Financial Statements Fcrf >wr•%Jod 31 21Y THE KESWICK CONVENTION TRUST Compwy No.. 03913741
CONTENTS PAGE Informalk Rfjporl of the Oiroclors 4-12 Report ol th• Ind¥wKknI Audilor 13-16 Slalemenl of Financial Aclivllbs 17 ealance Sheet 18 SI810ml olcash FhThvs 19 Notes 10 the Flnancial SlatenIs 20.35
Refor9n informatlon ADDRESS.. The Pe7 FaGt(My C8rdwvJ Mill Lane KeswiL mbrfa CA12 SFD REGISTERED CHARITY NUMBER.. 1083584 COMPANY REGISTRATION NO.. 03913741 WORKING NAME.. KttswKk Minkil GOVERNING DOCVMENT.. TRUSTEES.. Mr S Adam. Treasurw MrM)By8 Mr S Hal? Mrs C Heath-Whyt• Mf8 A Pull Rev M Salter (Chaymanl Rtsv J Taylor Mr& M Bakh¥in Mrs J Whi181xsg Rev A MacLeBy Rtrv El CHIEF EXECUTIVE.. DIRECTOR OF BUSINESS OPERATIONS Mr Mlk8 Cawy COMPANY SECRETARY.. Mr S O¥ereThl AUDITOR.. Forvis Mozarn LLP. 5th FION. 3 Wevd'nglon Pe, L88ds, LS14AP ACCOUNTANTS.. bins(Mi + Co, Oxford Chanws, Now Oxl(d SlroOt, WoffkiNJton. CA14 2LR SOLICITORS.. Ein ConN)r Sdwit Eif4ernr & Negus Llmlled 10 The Poinl Mathei H8rtK¥tyJgh Leicestershire Be8ston, Nolkngham NG91DS LE16 7QU CHARITY OBJECTS: The Twstexr818 to PrOnle &"IA8 Teacll al an WNKJal Conventh)n in Keswck arnl olher LKra¥i wilh th8 alm Of80 holy and Bital lile5tyle5. BANKERS.. HSBC th 1 Market Te. PerKtth CA11 7SN
REPORT OF THE DIRECTORS The Directors present their Annual Report and FinancialStalerneTrtsfat the year ended 3108CbBr 2025. DIRECTORS AND OFFICERS The following dirtclors held ollice lor lh8 ol lh8 year &) 3108cemb8r 202S and lo th8 dale of Ihls report unless otherwise staled.. Mr S Adam. Tiea5uror Mr M J Byall M S H818 Mrs C Heath.W RBV Dr J M¢auLJ (Reik8 1d Sepiembw Z0251 Mrs A Pull Ro¥ M Sallot ICh•wwsl Re¥J Mr5 M 8akw Mrs J whrte Rov A MacLeay KESWICK MINISTRIES VISION Keswck Ministries exi818 lo ieliesh God's people With joy in Chris1 Jesus. Our deslie is Ihal from ihal overtlow. we wlll go oul io brlng hls blessing lo all nalions IGen12..31. AJI God's peo are called lo look more Ilke JU8. be 8 ble55in9 to the Communilies wherevei he ha5 placed u5 acr055 the UK, and %thlh a heart fol hi8 worfd. Ke5wlch Mln15tr1es help5 Chrlslian5 lo fuifsl thai talling. so Ihal. dlrfjcled and gulded by God's vKYd, Ihey will grow in Ihe povler ol hi$ Spiril. Keswlck Mlnislrles has a long histuy of senth"w out Chrislians inlo the world lo lead others by ieachlng Ihe Irulhs contained in Ihe Bb and seMng In all walks of lile, Including aom8 of Ihe poorest and mo81 dlsadvanlage¢J area8 of this counlry and aiound the worfd. e achieve these aitns Ihrough Bibb leaching al our sumtner c¢veIKl, through the resource5 Ihal fiow from Ihis. in our progiamffle ol year4ound fflinislry even15 and fv public011 or twks.. the provision of on. Ilne iesour¢es. and ¢asts #1 slipp1 disripleship. Untlerlying this 1$ eUl#geMent anij supwt ror mission. THE KESWICK CONVENTION. PLA14NING FOR GROWTH 2025 rnae Ihe Keswick Cven110n.S 1W anniversary wilh recud numbers. kld8, youth and adults alien¢Jing acioss Ihe Ihree weeks. wlh arwnd 5.(th people on 511e in Week 3. There Is a real Sense that we a on the cusp of 8 wxJ of gr(Ath. There Is a red aNJ hunger tor sound Blbllcal leachlng. Vve have the repuiation. reach o$S "evangellrAlism". and th8 physlcal Infrastructure to grow ihe y8ar-roJnd ministry we oller. The ConvenlK)n rel$ on 870 vdunteets, inc5udiw pat¥timE Toles. enable us to delNe¥ thp event safely and efleclwdy". this is 3 very popu13r w3y Io serve. Keswck Mini51rie5 pTo¥eS accotnmDdalion. tnea55 and ofter5 travel expenses. tnany volunteer5 turn year alter year to help. We are hugely indebted lo these volunteers. wilhoul whom Ihe Convenb'on cwld nol lake plxe. Volunteer5 undertake a wide variY of prttsl tasks duriw Convenlkn Iklds, youth and y(xJng adults work, welcome team, cale11ng. cafè. gift processing and reception teams). We provide appropriaie training, including safeguarding and counter IriSM awareness. and cary out ihe necessary DBS safeguarding check5.
RESOURCES Ke5wiGk Mini51rles conlinugs lo publtsh Il¢ralure and on.11 reswr¢ès that build on aTh18upport th8 teachiro of the Convenknon. IA 2024 w8 publishbd Fd Vor Iht J(xrfry, 8 368Y devotional by numerous Speakers and Lrfe after Lifè- our Convènllon therne book- by Mark Wnel. Wè hav8 also produced downloadab DI Deeper 51udyguidos lo aKI indNHJual and gr¢wpsludy0fC¥On1In t81ks. In 2025 w8 publish8d'K8swick Minislriès. 150 8(8 of Lives Transfoffrd In Christ. a"cofl88-t8148' cebbf81es Gcd's faithlulne5S lo th8 ministry 8nd th8 failhfulness of his p80ple. For th8 first time we 81so wjuced a bLX)k for ywng Pe£¥, 'Who is (&xl?' by Andy Acheson, who18ads Ihe Team In Week 1 of Coivenbon. We COnnUe to mako Dive Deeper study gutdes ayalble or4in for grtyJps and indi¥iduth. Our regular podca515- Ke5wKk Podcasl arKJ Ke5 Ta5- ¢¢)ntknA to be popu18r. vAlh record accessed.. they call bB ¢&9$¢d au w. MINISTRY EVENTS As part ollh8 extension olthe [ty. ourMkn&tyaverts aTrJ Irk81K5 w from strwyth lo stronglh. Th have run In each ol the last nlne adeC y8WS. Nov8mtr 2024 88W the 18unch of Keswkk Erg1W Young Le•JeTr progr4. This %v85 a wonderful opporlunily for 118 yeèr-obJ$ to198m rA)w to und8rst8nd and teach the Bib thrwgh Iralning weekends. folkWd by 8n oprb)rtunily to be..le8m. at Ihe Convention. A second coh)rt rneet in Novembgr 2025 and again in March 2026 ahad ol seMrvJ al the 2026 CVentIOn. The focus ol the Minislry tsvenls i on lehlrJ Ih)I hews rfresh. Insre 8nd equlp Chrlstkqn$, both church rrombers and thse in leadwship po1. The wurses ore doVok)pfjd by the Chknf Execulh8 and often In cc4L9LNalkfi wlth olher Chil811 OTgaThsBlb)ni l The fjver-popular Pa8tor81 RerrnshrsI Confererta Vd in conjunctknn ?Ih Living Le8dershlp. In Febru8fy 2025 we again ran PRC'S back-ttrbw to %8888 CBPgaty. and were ab to accornrnod8le over 100 peopte, demon$lrotlng the Treed for Ihose Irs ¢urth aderShiP land Iheir spouse81 to b8 relre8W for 58rvice Ihe kx81 church. The February 2026 PRC was 8150 wdl atteTr. wlh wn b8th-108ck as in th8 pr8¥lous three yesr8. We F8unthed 8 Churche5 Weekend Aw8y kn 223. to 8lk)w smaM8T fdbwship5 who mkjhl nol be able to Ofvan 8n 8V8nt ofiheir rMn10 sre wlh olhws. Ke8wKk Nkni5tries wovided Bi8 Teaching and worship. Tho fir$1 ev¢nl held In Sprlng 2023 atlracled more Ihan 200 peop Ilom 4 churche5. A second Church89 Weekend Aw8y ¥¥8$ W March 2025 and attended by 100 aduNs 8nd chthjien. In 2026 we expanded the Churches WeokeNJ Away to wethme indfvkthJ81 booklngs from lamllle8, and renarned il Ihe Keswkk WeekerKI. TunnirwJ fTom Ffiday to Mmday 13" April. The progr8mm8 irduded Bible R88ding5. a full chAdron$ prooraff¥ne lor4.18'$. •¢thx•ofsomlrw Ir8(as, w 8llqg$ollem(th cowl. and 8Y8nirYJ cetebrations. As word spreads Ihe wjrses Bnd wortshJps are allrxliry irKreasing nuneT¥ ol dolggales. mony orw)M have had no prewJs coMeclh)n with us. Som8 cou15es are 51aFDny tQ"5el out". Feedbad( from deleggle$ Is oventhelmingly posilfve. with rnany people relurning WI courses are tyoin 8rKF re¢omft*nding them to oiher8. Our Chf Executp¥e tru$iees are reviwn9 what we 0lFer th a view to m81nl8lning hiph qu81Ity, addressiThJ key low, developirMJ Ihe prograrnTh of trainww l£¥ kK15 and y¢)ulh wwk. and slretGhl the team too Ihinty.
THE KESWICK FELLOWSHIP Minl 'Késwick' even15 are held all over Ihe counlry as part of the Kes%xk F8hip. Auoss Ihe UK there are nearly 40 IwalK)ns thre Bible Weeks ( kKAI 'Kswk' events arè taXI place. Sorne identity themselves by name Keswck. aTh1othe 8r8 in f8llo%vship with lh6 widèr work tAJl usè olher lit5 Iwhelher &'Ne Weeks. Convgnlw. w other de8ignats"thisl. Thay hav• a laftwly-liken8S8 tJt haw no formal or legal as01K. A number ol these evenLs have been lor m8ny y88rs. whllsl olhers are lust $18Fling up. They ar8 8omUmes 1(Kal even15 base(l in a and SOry195 Ihey are mre 18gKffjal in n8ture. The conneclion beiween Ihtr UK local liegk>nal evenls and KeswKk MInI51rS 15 inlorrnal 8o¢J occasKinal, Shaped by8 mutually a9r8ed m8morandum ol dland1Tha. arnl ha8 olt•n very fffuilful _ especilY in exGharvJing pray news, sharirvJ speakars, h8w.ng on8 arv)Lherwilh b1 KSpa5. afKI so on. Thtr Ke5%G Fdlow5hip operates 1hrix)uI Ihe UK as a nalH)nal nehvork lo trOlage the leaders ol Bi0 Convenllon$ and kKal Ke$wkk evonls Ihr(wh prayer. practal supwri and fello%hip. There is a150 8n Intemalwjnal Kes%k Fdlowshp whKh is 8 ktyjw assooalkn 8tW, 8nd whkh emtraca$ even in parts of Europe. As, North Arneiica. Auslralia. Africa and Iha Caribb80n. We faciliiat8 informal moelSng$ of ihtw knodiNJ Fdlowships at the c¥6.£. We IK)sled a galherlThJ of UK and InlemaiK)nal KeswkS al the 2025 Convenlbn, 9$ Part of our 15 annlvorsory GolebrBLbn5. and ine ty ryesenlalfves Irom Ernind the worla. GIVING AND INCOME Uniquely ther8 continues to be rn charge to altend Ih? Corwenth)n. We want lo b& on 10 all p6opl8 jusl as churches acro55 Ihe land open lo everyoM. We encourage gwing ai th8 evonl and Ihr(MJghoul Ihtr year. Durlng Ihe Convenlion. aThJ Ihrough wln18d and on-line resou. wa exF48th th8 finance$ of the event and our ye8F-rounrJ mlsIry. We are hug8ly gral¥fyl 10 ho¥¢ bbg$sed by gowrm ar souifidal gl¥iThJ from our supporters. The flal 518nding areas al Ihe R8wTrsley ¢enlr8 and th¢ lrymer Pon¢il Sitfj ore used lo provlde G8r parklng 5P8ceg for visllus to Ihe town. Thls has become an wnporiafil s¢)urce of 1Cne for u5, KoswiGk minisl150Wns Iheenlire shBiecapiial ofKeswKk ConvenlJn pre¢l$ IRown8lByl Limiied. • iradlng cornpany Ihal operales Iheye Caf pfirkkng 18cl1$. We have also provid1 fwr •l•¢triG VohKIo ¢hargiTvJ poinlg al Sklddaw Street. When Keswick Ministrie5 8cquirod the PerKil site Ihis irK4uded a trkIg t1 hous88 Ihe K88wkk P8ncll Mu$¢um wlw WJir¥J compwy tfj8se5 Ihal budding from us. The directors pwmil a bookshop to oper8le durirrfJ Ihe Con¥enlK)n $8Nhva Chri11on Illtrafft Ihol ollgn wllh our values and belfs. Thrd pro¥tile8 8 Swrce of incum. nomKwl foyth 9Tr roceived from the $alB or recdingS and br¥Jks. The company gWr the wlire Share of KeswTck Convenlhjn Pr4ecl Limlled, a company Ihal 0rates low-cosl camp511e nearby tlurirw Ihe c¥01#_ (arnp wa5 lully tthked in 20 covered its c0518. nolwilhslanding the need lo tatiker oifwaslvrtater lo Wanning re51riclw)ns. ACHIEVÉMENTS, PERFORAIANCE AND FUTURE PLANS KEY PERFORMANCE INDICATORS.. Fina181.. Ordinarily we aim lo cover annual running costs each y8ar. In 2024 we budgeled lor a MInal surplu& and IhrDugh the genewty of our suptx>rters aryl wlh goxxy 51ewardship a¢hVed a six-fwjure suruS (before Ihe charge foi deprecialionl. For 2025 we budgeled and achieved a suruS before deprecialion- of some swnifkaTrl irKreases wi rA)5ts- a nutrthr of fxdili&s ieL4led"sp8od projecls. coY8r8d by Ihe 2024 sUru&.
The Convtntton thntinuBS tts a¢¢Nity. arwj il receive5 very 1th'¥e feedback in tsrm5 of the qualily of the mlnlstry and Ihe IM It has had on peop. liv85. twl Lwirnilments lo Christ and offws to SoNe In Ihe mksw field. The excellent programme Ofyear0Und iaknd aThl trainiw 8V8nt8 18 akn b8iw wdl alletd and receivirrfj very 've feedback. G¥ relalk)ns th both Ihe k1 widerchristian nnitY. have been buirton. with senyy Momr5 of the stsff team eNJagity I01y. W¢ havts also wntrnued our engagerp4nl wllh the IDcwI cofflrnunily. including ¢J¢Jr gu8rlerty Town Lk81S Forum th rtMr$ tsf ¢otnmunity, town Gouncilk>r5, trJsin888es 8nd Sta11Y ag8ncies. Uae of th& excfit fa(aliti8$ in P8ril Fory 9150 boon o great means by which w8 have trJlt on 8nd 8trerKJlhwd r8lalk)nshy$. Keswkk Min15tries pwlnws wilh thfferenl chrYalk orggnwlbn8 to tske kn¥wd118 obiedves. S11an¢ sile and buIng x)rs have beon und8rtak8n on the P8ncll Factory siie. and relulShrn8n1 ol the former Perrl Factory tKJilding i$ 055eThtsa compknts. In 2025 work in the'Admin Bhxk" has provhled a now homo oltho KM staff team, and onhwcod facilities avaiLgble 8t Conven1K, and for yeBr-round hlrws ol the Packing Hall. RISK MANAGEMENT The Tru$¢e rogularty rQWth6 rfsk$ to whkh th&tharlty L8 exwJ5ed. so Ihal reasonable m888ure5 ar818k8n to rfjduGe anfl manage ITr to obtaln insura8 cover %there Ihts 15 finCIalty Send8. A rlsk 18vlew prt)codure Is In place to klentify the most signifKanl risks. and Iha Tnt51ee5 check that 8pwopri8t8 remedlal action has been taken. A Risk managenI framework was pul In plxe adopTra best practlc8 from Mazafs Charlly C(ference and guidance from Ihe Chwity C0mft¥vdn. Som8 char8 were made lo the way wg Score and record rlsks dwing 2024 adopt1 best prac4icÈ. Fn9 Ihe appolnlmenl of Mik8 Caus&y lo th8 rd8 of Oireclor of Busifftss OpwallrS, further ch8rvJ8$ trj the way rewler 1$ ¢orTh)iled, reporltrd and managed have been worw through, wth hdplul Mipul Irom ¢xJi in5uwrs' Eolosla$ Ente¥piise Risk M8n8gement Toam. We ore advised c Heatth anLI Safety Issues by an extemBI contractw. The Rlsk Reglstw 55 8n agend8 ttem 81 811 Iw$tse lth a Gatw of rhk w t) r0vbl al vach me•llng, Such Ihal everylhltW31s covered each yew. Keswlck Minlslde8 tske safeguwdlThJ s8Sty. We arg c¥mThtted to the safegu81ry of chlklren and adult wllh c8re and support r•eds and to 8nsurlThJ th81r wellboltyj. We have a Iru$teo4¢ad on sgfoguardlng,. with o member$ of the $¢att team appointed as Safeguardity Lowj ar¥J Deputy. hHve uThJert4ken a revlew of ow Safegv8rdlng Poh'¢y aThl procedures gukled by ChrisllBn Safeguarnllng Services. E4earning rrrf)dules have been developgd lor slaft. KKIS and Yw¢h l&w. arKJ otr key rokn. Saleguarding 1$ an agenda ilom 81 all Iru$te¢ me8llng5. Trustee SalegLwding tratsvJ was und8rtaken In June 2025. 8nd itrepoated on a Ihree- year cyde. Trustees. $taff ond Volunteers 8re Irtslwded In Ihe rlsk mon•Jement kKes that are approprte lo the work thai Ih¥y undgrtako. Monlhly c8lls have conlknt lth rn8mberB of the Fkn88 and General Purpow Commlll88 an(1 st8ff team, to review our managernenl accounts.. KPI'8.' agree expenditu pLgns h.nked lo cash flow. and trj managt If Risk Register. Local publk reLgIKj b8ugs lakgn 8wbu4y. r¢9ul8r tonsultativg meetiw$ we llLI Yllh repies8ntatrve across the town. Thrwgh thjr Town ForuTh. meet th t515505. Keswick Town CounGiNor5 and ofiK4HI agendes represenlabve5 on a quartety b85. We continue lo review ettyjr key Oioes and share them *ith the staff team via Jr [r)n[hty fvll momlng team meetings. The follo¥thng have b8en ljenbfied as Ih8 rnain ar8as of rfsk..
Flnanclal.. FundFai4ing.' The r¢sk ol raBir¥J Insuff1 funds lo covar Ihe eaS1rj aTrnu81 NnnirvJ costs, whth mltigaled by a very swpwl base. Th)n-dorw stream5. adeouate reserves. ligm managern9nl of experKJiluie and the prowsw)n and rev ol nnIhIY management accounts. The Oerwenl Praigcl fvndrai51ng %vas CSed 31 the end of 2023 hwng raised the £8m fundraising largel from support8rs. Al the end of the year. vle had £750k ol Hbtsresl free kjans to repay. ¥Yilh 1300k havir¥J b88n iepaid In Decornr 2025. Th6 £750k Is due lo b8 r?pald by Jun9 2027. We hav8 also &xploreO br0¥¥ing opt$ wth King 88nk lo give vs fi8111Y givan the nature of wr ca5hflow. with signifan1 tyJigoirvJs ahead olgi¥w4 al Convention. Or9anlsatlonal Reswrelng. Skllls and Knowledge.. The miriislry relies on a broad range of skim5 and a15 to Its aGtivilles arxl. In parflcular. th annual Convent. The ryHlli51ry is well sewl by ils slaff le3m.' by its Tr1985 who bring a broad mlx ol th8obal and tMtslne¥¥ kn¢)wWe ex[ce." by af volunleer5. PoIr. piocesses, and procèdures are malntained aNI ro¥¢d. A number ol chang85 in Ihe core t8am w88onl ch8118nge8 ar cpportunllles that are Ing worked Ihiovgh with a view to ensurirrfJ Ihal we have Ihe light team In F4ace lo deliver Ihe ministry Ihe Lord h88 $0 ¢are1 led and used o¥ei so many yeais. Dur+ng 2025 a nurthr of 51aff rfj 4pkK>1ed plIk)n$ to fill Yr>, to glve capac to d81ivw yew-round mini8lry. &rKJ IhB faolW Ihal we have lor h0. Th8 current Ihinklng 1$ that our unlque portldKJ ol$lle$ 1$ 60lrJ lo bo groleful for and io oplirni$e support of the mlnl$lry. 0¥ lkne Ihl$ 11 inwlm8nl ontl onOIng m3nagemeDI and rnalrstengnce. STRUCTURE. GOVERNANCE AND MANAGEMENT The K88wick ConvnlR)n Tru$¢ 1$ boih a CLNnpany limitfjd tsy guafanioe, not having a sharo capital. and a regislered chanly.. il wa$ Iworated as a (xxnpany on 1 Sepiember 2001 when th a$$ets a1 lia1165 of Ih8 lorm8r liusl were Ironglorred lo LXYTVOny Under Ihe Tru81088(S dlrector$ 818 krmxn as Trustees. The CoL#icll 01magern1 conslsls of Ihg Tru$l who meel IhTee Ilmes a ye81. rYmalty cl(lI¥j an 0¥8mlghl meellw. to mana98 the T1. Tru$tse8 $er for a 18rm of Ihfee years., 8re re-declable for 8 maxlmvm ora furlher three lern lor Ifdgemed ne¢gs$8ry for further Ihree-year18rml', and m8y rernn in oife unlll age 75 ye81S. New Trustse$ are apwnled in accordwce wilh Ihe Chwily'5 MefflwwwJ ar¥J Artldes of Assoclalknn. The Councll regulaily revw5 Ihe skills mix required lo manage thu Charity and successoTh bas8d on th nown reliremenl doles ol Trustees. In January 2025 reuuilmenl consullanis calIaTr faditaled 8 ttyjard eff8cINeness' dlscussk)n Io 8$81$l the board I liuslees ren8cI on Ir prKJrSlles. Trustee¥ affj iequlrBd lo lokn an iTrJuctkn pr(S whtkn consis1$ olbdng trjUced lo Ihe operalk of IhE Tr51, normaly attendirKJ one Cwnul nwling bel being l(Krnally aPkK)inled. 6nd are ollered appropriate feim81 Irainlry In I11r re5pw5lbrfilS. A prffe55 01"Induclth' arKI"buddwng at Convention has een introduc?d newly app[19 Iruslees. Trust$ wK1ort1 a Salvguaryliry lor Truslg9$ Gour5e with Christian Sa18guarding Services. June 2024. A procedure for Tiuslee apprHbal is in place WKI during the nnjl year of Ihrefryear ierrn or appointmenl. Mark Elli5 lo1 the team as Ihe new Ministry Dwector I CEO kn Seplemtw 2023. Mike Caus8y loln8d the team In the new ro of Director of Buyness Opwakns in ju 2024. l&mon Overend. the Company Secretary reFMxts to Mike.) The 51air team tneel daily lor de¥olb)n5 aTrJ have a rnnthly hal-day staff m881ing whh Iud•S 8 time of BMTrle Ipachkng anL¢ prayer.
Wbth the COMptFc of Ih8 IMJlkllThJ elwwl ol Ihè D8rwl Proj. the trttse$ and Chw Execullve have sougm to feshape Ihe staff t8am to m801 min¢sty oprKxtunill8s and related sukwt needs beforÈ us. The Chief Execuiwe and thrector of Bus$S 0rats.0nS continut to as lh8 èxwxjlivè, sUppted by thr88 heads of. who logelher make up the Leade¥ship Team. Simon Overend i8 HÈad of FInar,. Emma Coopel continues lo be lh8 H8ad ol MinLslry Op8ralKJns,' Sarah 8OtOn1ed the team In February 2025 in the new post of Head ol Develcyrnenl. overseeir#J Comrlyjnons and fvndrasrbg. In January and Aprl 2024 ma Els Ich1 Execulfv618hèr8d hi% [nIal reflectims and thoUts on luhJr8 shap8 of th8 ministry and Its year-round lgachlng and Iralnlffj prOYrarn. In January 2025 MfjTk shared N$ Vlsk)Th 2030 paper with trust868 with a to d6vdwng 8 fi¥e.ywai nw to optimlse Km's unique P0511ion ar opportunllles lthln the relormed ev8ng8lkal churc- uThJer the Lord s leadlng Bnd guhllThJ. Thwe 8r8 mBln MMi11e&S ¥hl¢h supwjrt Ihe Coun¢il." Il Mlnotry Commillge. ¢knBld by the th#lrmBn oflhe charity. whrth is reSpOnkn for the sF4rilual de¥•k)pnI of Iho minlslry. and th8 FInae and Goneral Purpos8s Commlttoe, (awod by Iho Tr00$W0r. whk 1$ r8spThb1140 for 151955 pra¢li¢al d8v8lopm8nl. Tho Irvsieos aro grateful lo Jeremy hBs $8ryed a5 Chal0 lor th8fve yew8. Jeremy accepled an invilaliJn to kfj up Ihe rolB ol Lezd Pa51or al Grandview Bapts'sl Churth, Kiichoner, Ontwio. Jeremy. and EllzabBth. %ho h85 seryed on the slaff team as ow Commi5sJnwy Edmor, nved in the autumn of 2025. We sh Jeremy and Ihe farnily 11 in Ihis xI chaplerol their servK8 of th8 Lord. Martkn Salter, Itho has 58N8d 5 8 IFu518e slnce 2017, Icok up the rde of chalirnan after Ihe 2025 Convenllon. L¢¢81 ErrtJ8gemen¢ Wo 8re ¢omTrNtted lo the btrneflts oltr Convontk>n aThY I DeTh¥enl PrGI 8180 Ih)wlNJ through lo tho to of K$s¥Ck. We wonl Ke5wkk Mlnl$trkns and Its operakn to be a sajrce of prjde and beneni b¢8lly. Thls is sUPWrted by our TO1 LiaLryon Forum. g al 8owclng Oky. and the promollon of P£ul busines585. We have allended £uaS)nl Keswl Town CourK41. Ke$W Touiism Ass13110n, and Curnbriq Chamber of ComffCe rneelwvJs by in¥italion, and pvorTr)te an open diah>aue with bxal stakeje1$. Irnlependence of Trusteo$'. Tho broath and indep8ThJen¢• oll1 nnlry ts a key Streryth ar¥J 1$ maInned by a proc of regul4r revlew ol the needs 8nd open discu1)n ol who mvJhl servo and complement the t8Bm. Tha trusl8es are actwety al who MVJM be irNi18d tok4n them, infrned by 8 skills audit and mindlul of pending relknements over the next few yeats 08 SO 10.81and1rQ InJs¢e•8 compl?iÈ IhdF temi of service. In January 2024, wllh a gorx1 staff t8am In pl¥, Ihe tnJ$le8s determtned ihal tholr mlnlmum numb81 Shou red¥¢¥ Ir<Nn 1010 8. As menlkjned w0vK)u$ly, in January 2025 recfuilnwnl ¢Dnsu1ntS Carndlan laGiblaied a "tx)ard effediverws- ths¢ussK)n 10 aSW51 the lrnI I Iru$lees refle¢1 on Iheir Repulalknn.. Are8s of repulalk7Tr81 rSsks Include- mIntry, [rBIty, heatth and safely, safeguardlng, company and charity compli8. We are well servthl by Ihe FinarKe aN1 General Pury)0sos Commlttee. where we have financt, accounUThJ. at¥J gaI txperbst, 8nd by trjr professthal ad%015. We also $ubscrfbe relevant P1(%110ns, and lo Compan188 House and Charty ema4 updates. 2025 was cur 1W annfvw88ry and we saw record Nrnb818 at conventTr notsvilhslanding the halnge of most schrM)Is in England nol breaking up unlrf Week 2. AS mentioned 8bovfr we publi8hed 'Keswick Minislries.. 150 years of Lives Tran¥lorm8d in Chrisl. a whKti celebr8tes God5 failhlvlTress lo the ministry and the fpthlulne55 of hr8 p8opkn. The CoutKII 8t slaif rnn ¢onwnltted lo sust8NlW the dew rtxxty of Il 0ryjnbat Its PritnBry chalilable objeclN¢5, whilsi also seeking to pul in plt the foundations for Ihe fvlurg ttevdopmenl of the mknlsliy under the Lovd's 8ding. Our ¥ae$ use Ihe mnemtrnis CHRIST- CotnmltmEnt, Humllily, RespeG¢ Inlegrily. Sleward8hip Te8mwork. wilh the o¥eNidirwJ call to Chr4sller•$. The Missionaty Hospllalty Furvj suprtS IIE(x)5t ofoltendance olrnissr8t tho annu CventI)n 8r¥J also the ¢0$15 Qllhose allending 4)ther Ke5%*xk Mini5 rr¥55K)n Yelaled 8ctsTrth.
C3011dat8d financial slalements have Th)t b88n twared grfAM¥ts that Ih8 resulls of the 5ubskli8ry und8rtakwy not be malwial lo Ihe gyoup slatem8nts. FINANCIAL REVIEW •ngral The Trust8es' finansial obiectwes we knfd.. To raise S1CnI lunds to the olthe Tw6t's wrenl xlryii5 and io devdop n8w acibvilies. The Incomt ol K•swck Mlnistri¢s corbw Irtyn ¥01#ry thOlk)n$ made by Ilw¥ wk¢ supporl 8nd 8116nd Ih8 Con¥8nllon 8ThJ oui year-rouNJ mlnl$try. orNI 11$ finnGl vlotyllty 1$ deptrndanl on Ihls. Once agaln, we 818 grateful to God for the flnanaal provl$ion ) yeaf UtKlgr revlow, lo Ihe many Ihousands whj have c8ughl the vlskn for Ihe of lh8 Tr4rslslry and hav• gi¥8n so 98n8rously towards11. Summjry ol Flnanclal Posltlon The financial iesulls are sel oul In the Slot¥mgnl ol Flnancial on poge 17. The G8neral Fund had Incom8 lor the year 01 £3.070,510 tompoftd with 12,480.987 in 2024. an incre8&e ol 24%. Expendlluie, al £3.135,932 wa$ $0Th 25% Ihan in 20241£2.505.6501. Token i(vJèlher, 2025 produ¢od a n91 deficll 01 £65,422 on th Goneral Fund wmpared wilh è nel defiol ¢)1 £24.663 In the prevlous year. The d8ficil includ8S 8 dePredatn charge or £204.107. 15 a I¢8$h i*m Ihal lrtludes the amofli$ollon ol Ihe reluknish6d Penc4 Fadory. We Jre very Ihanklvl Ihal givlng lo the G8ner81 Fund ho8 up well In whal has been 8nolhtt year of gr¥al un¢ertiWiy. Co$i$. portKularty in the olea8 of lechnk•l Support and volunteer 8ccomnkx18lKJn. have risen Quite b5tlIalty. Th8 Mlssionwy Howtallly FuTrJ (Restted> ha8 fvjl W 8n ap01 ry $pe¢lo1 offgrlrva since iha launch of Ihe Oerwenl Proiecl in 2015. Income I Ihls lund was £S5.70S tho yeor wnpared vAlh £30.239 in 2024,. lh8 baLqnceon th18 Fund Is n¥ E25.811 Isee Mle 1S). This furK1 enal)1o$ missK)nwie$ to 8118nd, ben8fil from, lh8 Convènllon olherwise W1n't bt OtAe to $0. In Z025 luThJs were al$0 given 8nd used trj 81JPPOrt 8n inleinalional galh8riNJ ol repr&sonl8live$ Irtym ov0rs¢a5 "KoswKk$" 4Juring Ihe 1 Anniver8ary ConveniKJn. Th8 Reslricled Funds balance al Ih? year-end. ol E140,811. relabr¥J io th8 Mi88bnary HospIt8Nly Fund, Bulldlng Fun¢J and the Web¥ile & W Fund. Toial Income lieslrkted 8nd unrestrthdl amouni&d 10 £3.126.275 ¢ompored lo A pre¥kn year's lolal of E2,843,330. Ajter deduckng expendiluie. ng1 defiGil ft>r Ihe year was £62.52312024 5uipIus £57,0521. Once agah. the Trusiees are Ihankful for lh8 eonijnuiw numbers supportiThJ th8 minislry, and for Ihelr genlY h both prayw and glving. DONATIONS AND LEGACIES The aclivi1188 ol Ihe charity 8re fiTharted 8lrtlJ8t enlirely by VontSry glfts 1hrO1 th8 year. offedngs laken duriThJ Convenlion an<t legac. Legaci88 of £56.971 12024- £32.1161 were recognised during the year. W8 graiefully ack Ih? many unrecded gifts of tim and oxpertise gNèn by so many during the course of the year, 1ul whKh operab"r¥J costs would be substantially 9realar. FUNDRAISINO Keswick MIn$trieS is lortunale in having a large aTrJ knyal ba88 have SWPOrted the charity for many yws. and %Yho gNe generousty in supw)rt of our fina1 n8eds. We have worked wilh des¥n agencies to woduce ¢walrty campavjn matenal. and are regislered with the Fundraising Regulalor COrnyIry wilh Iheir staTrJards. In add¥n. w8 have Trustees. and a mini51er-al-lafge. 10
who b a formr Ivu51ee 1h expervK8. Th95e orea5 are overseen by wr Head ol DeVekYnl. Hon TrUr and thè Finarte & Gernral Purposes Cornmiuee of Ihe Counul. We are worklng th 8 Chrislkqn age[Y who t81981 trustfunrts to do muth Ollhe behI1-th&-snèS ¥[k l( us. wh1151 we maintain the relalionshlp bulldirrfJ. We tsk& a r•sp)nslbJè approoth to seeklng hJnd$ foTr I PfOle¢1 ol all oui Svptxtsr6. indudiry IIx)5fy my be (knId vulngrabl?. Any 100db& w ow lurKkai$rnJ al a 58rKY1gvd. RESERVES POUCY In at1dlU to the Desagnatetl Reservgs Sel out in Nole 16. direclor5 have 8gr8ed 8 General ReEerYes pollcy designed to Thel reoulred thl of workkw caplbl thts cydkal nalure of cash flow.. General Reserve$ of f400.000 10 £600.000 are consKlere(l appropriate. A5 sh Ihe General Reserwes of £402.243 12024- £495,2821 am ¢onsiderod lo bb adwLtale. The Designated Fixed Assels represenl the vahje th8f801. 198$ o kJ•) from a supprytlve ¢horlty, on IBvwable term¥. REMUNERATION POUCY The pay ol the 58nior staff18 58150 88 to be f8 In the IvJhl of wevaikng ral88 kn other Chrl$llon dw4ts8, 8Th th8 k)c81ily. and to ensure ih8t th8 right GglJre ol p8orA& b8 recrtjited lo rolvs. A bench-morfflng exerelse h8s b88n undertaken. r8sulliThJ In Ihe e$l•Ni$hrtrt of IDur salary band5. Th• Tiustoos rev $alarb8 8nnually 8ntl u$vly meke a Costl-1¥j lo an slall. Tot41 pay and bun•f+ts In the yo was £63Q,42612024- £521,7861, an 0121% tw)10 71. TANGIBLE FIXED ASSETS The as5els and relalad dep¥•oalion. irKluding rates of depreckqiTh we $8lout In Not•8 18nd 8. PUBLIC BENEFIT The Tru$lg8s have¢(der th8 bw)OfftguwJw4 l•sued by Ihe Chlrity CoTMits8kn1¢)gelkwwlth tho Bvpplemental guldaw on th8 appAicaiion of Ihe puNic bfjnefil le5110 charitses whoye aims indude adYsncirrfJ 11oion, The Trustses ale owore of Ihesr legal duly lo Iwve regard to Ihe publk benefit guklanc8 and lo report on this ¢h8rity'$ tomkar with Ihg pthic b8nefrt oblvJalh)n. Th8 phy$k81 and spiritual relreshmoni 9oinety by Ih)s• 8ttend Ihe CVeI)n providos 8 direct publ ben8fit by the deffjenlry of Ihe $pirilual hle of tho It1klU4I$ and, Ihrcugh Ihe IndIU815. Iheir chufth ¢ommunllles IhTough te chur( cornnx1nil. Ilwder ¢omTnuniDe5 in Ythkh the churches 8re sel. In 2025, as wlh pr4vhS yoars. somo oltts's tenefil w4s achi8¥ed through haviry Iho Conventn 8val18b <- Ilne. as w911 through Ihe physKal ovenL Ihe line Markl b8iTrJ accossed by many IhouBand& of peoe from all over Ihe worfd. The88 bet$ are relaled to the alms of the aNI ¢he Trustee5 we GY)rwws ol the need. ¥0 far 88 Ih8y are alA8, to barth Ihe Ilslvery of Iho bwefits ogain$l any rx)ssth deknmwt or harm. Since the main ConvenIn event L8 open to Ih? pubk and no charge is made for attendanc8 at the oveFwhelffling majority ol the programrne. ¢here is the wthst pos519 rexh from the charity's acliwti88. Be¢ause th is no fee. Ih05e poverty are rnl exdwjed frorD the opportllY lo benefit 88 they can attend Ihe Meelillgs al no tharge. Th8 fru51ees are of the n8ed to 8n8ure Ihal any privat8 nefitS ar8 only incidental. The wolk of Ihe charity 1hrh Ihe year kn offerfjng a&sl8r and 9ubJanc to Conv&nYons and meetings 8Is85th8r8 has the eifect of 8pre11 Ihe pufkn b8[118Ven der.
INVESTPIENT POLICY The director5 have tK)wer5 10 inve515ulu5 fund5 in inveslmen15. securitie5 and properfies as they think fil. subject b the pravisions of any relevant legi51alion Property inveslmenl rnay be for Ihe dual purp05eof active use by Ihe chaNily and approprlale lelling for pen5 nol required for direcl chari13ble purposes. Durlng the year the Truslees have considered Ihe InvesimEnlFM)llc. especiallyln Ihe Ilghlol Ihe Interesl rates belng paid. Given the aclwt consid&ialion Ihal is bwng given lo Ihe liming of som of Ihe maioi cosls noted in this report. surplus funds are Invesled in a mix of Term and Inslanl Access bank deposits. Social. environmen181 and ethical conseratn5 are consi(lered in selectsng the banks al an appropriate level of risk. Liquid lunds are invested with a view lo maintaining Ih•i value. pending planned 8XP8ndilur8 in the short lo medium lefm. The Iruslee5 considw the performance of these in¥eslrnenis lo be salisfaclory. DIRECTORS. RESPONSI8ILITIES Company law requiies Ihe direciors lo prepare accounts lor 8ach fin8ncial ye81 which glve a Ifue 8nd 181f view of Ihe slate ol aflairs ol Ihe company and ol Ihe profil u lossol the ccmpaThy Ihal year. In prep8ring Ihose accounts. the directus are lequired lo.. select sullable accoun14ng wtkle5 and Ihen apply Ihem CStenNy- ake ludgemfjnls eslimales that are #SOnable arm1 pwdent.. slate whether applicable 8cwJnling standards h9 b88n Idltyved. subJ'8cI to any maiw181 deparluF88 disclosed and explained in the financ181 s181emenls'. prepare Ihe nnancial slalemen15 on Ihewng conc8rn ba515. unless1115 Inappropriate Io w95ume Ihal Ihe company wlll continue In business. The dlreclors a responslt4e keeping KOPW a¢¢ounUng recuds %hl¢h dls¢lose wllh reasonable accuracy 01 arty Ilm Ihe Iln8Nclal posllkjn ol Ihè tompany and lo énabltr IhÉm lo ènsurè Ihai Ihe accounts Comply wllh Ihe Companles Act 2006. They are èlso reSr*xsIe lor safeguaidlng lh8 assets ol the company 8nd hence lor laklng reasonable steps lor the pre¥8nlh)n and detecIn of Ir8ud and olhw Irr&gularlll8S. The dlreclor5 a150 confirm Ihal as fai 8s we aware Ihere Is r¥) re¥81 sudll Informgllon of whlch the charlly'saudllorsare unaware and they have iaken all sleps that ihey ght lo h8ve taken 8sdireclors in order lo make Ihemsefves awaie of any ielevanl audil infomialion and io es18bllsh Ihal the comp8ny's auditors ale aware of that InlLYma1lL. In preparlng this reFKJrt the trustees ha¥È t8ken adV8n1a of Ihe SMBI cOrrynY exempllons wovlded by se¢lion 415Aol Ihe Companies Acl 2CKffj. 8y der olthe DIrec8 Steve Adaw ITre95urwl Oate.. 21 July 2026 12
Independent auditor's report to the members of Keswlck Convention Trust Oplnlon We have audlled the financkql slalem8nt5 of KesWk CoThventkn Trust Ilhe charty'l for the y88r anded 31 Decernber202SwhKh comprise Stoteffenlof FinanoalAcbvi1S. 8alarKe Sheel. Slatementof C85hflowsand nol&s to the fala1 $latoment8. irtludO a summary of SnrfntxXjunliIvj The financLg1 reportSNa fr8m8bvork Ihal has been apFled In Ihek preparalThi is apP1Kab IBW 8nd Unlled Klngdom Accounling Slandards. induding FRS 102 1he Finar181 Reporting SI8jd applicai4e in the UK Repuuk of Ireland" Iunilfjd Kitvfvii Gonw01ty ALxepted Alxwnltsva Prtt•l. ID our up1nn. the financial sta¢em¢nts". glve h fair vlow of th& Itato of Iho ¢thV$ all$88 al 31 20Z5 gnd of118 8nd empendlturg lor the year then ended.. have b88n properly propored In %1lh Unliad Generaty Acc8Ptad Anng Pracllce., 8nd have been prepared In rdar0 wllh the requlrernents olth• Corrpankn Pll 2c. BaJl• for oplnlon Wo conducted our audlt In accordaK• 1h Inl•m8kn Standa5 on AurNtSrwa IUKI IISAS IUKII And applicat4e law. Our r85ponsibilitses ur¥Jer standards aro further desulbod in Iho 'Audllor'$ reskK)n$bill1•s Iho 8udNofthe IlngrKlo1 $I818Mts.SOC1th olowrorKl. Woare IndepelnI oflh8 charity In accofdancs with the olhkal requir8m8nts Ihgl are rolevanl lo our a11{01 ihe financial Gtalem8nls in lh8 UK. IncludSng th8 FRC'$ Elhic81 Standard, Bnd hève fulfln8d 0th8r elhul re8pon8ibil.li88 In accordarWIlh these requliements. We tel8 thal the audit evh4erKe have obt8in8d N sufficnI apyoprt8te lo Pde a b8818 for our op1. Conclu8bon8 r•latSng to goEng conc•m In ¥Allkn9 the llnancial sts18ffnl8, have ttwt the tsusle8S' US8 of the gJkng CO0r ba8is ol accounlng In the preparalbn of fThKJal staterrn181 8ppropTi•te. Ba$od on Ihe work we h8ve perfomd. we h8v8 nol N1enlifwd any male¥ial uncertain8 rdèllng Io 8V8nls or condillons Ihal, indlvidually or colk8¢lfvety, may cast svJnifThnl 1%> on Ihe charitls 8bllity lo continue as 8 going 0)reM for a perh?d of 8t ka81 months from when Ih? lknancial statements are authori8ed for Issue. Oui resp)nslbiMk8 aTrJ the reSpxthb88 of the Irusi8e8 wilh rn5F*Ct to swjirva corwn are described in the relevanl Sectn5 olthkry repJl- 13
Other Infoymatlon The olh8r Infarmats wnprw5 the iTrfomwlbJn in the report. other than the financial slalemenis and our audtlor's 18PL¥t thw6on. The Irusl•&s ar• r•sp)nsible lor th8 Other 1nf0maik ¢11ale wilhln the nal report. Our ownh)n on Ih? ffiancug18lalern8nts dc Thjl cover Ihe other inform8lK)n 8nd, aXC8pI lo the 8Xt8nl 0lhoNi$e fjxplblty Slalwj In our TOWt. WO 1) r¥)t exwess any form ol assuranc• onGlusw Ihereon. Our responsibility Is to read Ihe ollw frnallon and. in doing so. consider wh8th8r th8 other Inlormalk¢n malenally Inconsislènl wh Ihè financlal slatements ¢Jr our krn%lBdge obiained in Ihe cr5e of the audit. or otherwise appears lo be materially misSt8led. Ilwe J8nbfy Such material Incor$tefiC•e8 or app818nl mat8rio1 misslat8mènts. we are required io delerTrMne whelher Ihis gives rise to a malertal rni5slalernenl in the financial slalemeThis Ihems81¥88. 11, based we have perfrynwd. Ittot Ihere b a rnalerlal mi$ststoThnt of thi5 olher inlormatKn. we are requwed to report ih81 lact. W• have nolhlng lo repjrl ITh thi& ragard. Oplnlons on oth•r matt•rs pr•scrtbgd by th• Companb•s Aet 21JOfj In our opinion, based on Ihe %4tYk undert8k8n In Ihe ctyjrse of the wjdil." Ihe In1MatM glven in IF IIu51ee5' rekxyl whh indudes directh, ¥oport the flThwdBI year for kh the finandal statements are wep81eé ts corsisl8nl with the finala1 st8tomeni8', ond Ihe dlreclor8' r8Ptrrt Inc41ty In th• tty81$. r•FUt has pr¢par4d In accordanc• llh appllcabl legal iequir8monl8. Matt•rs on whlch we are requlr¢d to report by exc•ptlon In light ol Ihe krk)wW and undeisianthng of lh& charily a1 envirtyim•il obtginod in th& ctyjrie of thè 8udil, we have Ml klenljw mg18ri•l mis$t8ltmtrnl$ in Ihg $IrOw or Ihg dirécl(K$' rfjporl. We h8ve N)Ihing to reky)rt in respect ol the folkwn9 matters In relatw)Th lo whith the CoThynies Act 20C6 requires w io reFQrt to yrw rf, In Wnk)n.' adequate acctsuniing re¢(wd$ have nol been kepl. ty retuFrrfJ 4dequate ft>r audil have not been received from br8nches not $rted by ug." or Ihe financial slalemenls are rM)t in ogr88m8nl1h lh• arxounllw rOrdS and relum$,' cert8in di8ch)8wes ol tru$lees' ftmali0n $p•Jfied by * are mode," or Wg havo nol received all Ihe lOrmalk1Tr and expLqn8tK)ns faquire for our audlt., or the Iruslees were Th)1 enlilled lo prepare Ihe financial stalem8nt8 kn accordarKe with ihe small companleB reglFne and lake advanlaw of Ihe small cofflpanies. exernptKn prepar¢ng Ihe Report ol the Trustee5 and from the requInt trj wepw8 a Str81egic R8FKKt. 14
Rg8ponslbllltlg• of Tru¥t A£ 8xplaiwd rnore fully kn tftJsle88' 81alem?nt 881 oul 12, the trvst888 8r8 responsi8 for the pr¶t¢on of th8 finarKtal stalemnls and lor 'ng satisfi8d that Ihey giv8 a true and fatr vth. and for such internal conlrd &5 th8 twslees determin8 necessary toena8 the preparation olfinandal 8tal8m8nts Ihal ar8 free from mate1 mi$$lat8mgTrt. wh81her du8 to fwj fx error. In preparing th8 finandd statsmBbts, IhB trustses are r@s)nSib for assesslng 1CharIty'S 8bS1ily tott)nllnu8 s a 9)lThJ concem, di8cknsiThJ, as appIate, mallws related to corthin aTrJ usin9 the golng concern basis of accounbng unte$s the trusts0$ 4hlr int•MI tr¥ lukJate Iho dwrtty ortOC4J8$0 operatbn8, orh8¥0 no re81isllc allernaliv¢ trMJl to do 80. Audltor's r•sponslbllltl•s lor th• audlt of th• Ilnanclal statem•nt• Our objodves are tooblain 05surwe abo whelher Ihe filla1 s18tern1$ 4$ o whole 4r0 free from malert81 miss18t8m8nt, vth8th8r due to or 6rror, 8nd to issue an 8udilu's r8port Ihal includes tyjr op)n. ReaSOn8b 888uranc8 Is a htrah levd of a5suranc8 bul is not 8 guaran168 th81 an 8udil conducled in ccordance ISA5 IUKI will aayS detect a malwial n¥sslateffl8nl when il exists. Mrsststymen15 t8n ar150 Ifaud elror 4nd we c¢Jn5iderod mate rf, indfvklually or In tho aggregale. Ihey ry)uld reasonably bo XP8cl8d to Snfluow th& e¢<At de¢B)n$ of U$gfS t8ken on Ihe bos18 ol the finonci818tat8m8nls. Th8 ext8nl lo which our VfKeduies we capab of dtrj Irwulgrll$, [rld1j fraud is d8t8118d b81ow. rrogularities. ithJdiry fraud. are ItnceS of r-COMlar8 with L8ws aNJ regulations. We dosign priteduros in Iln8 wilh our rfjsponsibHll$. wUineO abov0. to delecl maltrr mi$$l81omenl$ in m$po¢1 Of Irreoularilies, ItU1j fraud. Based on our uThknSlallTha ol charity and tts thdu$lry, we ¢on$ldied that non.¢¢)mpllon¢e th the follo¥ThJ 18w$ aTrJ mlghl hove o m8terlal gffgct on Ihg nanCl Blai8menl8'. Charfe8 Act 2011, UK tsx le91sL9kn, aThlbribery, coffupltyjn and fraud aTrJ rrKsney launderlng. To help us idonlty inslanG•s ol nonthcorWtKe WWI Ihtr$tr la and r0gulaiknn$, and kY•nlltylng and 8S8essSng the of ma18rlal mk88t&tsnwl In reswd to tyjr woceduw lTrrAuded. bul wele Dol Ilmlled to.. Inqulring ol management and. where 8Fproykqle. tho88 charged with wveinance. 98 io whether the ch&rily is in cornklkgnce wth18Ws and disng theirwlwx5 piocedure$ regardiry ¢omplbn¢i with law$ 4nd regublk)n$,' In$po¢ling c(Yr8spond6nco. ilgny. wilh rdevant or regulatory 8ulhyilie$'. Communicating Wjenlifd Lgws and rogulatk)ns to Ihe engagernenl Igam alort lo any Ind1¢aln5 of nonMp8nCO Ihr(vafxwl our awlit", aAJ Con$lderlng the of a¢ts by the ¥¢ were contr8ry app8b lowg and regidaUon$. In¢KJtllng ffaKI. We also csler8d Ihose fegulat Ihal have a direc4 effect on the weparalth of fin&ndBI 8t8lem8nt8, 8uth 8s Ihe Corry&th8 1 and Ih8 Charrt* sta[110f R8&)mm8nd8d Pr8Ctke. 15
In addilon, we gvalualed Il Iiu$toes' fflarwgern8nl'5 inLWti¥8s and Op[unI11e$ for Iraudulent m8nipu181)n ofihe finarKial sl818rnenis. inding IheiiskolmanJ8mentoverrKYeofconlrols. and delermined thai Ihè principal rt$k$ related lo w>sliry rTrHrwal r)urnal enlrEs ¢0 manipukte financ1 performance, manag8m8nl bias Ihiough I19MnIS and assumpknns in ¥nifaTrI accounting 951imalès. in particular ID relation lo revenue Qgniti)n Iwhth we p¥rwnted lo the Cut11 assertTrI, Ihe dassific8tion of income aTrJ expeNJilur8, valuat of Imi?stmenl prop8rtte5 signifKanl one-off or unusual transtkM. Our audil pr[41$ #) r8lalKJn to frnud Irthd bulwere lrnlled to.. Making erv4ulr8 of Ihe Iruslees m91 wher they had kth4edg8 of 8Ctual, suspecled or aleged Iravd.. Gainlng an uThkntandthg ol th& ctrol5 9516d to rnliwle rok5 relaled lo fraud,. Dl8cus$lng aftK>ngsl éngagèment team Ihtt rf5ks of fraud.. and Addressing Ihe risks oflr8LvJ 1th9h man8g8m•nioverrNJtrol¢lr01$ byperfomiknglourn81 enlry18sllng. There are Inherent Mrnilalvjns In the 8j11 pr¢x8dur88 descnb8d at)V8 8ThJ th8 primary roskwslbll'ly lor th8 prevenllon ond ¢lelgGllon of ®ularil5 Irr1JIng fraud rests with management. As wllh 4ny audll. Ihere remalned 8 rlsk ofnon-deleclh)n ol irregularities, 8$ Ihese may in¥dve¢thlu5K)n, forg8ry, inlentthal ¢)ml$$ion8, misrepresentalv)ns ty the overrkle of inleinBI contrds. A lurther descrlptth ol our 18sponsibrfil85 for Ihe audit ol Ih? is kled on th8 Flnanc Rgporllng CouThcil's W8b5ile al lit s. Thls d8sulplk)n forms part ol our audllor's report. U8• of th• audlt r•port Thls feport b m8d6 SOlY lo Ihe charlly's 88 a Y kn OCCOfdorth wllh Choptef 3 Df Part 16 of Ihfj Cornpanies Act 2(K16. ¢)Jr audit wuk has been urJ8rtak8n 80 Ihal we rnh1 stale lo the charlly's rrmbar5 Ihose mallers we are ieqvired lo slale to Ihem in an auditor's feprl other puipose. To the ful51 extent P8frnillfjd by ts%¥. we do rY)t accept or assume rOsFslIY to anyon8 othw than Ihe charity and th8 charlly'8 membef8 a& 8 body for cAJr di1 th, lor thls report. or for Iho OFthth5 we hovo fimod. Michael Swght Isenknf Stalulory AllIOrI for 8nd on behallof Fmis Mazars LLP Ch8rt8red Accouni8nls and Staiutory A1rtOr Sth Fkx)r 3 Wellinolon Pce Leeds LS14AP Date.. 30 July 2026 16
Statem8nt of Flnarbclal Actlvltles Ilnrludlng Ih¢omo •nd •xpendltur• account) For the year ended 31 December 2025 funds 231 Incornj and •ndoTrnt fron DonaS Iw Ch8fi18t40 Othr Ir4du 1370.092 144.LX 118.121 287.817 137.8&5 12.613 3.070.510 2.425,857 ?44,rx 118.121 287.817 137. 12.613 3,128,275 1.932.266 124,774 134.608 293.571 152,195 5,916 2,643,330 R•n and 0th6r Tot•1 55.765 exp•ndltui• #h.. I34.3 134.948 162,E4)B 11))1. $2,011 2,423,e 2.580.Z78 Yot•l 3.135.932 3.18B,¥4 N•t Id•ll¢iunn¢oh 6&4221 62,52J 57,V52 Rwmkn8lthofkn%81m•rt TrBnslqr8 beiw•w N•t nkiv•n¥nl ITr lundl 16 547.139 6115611 547.139 sso.oJ• 62,S23 37.OS2 R•con¢lllil+on ol lunth.. TOL4 luth h1 tm¥8rd Tot41 lund8 ¢•vFl•d I#Fw•v 12.gy,rm 12,341JO8 1409,22T) 140.111 12.544,8d2 12,4B2.31# 12.A87.790 12,S44,B42 The 5L818rrth ol lh• yow. I IrKQm•d expond Ovl•s kom rthl¥thJ •clMII•¥. Thv no1B$( pau?520 ID 35 k¥m wtol acwxts 17
Balance Sheet A5 at 31 DeGember 2025 Company number.. 03913741 Tolal 2025 Fixed asHIs Tafigrt) assels SlpnfjnL8 oop05¥ Totalfix•dassols 9.181.164 9.671.287 5,6S2 12,694,921 5,652 12,544,444 Cuwr•nl a•••t• 10 256.510 484,459 742.969 17SM23 953,583 1,129.4 Cash al bank and Tor8l¢wrw¥4SSthS Ll¥blllll•• Ciethlors arnounls 12 205.572 al9,8 537.397 13.232,31J 710,391 13,ZM.842 Tolal asS¢t510ss curr•n1I141l1•S Loig Teim La1 13 79).(¥YJ 7.[0? 12,482.318 12,Y4,842 Th• funth of lh• ¢hawlty. Restild Inccthe 15. 16. 17 16. 17 16. 17 140,811 11.939.265 402.243 1409.2211 12.158.787 4.282 lfveBlre fundB-Genuo1 Tot•lch•rtly lundj IZ,482.319 12.544.842 These fin8nckql stalernents have ten prepared in xcrdarKe Ihe sp8Ck91 prov¢s#Jn5 of the Compans Act 2006 relIng lo small eompans. Approved by Ihe directs$ on and signed on Iheir behaifby Sleve Adarn ITreasui8rl 21 July 2026 The nole5 on pages 10 to 35 lorm pwtofthe5e 18
Statvment of Cash Flows Ftsr tho y¥•i 31 D•¢•mb•r 2025 Cath uMd oF•iUno •ctl¥Nfj• 21 1442,3551 16J2,742J Cmh IlowT1romlnv••n1 xtfvllb•¥: Irl£resl Rents from SalÈOfgbIB fixed aawl• saofIn&knen1S Pur¢h•86crfWW fixodA8$81• lu*•d Inll pM¥hl•d by1m1•kng a¢ll¥W•¥ 14463 33.010 260.$61 1314.5851 26,7th1 13.396 2eO,1n (DreaSo) I 1469.1241 352.$6T C4Jh and c48h all 959, 1.311.802 T•l•l ¢••h andh •qufj¥•l•nts•t th• •nd ol¢h• •59,235 nolos on pAge5 20 10 35 fc¥Th partof acrAx•MS 19
Notss to th• Flnanclal Slatfrmenls For th• 81 ts 31 tl•cernber 2025 A¢fjounUng poll¢185 a. Accounllng ccvent The charity is a public be[rt entity and Ihe accounts are prepared under the hislorul co81 convention in accordanc8 wslh FRS 102. the FfjnanC RepL¥tsng Slandard applicaN• In Ihè iJK and the Repub¢ gf Ireknd. the cran15 2fTh and State1 ol Recommended Pradc8, Accounliry Rewrliry by Charitss ISORP 1021. Tho Ke5wKk convent Tru51 is a privat• cowpaThy Ilmilad by w8rw¢•• arKI 5$ Mn"profit rnang. The Kes¥Cl ConveThlkin Trust 48 irwrKxat8d in Ihe United K¥vJthm and 18gvhtered In EThJLgnd and Wale5. b. CcnsoJ8 The ¢harllls Iwo 5ubs1dbw8 are rb)t C£501bal8d on Ihe gro& ol lftmmatthallty. Gdng concam Th8 eorwny'$ ac11vil. it5 p•rfcmance ar• sel out kn Ihe Direciors. Report on pages 4 10 12. Th8 ctynpany'5 forecasls aTrJ projecthy thal ih? coryarw ghould be 8No 10 ¢)pw•l• wlth Ihe worklryJ c8pilal faoli1$ 8¥8118ble to rt. The Trusteés have g ¢ea$Wab exp8clalkn Ihol t? O)ryVony has 8d8qu8te lo conllnu8 in operation exislence for Ihe forese8abl8 luluf8. They Ihèrèfore continue to adopt Ihe yc4ng cern b8sis of xcounliThJ In prepanThJ Ihe ann financo15talarnents. Thore ar• M matsrbal uncertainl5 the enblls Ablbty to fxJnIln lo owal•. d. Income OonalN)ns and lega&s con51s1 ol glfts, offerrrffJs, •nd rt1Oled Glft Ald clalms. In¢om& whrh is re¢•w•d lor a purFose is accounted for th1Th a rJlri¢ied luNJ. Incorne $ recognised In Ihe year in which Ihg company is gall1 lo receipt and the amounl can be measured rely. 11 Is allocaled lo athiis on an xlual basis. In at¥x)rdan¢e th Ihi$ policy, legac5 are irKlud8d when Il s prOb9b ihal IW wdl 18¢eNod. OonalKJns In k•MI aro al la¥ w•. xcordarKe accounlng 8tsndard&. ExperltUre Includes all expendllure dlrectly lalit¥j lo Ihe obi&ts ol the charily. Induded on an accwals ba818, inclus4ve ol any VAT GanrK)I be remed. on the lolb)thJ ba$.. Wherever rw)55ible. cosls are 8xated to xlNili85 on an actual basts. Costs 5hwed bBIwoon clivilles ale apportroned beh¥88n Ihese adi¥11$. Supp(Kt ¢Xbsts %¥hth are Tr)1 altributable to specific aclmty ha been aPFM)rllot beiweon IhB adN115 betry supported. Wages atKJ salarie5 have been sF4il bel*Yen lunds on th8 basis ol eslimaled lime SnI by staff membets on the DerweDI prgecL
Note6 to tho Finan¢lo1 Stat•m•nts For lh• ar ended 31 Dec•ml)er 2025 ConlSnued f. Fin8rri81 instrum8nls Irwt only h88 finarKial 8888tS 8nd thaiths of a that qvalfy as basic fin¥n(441Th8trumersts. g. tlebtorn Includes amounts fftvoi¢ed tmjt pahJ. kyther wilh poyments kn od¥arKe. 1855 WOV15b)nB lor any doubtlul detrts. h. C88h at bank arvj In hvKt Eoutytes tole881 11 (5 acres5 bank t•lam and ¢a8h Ibjats. l. Cr8dilor5 pro8 lor Ibblhlkns IrKludo$ wrche8e¥ bul rt y81 paJ. co1$$ry gre IrsUred al8nK)rt4s•d cost. l. Fixed 88sets Flxe(S as8818 we al sNJnal cosl rx, ff don8tsd, ai the the date ol th8 gKi. 185# ccurnukled depreda1h. 08pr8ckg1n 15 cal¢ul81od lo ll8 off the cost esllm#l8d rosldual vèlue of fixed asstrts over Ihelr esllm8ted useful life. LBnd ¢$ nol deprg¢181ed and buildings aro depro¢ieled a18 r8t6 of 2% on a slrtrJhl.lin• bas,. wuyrthl aTrJ furnlluro aro Wr8ck91ed on reducing balance basis at 8 rate of 30%.. The nnimum wilalisab'on is £l.C(Kl. k. Fund Countla The Ilreclor8 h8ve retahd Ihe delana¢ed $ums k)mvJ part ol urweslrklgd funds to be used lor parl( wrrx)w in Ihe fulure as ovth'ned in 16. Invostrnont6 h 8ubshJL¥k85 are rqccwlwd ty Chortty at co$l1855 ar¥J lor lftwlmient. l. Invoslments Inv881ments held 88 fixed assots are staled 81 cost 18ss FYovi¥ion for any pernnent dimlnutknn In value or at tsli volu8 as delermmd by Iho Tr18$ a$ h) Note 9. ItTrveslrrnt81Th subsidw uThJerf8kirwJs ore 81 CO81 I8 8ny P¥Ovts for Impairm8fi1. m. Publk benefil corte88knTrvy I8 Publi¢ ConcessarY k)ans are inibaly meawred at cosl wilh cBrrying anKTrunl Sdlusled in 5ubsequenl yeais lo ¥eftect repayments and any Impairmenl a8 detefmirlgd neGe550ry by IhÈ Tru51e88. Owrallnu18a Rentals under lea¥8¥ recc¥Jnid in eXpeIllure o stra-1? ba815 over the perlod of lh8 lease. 21
No¢u to the Flnanclal Statem•nl¥ For the year •nd•d 31 D•cemhr 2025 Continued Judym•nts In 4pptylng ac¢ounUng poll¢l•¥ •nd key •ourc•• of••tlm•tlon nrt01Thty Inve$tment propert The Rawn$ sile has valwd Ihe basL8011 Ir¥Thie derwe(I fromcai parking. An Infofm8 has en takèn a5 lo an appromale rat• of rgluin. wilh incorne lor8cas1 into p&rpelvily. inforrned by hrAorK an5 arry olher p8rtineTht exlemal fths. The Pen¢il Museum has val c the basis ol the nel income dwITr from rental incorne. An Inforrned view has been taken ys lo an appropriate fa ol r•wrn. wlth Income lorec8St into perpplully, Inlorrned by his1or tr$, krvjwn pknns and any Olr porbwil ex¢emal factors. Dlscouni rale$ In Ihe rang8 7.S% lo 8.0% ar• con5pJer8d Bpprcpriale and beon used for these C81culaikJn$. Derwenl c4¢t Slt¢ devek)wnent wsls h re8p8cI ¢Ylho Oery¥8nl Pr(l lall wAthkn IvArcOtl Goods Schem8 as such an e5Umaie of Ihè VAT parlualy 18coverablè Ihgreon is included al Ihe balanc sheel dale. Th &rr>Jnl ol VAT partllY recovered is linked 10 Ihe ojrrenl and &voJacl8d actiwli•s of u)e chHrily. In¢om• tl0nau0r aTrl W+es.' 2025 2024 Lagacles iknre3tricted 6)nthL Fl$trscled dcnabons .971 2,313,121 32,116 1.737.7 2 425 857 1932 206 IrAwtsrnnls'. 2025 Irknfjsl 18,464 269,353 Z87 817 33,010 260 561
Notes to th• Fln•n¢lal St•t•m•nt$ For year ondod 31 O•¢vmlxr 21125 ContlU8d Analyls oléxp•ndlluro on charltablo ac¢fvlllo5 ztjvhy ssionary frwitalty FMJ Oemnl PrWI 51.254 51.254 1.358 1.3&8 restricd fu charItab 1.665,554 202.375 1919 183 728.057 405.252 2,393,611 607 627 3 053 850 Tot•1 CharSt8bl& actfvllk85 costs th& ye81 rcKJtJ fJ)8ts of Ihe SkKldww Slretst Ctyi¥entkJn C•ntre 8nd 9¢8Noffices, and ol RthY bJildiTrJ. 2024 comparatlv• ¢osts Totsl Actlvlty MiSY kb8F4t• Fur¥ Derw8nl Project 1&140 SS.419 15,140 55.419 Charilat4e acti%iles 1.343.439 76.328 1,¥26,677 426.433 2 423 669 350.105 char& actSvllies costs the year r¢JuTrJ costs of the Sk¥Jdaw Street ConYentkJn Centre 8nd ¥tBff offte5. ond ol t Rawn8ky 23
Notès to th• Flttanclal Stalem•ttts For the y••r •nd•d 31 D•¢•mb•r 3025 Conimued Audltor remunoratlon Th• compony kn¢Uff th8rg8s the d11C. 2024 Aud51 le•- 2ff24 Audll fetr- 2025 Taxpthce 8TrJ 1400 21. 75) 19.5fy) St•ff ¢o•t•, r•lai•d rtI•l Ind voluTrrt••rn 2025 2024 W•Jes and sakries Sc¢ial S8cwity costs Pqnsbn coThtrlbAoM 517,5KI 41,961 70.885 427,&]0 25.793 58.193 The Tiu$l orwates 8 denned conlrttrth p•Mv)n 8chom. No employee e8m8d £60.{(• per annum or rhY•12024- rb) eamed £60,000 per annum or morel. Ono 0mpkn's lotalmployment package, IrKludlng ssoctlk• 8ryhngerwnl$, exceeded £60,000 12024 - no em0Ye88 lot&1 empk)ynwnt pa&ag8 5ry sacrffic8 aifarwemenls exceBded £60,(th1. The average number of full lim etyfv8kn¢emF4oyees w85 1712024- 121 and Iho averago he8d¢wnl w8$ 17 IW24- 141. 2Q25 Tru8t8e8 CIW Ewub' ThrtrIr d Bwlrss (ratioB The above remuner8tion L4 consideied lo be remurwalKJn ollhe key managemenl personnel. Mark Ellls Chief Ule who lad lh8 oryanr8alTh, a55ks18d ty Ihe Dirrftty of &j$Ine oPeraOn8, M¢k8 Cau5ey. Expertses of£3,52112W24-E5.(rf81 ldAlr$•j to 10121r24- 10ltruslee's lor Iravd and rneetlng expense$ in the year. The spouse of a liuslee. receryed rerNIra1In of £6,504 12024 - £12.6911. A contribulion of £520 12024- £1,015) was akno made to the thairfy defined contribulKJn pensK)n s¢em?. 25
Not•8 to th• Flnandal StstementS For the yt¥r •nd¢d 31 D•¢ember 2025 Goniinued Slaff cost$, i•lated pa•8 and volunt••r¥ IntInUOl No Iruslee dwttior rtctivtd any iemworatw in re5F¢Ct of their ser¥K8s as a Trvst8É of the Gharfty. The chanly Is exlrernely grateful lo ovet 750 vrAunleers bvho assist durity ihe three weeks of Ihg Conventsori and al olhef Iirne5 lh1ougl th8 year. Tha Convenlth volunleeTs undertake a wJe varlely of piaclical lasks in the areas of chdren. youlh, 8nd ytKJry adult's rninislry. slewardirKJ, aleng, gtft pr¢xe55ing. and receplKm. Wilh ihe ConvenlM)n on the new sile, il w85 wOThjerf to see ever6 working I(81hr in Il 8th¢0 ofthjf LL¥d. W8 ar8 sD Indebled to Ihe ve4unleer8 K have ld year-rowd adminl$lralive la5k5. aTrJ wllh prÉclltal 4uoss our stes. The Irusle88 whh to record Ihelr 8pw•c*lth lor the a551slarK8 Ihal has t¢8n, and conllnu¢$ to bo given In support ollhe Fl¥•d ••¥•tS I bUlIv1 & Rwr•l•y •1 F•¢1 E4ulpmvnt & Furnttur• Tot•1 CCBT At l JaTY 2025 Ad{h8 1.185¢ 9.074.184 209,933 189.440 24.652 11.042.413 314.585 Al 31 oe¢¢r 2025 DEPRECIAn At 1 JonuBry 2025 Chwge for th• yq 602.257 22.174 ,164 IW246 172,067 12,28B 13. 204.IOP 516410 184 355 15TS 234 T BCI]< VALLE 433. 8,714.020 17.373 9.671.287 The Convenlion Centre al sdda Slreel. wlh o not of E484,423 $8curtt o Dn favourable lfjnyts from a svpportwe charflabl? IrusL 26
Notes to lh• Flnanclal Statvments For tha yvar•ndod 31 D•Gemb•r 2025 Conlnuod The trust owns a number of bu11 diws for dtherent pulle5 •xI 00¢h of these h86 Il$18d bek)w wllh a de8crlpli(m of usago and tho accog Ir8aLment. P•nGII F•¢lory •bt• Site ofthe annual Conventtm end mwly oflha yearrfwnd Teaching and Trair Events. wttich is valued at cost1888 d•preoalK)n. R4wnF•y- Bulldlng¥ NgigFTtK)uring the Penul Housed $laff t)IrS unlil Iheir mve lo Iho Pencil F8ctrJry Sile mid-year. Upper floor renied lo K&Sk y1h Club. U8ed durir¥ C(m¥onlJn lor tsam catsring, and as'galeway" lo maln Ille hl¢h 1$ v8kJ8d 81 co811888 Rawnil•y- Car Pavk Car Park nebJhbourkng Ihe Pendl Factory stte. Ylhkh vald on Iha p¥esenl value of ¢o$h fv) Irom the car Pa income in of a prDfe$8w81 ¥8811. 8klddaw Str••t Used to accommodat• volunteers dur¥vJ Con¥8nlion. A150 US8d as T&T 61 8ccornmodalkJ). Unu¥ed space lo th41 charf¢y'. occommodatlon u88d by ar¥J 0lh¢r groups Ilwoughoul th• yeai whh1s yU8d al ¢081 W deweoal]n. Pencll Mu8•um S61• Adlacenl lo thts Pen¢il Facknry 8it8, which v&lJod on the ww•nt v8 olcaBh lkn from the renlal Incomg in1Seu of8 profwkjnal valu81ion. Inv•itm•nt• Unwot•d Property Invostnwnt• ItM8 Falr Va VakMtlon Cost BMI• olv4u¥tlon Total Cos¢u kIStiC 811 JarAw 202S Dlswsas 81 cost or CAns on ie%BknatK)n Transf8r lo current asse¢8 Co¥1 or V#lu•tlon at 31 Decem 2075 2,7, 2,7,505 2,W7.X 2,17,505 Tho lair valu8 ol the invesimenl wopgrty has been cated using Ihe cash flows of ren181 Incorm B$ s on Ihe inveslmenl. No forn1 valu81w)n has boen (*tain8d Irrn a qualified independ8nl valu81. There are reslriGlion5 on Ihe 8fA"lity to vedr88 on dl$p0s81 of the properfles on the Itance of incorne. 27
Not•s to the Flnancial Statgm•nl¥ For the y•ar •nd•d 31 Docemb•r 2025 Continued 2025 224 WIH)ty 5th5i(I'y.' Keswick cntion Prciect LJ Ke5ck th%enllon Fwts (Rwsknyl LJ K•swk Conventn PioJ8cI Llmlled. 8 ¢¢)rnpany gngaged Carng oul proJ8cts Gonnècllon wllh th8 Ke$1Ck Convènlw. and Ke5ick Convenbrm Projects (Ra¥n¥yl Lwni18d, # cornpany en9a9ed In carrying oul trading activit8 in suppxt of the KeswK ccvenOn. 8¥e both owned IradlrvJ subsidiaths, and Iroiwal8d In Enand. 8har8s hekl dInary £1 sh8res. The year 8nd lor both SI$118r1eS is 31 Dec8mbw 2025. Th8 aggwale shwe capilal and reseryes of KeswKk CL4ivenkn Prlects IRawn5knyl Llmll8d wai E19,525 and its lurno¥8r lor the ytsar w8¥ t312.(5 18$ulllrYJ in 8 prohl of £19,523. K85wKk CcnvenliThi Proittl Llmlled w8ga18 share caF4tal and reserv85 at 3108cember 2025 wa5 £16,307 and 115 turnover for th8 yèar was £68.887 wults.ng in a net pmfil lOre tax 01 £11,498 8TrJ donaiw5 to the p¥renl cnpanY 0113.546. Consolidaied financkngl stalem8nl$ have not been wep8rnd on the gmurJ6 Ihal ihe 188uIt8 of Ihe sub8k1iary undert8kbw8 rol be m81ert4 kn gFotsp fR)8nclal Stalemenls. 10. O•btor 2025 2024 Trade debkns P8ymnts in Prepaymrits wwj accr irKon JunLS owd by uthtth'rys 57,656 61,246 121.308 18.3rKJ 8.739 84,457 $9,584 11. Cah and cash •qul¥•lonls 2025 2024 Cash In haThJ ce desx)&"ts (kn than Curienl 6S5el 4T4.2 10.257 243.588 709,995 25 2024 Lcryer 18rrn dekx)sts currwtasset 5,652 Tot81 cash 490111
Noto8 to tho Flnanclal Statomonts For thè ye8r èndod 31 December 2025 con11rs 12. Cr•dltorn: arnouh¢¥ f•lllno du• wlthln on• y••r 2025 2024 TrJo creditrxs (Jher ciedi Co6&8nary AccruaLg D¢ferrod Ir¢tyr 3.240 39. 17.LK)S 17,642 a.000 42.fj49 205 572 D¢forr•d Inct>m• rd8le8 to deposlts lor t)oklrp ¢ourse 18e8 lathrwJ In th• Mxt finandal yoar. Dolfrmd Im9 ha5 been recognw 0$ Id&.. 2025 2024 Deferfed Icrfv•d Reknased IJ in¢(xrn durlro the y R8C8l%vJ durlrvJ the yw Oelerred c8rrled 13. Cr•dllor•.' •mount folllng du• •ft•r on• year 41,712 141,7121 43,457 143.4571 1C¢.880 Con¢M•lon•ry beWn 1 2 years Due b8Wn 2 8r¥J 5 yews Du? 8fter 5 yews 2025 750.C The £750,11 loan is tance5$KJnory' from a suppLvtive Chrk5ti3n Trust.. ot 2ero inlèwt.. Pay8b by 16 June 2027 and $8oJr8d by a fir51 charge on Ihe Skkldaw Slreet Convenllon Cenlre. 14. Flnanclal In8trum•nts 2025 FinBTKI4 asseb nwswed at rntis•J t Cath and cash eqWlS Fina1 lith%ties aSure at arrKKI5ed ctsst 75 WJ6 4,311 753.240 31.W2 959.235 FinarKial a580ts rnred al amrbsed cosl wrise Itado aml ollw d8btu8. Finanoal I11&$ asured a18rn0rtsed cost npre IrJ8 and other creditoTr aTvJ k>wty.
Not85 to Iho Flnanclal Sl•temtnt5 FIX the y•ar •ndqd 31 D•nb 2025 Continue R•trl¢t•d funds IAovem•nt Expenditur• 1 Jary 2025 TrJn¥fvr• 2025 31 Oecember 2025 2025 ssionary Fbspllalty Demnl Prwl Fu The BlI1rJ5 Fw The Websikn & AKV FuThJ 22.912 1432,1391 152,8f61 432.139 65.0 50.OCXI 494 273 25,811 65,000 The MI$$K)nary Hospit81ily Fund was 88lablish¢d lo rnceNe gifts in (xder that accommodallon can bo provided and gr8This can be gl¥6n en8WIry ¥5)naS lo attend Convènith #nd other Keswick minist1S missKJn rated together th assotsaied adrninislrzlion costs. Duilw 202S mnl&$ were gwen aryj used Io 8UPPOrt an intwnallonal of representativ88 from o¥erwa$ Koswkk. durlng the IS Ke5wick ConvenlKJn. The Derwmt Proi•¢l closedl SUFPOrt•d t pur¢ha and relurbthTl of iho Pendl FlOry 811• In Ke$1ck, Ihe lulure ol th& c¢11)n and BPo•rvJ the ye-rnd qrowlh of Ihe mknl8lry. The 8uildlng$ Fund represent8 am(¥Jnts 881 a8kle in I*tn to lubjre on 118 wllhin the Chwily. The Wgbsile & App Furvj repSen18 annIS sei •sNJe in ieLHtK)n to updaleg lo Ihe w8b$ile and developnI of an Atrled funds are hdd Sn liquid au•lo.
Not•¥ to the Flnancl•l St•t¥m•nt¥ For th• year ended 31 Oecomber 2025 ConlSw8d 16. Summory olfvnd mo¥ements 8•lan¢e Gakn ¢)n BilanM 31 1 JwKwy 2025 Fwxl 2025 Fl>d Assel Dern1 Proixt Fund 11,828,787 1204.107) 314.585 11,939.2&5 FUTh 495,282 3.070.510 11931,tr25) IrJ1,7241 402,243 iknrestrktsd FdI 12.954,[ 3.070.510 3.135,932 $47.139 12.341,508 ssion8ry Fdleh'ty Fwpj Oer1 Pi1 FLnd Th8 8ukJirvp FuTrl Th8 Web.1& & F R8sLricknd FurKIs 22.912 (s2.) 25,811 1432.1391 432,139 6SCIYJ 65.(KKI 50.00) 140811 Y7.139 TL¢A F 12 544 842 3 126 275 12 482 319 nal The Fixed As$el Fund re[ents Ihe lolal amouftts Inve$lerf, from gernr81 lundj and Jp8eS•l appeals in the pa81, in tsngib* fixed 855els and in¥im6n1 w0leS less depre¢io1ion mnd bDFrowings secured Iher&en. Included wthin Ihe Fixed Assel FUNI ks Q,139.91812024.. E2.139,9181 of nonlstrIbUtabJe reseryes. arisng from revalu81w. Th& DeTh¥enl ProJec¢D¢$ignat8d FuTrl le5•nId•nnb sela5hlo in relBlknn lo thu DeN•nl Project. Tr Transfers of £432,139 from the OeThYeDI Project Deslgnaled Fund to the DoNvenl Projecl Restrfct8d Fund rola195 lo the nogalNe balarte on the lund to thB ol dose. and £197,861 from the Detwent Proi8cI De8pJnated Funr$ 10 lh6 Gener81 Fund rakte to Ihe excess bobtK¥ Ihe D88wal8d Fund. Tian$fws of £314,585 fr th8 Gener4 Fund lo Ihe Fixed As881 tlesynatfjd FurKI relate lo Ihe c8prfa1isa1Th olfixed a55ets purGh8sed in spect 01 genergl fund. Transfers of £s0,(MM) frcffl Ihe Genet41 Fimd to the Webstte & Re$th¢te Fund id8le3 to InltLql 8rnOUllt set a$NIo lOrWeIe & Arv. Transfers of £65.¢XMJ Irom the Gerwal Fund trj the 8uibJry5 Re5tirted Fund lateS to Inltl8t anwxnt Sel askle lor BuildiNJ W0S. 31
Not•& to the FlwKn¢lal Statem•nt$ For the y•ar endvd 31 D•c•rnbgT 2025 c¢tinUed 17. Analysls ol n•t assots b•tw4•n lund TanWbl• knv•8lm•ht$ Net Currmt & D•poss A•8•t8lllal)Iltl••l Lon9 Term co•6$k)mY Lo Total ithre5tr1ctsd- designated lthrestric18d- gew Total unr•strlct 9.781.765 2.9)7.S( 179),tXQI 11,939,265 396.586 396.586 402 243 ?2,341.508 9.781,765 2.913.157 1750,C#XII M$$l¢mry Fbwl81ty Fund Def%4wI Propcl FL The BuiklirwJ5 FUTh Tho Vvebsile & Fw Total r••tild¢d 25,811 25,811 65.(M)J 50.C¥XI 140,811 y),0 140,811 Tot•1 fvnd# 9.781765 2913.IS7 12482319 Tanqlbl• 2024 Ne8tment$ N•t Cuiront & Deposhs PA18t IWJMltl•¥l L¢)ng T•rm Conc•s8lonary Total Lhre$trlcted- designated lthre5tricted- weral Tot•1 nTOtrIcted 9,871.287 2,17. 1750.C#XII 12.458,787 5.657 2.913.157 489.625 1.119,625 495,282 12,954.089 9,671.287 17S),(JX)I M851arY Fkw"181ty Fund Delwl PrDkct F¥nJ Total rostrlct 22,912 22.912 432.139 141YJ.2271 432.139 1409,Z271 Totsl funds 9,671287 2 913.157 T.1))0 12,544.842 32
Notes to th• Flnanclal Stat•menls For the year •nd•d 31 D•cember 2025 Contlnued 18. R•latsd party transactli)n¥ Keswick Convtyntion Propcts (Rawnthyl tsrnitod 15 a wIK)ty ¢)wned sJbsidi8ry ol Ke5wltk Conv8nlh)n Trust. For the year endod 31 D8cemb81 2025 K@sw Cvent)[S Proje¢is (Rawnsleyl Limited was charg8d rent of £243.9B4 12024 - 1263.6921 ty Keswick Conventirn Tw61, of which £18.299 12024- £23,062) remainwj outslarxllry as al y6ar 8nd. Ke$wlGk Proi8cI Limi18d is awholy owned wbsK119ryoI K¢8wk Convontttyn Yw$l. Ke$¥ck C£vents.0n TnJst no experw8 on behaifolthe 5ubshJkiry. Al tho year-eTrd a has been rnle tr Ihe payment ol a charitae th)natS)n In Keswlck ConvenlH)n Proi8cI Limrted'8 8ccounls to Ke5wKk ConventkJA Tru$l Ih8 sum of £nll12024. £3,546). Oung Ihe year Ih8 Tw51ees mBde to Iho Chwlty 01 £12.32412024. £14,548). 19. Fln•n¢l•l commltm•nt• At 31 December 2025 Ihts ch8111y hth1 c•pltal lM11M018 lolallirrfJ £nd12024.. £41,826). P•nslon cvmmltmnts The chadly cw8le8 a defined c0n1rlbjlh pen5K)n SCI c(npli8nt ¥vilh wJio enrdnwnl. a$$el$ orth8 scheme Bre h•ld $0pwaloly trom iho88 of the charily in an Indowndonuy admlni5tered fund. T pen(ffi ¢0gt charge represents Contri$ p8y81)b8 by tha th8ri1y to Iho fund and amounted to £70,88512024.. £58,193). Cfmldbutknns to¢alliTrJ £11.046 12024." E4.1101 w8f8 paya8 to the fund al thè balarfe $heel d810. The commllThThts we a Il•blllyoflho wrn$lrkW lunds. kn Ihe *ith Ihe experbee. 33
Nole¥ to thv Flnan¢lal Statement¥ For th• yvar •nd•d 31 Dmbr 2025 2f. R•¢on¢lllollon ol n•t movem•nt In lo n•t ca¥h ftow from oporatong a¢tlvltl•s 225 2024 N81 incLYbW for peric¥J 162,5231 57,Ik52 Adwstrmnts r6specl d.. DepYeci8b'on chwges Ropayrywl ol Lo8n5 Inresl r8c%d ReTr ivcolre {IrreaSo)1Do¢l¢a$ts In debbjrs I1reasO1{01sbsel in ¢xwJtry# 204.107 IM),(KAII 118.4641 1269.3531 182.6871 86.565 193.087 133,0101 12&J,561 9.007 598.317 22. Anal8 ol changos In n•t At 1 J•rnwry 2025 At31 O•c•mb•r Cash Il¢>ws Tr•nslor 2025 Cash cash wl*lonts Debl due th8n ¢Th yew D•bl due aller year 959.235 13(KJ,(Wl 79).IIN) 1469.1241 490.111 7SI (MYJ 169 124
Note8 to the Financial Stotements For the y8ar ended 31 December 2025 Continued 23. 2024 SOFA ¢omparntlv•A Furvjs F(Axl$ Income and •ndowrrnn¢s fr(Th'. kgacies Charitabb xti%itie5 er tradiry I01nts Rents bcerre Irrcm 162.343 1.932.266 124.774 134,eA)8 293,571 152,195 5.916 124,774 134,608 293.571 152,19S Total exp•ndthur• on: RAISI fund5 harl1&* Total 152,540 2,353,110 2.9)5.69J lo.9 I62,9 2,423.6fj9 2 586 278 N•t In¢¢m• Trwsfer$ funds N•t mov•rn•nt In fvnd• 7.332 7.332 RKon¢llWlon olfunds: Tclal lunds br¢xKJhl Totsl lund• ¢arrl#d lorwai 12.97141x1 483.610 12 487.7 35