIDS
SAT-7 PARS
SAT-7 TÜRK
SAT-7 Plus
SAT-7 UK Trust projects
SAT-7 UK Development
Unrestricted funds
General funds
Designated funds:
Development in the UK
Total funds
Cross Channel: Children's
Programming
UK Nationals working for SAT-7
Internationally
Cross Channel: Discipleship
Programming
Cross Channel: Education
Programming		 At
1 Jan
2021
£
310,000
310,000
-
-
-
-
-
-
-
-
-
-
-
-
262,258
71,941
334,199
644,199		 Income
£
-
-
284,576
72,776
60,040
3,579
18,070
22,596
35,915
230,524
22,266
17,000
53,146
1,263
821,751
1,517,527
-
1,517,527
2,339,278		 Expenditure
£
-
-
(284,576)
(72,776)
(60,040)
(3,579)
(18,070)
(22,596)
(35,915)
(230,524)
(22,266)
(17,000)
(53,146)
(1,263)
(821,751)
(1,349,431)
(46,445)
(1,395,876)
(2,217,627)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(100,254)
100,254
-
-		 At
31 Dec
2021
£
310,000
310,000
-
-
-
-
-
-
-
-
-
-
-
-
-
330,100
125,750
455,850
765,850

Descriptions for the funds above can be found in note 15.

36 Page

SAT-7 UK Trust Limited

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

25 Analysis of net assets between funds comparative figures

As at 31 December 2021
Endowment fund
Expendable endowment
Unrestricted funds
General funds
Designated funds		 Investments
£
310,000
310,000
-
-
310,000		 Tangible
Fixed assets
£
-
-
10,156
-
10,156		 Other
Net assets
£
-
-
319,944
125,750
445,694		 Total
£
310,000
310,000
330,100
125,750
765,850

37 Page