CUS1gn Envelope ID.. B7A421294AC6433D.9FEB-8144C045D274 FRIENDS INTERNATIONAL MINISTRIES (Company limited by guarantee and not having a share capital) Registered Company Number.. 4500270 English and Welsh Registered Charity Number.. 1094095 Scottish Registered Charity Number. SC048838 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Gsf4&co Griltin Stone Mosirop &Co 100 YEARS
rk)cuSn EnvakJpe ID.. B7M212fv4AceA930.9FEB4144C045D274 RNAMONAL IAINISTRI ANNLJAL REPORT AND FIMNCWL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Legej and adrninBtratNe foalon Report ofthè Trustsas 2-14 Statement of finanri31 aebviuès 15 BalanL¥ sheet 18 statem8nl ofr*hl% 17 Notes to th& fiThanaal stst8m8nts 18-24 Ind¥pètsYènt auditoes report 25-28 Grfffin Stone Moscrop &Co
[kxUBTh Enveknpa ID.. B7A42l2Ac84aSD4FEuI44G01sD274 ENDS I ONAL MI TRIES Regi8tered office.. The Rtrn Centre, Al Natiot13 CbristigH Cdb38, Easn8yè, Ware. Hert8 SG12 8LX dministrative dg fe¢h visors The Trustees present their repott togeth8r with the awjunts of th8 tharltable company for the year end 31 Dec4mtEr 2025. All of the trust888 aci in the rob of directors. Th9 lollDbMng trustsa$ seThed from 1 January 2025 and up to the date tsfthe approval ot the accounts:_ klatthtw Ea6t Jane Hutton lan Robarts Sara Slatsr G8offrey Sp8nce (Char) Thè followng trusts¢5 teslgned durirvJ th& year.- Henry Lu Iresigned 5 Dacnber 20251 Nats3ha Rayan {resigd 14 March 20251 The day lo day operations Oftt charty are ov¢wen by Alan Towèr, the N8tyonal Director. arnènt nn Notional Direts. Alan T Rggional Developmant [ecr8.. Pets E(twards Ivan Neira stephanig Knèl Lynefie Teag FInan Manager. Lydkq Evans Princpal thadr8ss". The Rowan Centr8 All Nations Chrisb"an CD189è Easneye Ware Hert5 SG12 8LX Bankers-. Bank of So)dand Audltor. Gnffin Ston8 P+)scrop & Co. 21-27 Lamb's CotKluit Sireet Lormlon WC1N 3GS Solicitors. Ellm0r& Negus 2 Devonshir8 Avenue 88eston Nottingham NG9 1BS P1 ffin Stone Moscrop & Co
Docusign Envelope ID. B7A42129.4AC&433D.9FEB_8144C045D274 fri;,ends . IN i £ft14ATIQI4AL f'*• Friends International Trustee Report 2025 www.friendsinternational.uk ffin Stone Mosry&Co
Docusign Envelope ID.. 87A4212g4AC6433D.9FEB.8144C045D274 Chair's Report Friends International Ministries is an evangelical mission agencydedicated to encouraging and equipping churche5to reach international students for Christ. International student numbers have continued at near record levelswith 715.000 at UK universities. and a furtherestimated 500.000 In UK language schools. As with other recent years 2025 was a yearlull of activities for Friends Intsrnational. Cherall, neady13,500 international studentswere in touch with Friends International run and supported events lup 5°A on the previous yearl. mobilisingvolunteers from 318 churches. Including1,219who took part in Bible Studies, and 80 whodecided to embrace Christian faith la19°A increase on the previousyearl. Social media presence continues to growstrongly.with particularencouragements from Instsgram engagement and followers among young adults. and websiteviews. The Friends Intemalional App has performed slronglywith a total ol over102,000 downloads to date. In slafl recruitment, we were encouraged to appoint CentreTeam Leaders in Paisley and Bournemouth after a long searching period, plus a second Staff Worker in Colchester.Therewere fewerioiners than the previous year, partly due to natural peaks and troughs and partly becausesome invited appointments did not progfessowing to factors beyond ourcontrol. However. five staff wereoflered poststowards the end oftheyèar. with theexpectatiori ol appointing a Centre Team Leader in St Andrews and two second Staff workers lone an ApprentiTrl by March 2026.Two non-UK Reach traineeswere accepted on to the Apprentice Programme Ithefirst time an Apprentice Staff Worker had been appointed on a Ministerof Religion visal. Our Reach graduate training programrne has 9 participants receiving training for mir)istry overoneortwo years. The Directortearri, 40°Aofwhom are originally not from the UK has become well established and is functioning toa high standard in supervision. setting o15tratsgy. developing new Centres. and training. The annual Conference held in Januarycontinues togatherstaff, graduate trainees, affiliatsd ministry partners, engaged student representatives, Trusteesand international visitors, to celebrate. train, encourage and envision for the yearahead. A stsble Support Centre Team has provided the baseto addres5 how besttoserve staff in our35 Centres. Branches, volunteer network5, and churches. Pr(yJress has been made forstaff on reporting projected deficitswhere relevant through the fqanagement A¢count5. Stsff corntribLltionstowider networks in Europe and globally continue, including the part secondment of a staff memberto lead the European International Student Ministry network. Cross-agency collaboration amorig student ministry agencies in Britain has been facilitated through leaderconsultations. We continued to pursue ourGrowth Strategy Plan aiming to recruit staff in riewcentresand reinforce existing Centre staff teams, in the places where most international students are studying. Theemployment ofa Fundraising Managerto 5UPPOrt the development ofthe General Fund and the Growth Strategy has continued to showfruitful if hard-won outcomes. Preparation forthe managementofan endowment fund continues, with one oftwo properties sold to start providing the basis ofthe fund. The charity continues to fulfil its aims and greatly enriches the lives of many international students when they come totheUK. Griffin Stone Moscrop & Co
DDcusign Erwek)pe ID.. B7A421294AC6433D-9FEB-8144C045D274 Our Objectives and Activities Friends International Ministries is an evangelical mission agency dedicated to encouraging and equipping churches to reach international students lor Christ. We seek to help international students. whatevertheirlaith backgrounds, during theirstay in the UKand elsewhere. Friends International'svision is to see international studentstransformed bythe good news ofJesUS Sothat theyfullyengagewith the mission ol the church in theworld. Public Benefit The trustees have considered the Charity Comrnission's general guidanceorn PLJblic benefit and in particularits supplementary public guidantr on the advancementof religion lor the public benefit. Friends International's purposes comply directlywith threeof the CharitiesAct's descriptionsof charitable purpose- namely.. ~the advancementof religion"; We aim to demonstrateto international studentsthe relevance ol Christian faith to personal life today, how Christian faith has developed and how it15 variously expressed in theworld of the 21st century. We partnerwith university chaplaincies in providing pastoral support lor international students and some 25 of our staff are also university chaplains. "the advancementof education"; We interact with international stLsdents in a range of differentways, helping them improve their English langua9e, understand different cultures, and sometimeswith more specific training such as leadership ski115 and preparation lortheir return home. "the advancementofcitizenship orcommunity development~'We produce resources in multipleformat5for ew international studentsto helpthem integrate into ourcountries, and we run orientation programmes mainly the autumn term. In partnershipwith local Christian cornmunities, we arrange cultural trips and opportunitiesfor international studentsto meet with a British orlrish family. We partnerwith universities to oller English language practice sessions, helping international students to be effectivefortheirtime in the UK or Ireland and estsblishing friendshipsthat will helpthem thrive on arrival. The trustees seekto ensure that these purposesare met as the Charityworks principally to support and enable Christian churches. outreach in their local communities with specilicfocus on international students furthering their education in the UKor Ireland.
Docusign Envelope ID.. B7A421294AC6433D.9FEB.8144C045D274 Strategies Key strategiesfor2025- 2030 include.. Grovrth initiatives which aim to help us reach a tipping point ol students aware of Friends International so that all international stLJdents carTr experience a welcome to the UK and Ireland, as well as an opportunityto investigate the Christian faith. Supporter number increases are sou9ht through attendance at key national events. staff r)umberincreasesthrough advertising lor newand strengthened key Centres. an Apprentice programme, Partnershipswith other ministries, intentional programmes lor language student5, specific servitr of universities through chaplaincy and international ollice contact. fundraising and local structure development. Reaching out to students who have difficulty hearing the Christian message in their homecountry orwho are not initially attracted to ouractivities is an emphasis lor ministrydevelopment. Returneefocus. for when students retLJrn to their home countries ormove elsewhere, to be built in from the first contacts with students, through friendship, to continue moving staff, Branche5 and Development Groups, Churches and volunteers, from acknowledging the returneefocus to influencing howthey conducttheir ministry. Increasingly, when a lower proportion of International students tUrrn homealter finishing theirstudies. theemphasis ison making a good transition into the next phase of life,whereverthat might be. Events speaking training helps to develop skills in public ministry to betterachieve ir)ternational student outreach, bothto model contextualised Bibleteaching ar)d evangelism in a multicultural setting. and to equip otherstodothesame. Innovation in Student Engagement include5 newèpproaches to reach out to and meetthe needsof international students, aswell a5 resources forleadership skills, International stLJdentwellbeing. di5cipleshipand outreach. Learning and Development are promoted as a whole life approach forstaff,volunteer5 and partners. including trainir19 evaluation and the developmentof an essential skillsframework. Membercareaimsto embed good practice throughout theorganisation through leadership engagement training provision, healthy induction of newstalf and academic research. Mission Partnership Development helps5tsff draw in a full schedule ol financial and prayersupporter5 to allowtheirworkto proceed fully resourced. Griffln Stone Moscrop & Co
DocLL5ign Envelope ID.. U7A421294AC6433D-9FE&8144C045D274 Activities We continue to have ten majorareas ofactivitywhere wè seek to implementour strategies.. Regional Development Directors IRDDsl identify areas of cor)centration ol international studer)ts withoutfocu5ed international student ministry. RDDsthen seek to developvision among local churches and other partnerager)cies through estsblishing new Centres. We then aiffl to build local ministryteams I'centres'l with sound funding and effective supportgroups, through the recruitment and appointmentof staff (including Apprentices and Associate51, the partnering with local churches and Affiliates, and through Development Groupsthat become Branches. Weencourage, model arndsupportwelcomeand cultural mini5triesthrough international student cafés and seekto engage international students with biblical truth. encouragement and challenges through groupand individual Bible study. We encourage the setting up and running of local hospitalityprogrammes to increase the volur)teer provision ofappropriate contact arnd supportfor international students. We offer language practice-based activities. values-based leadership studies, intercultural training for future Bible teachers and otherfocused programmes offerin9 relevant skills to International students through contact with Christians. We seek to engage with universitychaplaincie5 and student welfare bodiesto olfercounselling, wellbeing and otherservices that help universities value, carefor and add value to the student experience for international student5. Our Reach graduate trair)ee programme is used to envision and train recent graduate Christians from horneandabroad. We develop appropriate regional and national supepiisory structuresto provide a unifying vision and direction which supports each localityappropriately. We build effective and accessible regional and national resources ar)d events U51rn9 relevar)t communication channels to ourkey stakeholders. qv .Jw.'
Docusign Envelope ID." B7A4212WC6433D-9FEB-8144C045D274 Review of Achievements and Performance l.CentresandStaff In 2025 Friends International continued to develop activitie5 through stsff in 34 centres and through affiliates in11 more. Through our partnership with Christian Unions Ireland, expressed through regularmeetings including Wlth seniorstaff and a Trustee. we seek to enhaiice effectiveness in International student ministry acr055 the island. We continue to recruit newstaff to the organisation both to establish newcentres and to strengthen existing centres.we currently have 83 across lull and part time patterns olworl 68% ofwhom are women, including Associate stall who are either seconded to us from other charitiesorlocal chLJrches. stsfl are involved in a varietyof activities shaped significantly by the centre5 in which they serve and by the locally agreed strategy. Since a key aim ol the organisation isto resource local churches in their enga9ementwith international Students, staff Invest considerable time in training church members to multiply effective ministry. In some centres there areestablished inter-church teams offering a programmeof events, hospitality and Christian teaching. In other places thework iscentred around oneortwo churcheswhich provide local volunteers. Much ministry is based around term time and weekly events. Such events can be purely social, oran event with some Christian content tr> introducethe Christian faith, orevenl of a discipleship naturefor those openly professing a Christian faith or a desireto specifically explorethe Christian faith. SLJmmer outreaches continue to pSaya key part in reaching particularly language students," while itwas harderto recruit team members, there remained a large number ol both language and universitystudents whowere kèen to take part in activities and somewere willing to investigate the Christian faith forthemselves. Acrossourcentreswe aim to help International studentssettle into student life. provide care and sUPPOrtwhere it is appropriate, encourage them to considerthe Christian faith. and prepare them for the challenges of the rever5e-cultureshock they mayface on theirreturn home. 2. Support Base Of the £2,741,8n income from donationsand gifts. roughly two- thirds lincluding related gift aid) was donated by individuals.the remaindercoming Irorn churches and trusts.The organisation has a core support base that has been committed to ourwork for a long time. whi5st new5taff broaden our donor base with their networks ofcontscts and supporter5. We benefit from committed sijpport from a Christian Trust.
D0cL19n Envelor¢ ID.. B7A421294Ac8483DwI44CO4sD2Y4 3. Leadership and Support Centre Regional Development Directorsandthe National Directorhavecontinuedto meet regulartyto over5eestrategy and ctjrrent issues,with the RDDS also having regularsupeNisK)n from the National Director. The Leadership Forum. which meets ljvoorthreetimeseach year, resourtssawiderset of Clusterand specialist Heads of Mir)istry leaders and Programme C(x)rdinators. Stragyhas been duallyfocusea on futuregrowth arsd specialist ministryareas. The Supportcentre teem.three full-timeand six part-time, seeksto providea hwJh level ofservicetostsff. affiliates, graduatetrainees, supporter& partnerchurches and trustees. In terms of ourongoing Telation5hipwith All Nationschrisiian Collegewherethe Support Centre issited,we maintsin a high level of interaction th stJdents and staff. Dullng 2026tleSupportCentrewill movgto Oxford,sharingwith othermi55ion agencies,asthe College is rtselfmovingsite. 4. Afflliate Network We continueto developthe Affiliate NelworlaimingtosupporLtrair( encourageand partnerwellwith aftiliates in theirlocal church rolesworkngarnong5t intema:ional studerys. Resourtss availabletoAffiliates include Cluster days and conference5, and resources inouding recordings online. We now have 87arfiliatesas partofthe networi some based internationally. 5. Trainlng and Development Training and developing ourstaff and affilh3tes tearr. is imwrtanttothe future of the organisation and ourwork A keyfixture isthe annual conference where staff. alfiliates. 9raduatetrain5 and others (such as Branch and Development Group members.TNstee5. retired staff. intemational and keystudentwsitor51 meettoshare experiences, best-practice, and leamfrom outsldespoakersakK)d1fferentaspects ol inter<ultural Ministry. There are Ioc81 and regional staff training days. andtraining eventsspecTficallyaimedatequippingvolunteers and Iixal churches. We believetraining is a core roleforFI and oneweare5klng togrowand develop. Prcte55es have been developed sotnatstasrcan identfyaaswherefdrthergrowth and deve opment are neeaed, aswell aswhe thoy might be ableto access the app". opriate iraining resources. 6. Reach Programme Thefocus of thistraining year isto invest inthelsves of youn9Christian graduatsswho show wtential in Christian ministry. The currentcohortof 9'Jainees11 ontheir second yearl staried inseptember The Reach Programme coordinatorand theirteam bring creativtyanda vi5'0ntobuildon the5tr0ng.oudat10n of the prDgr8mme. Aconsiderable p&rniageofeach Reach.Jainee cohortare',ntematy"onal,' we seethis programme as a means of discipling and trainin9 promising inteinatK)nal #Ludents whowill go onto be a blessing to chu,'ches around the world. Reacn alumni include chJrcli leaders inthe UKand rr.anyother partsofthewodd, aswellas returneesthrmng in theirlrKal churchei and still involved in International Siudent Minist-ryorsupport5ng retumees. We currenuy havea numberofstsff workers and ntre team leaderswhowere participants ofthe Reach pro9ramrne in earl',eryears. Grfffin Stone Moscrop & Co
Docusign Envelope ID.. 87A42129-IAC6.43?t)-qFEB-8144C045D274 7. Branches and Development Groups Branches and Development Groups exist to implement national strategylocally2longside staff. Theirethos is to beforward-looking and seeking to develop best practice. Key roles in which memberscor)tribute include strategic thinking,. networking across different Christian communities In a town orcity.. and encouragir)g partnership development. Key relationship5 are those ol the Chair. local CentreTeam Leader and Regional Development Directorworking well together. Branch training has moved online leading to a greater uptake and wider insights ir)to best practice. 8. Communications Communications are continually under reviewwith an aim to improved quality and impact.. we aim to be rnakirng the m05t of our resourcesto seNe those involved in international student rninistry. and to draw new potential staff,volunteers and supporters in. 9. Special Student Events Friends International and partnergroups initiated the Big Weekend Away event to replicateand build on the international student track we led at a previous larger event. This has now had twosuccessful years. drawing around100 international students and a substantial supporting team lor a lorig weekend of Bible teaching. seminars and fellowship to encourage the consideration of Christian themesamong enquirers and discipleship growih. The Philip Projecttr3ins future Bible teachers planning to return to theirown countries lor a day a rnonth through the academic yearar)d additionally run5 a training weekend. Through SLJbstantial work by the Project Coordinator the format has been adapted to a more flexible on-line delivery. There is also an onlirie portal 811owing students a moreflexible approachto learning. Philip Project has also produced a resource to help international Students read the Bible. Friends International staff spoke at a numberol Christian Union events weeks in 2025, and at individual meetings thioughout the year, helping international students to understand thegood news ofJesus. Griffin Stone Moscrop & Co
Docuslgn Envelope ID. 87A42129-4AC6433f*9FEB-8144C0450274 Financial Review The statement of financial activities (SOFAI for the year is set out later in this reporttogether with an arnalysisof funds. Our regulargilt income has increased by11.2°A with an increase in ourexpenditure 014.3%. Overall, there is a deficit ir12025 01 £76,. this includes legacy incomeof £48,302 and a property revaluation downwardsol E45.000.After transfers between funds to er)sure that the General Fund meets all under-funded staff there isa netdecrease in the General Fund in 2025 of £95,726. The financial policyol Friends International isto match and monitorlunding with expenditure requirements loreach area of minislryactivity. mostly focused on Centres A designatsd fund is therefore maintsined foreach venture which requires ongoing expenditure. It is acceptable to run with a current yeardeficit lora specific designated fLJnd, provided there are sufficient broughtforward reserrfes forthal particular Centre to ollsetthè loss. In 2025 designated funds increased by £95.650. Although some individual funds did decreaseduring theyear, this is mostly because broughtforward fund5 have been spent Regulargiwng increased Designated funds Iricfease by 11.2% 95K+ For General Fund incometo meet Central costs (which are primarily the Support Centre and majoritylunding ofthe senior managementteaml we have continued toaim to movebwardsa balanced position, most recer)tlythrough theappointmentof a Fundraising manager. Each designated fund is subjectto monthly monitoring and appropriate discussiorn where required with the relevant Staff member and. if nece55ary. their Supervisory Nanager. Beforework is started in a new locatiorTr. or a new member of staff is employed, it is the policyof Friends International to ensure thatthere is an appropriate level of pledged donorsupport. We continue to maintair) a Strategic Growih Fund which ha5 been resourced from theallocation of a portion of the substantial legacies received In recentyear5 aswell as the generosity ol some specific supporters keen tosupportthis venture. TheTrLJStees continue to seekto extend this Fund as part ofachieving new Strategic Hinistry Centres as well as extending training opportunities lor a newgeneration of ISM workers. Investment Policy The charity has freehold title totheir previous Support Centre office in PLStney, a small bul prime location in Southwest London. This office is up forsale and is shown on the Balance Sheet within'Properties held for resale,. Our second property. a residential building in Plymouth, was sold in 2025. We aim to use the proceeds ol property sales to createan endowmentfund. Liquid Investments The ir)vestment policy is to maintain a low-risk liquid position.The aim istherefore to maintain balance5 in accour)ts that attract market competitive deposit account bank interest butwith low-risk institutions. Thefund5 from the sale ol the properties will be invested in linewith this policy with the hope of an endowment fund being created. to enable us to provide moresUPPOrt to both the Strategic Growth Fund ar)d other Designated Staff Support funds. Griffin Stone Moscrop & Co cE¥[cNTANPITEpEPAUbIT£
Docuslgn Envebpe ID". B7A421294AC8433D4FEB-8144C045D274 Reserves Policy Our policy remains to hold sufficient unrestricted reserves (defined as 311 Urirestricted funds including designated funds but exclLJding fixed asset related reserves) in orderto protect the charity againsta sudden and catastrophic fall in donations and any related gift aid lor a period long enough to ensure a managed plan lorsurvival. merger orcessation Unrestricted reserves are held in both the genera5 fund (which bear$311 centr31 costsl as well as designated stall support funds (comprising funds designated on an ongoing basis lor both specific ministry centres aswell as lor individual staff workers working in a ministry centrel. Whilst the trustees are aware that all unrestricted reserves are availableto use attheirdiscretion in thè event of a crisis. It isconsidered appropriate that lor practical management purposes theTrusteeswIII undertake two levelsof monitoring.. l. Regular monitoring of central reserve5 required against general funds Icomprising all unrestricted reserves excludir)g designated funds). Thesefunds will be measured against both a minimum and maximum'central. reserve level when monitorin9 performance and setting future budgets.The intention is to never drop below a minimum level and actively consider action to manage excess reserves wherecon5idered appropriate. Such central reserve levels are calculated in order to provide a minimum of three months and a maximum ol nine months ol reserves to coverprojected SUPPDrt centre and national leadership costs. Asat31st December2025 unrestricted general funds stood at £575,51712024'. £671.2481 compared to a central reserve minimum at 31st December 2025 01 £177,000 and a planned rnaximum of £530,000. This includes the properties held lor resale, valued at a total of £455,000. Removingthe tangible fixed assets from general funds bringsthe balance onfree reserves down to £571,871. 2. Periodic review of both thetotal amountand profile ofdesignated staff supportfunds to ensure that they remain appropriate lor the use theywere designated forand to assess both the level and profileof lundir)g capability the charity has forongoing field ministry. As at315t December2025 designatsd stall support funds stood at £736,676 12024.. £641,026) which was spread across both ministry centres and indiwdual staff members. Having previously anticipated the General Fund (excluding the Putneyand Plymouth properties) falling belowzero, the Trustees and senior management team have been reviewing wherecosts can be saved and are pro-actively seeking to increase giving to the General Fund.There is nowa structure in place thatcan supportthe continuing expansion of the charity's activities. As at315t December 2025 the charity's asset5were available and adequate to lullil the obligations to the charityand the trustees considered the financial state of affairsof the charity at that time to be satisfactoryand in accordance with our budgetary expectstions. Plans for Future Periods: We intend to continue and grow ouractivities infutufft years, particuladywith a concerted effortto research ministry opportunities alongside churches and Christian student groups through furtherstaff worker posts SO that newand better resourced centres with the m05t international university Students are helped towards thriving International Student Ninistry. Through our Head5 01 Ministry we are developing ourapproaches to Learning and DevelopmenL Hard to Reach students. Returnees, Eventsspeaking, Mission Partnership Development, and Member Care. Structure, Governance and Management: Governing Document Friends International Ministries was Incorporated as a company Iirnited by guarantee and not having a share capital Inumber4500270) on 31stJuly 2002 and is a re9iStered charity with the Charity Commission Inumber10940951. It isgoverned by its Memorandum and Articles ol Association. Under UKcompany law, all the trusteesare directors ol the company. The liability ol the company's members in theeventofthe charity being wound up is limited toa sum not eXeding £10. Friends International Ministries isalso registered with the Office ol the Scottish Charity Regulator. Griffin Stone Moscrop & Co 9TEE£C¥rAryTSuREGITEIDIr1jo
DoCu¥n Envelo ID,. B7A4212NACPA33tk9FEU144C045D274 Appointment of Trustees Potentialtrustees are identrf,'ed from academia. business and Christian ministry backgrounds.The truste are appointed bythe board of Trus£esthrough an.'nvitstion, app'.icationand irnterviewprocess. NewTrustees are given keycharity Commission information on-,heirrFQnSibl1[lIeSand are encouraged toattend appropriats external tr8inin9wherethiswill facilitate the undertsking oftr.ei:-role.They uideroo sO.e induction ana are linked to more experiencedtrustees a5 needed to en.an-ethe1rSWrft integration.Weareparticulady focusing on therecruitmentol furthernewTnJsteesthrough 2026. Oryanisation The board of trustee5 meet at leas¢thrt[rneS a yearto reviewall aspectsof thechariws actp@rtie5.The board has established a sub-committeeto assistwiththe running ofthechartty, name ythe Executive Committee. responsible for meetingwith seniorstaff between trusiee meeting%and alsotsst(edwith specifically monitoring and managing thecharty'sfinances. Geoffreyspence, Sara Slaterand lan Roberts are membersofthe Executive cotttee. TTUStee Remuneration and Related Parties Noneofthetrustees receNe remuneration orotherbenefitfortheirworkforthechaiity.Therewere no related party transactions reported in theyearbetween the chantyand anytrustee.seniormanageroranyofthethird parties wth contractual relationshipswththe charity. Pay Policyfor Seniorstaff Notrustees received remuneration during 2025. Detsi150f trusteeexpensesaredisd05ed in note7to thefinancwl statements, The payofsenior management isreviewed annually usirKJ a stsndard formula benchmart(ed a1n$t published pay increase5 awardedtoClassroomTeacher5. Rlsk Managernent Thetrustees review ri51fj on a regularoAgoing basis and usea risk matrixtodefine keyrisks, as5essthem by -t before and arter mttigating action istsken. probabilEty and impa- Such revie tske placèwth nthetwo board sub-comm.:ttee5 and in periodic rewew by thewhDle Board of key risks.The followiNg are COnderedt0 be imwrtant Rsks requiring Board and Senior ManageTrientfocus during 2026.. Riskol inadequate reserves.. Exduding legacy incorne.therewasafall in general fundsduring 2024and 2025 which has beèn addressed in part byanongo":ng reviewof howto increase income and reducegener&l fund expenditure. Riskof failing to facilFtate ISM in those areasof the UKwherethere isa largeinternationèl student populatior). This requires identification of those I"(Swere current ISM isdefjcientrelativetothe numbers ofstudents and then focusing newministry Investent in such areas in orderto build effective churc4 partnerships supported by our Staff. Plans and 5trategieshave beenfomulabj toeriable this to hapt)en. We continue to review prevailing pressures in wder5(Kietyto complYh slaItrendSarnd toassess howb remaintrueto our Chnstian conviu.ions in the lig%tof these. Cjiffln Stone mCroP & Co
Docutslgn Envelope ID.. B7A4212ca0-9FE144C01SD274 Board Governance The board has reviewedthe level of salaries forall staff,espeualtythoseatthe lowerendofthe pay scale. Trustees, Responslbilitles The trustees (who are also directory of Friends Intemational Ministriesforthe purposes ofcompany lawl are respon5ib.'o for preparing the Frustee5' Rewrtandthefinancia, sts-Éments inaccordancewith applicable lawand United KingdomAccounting Stsndards (Unted Kingdon GenerallyAccepted Accounting PraeLicel. Companylaw requiresthetNstees LO preparefinancialststementsforeac4finanoal year. which givea true and lair view ofthestats ofaffairs of the charitsble companyand ofthe incoming."esou".cesand application of resour$, including the incomeand expenditure. of the char(taolecompanyfortheyear. In preparing these financial statements, thetrusteesare required to.. Selectsuitable accounting policies and then applythem consistently. Observo the methods and principles inthe cha.leSsoRP. Makejudgements and estirnates thatare reasonable and pwdenL Ststewhetherapplicable UKAccounting Stsndards have been followed. subjectto any material departures. disclosed and explained in thefinanaal ststemen Preparethefinancial statements on thegoing concem basisunless itls inappropriateto presumethatthe charitablecompanywill continue inoperatiork. Thetrusteesare responsiblefor keeping properaccountivJ records thatdisclosewith reasonable accuraty at anytime thelinancial postiion of the charitsblecompanyenabling them Soensure-thatthefinancial Statements complywiththe CompaniesAct2006.Toalsosafeguard theassetsofthecharitsble companyand hencefor taking reasonable 5tepsforthe prevention and detecbonoffravd andother irregularitie& Auditors Aresolution tore-appoint Grtffin Stone MI¢rOP &Co. CharteredAccountsnts ar)d 5tstutoryAuditors.will be proposed ata meeting of thetrustee& Statement of Dlsclosure of Infomiation to Auditors We. the directors ofthecompanywho held officeatthedateof approval of thesefinancial statements, assetout above, each confirm 5018raswe8re avrdre.that' There is no relevant auaitinformatK)n ol whicht4e cfr*,aritablecompanrfsaudtiors are unaMrdre,-and Thetrustees havetsken all stepsthattheyoijghtto liavetsken to Makether1¥es awareofany relevantaudit information and toes=ablishthat theauditors areaware of thatinformation. This report ha5 been prepared in accordancewTth tb.especial provisions of Part15 of thecompanies Act 2006 relatiig to small companies. Approved oythe Board o'i TJWStees on20th March 2026and s',gned on its behalf by. GEOFFREYSPENCE CHAIR OFTRUSTEES Griffin stone Moscrop & Co
Docusign IDvelope ID." B7A42129.4AC6433D-9FE8-&144C045D274 friiends Visit us online: www.friendsinternational.uk Email us at: info@friendsinternational.uk Friends Intemational Ministries isa chartyregistered in Eroland andWales11094095)'_ and inscotland (SC0488381, and isa companylimited by guarantee {04500270)
DOcu#n En¥8bpa ID.. 87M21294ACW3WEB41MC045D274 FRIENDS ltERNAT104L MINISTRIES STATEMENT F FINANCNL A TIE LUDING THE INCOME AND PENDITURE ACCOUNT EN D31 2025 IN FO EMB Utvestr5ctsd Fund8 O•slgnatsd Stsff Support Fund Total 2025 Total 2024 G8nernl Incom0 from.. Donation5 and grfts Logacles 141.316 48,302 2,8.581 2,741,8TI 48,302 2,465.602 9,175 CharStsbl? activlties.. Training evènts and lrterature sales 54,318 48,191 102,507 69,618 Investm8nt Income 38,480 Othar income 165 Total In¢om8 264,799 2,648,752 2.913,551 2,603,240 Expendkure on.. Fundraislro costs Charitable activitlos 69.475 201.310 42.492 2.555,350 I11.7 2,756, 69,010 2,671,731 Totsl •xp•ndituro 270.785 2,597,842 2,868,627 2.740,740 Netl¢xpendthr¥ylncom• belwe revaluation of inv•$tmnts 15,986} 50,910 44,924 1137,5011 R8valuation of property held for r•sale 145.CX]01 145.0001 5,000 Net l¢xpgndltur¢WtKom# 150.9861 50.910 1761 {132.5011 Tran8f8r between funds 144,7401 44,740 Net movement in fuThd8 195,7261 95.850 1761 1132,5011 Total funds bmught forward 811 January 2025 871,248 841,026 1.312,599 1,445,100 Total fund5 ¢arried forwar(l at 31 D8CeTnbor 2025 325 575.517 736,876 1,312,518 1,312,599 All of t1 above resuLt8 ar8 derived from continuing athits. Thts statemont of fjnanci aetfvities indudes all gains and knsses recogn8 in above periods. Th• attached notes form part olthese fin8noal statemgnts. P1 CJiffin Stone Moscrop & Co
Envekipè ID.. B7A421294AceA33Lk9FEU144C045D274 FRIENDS INTERNATIONAL MINISTRI BALANCE SHEET om istratson uner 450 270 31 DECEMBER 2025 2024 Flx•d a$sots Tangible fixed assets 10 3,532 3.532 Curr•nt ass&ts Debtors stock held Current asset inveslmenls- proporties held for sale Cash at bank and in hand 107,050 5.927 455.000 818,876 108,067 4.211 705,000 542,038 12 1,386.853 1,359,316 Creditors.. amounts falllng ¢Jue ithin one year 13 77.980 50,249 Net currgnt aets 1.308,873 1,309,067 Net assots 1,312,518 1,312,599 Charlty Funds: Unr•strlcted funds: General fvnds Revaluation r&serve relating to fomwr investhnt propwty Designated funds 179.899 395,818 736.676 275,630 395,618 641026 1.312.193 1,312,274 Rgstricted fund 32S 325 Total funds 14 1.312.518 1,312,599 Approve<l by the board of Tnsstees on 20 Marc* 2026 and signed on Tts behalf by: GEOFFREY SPENCE CHAIR OF TRUSTEES Th? attached notes form part of Ih8se financlal slatements. P16 Griffin 5t(x)e Moscrop & CD
Docu81Gn Envelope ID.. 87A4212&4AC8433D.èFEB4144C045D274 FRIENDS INTERNATIONAL MINISTRIES STATEMENT OF CA HFLOWS FOR THEYEAR ENDED 31 DECEMBER 20 202S 2024 Cash used In operatlng a¢tivltles {5ee below) 256.683 {214,640) Ca¥h flows from Investing activltles Invostment incon 20.865 12.7121 38,480 13,096} 300 35,684 Purchase of tanglble fixed 893ets Procèeds on sale of assets Cash providod by investlng a¢tlvitio$ 18,153 Cash flo from flnanclng activitios Cash divestment from short-temi deposlt 1250.831) (4,7511 cash used In ffinanclng a¢tlvltle8 {250,8311 14.7511 Increa8ellDecrea8&} in cash and cash equivalents in the year 26.005 1183.7071 Cash and cash equivalents al the beginning ofthe year Total Cash and cash ¢qulvaltrnts at tho •nd olthg year 185,988 369,675 211,973 185.968 ReGoncillatlon of not Incomg to net ush flowfrom operdting a¢tlvlUes Net incomellexpenditure) Arjd back depreciation charge Add back105s on disposal Deduct interest income shovm in invesknent activities Deduct rental income shovm in investsrnnt acbwtses Sale of property held for resale Decrease I lin¢re8se) in value of property held for resale Increase In debtors Reduction I lincreasel in stock Increase l (decrease} in creditors (761 2.598 {132,501) 2.330 120,8651 (17,3471 (21,1331 205.000 45.000 1,015 11,7181 27,729 15,0001 (33,8391 2,487 (9,8351 Net ¢gsh used In operatlng actlvitigs 258,683 {214,6401 Analy819 of net ftjnds Balance Movenwnts 1 January 2025 Balance 31 De¢ernber 2025 Cash at bank and in hand {see note 111 Cash en deposit for more than three wnthS (see note 111 185,968 356,072 26,005 250.831 211.973 Gc,903 542,038 £ 27S,836 818,876 P17 lffin Stone M05crop & Co
Dofatstgn Enveknpo ID.. B7A421294AC6433D-9FgM144C045D274 FRIENDS INTERNATI NAL MINlSfRIES TO THE FINANCIAL STATEMENT 31 DECEMBER 20 1 A¢countiry poll¢lo$ a) Basis of preparatlon of financial statsm•Thts The financlal statemerts have been prepared in alxordance Accounting and Reporting by Charitiès: stateffEnl of Recemftnded Pracbce applicable to charities preparing their accounts in accordan with the Financlal R8POrting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191 ICh8rrties SORP (FRS 1021}, the Flnanaal Reporttng Strandard applicable in the UK ond Republlc of Ireland IFRS 1021 and the Corrpanies Acl 2006. The chartty ns11bjteS a public beneffit entity as defined by FRS 102. Assets and liabilities are Intielly recognlsed at histori1 cost or transaction value unless Oth8Se stated in the relevant accounting policy notelsl. bl Fund AOuntIng General fvnds are unrestricted funds vdhlch are available for use at th8 disuetlon of the twstee$ in furthèrance of the general obj8Ctives of the Charity and vknich have not been de&gned for other purposes. The designaled fijnds comprise unrestricted fund$ that have been set aside by the trustees for sperific purposes, as set out in the notes lo the a¢counts. The rèsth¢ted fvnd finances the support of intematsonal students from a seitiVe and challenging context during their sludles here in thè UK. cl Incomo DDnations and gifts are refflècted in the flnancial st8tenwls in the period in vthlth they are r•ved. Incorne tsx recoverable in resped of gift aid donations 15 brought into account in the $ame perlod as the relevant donation. Grant income is recognis8d in the finarrial statements in the wiod in vthich the grant offer is madè. For legacies, entitlement is tsken as the earlier of the date on thich either the charity IS 8ware that probate has been grantèd, the estste has been finalised and nr)lffication has been made by the executorlsl to the Charity that a distribution wll be rrrade. cf when a distribution is received from the estate. Receipt C¢f a legacy. In whole or in part, Is only Gon5idered probable when the arTV)unt can be nwured reliaNy and the ¢harity has been noUfied, or the charity is a%Ydre tsf the grantiny of probate. dl Expondlturn and irrn¢ov8rable VAT Expenditure is charged to the Statennt of finanaal acb"wties on the aecruals basis and 15 minly allocated acros5 activitles based on staff tinE. Fundraising costs include all costs inv(Aved in raising income and in raising the profile of the tharity. Charitable acb'vit'es a fijther analysed in rte 4 and are split befven direct charitable expenditure, 5UPPOrt, management and aijminislrab'on costs and govemance costs. Support costs are Ihose costs incurred indirecuy in support of expenditure on the objects of the charity or in connection the managèment and administration of the charity. GOvernae costs reflect the costs of cOThylng with ConltiOnal and statutory requirements. Irrecoverable VAT is charged as a cost against the activity for vkni¢h the expendilure bfds incurred. el Tangibl flxed a$s•ts and dgproclation Depreciation 15 provided on tangible fixed assets at the following rales per annum so As to write off each asset over 11$ estiffoled usefvl vK)rking lrfe.. Furnllure antl equipment - 20% straight line Computers and peripherals 33% straight line fj 0ratIng 1oase$ Rentals payable under operating lease8 are charged on a straight line basis ovw the lease term. gl Stock stock has been valued 01 the loer of cost and net realisable walue. h) Currnnt as8•t Imiestrnents Current assèt investnnIS are initially measured at cost and are subsequentty re•measured at their fair value except where they qualify as basic financi inStrur. P18 Griffin Stone Moscfop & Co
tk)cuÈkJn En¥8bpe ID.. 87M21294A¢8433NFEU144C045D274 RIENDS INT NATIO NISTR ES NOTE TOT INANC ATEMENTS- 1DEC BER 25 Co 1 Accountlng pollclos Icontlnu8d) il Penslons Tle charity makes payments to defined contribution pensi scheme$ for the bonefil of Its èryloyees. ontributions charged dudng the year are vntiten off as Ined. 11 Expenses of trustees TNslees are relmbursed neces33rfly-incurred expenses. These are induded in the appropriate calggory of resources expendgd. k) Dèbtors Trade and other debtors are recugnlsed al the sethenth aThw)unt after any discount offered. Prepayments are valued at the amount repaid net of any discounts due. l) Cash at bank artd In hand Cash at bank and in hand includes cash and fixed term depDsits of varying lengths. The statement of cash flows ¢)nly reflects Tmvements wlhin bank accounts held vknere the mn&y can be accessed valhin three month$ of the date of opening the dep081t. An analysis of sh at bank al the balance sheet date, differents"ating bebheen deposits which mature 3 nnthS after dale of opening and cash accessible wthin the months is provided as note to the statement of cash flows. m} Crodltors Creditors and proisions aro TegniSed th8re the Chadty has a present obligation re8ultsng from a past event that 11 probably result in the transfer of fvnds to a third party and the amount due to settle the obligation can be asured or estimaled reliably. Creditors and provisions arè nOlY recognised at thelr settlement ankiunt after allowng for any discounts due. n) Taxation Friends Intemational Ministries is a regiwed charity and no tax IB payable on its net Inco. o) Flnancial Inslrum&nts with the exception of the current ass&t investrrtnts, the chanty onty ha$ finan¢i81 assets and ffinancial liabilfties of a kind that quallty as basic financ1 instruments. Basic financial instruments a initially recognised at transaction value and subsequently m8asured al their setdemenl value wth the excep0 of bank loans uthich are subsequently measured at anwrts5ed cost Un9 the effecb've interest mèthod. Griffin Stone Noscrop & Co
Dwslgn En¥8bp& ID.. B7A421294AC64339FEB-8144C04sD274
IN
2 Incorne
DeSIal]
nd
Tota 3)U Totsl 2Q14
DOnaorL8 and grft
DcationS
Gra
48.429
2.421,W5
179.S26
2,489,484
272.413
2,511,1
Lal9&
48,302
9.175
TrslnlrKJth AThJlttw2lure sa
Confwence InGtsnÈ
é ol litualure
Inmme [frt anVItieS
47.88
47,988
8,428
48,1r11
44,863
4,782
38,973
48,191
Bk dap0511 inl$re8t
Prbryeai rerld r4vd prorhj
2D.865
17.347
16S
£ 24a.799 £ 2,fjK752 £1913,1 £ 2,803.24D
3 Tow gxpendtti
Palf Bujwt 2D21 Tot•1 2024
FuthlvingCQ115
Staff wsts
rre¢t PR Golt
Alccayan ¥POrt &M£(ts
34.985
25.951
8,088
.941
6S,941
8.073
5,589
69.475
41492
111,967
69,010
Ch&rit&ble atte5
SlaN w81s-dlr¢ct
siaff¢or.5 a SUPW13drnln 018
Conf4¥& rraGource G05ts
Trarf. traiiTrJ &4thsr costs lt lo 4art
Grants payabl8
SuprKrt ManagthI &&knln costs
GovematKecosts
11119)1
148.689
99.935
18T.785
2,111WI
148.e89
164.174
2.018,905
141,432
125 802
257.155
13.571
1018
10,
83,775
12.59B
0&.615
12.59
2U1.210
2.55S.SW 2,756,66D
1671.731
£ 27Q.785 £ 2.597.842 £ 2,688.827 £ 1740.741
Durfw fv yex tho ¢haty'8 heAd cffte %tr3s baJ * PJI N¥( Ctrn5tisn Hutf
Docuslon Enveknpe ID.. B7A42l2g4AC33gFEB4(44colSD274 ST 4 AnAtysLg ol gov•rnanc04nd ¥uppgrt ¢osts Oovomanco Tofal 2025 Total 2024 Re Repairs. rate8 ulltyccÉts for pYopeth5 hekl ftrt$8 22.5 22.596 21,656 8,476 67,046 6,716 68,062 17.153 86,062 17,153 Leg818no professhjnal costs Con8Lltancyfees Audilorts rernutwalK Cosb relalTrJ to Itustees. meelkngts 8.562 4.038 8.2 4,036 3,623 £ 109,815 £ 12,598 £ 122,413 114.860 5 N¢t•XPondKuvg The total Iw nete]yerKlituw of£78 (2W24..£132.50115 5tth alier ¢JwwJ'. Audrtu'$ renyjwation. h to &MJland Ststem8ntsddoaure$ 8.562 7.343 Depreal0 Operating kgse rewal$. land lId 2,598 22.596 2.330 21.656 6 kntyxls •ftstall co818.tnJ8ts9 •rrtl•xpw••&artd tho t1 of Porsonnql sal85 Nalknnal IrurKe PensKbn costs 1.891,570 198080 208,894 1,840,036 155,715 199.571 £ 2.298.544 2.195.322 Averagel ofeMe$. ared bYfiwW,Vs aslolm". Chwlable acl(yth5 FUnrnn9 Adrnlnhtratknn 81 No emoYseearnOd muethan £80,000 Q024.' sarne}. The Irustaèswve notpaid or receThe¢J arry olhpr be[fim the carttyknlhe Farl2W24'. sam81. The key rnanagent of the charty cornprtses fv nthn drectcrf, 4 regmal de%8lopment dectors (2024 '. 418nd Me financ8 marger. Tha totsj emF4DJEe treA$ ofkty manageMlInn81 fwthe chartywErn 83.29s{2024. f257.473I. 7 Tru8te05' eXPOTtsOS Tra1 gnd othereynsuof£128wÈ pakl to1[loat to attend m8eWw#Y wetthc4nyoLA thr go%manca reSponba812iI24". £4351 8 Porstslm ¢osts The chartyoper21e8 defmed cor4rbJkn thmes (xntrWknnsot£208,894 w¥e pJ m the swl2024.. £199,5711. 9 Brnnche5 The chartyhas 2012024.. 201 branr8thrWts UKth gemrfe iTr>JmeaNJ (*rryoLAaclhth$ LXI tehaKOftt ch8rty. The accounts oflhÈ branthès are al a local I1 aretlw lrta chaWsfnarKiaJ slatements. In 202S the brath$ ¢ontrbLrt8d net In¢1j re5cwces of 8.74812024: rEt fft8OLrees £9.0751. P21 Griffin Stone M(croP & Co
Docu5 Envelop? ID: B7A42I2g4AC6433D4Ml44C0IsD27d RIENDS INTERMATIONAL MINISTRIES STATEMENTS- 310ECEMBER 2025 Fl Co 10 Tanglble flxed astets Fumllure & 04ulwnt Comput•rs & Pertpherals Total Cost At 1 January 2025 Addition8 in the year Dlsposals in the year 6.674 23,453 2.712 7,221 30,127 2.712 7,221 At 31 D•cemb•r 2L>25 6,674 18.944 25,618 DepreuatK)n At 1 January 2025 Charge for the year Disposals in the year 8.179 20,418 2,104 26,595 2,598 DoprecA8tion dlmination on disposal 7,221 .221 At 31 D¢¢ember 2028 6,674 15,298 21,972 Nel book vglu¢ Al 31 Decernbgr 2025 3,646 Nel book valL At 31 December 2024 3,037 3,532 11 Dobtors 2025 2024 Tax TecoveTat4e Prepayrngnts [ other debtors 21,729 85,321 14,752 93,315 107,050 1(,(7 12 Propety hold ft*r rèsalè 2025 2024 Crescent Stsbles, Pulney Mount Gould Road, Ptymoulh 455,WJ 500,000 205,000 455,(X)0 £ 705,000 Cre8¢8nl StabJ&s, PUtY avaLable for immedts sale in the present )rKIts 8ntJ has had an offer acLepted Dfthe value Ilsted. The salé is tsxpethd to b& ¢Orry) t"n 12 rnorrth 13 Crndltors.. amounts lamlng due wlthln ong yo#r Trade creditors Taxation and social security co818 Other uedilors P8nsion creditor8 Accruals and deferred Income 2025 2024 2,580 41,666 8,073 32.933 18,188 15,546 10,e47 77,980 50,249 P22 iffin 5toneMoscrop & Co
Docuslon Envelope ID.. B7M21294AC6433WE&8144C0450274 STOTH S-31 14 Anaty818 of not 8858t8 UThT¢thctod Funds Resbict Dagnated 8taff Fixed &ssel$ Current assets Current liabilities 325 608,186 (36,3141 T18.342 141,6861 1.386,853 In,9801 325 £ 575.517 £ 736,676 1,312,S16 Doslgnated Btwff ¥upportfvnds These funds con51St of donation5 and gift Income re£lved plus ftwY5 Èel agde OLrt of Urethd frjnts for staff wpport. Tlk b818ncas on IndlvlduaNy designated fund5 are review r8gul8rty. an anrwal b#sk% FInan Comrnittee will detetmine t extent tD transf from Ihe general fd ShOd be made to el that Ihe (xrying value of individual staff $upport fwd balanc68 are re¢o¥8fab16. Followiw this yeatrs rev1 an a9wwafe transfer of £44.740 rn4de frtyn fur to desgnated funds DB refiected in Ihe SOFA.12024 .. £89.2001 RwtrJctsd The charity h&5 orE rBStrided lund, arnl IhÈ movements onth.sfcf 2025 ore on face of the SOFA Thb re5trKed fund ftn8n the suppDrt (trf intamational students (rom a sertiVe rtlrd C¥18x{ during th8r4tt#Jieshe in UK 15 Oporatlng I¥ ¢4mmltsw At 31 De¢gmber2025 the tharity had txxntnkniBnt io make the InInrn ka payynents uTrJar & n-ce10we Se.. 2025 2024 PrnFty FrankiT¥J madxne 15. Ptopety FIEnn9 machlne 14,816 Not lalerthan 1 year Later than 1 y8ar aNI not18terthan 5 yea ExplrfrJ afterfive years 1,33D 1.9 15.560 1,995 14,B16 2,660 G1ft5 frum tru&tees of the tharityto1d £8,40112024.' £9.334). 17 Post ba1)n $h¢¢t ¢¥t The charity has been nolfflÉd that il 18 the 10% beneficiary of on e*e that Is¥a1ued at over£1.5n. At Ihi5 Stage IherÈ18 Th) confirmed value aftertan9 Inlo account sales ofas%ets lxlS itwred so no ¢J8btor has been inLlu(W 1th1n thesefigwes. The legaty income has been grfted to the General Fthj and bwteesill reCogne 1rKxxethntt amount can be rneasured lIaty. P28 Griffin Stone M(scrop &Co
Docusbn Env&Jp8 ID.. B7A421294Ac6433D-gFW144C045D274 FRIENDS lfERNATIONAL MINISTRIES -31 DEC BER2 NOT TH FINAN L STAT Conti U8d 17 Ststsmont of Flnanelal Athll19¥ for thè year endod 31 December 2024 UnTostrl¢ied Funds Oeslgnated Stsff Support Funds Fund Total 2024 Ggnernl Incom8.' Donations and grft8 Legacy charltab acbvitEs.' Training evants and literthjre sales Inveslm&nt Income 81 130.788 9,175 2,334,955 2,465,802 9,175 39.972 89,618 38,480 165 38,480 165 Other incoma Total Incomo Expèndlture.. Fundiaising costs Charitable aCtI7be8 61 228.252 2,374,927 2,603,240 28,184 180.885 40,826 2,477,269 69.010 2,671,731 13,577 Total expèndlture Not1gxpendltur•)llncomg belorn revaknatlon of Invg$tmènt8 RevaluatK)n of property held tor resa 13.577 209,(69 2,518,095 2.740,741 113.5161 19.183 5,000 1143,1881 1137,5011 5,000 Net lexpendltur•yln¢on Transfer between funds {13,5161 pi 24,163 169,200} (45.0171 1143,1681 69,202 1132.S01} Net rnOV8m•nt in funds 113,5181 (13.9861 1132,5011 Total fund$ brought forward at 1 January 2024 È 13,843 716,285 714,992 1,445,100 Totsl funds earned foTr¥8rd at 31 Decemb&r2024 325 671,248 641.026 1,312.599 P24 Griffin Stone M(CroP &Co
Docwlgn EnvelDpe ID: B7M212fv4ACDFEB4144co4SD274 Independent Audltor's Report to tho Trustees of Frlends Internatlonal Mlnlstrles Opinlon We havo audited the financial statements of Fiiends Intemational Ministries (the 'charitsble company'l for the year ended 31 December 2025 which comprise statement of financial activities, balance sheel, statement of cashflow and notes to the financial statements. Including a summary of significant accAiunting poliryes. The finanaal reporting framework that has been applled in their preparation is appli¢able law and United Kingdom Accounting Standards, induding Financial Reporbng Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Untted Kingdom GenerallyAccepled Accounting Practice). In our opinion the finanal slatements.. glve a true and fair view of the state of the charitable companvs affalrs as at 31 December 2025, and of its incoming resources and application of resourc8s, including its income and expenditure, for Ihe year then ended., have been prop&dy prepared in accordance wlth United Kingdom Generally Accepted AOUntIng Practice., and have been prepared in accordance requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulatlon 8 of the Charities Accounts (Scouand) Regulations 2006. Basls for oplnion We ¢onduct8d our audit in aGfJ)rdance wtlh Intemational Stsndards on Auditing {UK} (ISAS {UKI} and applicable law. Our responsibilities under Ihose stsndards are further described in the Auditor's responsibilities for the audit of the financial statements sectlon of our report. We are independent of the charitable company in accA)rdance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilitl8s in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinit)n. Concluslons relating to going ¢onc•m In auditing the finanal statements, we have conduded that the trustees, use of the going cOnM basis of accounting in the preparalion of Ihe financial statements is appropriate. Based on the work we have performed, we havg not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charitable companls ability to conlinue as a going concem for a period of at least twelve months from when the financAal slalements are authorised for issue. Our responsibilities and the responsibileS of the tnjstees wih respect to going concern are described in the relevant sections of this report. othèr Informatlon Th8 other information Comprises the infonnation induded in the trustees annual report. other than th8 financial slatemenls and our auditor's repori thereon. The trustees ar8 r8spon5ib for the other infotTnation contained wtthin the annual report. Our opinion on the financial st8tements does not cover the other infomation and, excepl to the extent otherwise explicitly P25 Grfffin Stone Mos(Top & Co
Docu¥kn Envdope ID.. BrA42124AC33D-144cO4SD274 slated In our report, we do not express any fom of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wrth the financial ststemenls or our thowledge obtained in the course of the audit or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparent malerial misstatem8nts, we are required to d8t8rmine whether this gives rise to a material misststsmenl in the financial statements themselves. If, bas6d on the work we have performed, we condud8 that there is a material misstatement of this other infomation. we are required to report that facL We have nothing to repori in Ihls regard. Oplnlons on other mattors prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course ofthe audit: the infomiation given in the trustee5' report (In[pOrating the directors. report) for the Inancial year for which Ihe financial ststements are prepared Is conslstent wlth tho financi81 stBtementS', 8nd the directors, report has been prepared in accordance wth 8ppluble legal requirements. Matters on whlch we are requlred to report by exceptlon In th8 light of our knowledge and understsnding of the chaiitable rx)mpany and its envlronm8nl obtained in the course of the audit, we have not identified material misstatements in the strategic r8POrt and the directors. reporL We have nothing to report in respect of the followng matters in relation to which the Companies Act 2006 and the Charttios ACUnts {Scotland> Regulations 2006 require us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the truslees, report., or the charitable company has not kept adequate accounting records,. or the financial statements are not in agreement with the accounting records and retums,. or we have not received all the infomialK)n and explanation5 we requir8 for our audit or the Irustee5 were not entitled to prepare the ffnancial statements in aco)rdanc8 with the small companies, reglme and tak8 advantage of the small companies, exemptions in preparlng the directors, roport and from the requirement to prepare 8 stralegic report. Rasponslbllities of truslees As explained more fully in Ihe trustees. responsibilitses Statement. the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the fin8ncAal statements and for being satisfied that they give a true and fair vlew. and for such internal control as the trustees delemiine is necessary to enable the praparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financi81 ststements, the trust8es ar8 responsible for assessing the charitable company's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend lo liquidate the charitable company or to ase operations. or have no realistic altemative but to do so. Grlffin stLe Moscrop & Co
ow5n Envelope ID.. B7A42t2c33D-9FEB4144cQ4S4 Audltor's responslblllties for the audit of the financlal statements W& have b88n appointed as audilor under section 44111{cl of Ihe Charilies and Trustee Investment (Scotland) Act 2005 and under the Compani8sAct 2006 and report in accordanc8 with regulations made under those A$. Our objectives are to obtain reasonable assurance about whether tha financial slalem8nts as a whole are free from material misstatemenl. whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit c4)nducted in accordanc8 With ISAS (UK} will always delect a material misstatement when tt exists. Misslatements can arise from fraud or error and are considered material if, individudly or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of Ihese financial statements. Irregularitles, Includlng fraud. are instance5 of non-mmpliance with laws and regulations. We design procedures in line with our responsibilibes, outlined above. to detect material misstatements in respect of irregularities, including fraud. The specific proc8dures designed and implemenled to detsct irregularitses, induding fraud. are detailed below: Perfomjing audit worf( over the risk of management override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the ratlonale of significant transactions outside the nomial course of business and rewewing accounting estimates for bias. Carrying oul substantive checklng to supporting dum&nIS on a samp18 basis of individual transactions wthin income and expenditure to give comfort that on a sample basis the SOFA does not contain any irregular ttem5-, Carrying out walk-through testing to verify that the chartty's accounting systems and controls ar8 being implemented as designed. Verifying the eStence on a sample basis of individual employees on the payroll., Verifying that material balances wtthln the balance sheet are supported by third party evidence to confimi the existence and valuation of these balances al the balance sheet date,. and Enquiry of management and those charged with govemance around actual and potential likngation and daims. Because of th& inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstalement in th@ financial sla18m8nts or non-compliance with regulation. This risk increases th8 more that compliance wtlh a law or regulation is removed from the events and transactions refiected in the financial statements, as we will be less likely lo bacome aware of instances of non-compliance. The risk is also greater regarding irregularibes occurring due to fraud rather than error. as fraud involves intentional concealment, forgery, collusion. omission or misrepresentation. As part of an audit in accordance with ISA8 IUKI, we exercise professlonal judgment and maintain professional scepticism throughout the audit. We also= Identrfy and assess the risks of material misstatement of the financial ststements, whether due to fraud or error. design and perfomi audit procedures responsive lo those risks, and obtain audtt evidence that IS sufficient and appropriate lo provide a basis for our opinion. The risk of not d8teckn.ng a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omissions, misrepres8ntations, or the override of intemal control. P27 Grfffln StnnÉ Mos<rop & Co
Dow$ign Envebpe ID.. B7A4212MAce433FgB-8144Co4sD274 Obtain an understanding of inlemal cA)ntrol relevanl lo the audit in order to design audit procedures that are appropriate in the rCUMstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and lated dlsclosures made by the trustees, Condude on the appropriateness of the Irustees. use of the going concern basis of accounting and, based on the audit eVIden obtsined, whether a material uncertainty exists related to events or c£Jnditlons Ihat may cast signtficant doubt on the charitabl8 company's ability to coni'nue as a going concern. If we condude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financlal stat8m6nts or, if such disclosures are inadequate, lo modify ouropinion. Ourcondusions are based on the auditevidence obtained up to the dat8 of our auditor's reporL However, future events or conditions may cause the charitable company to cease to continue as a golng con(*m. Evaluat8 the overall presentstion, structure and cont8nt of the finanaal statements, including the disclosures, and whether the financial stat8ments represent the underliing transactions and events in a manner that achieves fair presentation. We wmMunite with those charged wlh govemance regarding, among other matters, the planned scope and timing of the audit and signtficant audit findings. induding any significant deficien¢ies in internal control that we identsfy during our audrf(. Use of our report This report is made solely to the charitable compan8 members. as a body, in accordance with Chapter3 of Parl 16 of Ihe Companies Act 2006, and to the charitable company's trustees, as a body, in accordance wth Regulation 10 of the Charities Accounts (Scotland} Regulations 2006. Our audit work has been undertaken so Ihat we might state to the charitable company's members and trustees those matters we are requir8d lo state to th8m in an auditor's r8POrt and for no other purpose. To the fijllest exienl pennitted by law. we do not accept or assume responsibilty to anyone other U Ihe charitable company, the charitable CoMpanS members as a body and the charttable companls trustees as a body. for our audit work, for this report, or for the opinions we have fomed. Robert Smith FCA {Senior Statutory Auditor) for and on behalf of Griffin Stone Moscrop & Co. Statutory Auditor 21-27 Lamb's Conduit Street London WC1N 3GS Dat9= 27°a z P20 Grfffin St(e Moscrop& Co