Company fegistration number 03631207 IEngland and Wales) Ch14rity registratlon Thiber 1071823 (England #nd Wales) EUROPEAN MISSIONARY FELLOWSHIP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
EUROPEAN MISSIONARY FELLOWSHIP LEGAL AND ADMINISTRATIVE INFORMATION Trustees Rev G.N. Burke Rev D.M. Grimwade Mi G Hill¢ Rev D.L. Moore Mr N D Pountney Rev S. Quinlgn RevAWJ Steven5 MT L Coates Mis F R Barker Mr K J Hanna Secretary Mr G Brienza Country of incorporatlon Uniled Kingdom {EngL4nd and Waks) 03631207 Charity registration England arKI Waks 1071823 R•glstsr•d offlce 41 The Poinl M8ikel H8rbortsu9h Leicestershire LE16 7QU Auditor Cunninglons & Co Limited Edward House Grange Businèss Park Whelslone Leicester LE8 6EP
EUROPEAN MISSIONARY FELLOWSHIP CONTENTS Pagé Trustees, rewrt Independent auditorfs report 9- 11 Slalement of finaal actiwties 12 Balance sheet 13 Slalemenl of cash llows 14 Notes lo the financial slatements 15-27
EUROPEAN MISSIONARY FELLOWSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present Iheii report and financial statemenls of the Eutopean Missionary Fellowship IEMFI lor the year ended 310ecember 2025. The financial slalements have been prepared in accordance wth the a¢xounling poficies sel oul in note 1 to Ihe financial slalements and comply wilh the charitable companrfs Artides olAssociaiKJn. the Companies Aet 200S and 'Accovnling and Rèporting by Charities.. Statement tsf Recommended Pradice applicable to charitie5 preparing Iheir accounts in accordance wilh the Financial Repgrting Standaid applicable in the UK and Republic of Iieland IFRS 1021. (published in October 20191. ObJectlv•s and activitie$ The primary objective ol EMF is to promote the Gospel of the Lord Jesus Christ lo the Ople of Europe and lo do so in co-operation with all other evangelical Christians and the Evangelical Christian churches who agree wilh the doctrinal slalement of EMF. This is accomplished by providing financial rèsources, together with spiritual counsel and support to men and womèn who know themselves lo have been called by God foi Ihe proclamation ol the Gospel ol Jesus Christ. In so doin9. the second objective of EMF is accomp115hed whh is lo advance Ihe Chiistian religion ftsi the benefit of the public and in accordance with the doctrinal 51alement ol EMF Ihrough the holding of prayer meelin9S, training, lectures, produ(ing andlor distributing literature on Ihe Christian faith to enlighten others about the Christian lIgIOn. It is envisaged that financial suppori wsll idealy be temporary in natuie and thal churches established through the preaching of the gospel will in due time adopt the financial needs ol men and women pieviously supported through EMF. This charily is therefore an agèncy sou1n9 funds largety Irorn thurd)es and individuals within the United Kingdom, pioviding support lo missionary members of EMF preaching on the conlinent ol Europe. Being self- employed or èmployed by churche5. these people initsalty receive finawal donations and spiritual support from EMF, bul in liffle it is expected that Ihis will be repi8ced by support fr(n Iwl churches established through the preaching of the gospel. EMF is also involved in a number ol addrtional, though relaled. areas of ac11ty.. Financial support is OCCaSbonally piovided on an indiwdual proied basis tr assist, for example, in the constructN)n ol buildings to house indigenous national evangelical churches. or to assist in the renl or purchase of accommodabon for missionaries. EMF 15 committed to supporting training and ha$ established a Training Fund lo support potenlial sludies in ministry training particularly, though not exclusively, for a tsyo-year Urse Ihrough London Seminary. Through Ihe year. e studenls were supporled in their training. Funds are provided for the tranSlI0n. publicatKJn and distritAJtion ol Chiistian literatufe in Europe. A Lileraluie Fund has been established exp$Sty for this purpose. Funds are provided lor ouireach work in Europe. An Oulreach Fd has been eslablished expressly for Ihis purpose. As a result of the outbreak of war in Ukraine in February 2022. an EMF Ukraine Emergency Appeal has been established to assisl evangelical churthes in Ukraine lo administer aid to refugeès and lor the distribution ol Chrislian literature. During the year ended 31 of December 2025 EMF received £151,398 in donations and had made £1.867 in Granls lo the Ukiaine and neighbouring ¢ounlries. In January 2024 the EMF Execulive approved the establishmenl ol Ihe 'EMF 4".14 Initiative, {relerring to Ihe Bible verse Eslher 4..14- for such a tin7e a this) to support gospel workers in Ukraine. Through Ihe year 2025, twenty- o Ukrainian gospel workers have r1Ved support. In accordance with EMF'S objeclives, a signrficanl proportion of fesovtce5 is expended by way ol grants and is subsequently divided into missitsnary supporl. and inlo the cost of the other related areas ol aclwily as mentioned above. The grant-making policy of EMF is lo ¢onlinue to support the work ol Promoting Ihe Christian religion in accord8nce with the CharItS objectives subject lo any restrictions imposed by the original donor Of the funds.
EUROPEAN MISSIONARY FELLOWSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Excluding the Ukraine Emergency Appeal noted 81)ove. this year, EMF paid grants in lurtherance of the charity's objectives amounling lo £842.519 Icornpared to £823.857 in the prewKJus yearl. The charity benefits from the voluntary setvices ol a nurllber of helpers and in many ways. For example. during 2025 voluntary servi¢es were received particularly in rèlation to the preparation of Ihe Vision for Europe magazine, in assisting with adminislralive duties. and with regard to representing Ihe work of EMF in church mÈets"n9s al conlerencès. Many indid81$ and churches throughout the UK volunlarily assist Ihe missionary deputatlon pgraMMe by organising meetings and conferences and providing hospitality and transport. Voluntary help 1$ 8150 provided to publicise the work of EMF in Australia. Public benefit Thè Iruslees have paid due regard to guidance issued by the Charity Commis&on in deciding what activitie5 the ch8Titable company should undertake. Achlovèments and pèrfomianc• The Executive Committee plays a cruaal role in overseeing Ihe woth and met for its ular quartady meetings. It was supported and informed by the Busine55 Sub-commiitee, the Training Fund SutFCommittee. the Literalure Fund SuiFCommittee. and the Ukraine Emergency Fund SUCoMmIttee. A new Oulreach Sub-committee is being established lo manage lunding of ovtreach work in Europè. A deasion has been taken that going forward the Executive Commstièè will now meet three times pèr year rat1 than quarterty. No new trustees were introduceil lo the Execulive during 2025. One trustee has retired. Missionarysupport At the end 012025 a total of 96 missionaries in 19 Countries werè in fellowship with EMF. Thrèe new missionary couples and one single missionary were introduced into EMF in 2025. six missionary couple5 lof whth one missionary has died) 8nd two singles were retired {(Y rKJ longer nSIdered adive miss)naries). Details of those bodies and individuals who received finani>81 sUPPOrt are available on request from the rnis5ion office. Throughout 2025 support for thesè missionarie$ ha5 been maintsined. continue lo work lowards churches 18king more respon5ibilily for thè suppori of missionaries. The u)nlinuing econom pressures in many ol the countries we work with has meant that prog¥ess in thi5 is slow. EMF has provided pa51oral support for rfs missionary family in variou5 ways. both individually and colle¢tively. The Field Director 8nd other senior slalf have carrd out a number of pastoral visi15 lo missionarie5 in the field. Online missionary prayer meetings lake place once a month. Opportunities for orvjoing training and development have been made available lo all missionaries Ma courses run by London Seminary. Church and SupporterEngagefflent Deputation work and conference5 have taken place in both the spring and autumn of 2025 across the UK. Regular online webinars with strong conlenl and good attendance continued throughout 2025. Supporl for the work ollhe mission. whelher in financial lemis. or in prayerful intere51, inuèased durtng 2025, which can be attributed al least in part to these efforts to engage in new ways with the svpw1 base. Since the fulkscale war in Ukraine began in 2022. the EMF Ukraine Emergency Appeal has been exiraordinarily well suppori¢d by churches and indiwdual supporters. Suppori the 4..14 initiative has ¢onlinued through 2025, though al a lower rate. Llterature work EMF has ¢onlinued to support lileralure work in Spain with Editorial PewrirK, in Poland with Legatio and in Italy wrth Coram Deo. EMF supports Ihe missionaries who manage the Work. subject to the continuing activities of the publishing houses being acceptabie to EMF. The exislence of the Liierature Fund allows lor direct support towards covering the ¢0s15 of publishing rwi titles. Tralning forMl$$lon Work In 2025, the Training Fund Sub Commitiee met on four occasions lo discuss the ongoing work of training lor rnission work. Six students were supported, fully or partialty. for trainin9." one was with London Seminary, four allending the artin Bucer Seminary in Porlugal, and one wlh Union Sthool ofTheology in Bridgend, South Wales.
EUROPEAN MISSIONARY FELLOWSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDEO 31 DECEMBER 2025 Ukralne Outreach projects Donalions amounting lo £196,866 wem made to humanitarian aid and ev8ngel¢stic outrea¢h in Ukraine. Outrèaeh work acmss Eumpe Grants amounted lo £798,323 were made for oylrea¢h work across EuroFe (excluding Ukrainel. Church bulldlng projects Donations amounting lo £30,874 were made to building projects in Spain. continue lo aid some churches with rental payments lor their buiklings. Fundralsing practices European Mission Fellowship {EMF) is comrnitted to mainlaining high standards in its fundraising aciiwbes, ensuring Iransp8rency. accountability. and adherence to elhKal prinuples. Our fundraising approach aligns with the Code of Fundraising Pr8¢lic and compliès wrth all levanI legal and regulatory requirements, induding the Charities (Protection and Social Inveslrnenll Act 2016 and General Dala Protection Regulalw)n IGDPR). Fundrnising Methods and 0rsighI Our general lundraising engages in a variety of targeted fvndraising actNities induding granls, individual giving. church partnerships, Trusts & Funds, and legacy giwng. The Board ol Twslees provides strategic oversighl, en$uiing that all lundraising efforts support thè charitls mission and values. As EMF Seeks to grow ils work. the need for additional fundraising is being addressed primarity Ihrough the deputalion ptO9ramme, attendance 81 in- person ¢onfeiÉnces and onlinè webinars. the dislributK)n ol news updates and publicity lincluding on socjal media}, and the preparation of new publiaty material. We do not engage in unsolialed or high-pressure fundraising techniques and EMF doe5 not work wth Ihir¢party fundraiseTS. EMF is rK)l subiect to an underlaking to be bound by any volunlary scheme for regulating fundraising - except by the Furthigng RegulaloT lo which we subscribe. We comply with the requiTemenls ol thè Fundraising Regulator. Pmt&ctAng Supporters and the Public We are committed lo protecting donors and the puNic. parti¢ulady wlnerable individuals. from unreasonable fundraising practices. Our poliues ensure th81811 (x)mmunKalions are dear. iespecfful. 8nd Provide supporters with easy ways lo opt out of ftjrther ¢ontaci. Complaints and Monitoring We maintain a robust complainis process to address any con¢ems related lo our fvndraising actNiiies. Complaints are reviewed regularly by sènM)r managemenl and reported lo the trustees in line wrth our ¢omplaints policy. No complaints have beèn re¢eNed by EMF in 2025 alxtrul its fundraising adi.11es. Financial TranspaTrncy and EthKal Standards We are committed lo Ihe responsible usè ol lunds and ensure thal all fundraising cosls are proportionate lo the inwme generated. Whilsl EMF does not routinèly engage in speofic luftdraising projeets, all supporter donations are discloseil in our financial statements as are Ihe full details of our lundraising incorne and expenditure. We regularly review our income generation and management strategie5 to ensuro the financial viability of the charity. EMF upholds ethical standards ol operations in line with our fundraising policy. Financial review Total incoming resourc¢$ received during 2025 were £1.274,311 12024 - £1.476.135}. In¢luded within these incoming resources were reslticted funds amounting lo £752.703. whilst incoming general and designated fund5 fell by 15.79. to £521,608. Legae5 received amounted lo £53,559. During the rèporting period, 10181 expenditure amounled to £1,588,034 (compared wth the pvIOuS year of £1,506,609). This level of expenditure induded use of restricted funds amounting 10 £1,OCKJ.973. Expenditure from general and d&signated funds was therefore £567,1. The trustees consider that EMF has adequate resources to fulfil 115 immediate future obligations. We Continue lo seek Its ¢onlrol expendilure where p0$5ible without jeopardising EMF'S ability lo fuffil its aims and objectives. The work of 5UPPOrtin9 missionaries is regardeil as a long-lerm commitmenl and further fundiak%ing will be needed to finance actiwlies lor the longer lem7. This 15 bein9 addressed ptimarily through the deputation progfamme. attendance at iTrTrperson conferences and online webinars. Ihe dislributkin of news updales and publirity, and the prep8ralion ol new publicity material. Efforts are also being made lo apply for grant$ from Trusts and Funds. Staff numbers have incrèased during 2025 in order to help fulfil ihe5e goals.
EUROPEAN MISSIONARY FELLOWSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Ros&rves policy The trustees have established a general ieserves policy to ensu that EMF can maMIse the programrne irnpacl lor beneficiaries and maximise the value of nel income. General reserves prowde some protection lo the oiganisation and charitable programme and prOlde tirne to adjust to changing finan31 circumstance$. This limits the risk to the programme in the evenl ol a downturn in some of EMF'S variou5 sources of income or an unexpected need for addititsnal expenditure. This policy also provide5 pararnelers for lulure slrate9ic plans, contiibules lowards decision making, and influences EMF'S ways ol working. EMF aims lo keep in reserve funds representing approximatÈty six monlhs of total expèrKIttuTe. As shown in the notes lo the finan¢ial statemÈnls. after exduding amowrts retained in fixed assels, EMF had free unrestricled reserves of £2,524,407 al 31st December 2025. of which £nil has been designated by the Iruslees for parti¢ular piojects. The balancè of free ieserves repSentS approximalely 159% of the level ol total resources xpended in 2025 and provides EMF with suffirjenl comfort lo enable the conlinuanee of ils activities. EMF'S investment objeclive is to maximise the ielurn on its inveslment funds while maintaining maxirnum seourily and a high degreè ol liquidity tts allow a rapid response to uigenl needs as they occur. To meet this objeclNe, the EMF continues lo hold ils deposits in curcenl and savings accounis. The EMF veStnnI ftJnd5 established in 2019 did not perform particularfy well in 2025. Principal funding sourcgs The principal sour¢es of funds for Ihe work ol EMF are the gifts of supporbng chui¢hes and individua15. Granis from Trusts and Funds are becoming morè 5ignrfunt. Legac4es form an imporfanl but unpredictable additional sourGe of income. It remairbs an objective of Ihe Trustees to dose the gap beeen intome from donations and expenditure. The global e¢onomic situation continues lo affèct EMF'S finanal posilion, particulady thi(>ugh rising costs. The Trustees have assessed the major risks to whiGh the charitable o)mpany is exposed and are satisfied Ihal syslems are in placè lo mitigate exposuTe lo the major risk5. Rlsk $tatem•nt and plans for the future The purpose ol this statement is lo gwe readers of the truslees. annual repotl an insht into how the ¢haiily handles risk and an undersianding ol the major risks the chanty is exposed lo. In il we, as tru$lee5, have also laken the opportunity to evaluatè and comment on further developmenis of tisk management proceduTes being undertaken or plannèd. The twslees of EMF ackno¥edge their umimale responsibilty for Ihe risk management of EMF and Ihe subsequent development, ieview and implemenlalion of the risk reglster atKI risk policy. ThÈse risks a reviewed on a regul8r basis and are included in the trustee meetings, ensuring all aspects of the charitys work are Covered. Syslems and Procedures have been established lo mit¥Jale the risks the chafity faces. As part of Ihe ri$k idenlthcalion proces$ 8 risk pcltcy has been drawn up stipulating the obligations of EMF with regaids lo the identification and implemenlalion ol appropriate and rèasonable measures in the pievention of fiaud and mitigation of risk. It is reviewed al least every 2 years as ale other policiès such as the Safeguarding. GDPR and Finance. A risk register has also been established and will be reviewed annually or when significant levels ol risk ehange. Any rnajor areas of risk have been idenlified, assessed and where possib reas0Trab mrtigalions have been eslablished lo reduce the iisk lo acceptable levels. The main area5 of risk have been categorised as Govemance. Operatims, Safeguarding, Finance. Exlemal and Regulatory risks. Over the past 12 months the foll0vn9 specific events were noted as bèing polenlial areas of risk and a potential negative Impact on the effecliveness of EMF.
EUROPEAN MISSIONARY FELLOWSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2025 ulliple Stall appointments.. Operalions Diieclor {ODI", Church Patlnership Directoi ICPDI: Operalion5 Assistant 10A1,' Communication$ & Engagement Manager ICEMI.. Northern IreLand Youth Developmenl Lead INIYDLI,. Ukraine Lead IULI". Communications Assistant ICAI.. Fiehl Diredor IFDI placeMent - to come Into effectApril 2026. Staff deparlures.. Communications Lead (CLI did not rètum after malemity 8ve (Juty 251.. Ukraine Lead volunteer retiring aftèr many years ol seMcE lo EMF (Nov 251.. not2 lo retire of Ihe existing FD planned for May 2026 Unsatisfactory performance of CRM GDPR overhaul in Ihe CRM The stepping down 011 trustee- Nov 2025 Large budget def¢ planned for 2026 and subsequent years for gro%h and lo use invested funds 3 new missionaries appointed during 2025. S new missionaries approved for Jan 2026 start The death of one missionary in May 2025. relirement of 6 mi55ionary couples and 2 singles. As most ol the significant events have involved staffing, EMF has invested heavily in lime and money lo ensure srnoolh Iransilion in and out of sialf. Policiès have been put in place and been updated where necessary, and advice sought from èxlemal agenaes where nèeded. All new staff were piowded with contracts, staff handbooks. knowledge of policies. and rèlèvant training. EMF ha5 run an HR overhaul this year and has tighler procedvies for taking on new staff in line with Safer Recrustrnenl slandards. Teams have en created which have slrenglhened delivery across EMF'5 platform5 and regular departmental team meetings and whole slaff tneelings have been held. EMF has eSta1shed regular management and senior leadetship team meebn9s and a robust 51aff structure is in place and available for all to see wrth regards to Health & Safety and risk responsibilities. EMF ha5 established thi5 ye8r, an annual review lor slaff which will be implemenled early in 2026. Thls involves looking at each staff member's work over the lasl year and Ihe selling of aspirations lor the coming year. There is an anonymous feedback from for managed staff to complete on Iheif managers. A health and safety IH&SI ovèrhaul has been completed during 2025 ensuring compliance and risk redvction. An external paty was engaged for this and work with the operatKJns team and a Iruslee, ensured a timely and complete policy and prowlure is in a¢e. The Ios5 of Ihè CL necessitaled a restructured approath and a new COwnunlcIonS team has subsequenlly been (yealed and EMF is investing in gfealer engagemenl and Social media presence. Dèspite Ihe Ios5. overall EMF has illcreased stath.lity and strategic planning for Ihe fuiure in the area on coMmunall0$. A long-time volunteer reliied in the second hair of 2025, and Ihe Iruslees 8.sed Ihe neeessily ol appointing 8 paid employee to continue and grow the Ukraine Lead role. Ukfjaine continues lo be a key projed for EMF and brings in funds and supports many wothers in the area. The outcomè oUtsighed Ihe risk of an additional staff member. This role has come under the newly formed CommunKations le8m. The FD gave verbal intention lo ietire in the late spring of 2026. An inlemal applicant was interested in the vacancy and a lull and thorough applI110n and intervièw pro¢ess wa5 taken. The appointment of thi$ individual to the role greatly increases continuity and lowers Ihe risk of such a position change. This employee wll cOrnMen the new role in April 2026 which necessilales the appointment of a ieplacemenl Northern Ireland INII rep. Acthowledging this is a vital role in EMF'S income and thurch partner engagement. an advert was placed lale 2025 with a hope Ihal a new candidate could be in situ by the end of February 202fj to milj'gate against any negatTve impact of a job handover. The Iruslees viewed thi5 as the best outcome consideiing the key nature ol both the FD and Nl rep roles. One of the key areas EMF recognise5 as wtal to its functions. is in cuslomer comfflunication and accuia¢y of data captL•re. Due lo the promotion ol Ihe existing finance and operations assislanl. a new operalions assistant was appointed to ensure conlinuily of communi¢3tKbn wrth donors gardIng donatsoThs. This iole has also been key in the GDPR overhaul and general dala deansing that has commenceil and 15 ongoing in EMF'5 Cvslomer Relalit>n$ Management ICRMI syslem. There is a need for greater effiaency and a subsequenl change is required lo EMF'5 CRM. This is an area we are hoping lo progress in 2026. during 2025 preparation has slarted to be made lor this evenl. EMF realises Ihal new staff can bring inslability and it has therelore sought to milKJate against any specific risks arising from the changes. EMF has had 3 in person staff relreals during 2025. to Ing the team logelher, as Ihe remote nature ol the work can bring some i501ation to staff and EMF recognises an increased risk this brin9s lo new staff joining. Clear locus areas and wllaborated diarie5 have helped alleviate these risks. EMF from January 2026 has moved to a total digiial diary system to aid Ihe booking ol events and meetings.
EUROPEAN MISSIONARY FELLOWSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Thè Iruslees also acknowledge that the reduction to rts number of trustees over the last 2 years is 8n area of inoieased risk for the lellowship and 2 people have been approached wth a vièw lo joining the board. Applications will be progressed in coming monlhs. Risk evalln lor the onboaiding of new Iruslees has been compleled. EMF has taken a slralegic approach lo look lo spend the money il has VeSted from Ihè sale of Guessens some years ago. Heavy investment has been made over the past 3 yèars inlo staffing and taking on new missionaries. A$ a result. a large deficit budgÈ1 is planned for 2026, gradually tapeiing to a neulral budget in 2030. This is an area ol significant risk and Ihe trustee5 discuss the budget and ffinanual stalus al every meeting. Monlttly management accounts are produced and reviewed by the Business subc0mmee IBSC} on a morslhly basis. The BSC is rnade up of ITuslees and staff representatives. A 5 year plan has been drawn upwith both realistic and aspirational income lines and a projectèd overall balance is guiding decisions. EMF has a reserves policy and lo not each thal. careful monitoring and planning will be made. 11 was deaded that there would be a hart on the taking on ol any further staff and missionaries (excluding the Nl replament rolè. 2 rbew fep roles and missionaries already in the 8pplicalion processl. The iisk level remains high and very Caiefvl monitorin9 is needed. Contingency measures have been considered should this become nècessary. EMF has taken on 3 new missionary couple$ in 2025 and 5 MO have been agreed for an eady 2026 slart. EMF ¢ognises the risk this poses financAally and the increased workload on Ihe slaff. These even15 were noted and the trustee5 ale happy with the relained risk level. To miligate again51 risks identified with IT, EMF continue$ lo work with an IT specialisl for day tts day and troubleshooting help. This relationship 15 working well and fvrther work has been done lo ensure all IT aocounts and payments ale on a 2-factor authentication system and all related bank cards are current. A pro-aetive approach is being used lo analyse risk areas and look to impiovÈ systems as well as Kjentifying any polenlial Ihreats to cyber se¢urily. This risk area 1$ now deemed to be al an acceptsble level. EMF is planning 8 4-yearfy field confecen¢e in 2026. This is an aTea of signifieanl inveslmenl of both time and money and staff are underway wilh the plans for it. This constitute5 a sigTificanl finanryal risk for EMF but il was fell by the trustees that such a galhering of the whole EMF famity was necessary and they are happy with the resullant risk level. 1115 the trustees. responsibility lo review procèsses and procedures rewlady lo ensu risk levels are kept lo a salislactory threshold and where areas of risk are recognised as ha9 increased or new ones are idenlffied, a review of the risk registei and subsequenl rniligalions will be carrieil oul wthin a reasonable timescale. Structure. goveman¢e and management The charitable company is a company limited by guarantee wrth no Sha CApitsI, incorporated on 14 September 1998. EMF is govèmed by ils Arlicles of Assouation, adopted on 21 July 2014 in subslilulion for, and to the exclusion of, its previous Articles of Association. These were slightly updated in 2019 as we no longer own a property. A copy can be oblained from the company's Missn 0e. The Iru51ees, who are also the directors for the pufposè ol company law. and who served during the year were.. Rev G.N. Burke Rev D.M. Grimwadè Mr G Hilton Rev D.L. Moore Mr N D Pounlney Rev S. Quinton RevA W J Stevens Rev M R Thomas Mr L Coates Mrs F R Barker Mr K J Hanna (Resigned 3 November 2025)
EUROPEAN MISSIONARY FELLOWSHIP TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Recniitment and appointment of twstees EMF 15 administered and managed by Ihe Irustees. who are members of the charity for the purposes of the Companies Acl, in ac(x)rdance with ilsArtides olASsoallon. The followng organisalional structure is in place.. oanisatiOnals1nKtUre 1. OirectorsrUStee8 The direclors of the cornpany are thè chariVs trustèes. and they are thè body by which EMF is governed. Throughout this report they are referred lo collectivety a5 the Injstees. The nufflber ol Iruslees musl not be less than Ihree but is not subject lo any maximum. Appointment a5 8 Itustee is made on the recommendation of the existing Irustees to a general meeting. Potential new trustee5 U5ualty altend at least tsyo general meelings on a trial basis before an appointment is made. Such apwnlmen15 are based tsn the need for the d)arity as a whole lo have the skills and experience to delermine the policie5 of EMF and to monrtor the imWemenlation of those policses. Trustèes supplied with appropriate informalion lo enable them to fulfil Iheir dut*s and occasionally atlend independently- org8nised Iraining courses. 2. Members The Members of Ihe company are also known as the Executive Membus. This boty 15 ¢omprisÈd ol all trustees. Members are appointed by a general rneeting ol the members. Members nwmally meet on a quarterly basis and require a quorum of one half of Ihe mernbèis or three members {whichevei is Ihe greater) present in perstsn or by proxy and entitled to vole on Ihe business lo be transactèd. Members have guaranteed the liabilities of Ihe company up lo £1.00 {one poundl each. 3. Business Sub.¢ommSttee The Business Sub-committee is made up of a group from among the truslees and 51aff who are deemed suitable lo advise the full Board of Tiusteès On finanaal, management and administrative policy. Their responsibilits'es indude ensuring that the risk manageTnent and control processes within EMF are effeclive. They too meèl tsn a quarteily basis with ad hoc meeting5 a5 deemed necessary. Minutes of ihese meets.ngs are submrtted lo and approved by the Trustees at Iheir executive meetings usualty weeks following a Bu$ines$ Sub Committee meeting. 4. Training Fund Sub-committee The Training Fund Sub-commitlee is made up of a group from among the trustees and staff who are deemed suitable lo advise the full Board of Trustees on the training ol lulure mission workers and on Ihe financial. management and admini51ralive policies associated with the Training Fund. The Tiaining Fund Sub-commillee meets on an ad hoc basis a5 deemed necessary. Minules of these meethgs are submitted lo and approved by the Trustees al their executive meelings. 5. Literature Fund Sub Committee The Literature Fund Sub-committee is made up of a group from amorrtJ the trustees and staff who are deerned suitable to advise the full Board of Trustees on the translatiorh. publication, and distribution of Christian literalure in Europe and on the financial, man8getnÈnt and adminisirabve poliues associated wilh the Lileralure Fund. The Literature Fund sUCOMmIttee meets on an ad hoc basis as deerned netsssary. 6. Ukraine Emergency Fund Sub4ommittee The Ukraine Emergency Fund Sub-commiltee is made up of a group Ifom among Iru51ees and staff who are deemed suitable to advise the full Board ol Truslees on matters relating lo the support ol gospel WOTker$ in the Ukraine in view of the war wilh Russia. The Ukrainè Emergency Fund Sub-comrnittee meets on an ad hoc basis as deemed necessary. 7. Company Sècretsry The ¢ompany 5eGietary is appointed by the Iruslees. RemupTreffjlitsn policy The pay and remuneration of key managemènl personnel are sel by the truslees.
EUROPEAN MISSIONARY FELLOWSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 statemènt of trustees. rèsponsibilities The Iruslees, who are also the directors of European Missionary Fellimship for the puTp05e of company law, a responsible lor preparing the Tru51ees' Report and Ihe finanryal statèments in accordance with applicable law and United Kingdom Accounling Standards (Unileil Kingdom Generaly Accepted Acctyjntrng Pract1. Company18w requires the trustees Io Pfepare financial slalements for each finanrial year which give a true and lair view of Ihe slate ol affairs of the chariiable company and of the incoming resource5 and applicalioTr of resources, including the income and expenditure, of the charitable company for that year. In preparing these finanual statemen15, the tW51ees are required lo.. . select suitable accountin9 poIleS and then apply Ihem consislentty., obseNè the methods and princiFAes in thè Charities SORP". make judgements and èstimates Ihal arè reasonable and pwdenl.. slate whether applicable UK Accounling Standards havè been followèd, subjecl to any material departures disclosed and explained in the financial stalemenls", and - prepare the financial slatements on IhÈ going concèm basis unless rt is apprOpriate to presume that the charitable company will continue in opèralhjn. The tnJstee$ 8re Tesponsible for keewng adeque accounting rècords Ihal disclose vrith reasonable accuracy 81 any litlle the financial posrtion of the charitable company and enable them lo ensure that the financial statements ctsrnply with the Companie5 Acl 20(. They are also responsible lor safeguarding the assets of the charitable ornpany and hence for taking reasonablè slep5 for Ihe prevèntion and delects.on ol fraud and other iiiegularities. Auditor In accordance with the company's artidès. a resolution prowsing that CnIngtOn$ & Co Limitèd reappointed as auditor of the company will be put at a General MeetiNJ. Dlselosur of infom)atlon to ouditor Each ol thè tru51ees has confirmèd that there is no inft>rmalion ol which they are aware whth is relevant lo the audrt, bul ol which the auditor is unaware. They have further confirmed Ihal they havè tsken appropriate steps lo identify such relevant information and lo establish Ihat the auditor is aware of such infotmalion. The rustees, pOrt was appioved by Ihe Board ofTruslees. ev D.M. Grimwade Trust•e and director Dale..
EUROPEAN MISSIONARY FELLOWSHIP INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EUROPEAN MISSIONARY FELLOWSHIP Opinion We have audited the financial statements of European MISSnary Fellowship (the'charitable ¢ornpany'l for the yeaw ended 31 December 2025 which comprise Ihe slatement of finaal activitie5. the balan sheet. the 518tement of cash flows and notes lo the financial statemenls. including significant accounting policies. The financial reporiing framewo Ihal has been applied in their preparalion is applicable law and United Kingdom Accounting Standards. including Financial Reporlirhg Stsndard 102 The Finanal Reporting StanLI8Td 8mlffcabl6 in the UK and Republic or Ireland (United Kingdom Generally Accepted Accounting Pract). In our opinion. the financial slalemenls.. give a true and (air view of the slatè of the charitable companl$ affairs a5 at 31 December 2025 and of its incoming iesources and application ol resources. lor Ihe year Ihen ended.. have been properly prepared in accordanc£ with Uniled Kingdom General Accepted Accounting Practice.. and have been prepared in accordance wNh the requirements of the Charities Acl 2011. 8asls for oplnlon We conducted our audit in accordance with Inlemational Standards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities under those siandards are lurther described in the Auditols SponSibl11t16S lor the audit of the financial stalemenls se¢tion of oui report. We aTe independent of the dbantable company in a¢ctsrdance wilh Ihe ethical requirements that are ièlevant to our audil of thè finanryal statements in the UK, including Ihè FRC'S Ethical Standard. and we have fulfilled our other ethical re5ponsibililie5 in accordance with these requirernenls. We believe that Ihe audit evidence we have obtained is sufficAenl and 8ppiopriate to wowde a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements. we have rThidvded Ihal the trustees. use ol the going concern basis of accounting in the preparation of Ihe financial stalements is appropriate. Based on the work we have performed, we have not identifd any material uncertainlie$ relating lo events or conditions that, individually or colleclivety. may cast signifbcant doubt on Ihe charitable company's ability lo continue as a going concern lor a peiiod of at least Iwelve months Irom when thè financial sialemenls are authorised for issue. Our re5ponsibililies and ihe respon5ibilrtie$ of the trustee5 Wrth resped to gng con¢ern are described in the relevanl sections of this report. Other information Thè other information compTlSèS the information included in the annual rep olhÈr than the finanaal statements and our auditor'5 rèport Ihereon. The truslees are iesponsible for the other inlorrnation contained wilhin the annual report. Our opinion on the financial Statements does not cover Ihe other inlorrnalion and we do not express any lom) of assurance condu5ion thereon. Our responsibility is to read the other information and. in doing so, consider whether ihe olher information is materially inwnsistent with the finanaal stalements or our knowledge oblained in the course of the audit. or otherwise appears lo be malerially misstatèd. M we identify such matÈiial inconsistencies 01 apparent material misstatemènts. we are requirèd to detemiine whether thi$ gNe$ rise to a material misstatement in Ihe finanrial stalemenls themselves. If. based on the work we have performed. we conclude Ihat Ihere is a material misstatement of this other information, we are iequired lo reportthal lacl. We have nothing to report in this iegard.
EUROPEAN MISSIONARY FELLOWSHIP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EUROPEAN MISSIONARY FELLOWSHIP Mattèrs on which w• required to report by exception We have nothing to report in respect ol the following matters in relat io which the Charilies IAccounts and Reportsl Regulations 2(K)8 require5 U5 to report to you if. in our opinion.. the information given in the financial slatements is inconsistenl in any material sPeCt walh the Itu$teès' reporl,. or sufficient accounting records have not been kepl.. or Ihe financial statèrnenls are not in agreement with the accounting recoTds'. we have not reiVed all the information and explanations we iequire for our audit. R•sponslbllltl•s of try$tees As explained more fully in the slalemenl of trustees. responsibilities. the tru$lèes, who ale also the directors of the charitable company lor the purpose of company law, are iesponsible for Ihe pieparalK)n of the financAal slalemenls and for bèing satisfied that they give a true and fail vièw. and foi such intemal Iwlr¢A as the trustees determine is necessary lo enable the preparatson of financial slalements that are free from maler7 rnissialemenl, whether due lo fraud or error. In preparing the finanual stalemenls. the Iruslees are responsible for assessing the charitable company's ability lo continue as a going concem. disctosing. as apiCable, matters related to going concem and sing the goin9 concern basis of accountin9 unless Ihe Iruslees ether intend to IUldaIe the chaTrlable company or lo cease operations. or havè no rÈalisti¢ alemative bul lo do so. Auditorf$ rèspon$ibilities for the audit of tho flnanclal statsmènts We have been appointed as audrtor undei section 144 of the Charities Ad 2011 and report in a¢cordance wtth the Act and relevanl regulaknons made 01 h8wng effeci thereunder. Our objectives are lo oblain reasonable assuran¢e about whether Ihe ffinanual statements as a whole are free from material misstatement, whether due to fraud or error. and lo i$5ue an audrtor's report that indudÈs our opinion. Reasonable assurance is a high lèvel ol assurance but is nol a guaranlee that an audit conducted in accordance with ISAS IUKI will aayS delecl a material misslatement when it exisls. Misslalemenls can arise from fiaud or eiror and a ¢onsideied material il. individually or in ihe aggregate, they couk1 reasonabty be expected lo influence the economic deci5K)ns of users taken on Ihe basis of these financial statements. The extent to which our PrOdUleS are Capab of delectiny trregula1its, indJdiThJ fraud, is detailed belt)W. Irregularities. including fraud, are instsnce5 of non-compliance wth and regulations. We design prOdureS in line with our responsibilities, outlined above, lo detect material misslalemenls in respect of irregularities. including fraud. The exlenl lo which our procedures are tspab ol delecting Frregularilies. induding Iraud is delailed below". As part ol designing our audit. we determined materiality and assessed the risks ol mateiial mi5slatemenl in the financial slalernenls, induding how Ifaud may occur by enquiring of managÈmÈnl of 11$ own consideration of fraud. We did not identify any key audit matters relating to irregulaiilies. indudillg fraud. A further description of our responsibilities is available on the Finanaal Reporting CouncAI's website al.. hllps.'Il www.Irc.org.ukJaudilorsresponsibilities. This descriplion forms part of our avdilorfs ieptsrt. 10-
EUROPEAN MISSIONARY FELLOWSHIP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EUROPEAN MISSIONARY FELLOWSHIP This report is made solely lo the charty's Iluslees. as a body. In ac¢tsrdance with Part 4 01 the Charities IAccounls and Reportsl Regulations 2008. Our audil work has been undertaken so that we might slate lo the charity's trustees those tn8tlers wè are required to slate to them in an auditor's report and for no othei purpose. To the fulle51 extent permitted by law. we do not apt or assume Teswjnsibility lo anyone olhei than the Charity and the ch81ily's Irustees as a body. for our audit work, for Ihis report, or for the opinions we have formed. for and on behalf of Cunninglons & Co Limited Chartered Certified Accountanls Statutory Auditor Edward House Grange Business Park Imietslone Leicester LE8 6EP Cunningtons & Co Limited is eligible for appointment as auditor of the th3rrtablè company by wrlue of 115 eluibility for appointment as audiloT of a company under section 1212 01 thè Companie5 Acl 2006. 11
EUROPEAN MISSIONARY FELLOWSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestriet*d R•stricted funds funds 2025 2025 Totsl Unrestricted Restricted funds funds 2024 2024 Totsl 2025 2024 Not¢s Irbcome and endowments from: Donations and legacies Investments Othèr income 440.926 80.116 752.703 1.193.629 80,116 531,337 87,072 1,029 856.697 1.388,034 87,072 1.029 Total incomè 521,608 752,703 1.274,311 619.438 856,697 1.476,135 Expènditure on: Raising funds Charitable aciiwties 191.342 191,342 395,719 1.¢JOO.973 1.3.692 143,270 ,051 143,270 1.007.288 1,363.339 Total •xpenditure 587,061 1.OCK),973 1,588,034 499.321 1,007.288 1.506.609 Net gainsluossesl on invèslmenis 13 1130.3521 {130.3521 69,274 69,274 N•t Incomellexp•nditurel 1195.805) 1248.270) 1444,0751 189.391 1150,5911 38,800 Transfers between funds (208,4581 208,458 {202,354} 202.354 Net movèmènt In funds 10 1404,263) {39.8121 (444.075) 112.9631 51.763 38,800 Rè¢onciliatlon of lunds: Fund balances at 1 January 2025 2,934.091 171,354 3.105,445 2.947.054 119,591 3,066,645 Fund balances at 31 Dè¢ember 2025 2,529.828 131,542 2.661,370 2.934,091 171,354 3,105,445 The slalemenl of financial activities indudes all gain5 and losses Cognised in the year. All income and expenditure derive from continuing aclivilies. 12-
EUROPEAN MISSIONARY FELLOWSHIP BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Not•s Fixed assets Tangible assets Current assets Debtors Investments Cash at bank and in hand 15 5.422 4.512 16 17 106,894 2.313.317 254,120 169,035 2,593,669 361.584 2.674.331 3,124.288 Creditors: amounts falling due within one year 19 118.3821 {23.3551 Nel current a55els 2.655.949 3.100,933 Totsl assèts less Current liabilkties 2.661.371 3,105.445 Income fvnd$ Re511icted funds nieslricled funds Designated lunds General unrèstricled funds 22 131.542 171.354 23 3,087 2,931,004 2,529,829 2.529,829 2.934,091 2.661.371 3.105.445 The chaTit8ble ¢ompany is entitled lo the exèmptiors from the audit requirerTrÈnl contained in Section 477 of the Companies Act 2006. lor the year ended 31 December 2025. although an audit has been carried out undèr seclion 144 of Ihe Charities Act 2011. No member ol the chaiitable company has deposited a noli¢e, pursuant lo se¢tion 476. requiring an audit of these ffinanual statements under the requirements of the Companie5 Act 2006. The trustees acknowledge their responsibilrties for ensuring that the Charitab ryynpany keeps accounling records which comply with seclion 38fj of the Acl and foi preparing financial stalements which gwe a true and fail view ol Ihe state of affairs of the charrt8blè company as at Ihe end of the ffinan(Jal year and of its incoming resource5 and application of resources, induding rts income and expendilure. for the finanual year in accordan with Ihe iequiremenls ol sections 394 and 395 and which otherwise compty with the requirements of Ihe Companies Act 2006 relating to fin8nual 51atements, so far 85 applicable lo the charitable company. The members have not required Ihe mpanY to obtain an audit of its finanryal statements undei the requirements of the Companies Ad 2006. for the year in question in accordance wilh section 478. These financial statements have been prepared in accordance vrith the wowsions applicable to mpanIeS subject to the small companies regime. Th al statements re approved by the Twslees on. ev D.M. Grirnwade Trustee Company R•glstratlon No. 03631207 13-
EUROPEAN MISSIONARY FELLOWSHIP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Notes Cash flows from operatlng activltF•s Cash absorbed by operation5 28 1324.2621 1264,0531 Invèstlng activities Purchase ol tangible fixed assets Proceeds on disposal of investments Interest received {4.865) 150.000 80.116 15,2211 87,072 Net cash y¥neratsd from Investing activitlos 225.251 81,851 Nèt ¢aBh used In finan¢ing activltl•s Net decr•a$e in cash and cash equivalents {99.011} 1182.2021 Cash and cash equivalenl$ al beginning of year 353.131 S35,333 Cash and ¢#¥h equivalents at ènd of year 254.120 353,131 R•lating to.. Cash at bank and in hand Bank overdrafts included in creditors payable within one year 254,120 361.584 18.4531 14-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng poll¢i•$ Charity information European Missionary Fellowship is a private cofflpany limrted by guaranleè incorporated in England and Wales. The registered office is 41 The Poinl. Market Harborough, Lwcestershiiè, LE16 7QU. 1.1 Basis of preparation The finanoal statements have been prepared in aceordan¢e with the charitable compan$ Artides of Association. the Companies Act 2006 and -Accounting and Reporting by Charities.. Slatement ol Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporiing Standard applicable in the UK and Republic of Iieland IFRS 1021" (Issuèd in October 20191. The charitable company is a Public Benefil Enlily as defined by FRS 102. The financial slatemenls are wepareil in slerfing. which is Ihe lunction31 currency ol the charitable company. Monelary amounls in these financial sialemenls are rounded lo ihe ne8fest £. The finaricial slalernenls have been prepared under Ihè historical cosi convèntion. The principal a¢¢ounting polic¢es adopted are sel out below. 1.2 Going concern At the time of approving Ihè financial statements. the trustees have a reasonable expeclalion Ihat the Charitable company has adequate SOurCeS to continue in opeiational existe for the foreseeable lulufè. Thus the Irustees continue lo adopt the going concem basi5 of accounting in preparing the financi81 518lements. 1.3 Charltable funds General funds are unreslricled (unds that are available for use at the di5cielion of Ihe trustees in furtheianee of their chariiable objective5 whid) have not been designated foi other purposes. Designated funds compiise unrestricted funds that have been set aside by the tru51ees for parb"(xJlar purposes. Restricted funds are those whwth can only be used for partthlar restricted purposes wlhin the obj'ect of the chanlable company. Restrictions arise when specffjed by the dtsnor or when ftJnd5 are raised for particular restricted purposes. Thè aim and use ol eath restricied fund is sel out in the noles lo the financial statemenls. 1.4 Income Income is recognised when the charitable company 1$ kgally entilled lo it afteT any perfom)ance condilions have been met, the amounts can be measured reliabty. and rt Is piobable that income wil be received. Cash donations are rt¢ognised on receipt. Other donalions a {X)gnised once the charilable ¢ompany ha5 been notified ol the donatK)n, unless perfomance conditions Tequire delerial of Ihe amount. Income lax recoverable in relation to donations received under Grfi or deeds ol covenant is recognised at the lime of the donation. Lega¢iès are recognised on feceipl or otheise rf the chaiilable company ha5 been notified ol an impending distribution. the amount receivable can bè estsmated with ieasonat* accuiacy. and receipt 15 expected. 11 the amount is not known. the legacy IS treated as a ¢onlingent a55et. 1.5 ExpÈnditure Expendilure is induded in Ihe finanaal statements on an accwals basis. inchjswe of any VAT which cannot be fecovered. The costs ol raising lunds comprise thosè cosis aslated with attracting voluntary income. 15-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies Icontinuèdl Chaiilable expenditure comprises Ihose costs incurreil by the thanlable company in the delivery ol ils aetivilies and servi$ lor beneficiaries. It indudes tM)Ih cosls that be allocated directly lo such activities and Ihose of an indirect n8lure neSSary to support them. Certain expenditure is directly attribvlable to specffic actmtiès and has been induded in those cost calegoriès. Certain other costs, which are allributable to morè than one activity. are apportioned across Cost categories on the basis of either eslimale of the proportion of tin* spent by stsff or upon usage of those activib'es. 1.6 Tangiblè fixèd assèts Tangible fixed assets are irhilialty rneasured al cost and subsequa)tly measured al co$1 or valualion, nel of depieciation and any impairment losses. Depreciation is iecognised $0 85 to wrrte off the cost or valualon of assets less their residual values over théir Useful lives on the following bases.. Fixtures and fittings 20% per annum on a reducing b8lan¢È basis The gain or loss arising on the disposal of an asset is determined as Ihe differen between the sale proceeds and the carrying value of the a55el. and is recognised in Ihe slatement ol financial aetivitie$. 1.7 Impairnient of fixed assèts At each reporting end date, the charrtable company leewS the CHrn9 amounts of ils iangible assets lo determine whether there is any indicalitin that those assets have suffered an impairment 1055. If any such indication exists, the recoverable amount of the asset is eslimaled in order to delelmine the extent of thè impairmenl loss lif any). 1.8 cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held al call wrth banks, other short-lerm liquid inveslmenls with original malurilies of thiee month5 or less. and bank overdiafts. Bank oveidraNs are shown within borrowings in current liabilities. 1.9 Financial iristruments The ¢h8ritable company has elected to apply the provisions of Sedion 11 'Basic Financial Inslrumènts, and Section 12 '01her FinanrAal Instruments Issues. of FRS 102 to all ol ts fiTranc•al iThslrumenls. Financial instruments afe rècognised in the ¢h8rrtable cornpany's balance $heel when the chariiable company becomes party lo the contractual provision5 of Ihe instrument. Financial asseis and liabilities are offset, vrith the nel amounts presemed in the finanual stslemenls, when there is a legally enforceable right lo set off the recogni5ed amounts and there is an Intention lo sellle on a nel basis or lo iealise the a55el and settle the liability simulianeiwsty. Basic flnanelal assets Basic financial assels. which include debtors and cash and bank balanees. are iftilialty measured al transaction piicè including transaction 5¢S and are svbsequenlly carried al amortised cost using the effective interest method unles5 the arrangement constitutes a financing transaction, where the transaction is measured at Ihe presenl value ol the future receipts discounted at a market rate of interest. Financial assets dassffied as receivable vrilhin one year are not amortised. 16-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies (Continuedl Baslc financial liabilrfles Basic financial liabilities, induding cfedi1015 and bank loans are inilolly recognised at transaction price unles5 the arrangement constilules a financing transaction. where thè debt inslfurnent is rneasud at the Psent value of the fulure payments discounled al a market rale ol interesl. FiTranryal liabili1$ classified as payable within one year are nol amoriised. Debt instruments arè subsequenlty carried al amortised cost. using Ihe effective intere51 rale method. Trade ctedilors a okAigalions to pay lor goods or 5eThices Ihal have been acquired in the ordinary course of operations from suppliers_ Arnounts payable are dassified as cUrnt Iiabililie5 if payment is due within one year 01 less. 11 not. they are presented as non-current liabilities. Tiade creditors are recognised initially al Iransaction price and subsequèntly measured al amortised cost using the effective interest method. Dèrecognition of financial liabililies Financial Iiabililies are derecognised when the charitable o)mpany's ¢ontractual OblationS expirè or are discharged or canceled. 1.10 Employee benefits The cost of any unused holiday enlrf]Èment is recognised in Ihe period in which the employee's semces are received. Termination benefrts are recogni5ed immediately as an expense when thÈ tharitable cornp?ny is demonstrably committèd to terminate the employrnènt of an employee or lo prowde lerminalion benefits. 1.11 Retirement benefits Paymenls to defined contribution reliremenl benefrt schemes are charged as 8n expense as thèy fall due. cr1cal accounting estimates ond ludgèments In Ihe applicalion ol the charilable comp8ny'$ accounling pOle5, the trustees are iequired to make judgements. eslim8le5 and assumplions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimates and 855ouated assumptions are based on historical experience and other factors that are conSided to be rdevant. Actual results may drffer from these eslimale5. The estimates and underlying a55umplions are reviewed on an ongoirvj basis. Revisions lo accounting eslimales ale rewgni5ed in the period in which the eslirnale is revised where the rewsion affects only that period. or in the period of the revision and fulure periods where th& l$lOn affects both currenl and luture periods. Donations and lega¢i#¥ Unrestrietèd Rèstricted funds funds Totsl Vnrestficted Resiricted funds fund5 Total 2025 2025 2025 2024 2024 2024 Donatioris and gifts Legacies receivable 387.367 53.559 752,703 1.140,070 53,559 376.103 155,234 856,697 1,232.800 155,234 440,926 752,703 1,193.629 531,337 856,697 1.388,034 17-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Inv•stments 2025 2024 Income from listed investments Interest receivable 73,534 6,582 73.663 13.409 80,116 87,072 Oth•r 2026 2024 Lileiature salès 1,029 Raising fund$ 2025 2024 Fundrai and Travel expenses Telephone and office expenses New51etter Literature Other fundr8i5ing co$ls Staff costs Depreciation and impairment 44.102 4.093 3,502 2.092 16.671 119.419 1.463 39.255 3,577 3.801 1.175 16.539 77,891 1,032 Fundraising and publicity 191,342 143,270 18-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 Charitsbl• actlvltlè$ Mission support Literature work Church building Ukraine appeal Totsl 2025 Total 2024 Staff costs Depieciation and impairmenl Other costs 188,518 9.393 8,052 21.476 227.439 194,855 2,175 96.708 158 5.239 158 2.491 127,377 1,759 121.816 22,376 287,401 14,790 11,264 43,852 357,307 318,430 Grant funding of actiwties Isee nole 81 798.323 13.322 30.874 196.866 1,039,385 1,044.909 1,085.724 28.112 42.138 240,718 1,396.692 1.363,339 Analysis by fund Unreslrided funds Restricted funds 325,813 759.911 14.79) 13.322 11.264 30.874 43,852 196.866 395.719 1.IK)0.973 1.085,724 28.112 42.138 240,718 1.396,692 For the year¢nded 31 Dec¢mbèr 2024 Unreslricled funds 286.652 Restricted funds 729.182 13.461 17.325 10,098 39.729 45,840 221,052 356.051 1.007,288 1.015,834 30,786 49.827 266.892 1,363.339 19-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Grants payable Misslon support Llt•rntuwe wo Church building Ukraine appeal Totsl 2024 Grants to instittJtions1460 grants)-. Support of missionaries in Europe Editorial Peregrino, Spain Sines, Portug31 Ciudad Real, Spain Almunecar, Spain Ukraine emergency appeal LiteralLJie fund Other 426,9C6 426,906 394.670 1.000 10,579 11,975 16,725 4,425 21.046 3,903 4.425 21,046 3,903 89,292 89,292 13.322 9,150 98,387 16,325 6,880 13.322 7.650 434,556 13.322 30.874 89.292 568.044 556,541 Grants to individuals1469 grants) 363,767 107,574 471.341 488,368 798,323 13.322 30,874 196.866 1.039,385 1,044,9 Details of Ihe insliiutsons that recÈived grants during the year for the support of missionar& in Europe and the amounts paid to each instrtulion are available upon requesl in wrib.ng lo the registered office 8141 The Poinl. Markel Harborough. LeiceslershiTe LE16 7QU or online al www.europeanmission.org. Support costs Misslon support Literatur• work Church bullding Ukra•ne Appeal Total 2025 To¢01 2024 Staff costs Adminislralive expenses Audit and ccounlancy lees B8nk charges Depreciation 45.842 1.523 1.523 9,221 58,109 58,169 35.911 1.170 585 4.385 42.051 37,524 3.659 1.562 2.017 225 87 158 113 87 158 4,841 4,339 2,333 6,020 3,177 1.647 2.603 88.991 3.163 2.466 17,053 111,673 106.537 Administrative expenses indudes premises costs. office expenses and Ifavel expenses which have been apportioned on a usage ba5Tr5. Olher costs within adminislralivÈ Èxpenses and slaff costs are apportioned on a lime basi5. -20-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 10 N¢t movemènt In fund$ 202S 2024 The net movement in lunds is slated after thargingllcrediting)-. Feès payable for the audit of the charity's finanaal statemen15 Depreciation of owned tangible fixed assèl$ Operating le8$8 chargès 3.960 3,955 9,000 4.258 2.790 17,879 11 TrwJtee3 None of the Iruslees lor any persons ¢onnected wrfh thèm) reCeEd any remuneratiors or benefrts frorn the charilable company during the year. Eight trustees were reimbursed a total of £4.125 lor travel and meelings c051$. which were incurred perfoitning voluntary work for the charitable company12024 - ten twslees were reimbursed £3.8191. 12 Employees NLtmb•r of omployees The average monlhty number of employees dLTrring the year wa5- 2025 Numbèr 2024 Number Adrninislralwe and Support Represenl8twès Management Retired workers 14 12 Employment ¢g$ts 2025 2024 Wages and salaries Social securily cos15 Olher pension costs 302,219 20,571 24,(8 235,538 14,819 22,389 346,858 272,746 There were no employees whose 8nnLtal remuneralion was £60.oc or more. 21
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 13 Gains and loss•s on Inve¥tments Unrestricted Unr•$triet•d funds funds 2025 2024 Gainsl{lossesl arising on.. Revalu81ion of investments Sale ol inveslmenls 1124,716) 15,636) 69,274 {130.3521 69,274 14 Taxation The charity is exempt from taxation on ts actiwties because al ils irKorne is applied lor charitable purposes. 15 Tangible fixed ass•ts Flxtvygs and Ilttlngs Cost At 1 January 2025 Additions 14,907 4,865 At 31 Decèmber 2025 19,772 Depreciation and Impalrn)ant Al 1 January 2025 DepCIatIon charged in the year 10,395 3,955 At 31 December 2025 14,350 Carrying amount Al 31 December 2025 5.422 Al 31 December 2024 4,512 16 Debtors 202S 2024 Amounts falling due within one year: Olher debtors Prepayments and accwed income 36,008 70,886 62.051 106,984 106.894 169.035 22-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 17 Current asset invoslm•nts 2025 2024 Listed investmenls 2.313.317 2.593.fj69 18 Loan$ and overdrafts 2025 2024 Bank 0rdraft$ 8,453 Payable within one year 8,453 19 Crodltors: amounts falling due within onè yèar 2025 2024 Motes Bank overdrafts Other laxation and soaal securrty DÈlerred income Accruals 18 8,453 2,950 6,955 2,191 9.236 11,952 18,382 23,355 20 Oeferred income 2025 2024 Other deferred irorne 2.191 Defeired income is induded in the finanrial stalements as follryws.. 2025 2024 Deferred income is induded wrthin.. Current liabilrties 2,191 Movèments in the year.. Defèiied ineome at 1 JanLTrary 2025 Released ffom previous periods Resources delerred in Ihe year 8,205 18.2051 2.191 Deferred income 8131 December 2025 2,191 Deferred income was in respect of missionary support received in adv8nce. -23-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 21 R¢tlr•ment benefit sch•m•$ 2025 2024 Defined contrlbution $¢hemes Charge to profil or loss in respeci of defined ntributIon schemes 24,068 22,389 The charitable company operates a defined conlribulion pension scheme for all qualifying employees. The assets ol the scheme are held separalety from those of the tharitabk MpanY in an independently adrninislered fund. 22 Restricted fund$ The festrictèd lunds of Ihe charily comprise Ihe unexpended balances of donatrons and grants held on trust subje¢l to specifK condilions by dorKJrs as lo how they may be used. At 1 January 2025 Incomlng resoure•s Resources •J(pended Transf•Ys At31 December 2025 Support of missionaiie5 and personnel Church building Small restricled funds Gospel gr0h fund Ukraine Appeal fund 12.610 352.478 30,874 25,523 192.430 151,398 (524.7521 (30.8741 136.0941 (212.3871 1196.8661 177.930 18,266 10,571 19.957 158.744 113,276 171.354 752,703 11,(KIO.9731 208,458 131,542 Pr•vlou$ year: At 1 January 2024 Incomlng Rèsources r•$oure•$ oxpènd•d Transfers At31 December 2024 Support of missionarie5 and personnel Literature work in Europe Church building Small restricled funds Gospel gr0h fund Ukraine Appeal fund 16,499 357.037 1.400 39.729 15.621 166.206 276.704 1528.8051 116,3251 139.7291 115.6211 1185.7561 1221.0521 167.879 14.925 12,610 19.550 103.092 158,744 119.591 856,697 {l.(7.288) 202,354 171.354 -24.
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 22 Restrlctod fut)ds (Continuedl Support of missionaiies andpersonnel These arnounls represenl the totals of numerous small funds created by donations receNed for the purpose ol 8S5isling with the support ol parliculai missionaries and members of Ihe charily's personnel. Funds ieceived have beer) distributed in accordance wrth the donors. requ1ments. Details ol the individual funds can be obtained from (he Mission orrice. Literature work in Europe This reslrided fund represents donations received lo provide funds for activities associated wrth the translation and publicalion ol Christian literature in European langua9es. Church building The reslricted fund was opened in ordef lo re¢eivÈ donalion$ for thurth buikling projects in Sines, Portugal. Almunecai, Spain, Ciudad Real, Spain and Aaok?. Portugal. Sm811 restiicted funds These amounls represent the lolals of various small funds created by dorhatK)ns for specrfic purposes. All funds are being distributed in accordance wilh the donois. rÈquiremenls. Details of the individual funds can be obtained from Ihe Mission Office. Gosp81 Growth fvnd The Gospel Growth Fund was established lo suppoii new gospel workers, drNe new inilhalive5. reach new communi(ies and plant new ¢hurthes. Ukraine Appeal fund An EMF Ukraine Emergency Appeal was eStaiShed lo assist evangdical churches in Ukraine lo adminisler aid lo refugees arid distribute Christian lilerature Idlowng the invason of Ukraine by Russia in February 2022. Trartsfers Transfers represent the Use of unieslricled funds lo supplement the charity's direclly supported missionary work. 23 Unrèstr1et funds The unrestricted funds of the char-ty comprise the unexpended balanS of donation5 and grants which are not subject to specific condition5 by donors and grantors as to thèy may be used. These include designated funds which have been sel aside out ol unrestricled funds by the trustees for specific purpose5. At 1 January 2025 Incoming Tesources Resoyrc•s expended Trdnsfers Gain$ and losses At31 December 2025 Training lund General funds 3.087 2.931.005 188 521,420 133.5441 {553.5171 30,269 1238.7271 1130.3521 2.529.829 2,934,092 521,608 (587,(1) 1208,4581 1130,3521 2,529,829 -25-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 23 Unrestrlct•d funds (Continued) Prèvlous yèar= At 1 January 2024 Incoming wesouK•s R•soure•$ •xp•ndÈd Transfers Galn$ and losses At31 D*¢emb•r 2024 Training fund General funds 6.440 2,940.614 {35.853) {463.4681 31.500 {233,854} 3,087 2,931,004 618,438 69,274 2,947.054 619.438 {499,321) (202.3541 69,274 2,934,091 Warning.. Balance elf from prlorperioddoes m)1 equalbalanre b/f In eufrentperiod 2,934.092 Training fund This fund was established in 2019 to support potential St11eS in ministry training - particularty. though not eXdusiVe. for a tmo year course Ihrou9h London Seminary. Analysis of net as$¢ts betw••n funds Unrestricted Restsicted 2025 2025 Ttstsl 2026 Total 2024 Fund balances at 31 De¢ember 2025 are represented by.. Tangible assets Current asset(lIabilllle9I 5,422 2.524.407 5,422 4.512 131.542 2.655,949 3.100.933 2.529,829 131,542 2,661,371 3,105,445 25 Operating leasè commllm•nts Les¥ee At the reporting end dale Ihe d)aritable company had outstanding commilmènls IOT future minimum lease payments under non-cancellable operating leases, which lall due as follows". 2025 2024 Within one year Bètween Iwo and five year5 9,000 33.750 24,750 33,750 42.750 26 Related party tran$a¢tlon$ There were no disd0sae Telaled party IransaciM)ns during the yeai12024 - none). 27 Analysi$ of changes in net funds The charitable ¢omp8ny had no material debt durin9 the year. -26-
EUROPEAN MISSIONARY FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 28 Cash generated from optrntio 202S 2024 IDefiatllsurpus for the year 1444,0751 38,800 Adjustments for. Inveslmenl income recognised in slalement of finaThial aciNitses Loss on disposal of investments Fail valLJe gains and losses on invesiments Depreciation and impairrnenl of tangible fixed asseis 180,1161 5,636 124.716 3,954 187.0721 {69,274) 2,791 Movements in worknng caprtal.. Decreasellincreasel in debtors Increasellde¢reasel in Greditors Increas&l{de(yeasel in deferd income 62.143 1,289 2.191 1139.3151 11,7781 {8,2051 Cash absortjed by opèratlons 1324,262} 1264,0531 -27-