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2025-03-31-accounts

EUROVANGELISM

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Registered charity no. 1140592 Company limited by guarantee no. 07507682

EUROVANGELISM

INDEX TO THE ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

CONTENTS PAGE
Trustees Report 1 – 10
Legal and administrative information 11
Independent Examiner’s Report 12
Statement of Financial Activities 13
Balance Sheet 14
Statement of Cash Flows 15
Notes to the financial statements 16 - 35

EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

Our mission is to work with Christians in their vision to share the gospel and see lives transformed through compassion, evangelism and church planting in Eastern Europe and the Balkans.

We do this knowing that:

  1. God sees more than we do and is inviting us into that which he sees (John 5:19)

  2. He asks us to start with what we have, from where we are (Proverbs 3:5-6) and

  3. He will make his ways known (Proverbs 3:5-6, Psalm 103:7)

We do this by working to:

  1. Deepen & strengthen European partner relationships to effect change in Europe

  2. Inspire and equip mission-focused Christians in the UK

  3. Strengthen our foundations so that we can continue to be effective in what God has called us to

Eurovangelism is a Christian charity which supports the local church in Europe in church planting, evangelism, education, and social care projects. It has been working in Europe since 1965 adapting to the changing circumstances to best help the local church. Eurovangelism supports 60 individuals, churches, and Christian organisations in eleven countries through finance, church partnerships, relationships, practical teams, networking, and advice.

We are pleased to report that income for the year under review grew when compared to the previous year by 18% largely due to a significant legacy as well as increases in income from churches and other grants. This means that we have been able to maintain support and even increase some areas of support to some of our partners. Some of our partners continue to serve those affected by the war in Ukraine through work to support refugees. All our partners have been impacted by the inflationary pressures of the last few years and TEN has reviewed support to help us address this. Expenditure has matched income in-year and although down on last year, this is largely due to exceptions such as capital projects awarded funding in the prior year.

We thank God for every one of our partners and supporters, without whom none of this would be possible, and with whose help we are able to see lives transformed.

Structure, governance and management

Trustees and organisational structure

Eurovangelism is registered as a charitable company limited by guarantee with the Charity Commission of England and Wales (number 1140592) and with Companies House (number 07507682). Eurovangelism is governed by Articles of Association adopted on 27 January 2011 and operates as Transform Europe Network (TEN). Our website is: www.ten-uk.org

The Board of Trustees appoints the Chief Executive Officer and new Trustees according to the needs of TEN. Trustees usually serve up to three terms of four years and receive an induction and ongoing training according to the needs of TEN and the individual. The Board is responsible for the governance and oversight of TEN and meets quarterly with occasional strategy meetings and online conferences as needed. Trustees are not paid for their service in this role, other than reimbursed expenses, and none had any financial interest in any transaction with TEN. A register of Trustees interests is held to ensure that there are no conflicts of interest, with the register updated annually. There are no Persons of Significant Control.

The CEO is responsible for implementing the vision and strategy agreed by Trustees and the day to day running of the organisation. The CEO reports to Trustees on progress and on the projects and partnerships which TEN

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TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

supports. The salary of the CEO is set by Trustees based on the responsibilities of the post and benchmarking with other similar charities.

TEN is a member of Global Connections.

Financial review and risk management

The financial statements have been prepared under the historical cost convention, and have been prepared under the 'small companies' provisions of the Companies Act 2006 and in accordance with the Financial Reporting Standard FRS102 and the Charities Statement of Recommended Practice (SORP FRS102) based thereon.

TEN follows policies and procedures to manage risk and ensure effectiveness, probity and legal and regulatory compliance, and reviews and updates these as necessary.

The income of TEN comes primarily through donations from individuals, grant-making organisations and churches, with occasional legacies. TEN claims Gift Aid, where possible.

Financial position

The financial position and performance of TEN is broadly in line with the expectations of the Trustees, based on their planning and monitoring of income and expenditure throughout the year. Unrestricted expenditure was below income in the year, this was the result of a large legacy. There was a surplus in unrestricted free reserves, demonstrating the stability of the charity’s operations. The trustees have established a new designated fund for future partner funding.

Unrestricted income was higher than the previous year, with donations from legacy income, churches, grant income and investment income all increasing. Restricted income remains around the level anticipated and continues to be significantly higher than unrestricted income as the charity seeks to attract interest in specific projects and partners.

Charitable activities expenditure was lower this year, with grants down by £168,466. This was largely because of grants relating to building purchases or development and significant funds sent in support of ministries in Albania in the prior year. Other direct costs were higher than last year due to costs related to our Partner Conference run in April 2024. Otherwise, expenditure was similar to recent years and is in line with expectations. Staff costs were as expected and only slightly higher than 2023-24.

TEN has consistently achieved very close to a 25:75 split in expenditure on raising funds and charitable activities over many years, but this changed to around a 15:85 split in more recent years. This year the split has been 10:90 for the year ended 31 March 2025, due to increased grants and expenditure on charitable activities such as the Partner Conference. This represents a smaller than expected level of funding spent on fundraising and we anticipate the split slowly moving towards 15:85 over the next couple of years. The Trustees continue to monitor this and are committed to stewarding the charity’s resources well and supporting partners as effectively as possible.

Reserves policy

The Trustee Board keeps under review the need for free reserves which are those unrestricted funds not invested in tangible fixed assets, held as programme related investments, or otherwise designated for a specific purpose. Currently, to allow TEN to be managed efficiently and to provide a buffer for adverse contingencies, the Trustees’ policy is that such reserves should be maintained at a level of between three and six months of unrestricted expenditure (including the expenditure on raising funds for restricted projects, met by a transfer from unrestricted funds).

On 31 March 2025, free reserves were £80,000. The free reserves policy, this year, requires between £62,880 and £125,760, with free reserves held at the year-end within this range.

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TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

Investment policy

A part of the reserves of the Charity is currently invested in a professionally managed Charles Stanley fund, through their Personal Portfolio Service. This gives exposure to both equity and fixed interest investments, in accordance with objectives agreed with the Board of Trustees. The basic aim of this investment is to obtain, over time, modest growth in real terms in the capital value and income stream arising from the underlying investments, without taking undue risk. The specific objective set by the Trustees is therefore to achieve a return over rolling 3-year periods modestly in excess of inflation over the corresponding period of time. The investments and returns are reviewed on a regular basis by the Board.

The investments portfolio held with Charles Stanley market value at 1 April 2024 was £122,085. At 31 March it was £122,450. This equates to a return 0.3% (net of management fees) achieved over the year to 31 March 2025. The return on investment was 9% in 2024 and -6.7% in 2023.

Over the last five years the portfolio return has been 25%. Over the same period UK inflation based on the Consumer Price Index has been 28%. This means that the fund is not achieving the aim of a return modestly in excess of inflation. This is to be expected in light of high inflation during the last five years. The board continue to monitor our investment portfolio and its performance.

Risk policy

The principal financial risk for TEN is that of receiving insufficient regular income to pay grants to its partners in continental Europe. We limit this risk by regular communication with donors and actively seeking new funders, in particular through churches and trust funds. Where there is a Partnership Memorandum of Understanding between a UK church and partner, it is made clear that the supporting church should aim to give six months’ notice of any change in financial support. Agreements to grant fund our partners are clear that, where these are made through the support of specific donors, ongoing grant funding is subject to those donors continuing to support them. Free reserves are maintained at between three to six months’ unrestricted expenditure to ensure that TEN can meet its short-term commitments in adverse conditions.

Trustees are aware of other financial risks including possible fraud, money laundering, foreign currency payments, significant investment losses and inadequate cash flow projections. Regular reviews of the finances and monitoring of the use to which funds are put by partners are carried out and money transfer systems are implemented to minimise these risks. The Trustees also regularly review other operational risks and confirm that they have established systems to manage the significant risks.

Grant making policy

We make grants to partners based on our objects and activities defined further by our strategic plan. Priorities are reviewed by Trustees and may be changed depending upon circumstances, available funds, and the perceived effectiveness of their use. A Partners Advisory Group also helps shape these priorities. In line with strategic objectives, grants will continue to support current partners but will also focus on funding new partners and new partner ministries. Grants are only made to known partners and those recommended by long standing and trusted sources.

Trustees have delegated responsibility for grant making from unrestricted funds to the CEO for grants up to a total of £20,000 in any one year above what has been approved in the budget. Over this limit, grants from unrestricted funds need approval by a majority of Trustees. Grants for capital projects have the same authorisation limit.

We recognise the need to take steps to prevent the use of grants for money laundering, terrorist activity, bribery and for purposes other than those for which they were given. To this end, Trustees hold TEN’s partners accountable for the funds, resources, aid or training they have received. Where funding is restricted partners are required to request funds with details of how the funds will be used. They are required to confirm receipt of funds, produce regular reports of their activities and use of funding. Visits are also undertaken to see, firsthand,

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TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

how partners who receive funding or other help from TEN make use of it. Furthermore, professional development of staff helps ensure due diligence in relation to funds being sent overseas.

All our partners understand that the grants, training, or gifts in kind are to be used for the benefit of the community they serve and are to be freely available to all sections of the community regardless of race, religion, or background. TEN continues to roll out new written agreements to clarify the roles and responsibilities of both TEN and each partner.

Objectives and activities

The objects of TEN are: “To advance the Evangelical Christian Faith particularly, but not exclusively, within Europe by the printing and distribution of the Holy Scriptures and Christian Literature, and by such Evangelical work as the Trustees at their absolute discretion see fit.”

We believe the most effective way for TEN to achieve its objects is to find and support local churches, individuals and organisations who have a vision to make Jesus and the love of God known through compassion, evangelism and church planting and are actively practising this. We support these partners by encouraging them through online communication, visits, conferences, building relationships with UK churches and individuals, small team trips, and networking, as well as through grants, teaching and training, gifts in kind and other resources.

Activities for the public benefit

The Trustees reviewed TEN’s work regarding public benefit on 26 February 2025 with reference to the Charity Commission guidance and agreed that TEN’s activities continued to comply. The next section on achievements and performance outlines a representative selection of the work enabled by TEN. Please go to our website at www.ten-uk.org for more information on the full range of our work and stories from our partners.

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TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

Achievements and performance

During 2024-25 we continued to implement our strategy for 2024-27. The strategic document sets out our priorities in relation to our work with our partners and supporters. The current strategy focuses TEN on the strengthening and development of those areas of work. This will include a particular focus on raising new leaders, building partner financial sustainability and strengthening partner ministries. The overriding theme to guide us over the next few years is ‘To go where there is Kingdom momentum’.

TEN’s work this year reflects a deepening commitment to holistic ministry—meeting physical needs, sharing the gospel, and growing sustainable churches and leaders. The impact is evident in transformed lives, strengthened communities, and a growing culture of resilience among partners. This year we continued to deliver our strategic objectives set out in our 2024-2027 strategy. Below is a summary of work and impact of the work of our partners in the Balkans and Eastern Europe. The information below gives a snapshot of the impact of our work.

Compassion Work (Social Programmes)

Evangelism (Sharing the Gospel)

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YEAR ENDED 31 MARCH 2025

Discipleship and Church Planting

Support for New Leaders, Churches, and Projects

Governance and Financial Sustainability for partners

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EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

Impact Highlights

TEN’s UK-based efforts have directly contributed to the following outcomes:

These figures reflect the tangible impact of TEN’s work, made possible through the faithful support of UK churches, individuals, and volunteers.

Transform Europe Network (TEN) – UK Engagement Summary

During 2024–25, Transform Europe Network (TEN) has taken significant steps to reinforce its organisational foundations, guided by the newly launched 2024–27 strategy. This strategic shift builds on the achievements of the previous cycle and focuses on deepening impact, sustainability, and engagement.

Strengthening Church Partnerships

Over the past year, TEN has continued to deepen relationships with churches across the UK, fostering meaningful partnerships that support gospel work in the Balkans and Eastern Europe. These partnerships have been instrumental in enabling compassion-led outreach, evangelism, and church planting initiatives. Notably, new church partnerships were formed, and existing ones strengthened through shared mission, prayer, and practical support.

Mobilising Teams and Visits

TEN facilitated multiple team trips, enabling UK Christians to engage directly with partner ministries abroad. These visits have not only encouraged local believers but also inspired UK participants with firsthand experiences of faith in action. The reciprocal nature of these visits has helped build trust and mutual understanding, reinforcing the value of long-term partnership.

Promoting Awareness and Engagement

TEN has actively promoted its work through a variety of media channels. The quarterly magazine and social media continues to be a key tool for storytelling and impact sharing, reaching a wide audience with updates and testimonies from the field.

Social media platforms have been used strategically to highlight partner stories, campaign updates, and prayer needs, while targeted email communications have kept supporters informed and engaged.

TEN is celebrating 60 years of ministry this year. As part of that we ran a conference at the end of March 2025 to which over 120 supporters came. The conference featured speakers from our partner nations and reports on the work of TEN.

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TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

During August 2025 we again attended the Bangor Worldwide Convention in Norther Ireland. To celebrate our 60[th] anniversary we had a speaker from Serbia, speaking at churches and the convention.

In addition, TEN has made several in-person visits to churches and supporters across the UK. These visits have been vital in reconnecting with the wider TEN family, sharing vision, and encouraging ongoing support

Campaigns and Fundraising

TEN ran several successful campaigns including “Harvest for the Hungry,” “WinterHelp,” and the “Gift Catalogue,” which collectively raised significant funds to support partners deliver social programmes. These campaigns raised over £60k between them.

Since running our Partner conference in April 2024 we have seen the launch of three new church partnerships between UK churches and partner churches.

Relationships with trust funds continued to develop and TEN was able to raise funds from one new trust and increase our funding through trust funds overall.

Investing in the team and new technologies

Internally, TEN has prioritised capacity-building through staff and volunteer development, the creation of a new fundraising plan, and efforts to grow its support base. TEN has appointed a freelance fundraiser.

During this year we have invested heavily in Cyber Security. This has been to strengthen both the technological firewall and the human firewall. To that end we have

  1. Invested in a new IT security package with our IT supplier.

  2. Audited our cyber security to identify potential weaknesses.

  3. Invested in cyber security insurance.

  4. Put all staff and relevant volunteers through training to both raise awareness of the issues and enable them to play their part in keeping our data and resources safe.

To enhance operational effectiveness, TEN continues to invest in tools such as Salesforce and QuickBooks Online, improving donor management and financial reporting

Online platforms like Teams have been used to host prayer meetings and partner updates, strengthening communication and community across our region.

We have continued to use technology to enhance our work. This year has seen a significant step up in our use of AI technology. Specifically, it has been used to help with administrative tasks, research, minute taking for online meetings and recording how-to videos related to the financial areas of our work.

Volunteers

The Trustees are grateful to the many volunteers across the UK who give time and energy to help TEN and our partners. This work ranges from administrative tasks, IT development, prayer, work with partners such as on summer camps, practical work, and evangelism to relief work. Volunteer Ambassadors make occasional field trips on our behalf and speak in UK churches about the work. The total number of volunteers is 75.

Future activities

During 2025-26 we will operate to meet the objectives set out in our new 2024-27 strategy. As stated above these are building on the last strategic cycle. They can be summarised as follows:

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EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

Supporting partner ministries in Eastern Europe and the Balkans

Key work will be to draw in and support some new younger partners, women, and Roma leaders; help partners strengthen their foundations and sustainability; help develop and empower new ministries and to empower partners in shaping TEN.

Developing the support and participation of mission-focused Christians in the UK

In the UK we will be working to continue to raise new interest, support and participation, engaging Christians of all ages in our mission and strengthening and increased connections with partners. Key to meeting this objective is to continue our work to increase participation of individuals, churches, volunteers and small teams in our work.

Strengthening our foundations to continue to be effective

Within TEN we will look to develop the staff and volunteer team through professional development; develop our fundraising plan; grow the support base and strengthen our relationships with supporters. Following a review of our data security we have invested significantly in strengthening both our IT and human firewall. We have done this through a process of implementing stronger IT safeguards, raising awareness of the risks and training. During the year we have reviewed and strengthened our Financial Controls Policy. Furthermore, we continue with a process of ongoing development with our Customer Relationship Management systems. With the departure of our Finance Manager in February 2025 we temporarily engaged our accountants to take on more of the work on our management accounts for quarterly board meetings. We have appointed a Senior Finance and Operations Manager in Autumn 2025. This full-time role is a significant step up in our investment to strengthen our financial and operational foundations. Furthermore, we have appointed part-time administrative support to help the work to report on partners and their ministries. Our new strategy will be reviewed through quarterly board meetings, staff line management and the management of the CEO.

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EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2025

Statement of Trustees responsibilities

The trustees (who are also directors of Eurovangelism for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Signed for and on behalf of the Trustees:

……………………………………… Lorenz Jorgensen, Chair of Trustees

Date: 19th November 2025

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EUROVANGELISM

LEGAL AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 MARCH 2025

Registered numbers 1140592
(Charity Commission for England and Wales)
07507682
(Companies House)
Alternative operating names Transform Europe Network
TEN
Harvest for the Hungry
Trustees Mr L Jorgensen (Chair)
(Who are Directors for the purposes Mrs M Lilley
of Company Law) Mr G May
Mr A Spencer (Deputy Chair)
Mr E Winter
Mr N Somers (from 18 July 2025)
Chief Executive Officer Mr J Vaughton
Registered office 23 Apex Court
Woodlands
Bradley Stoke
Bristol BS32 4JT
Principal bankers Lloyds
PO Box 1000
Kingswood (309480)
Bristol BX1 1LT
Independent examiner Ed Marsh BSc (Hons) FCA, DChA
Burton Sweet Limited
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol BS48 1UR
Solicitors Anthony Collins Solicitors
134 Edmund Street
Birmingham B3 2ES
Investment manager Charles Stanley & Co. Limited
Broadwalk House
Southernhay West
Exeter EX1 1TS

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EUROVANGELISM

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF EUROVANGELISM (‘THE COMPANY’)

YEAR ENDED 31 MARCH 2025

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

……………………………………… Ed Marsh BSc (Hons) FCA, DChA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 19th November 2025

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EUROVANGELISM

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
2
Charitable activites
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net gains/(losses) on investments
16
Net income/(expenditure)
10
Transfers between funds
21
Net movement in funds
Reconciliation of funds:
Total funds brought forward
21
Total funds carried forward
21		 Unrestricted
Restricted
Total funds
Total funds
funds
funds
2025
2024
£
£
£
£
267,861
556,330
824,191
712,098
17,771
385
18,156
2,763
12,875
-
12,875
9,551
298,507
556,715
855,222
724,412
30,995
54,557
85,552
84,579
241,584
526,296
767,880
860,550
272,579
580,853
853,432
945,129
310
-
310
8,689
26,238
(24,138)
2,100
(212,028)
(3,303)
3,303
-
-
22,935
(20,835)
2,100
(212,028)
575,300
163,538
738,838
950,866
598,235
142,703
740,938
738,838

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

All of the activities of the charity are classed as continuing

Fund comparatives are disclosed in note 26

The notes on pages 16 to 35 form part of these financial statements

13

Company registration number: 07507682

EUROVANGELISM

BALANCE SHEET

AT 31 MARCH 2025

Note
Fixed assets:
Tangible assets
14
Programme related investments
15
Financial investments
16
Current assets:
Debtors
17
Programme related investments
15
Cash at bank, in hand, and on
short term deposit
Liabilities:
Creditors: Amounts falling due
within one year
18
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due
after more than one year
19
Provisions for liabilities
20
Total net assets
The funds of the charity:
Unrestricted funds
22
Free reserves
Designated funds
Restricted funds
22
Total charity funds		 2025
2024
£
£
239,596
238,206
11,914
11,634
122,450
121,765
81,225
80,658
5,396
4,530
496,597
526,149
583,218
611,337
(120,595)
(124,652)
462,623
486,685
836,583
858,290
(23,532)
(47,339)
(72,113)
(72,113)
740,938
738,838
80,000
114,774
518,235
460,526
598,235
575,300
142,703
163,538
740,938
738,838		 2025
2024
£
£
239,596
238,206
11,914
11,634
122,450
121,765
81,225
80,658
5,396
4,530
496,597
526,149
583,218
611,337
(120,595)
(124,652)
462,623
486,685
836,583
858,290
(23,532)
(47,339)
(72,113)
(72,113)
740,938
738,838
80,000
114,774
518,235
460,526
598,235
575,300
142,703
163,538
740,938
738,838		 2025
2024
£
£
239,596
238,206
11,914
11,634
122,450
121,765
81,225
80,658
5,396
4,530
496,597
526,149
583,218
611,337
(120,595)
(124,652)
462,623
486,685
836,583
858,290
(23,532)
(47,339)
(72,113)
(72,113)
740,938
738,838
80,000
114,774
518,235
460,526
598,235
575,300
142,703
163,538
740,938
738,838		 2025
2024
£
£
239,596
238,206
11,914
11,634
122,450
121,765
81,225
80,658
5,396
4,530
496,597
526,149
583,218
611,337
(120,595)
(124,652)
462,623
486,685
836,583
858,290
(23,532)
(47,339)
(72,113)
(72,113)
740,938
738,838
80,000
114,774
518,235
460,526
598,235
575,300
142,703
163,538
740,938
738,838
80,000
518,235
858,290
(47,339)
(72,113)
740,938 738,838
598,235
142,703		 575,300
163,538
740,938 738,838

For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006,

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the Trustees on November 19th 2025, and are signed on their behalf by:

………………………………………....................................................

Lorenz Jorgensen, Chair of Trustees

The notes on pages 16 to 35 form part of these financial statements

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EUROVANGELISM

STATEMENT OF CASH FLOWS

YEAR ENDED 31 MARCH 2025

Note
Operational cash flows
Cash flowsfrom
operating activities
Receipts from charitable activites
23 (A2)
Payments for charitable activities
23 (B2)
Additions to Programme related investments
15
Repayments from Programme related investments
15
Net outflow from operating activities
Cash flowsfor
operating activities
Receipts from donations and legacies
23 (A1)
Payments for raising funds
23 (B1)
Net inflow for operating activities
Net (outflow)/inflow of operating activities
Non-operational cash flows
Investing activities
Dividends and interest from investments
23 (C1)
Purchase of fixed assets
14
Movement of cash held for investment
16
Short term deposits maturing in more than 3 months
24
Net cash provided by investing activities
Net cash (outflow)/inflow for the year
24		 Total funds
Total funds
2025
2024
£
£
9,768
13,396
(773,151)
(732,796)
-
(12,844)
-
3,470
(763,383)
(728,774)
807,837
685,434
(83,159)
(83,570)
724,678
601,864
(38,705)
(126,910)
12,875
9,551
(1,568)
-
(1,008)
(71)
-
(85,000)
10,299
(75,520)
(28,406)
(202,430)

The notes on pages 16 to 35 form part of these financial statements

15

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1 Accounting policies

(a) Basis of preparation

The financial statements have been prepared in accordance with the historical cost convention except for investments which have been included at fair value and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) or Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The charity is a Public Benefit Entity as defined under FRS 102. The presentation currency is pounds sterling.

The Statement of Cash Flows has been prepared on the gross/direct basis, as permitted by the Charities SORP. Cash has been defined as cash at bank, in hand, and short term deposits of not more than 3 months for the purposes of the Statement of Cash Flows. The Balance sheet additionally includes short term deposits of not more than one year within cash at bank, in hand, and on short term deposit.

(b) Preparation of the accounts on a going concern basis

There are no material uncertainties about the charity’s ability to continue as a going concern, despite the ongoing uncertainty and inflationary pressures arising from the geopolitical crisis in Europe, ongoing uncertainty the Middle East, along with the impact of current US tariff policy. Whilst the Trustees expect there to be a continuing impact on the charity’s operations and reserves in the coming months and years, the charity currently believes it has sufficient reserves to be able to meet these challenges.

(c) Fund accounting

Unrestricted general funds , also known as free reserves, are available for use at the discretion of the Trustees in furtherance of the objects of the charity.

Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees. The purpose and likely timing of the use of each designated fund is set out in note 21 to the financial statements.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is charged to the fund along with the cost of raising and administering such funds. The purpose and use of those restricted funds with income greater than £10,000 are set out in note 21 to the financial statements.

Investment income and gains are allocated to the appropriate fund.

(d) Income

All income is included in the SOFA when the the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy and receipt is probable. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be spent in a future accounting period.

16

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

For legacies, entitlement is taken as the earlier of:

the date on which the charity is aware that probate has been granted;

the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made; or

when a distribution is received from the estate.

Grants, including grants for fixed assets, are recognised within the accounts as they become receivable. Grants received in the accounting period in respect of future accounting periods are deferred until those periods. All material grants are disclosed in accordance with the Charities SORP (FRS 102).

Gift Aid relief on eligible donations is recognised on an accruals basis at the same point as the original donation.

Donated services, facilities or goods are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services, facilities or goods are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain the services, facilities or goods of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. In accordance with the Statement of Recommended Practice, no amounts are included in the financial statements for services donated by volunteers.

(e) Expenditure and basis of allocation of costs

Expenditure is recognised on an accruals basis as and when a legal or constructive obligation arises.

The cost of raising funds comprise the direct costs of fundraising; through printed materials, attending events and online promotion of the charity as well as staff time spent directly on this activity.

Expenditure on charitable activites is principally grants payable to partner organisations, although staff time spent directly on this activity is also included as well as other direct costs. Grants payable are included in the SOFA when approved by the Trustees and communicated to the other organisation. The value of such grants unpaid at the year end is accrued. Grants where the beneficiary has not been informed or has to meet certain conditions before the grant is released are not accrued but are noted as financial commitments if material.

Support costs encompass all expenditure that is not wholly and directly attributable to either raising funds or charitable activities. Support costs are allocated to expenditure on raising funds and charitable activities on the basis of the cost of staff time directly attributable to each of these activities.

Governance costs are those incurred in compliance with constitutional and statutory requirements. They are included within support costs and allocated as described above.

(f) Foreign currency

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the Balance Sheet date. All exchange and translation differences are taken to the SOFA.

17

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(g) Tangible fixed assets

Tangible fixed assets of greater than £500 are stated at cost and depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:

Computer equipment - 20% straight line Office equipment - 20% straight line

No depreciation is charged in the month of acquisition but is charged in full in the month of disposal.

No provision for depreciation has been made for freehold property as it is the view of the Trustees that the estimated residual value of the property is not materially different from the carrying value. The Trustees undertake an impairment review whenever they identify any indicators that impairment may have occurred.

(h) Financial investments

Listed investments are stated at market value at the Balance Sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.

(i) Programme related investments

Programme related investments consist of charitable loans, which are provided interest free. These investments are carried at cost less any provision for impairment less any repayments received.

(j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(k) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(l) Pension costs

The charity contributes to a defined contribution pension plan on behalf of its eligible employees. The contributions are recognised as an expense in the period in which the related service is provided.

18

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

2 Income from donations and legacies

Donations from individuals
Donations from trustees and related parties
Donations from churches and organisations
Legacies
Grants receivable for:
CASA Grace, Romania
ISTL, Albania
Building projects, N. Macedonia
Building projects, Croatia
Building project - Constanta, Romania
North Macedonia Key workers support
Beginning of Life
Bibles and Christian literature
Charitable loans
Grants receivable for other activities		 Unrestricted
Restricted
Total funds
Total funds
funds
funds
2025
2024
£
£
£
£
124,622
161,799
286,421
290,795
4,180
-
4,180
4,084
23,769
96,620
120,389
99,993
83,990
-
83,990
1,000
-
54,000
54,000
60,000
-
34,160
34,160
85,160
-
27,032
27,032
-
-
11,258
11,258
-
-
-
-
22,643
-
14,750
14,750
-
-
25,000
25,000
-
-
10,000
10,000
-
-
20,000
20,000
20,000
31,300
101,711
133,011
93,423
267,861
556,330
824,191
677,098

(See note 27 for prior year comparatives)

3 Income from charitable activities

Teams mission trips
Conference
Other income from charitable activities		 Unrestricted
Restricted
Total funds
Total funds
funds
funds
2025
2024
£
£
£
£
8,140
-
8,140
1,640
8,545
385
8,930
-
1,086
-
1,086
1,123
17,771
385
18,156
2,763

(See note 27 for prior year comparatives)

4 Income from investments

Interest and dividends Unrestricted
Restricted
Total funds
Total funds
funds
funds
2025
2024
£
£
£
£
12,875
-
12,875
9,551
12,875
-
12,875
9,551

(See note 27 for prior year comparatives)

19

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

5 Expenditure on raising funds

Fundraising events & materials
Developing Mission - Raising the charity's profile
Staff costs
Investment management fees
Allocated support costs_(Note 8)_		 Unrestricted
Restricted
Total funds
Total funds
funds
funds
2025
2024
£
£
£
£
7,708
4,173
11,881
12,749
5,292
-
5,292
3,496
8,666
16,299
24,965
27,633
633
-
633
570
8,696
34,085
42,781
40,131
30,995
54,557
85,552
84,579

(See note 27 for prior year comparatives)

6 Expenditure on charitable activities

Church planting & development
Compassion projects
Evangelism & other ministry support
Developing Mission
Church planting & development
Compassion projects
Evangelism & other ministry support
Developing Mission		 Grants
£
239,590
207,723
23,211
27,390		 Other
Support
direct
costs
Total
Total

costs
(Note 8)
2025
2024

£
£
£
£
78,264
59,732
377,586
590,675
33,767
45,508
286,998
203,766
7,735
5,673
36,619
39,482
28,438
10,849
66,677
26,627
497,914 148,204
121,762
767,880
860,550
Grants to
Grants to
Total
Total
institutions
individuals
2025
2024
£
£
£
£
239,590
-
239,590
474,650
207,723
-
207,723
160,615
23,211
-
23,211
31,115
27,390
-
27,390
-
497,914
-
497,914
666,380
(See Note 7)

(See note 27 for prior year comparatives)

20

NOTES TO THE FINANCIAL STATEMENTS

EUROVANGELISM

YEAR ENDED 31 MARCH 2025

7 Grants to institutions - detail

The vast majority of grants made or committed to institutions are for amounts less than £10,000 per grant. Below are details of the institutions to whom grants were committed or that received grants totalling more than £10,000 in the current or preceeding year.

Church of God, Albania
ISTL, Albania
Beginning of Life, Moldova
Gotesti Baptist Church, Moldova
Evangelical Church, N. Macedonia
CASA Grace, Romania
Emanuel Hospice, Romania
Open Heaven, Romania
Tinca Baptist Church, Romania
Prilep & Bitola Key worker, Evangelical Church of Macedonia
Ignis Ministries, Albania
Ursoaia Baptist Church, Moldova
Novi Sad Christian Fellowship & Rainbow Rehab Centre, Serbia
Biblical Protestant Church, Zenica
Provision for grant payable to Sevlievo Church, Bulgaria (see note 20)
Good News Church Split, Croatia
Petre Petrov, Shtip Church
Grants totalling less than £10,000 per institution in both the current
and preceeding year
Total		 2025
2024
£
£
20,947
9,295
42,496
163,928
22,750
-
14,119
15,613
45,373
59,115
83,414
70,676
8,069
8,063
37,537
62,123
-
6,645
-
4,220
38,000
37,233
-
14,641
13,383
11,392
923
10,593
71,113
72,113
12,262
-
11,320
-
76,208
120,201
497,914
665,851

8 Support costs

Support costs encompass all expenditure that is not wholly and directly attributable to either raising funds or charitable activities. Support costs are allocated to expenditure on raising funds and charitable activities on the basis of the cost of staff time directly attributable to each of these activities.

Staff costs
Central operating costs
Governance costs_(Note 9)_		 Raising
Charitable
Total
Total
funds
activities
2025
2024
£
£
£
£
28,452
80,979
109,431
106,525
12,923
36,780
49,703
32,237
1,406
4,003
5,409
4,562
42,781
121,762
164,543
143,324

(See note 27 for prior year comparatives)

21

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

9
Governance costs
Independent examiner's fees
Trustees' meeting expenses
10
Net income/(expenditure) for the year
This is stated after charging:
Depreciation
Independent examiner's fee - independent examination
- accounts assistance
Trustee remuneration
Reimbursed Trustee travel expenses - 2 Trustees (2024: 2 Trustees)
11
Employees & staff costs
The aggregate payroll costs were:
Salaries
Social security costs
Pension contributions
(Key management is made up of the Trustees and the CEO)
Key management personnel total remuneration (including employer's pension and national
insurance contributions) received		 2025
2024
£
£
4,370
2,064
1,039
2,498
5,409
4,562
2025
2024
£
£
178
205
2,270
2,064
2,100
-
-
-
553
670
2025
2024
£
£
182,231
180,451
11,217
11,115
12,611
12,629
206,059
204,195
58,406
56,669

No employee received emoluments of more than £60,000 in the current or prior year.

In the year to 31 March 2025, the average number of staff employed was 7 (2024: 7).

12 Related party transactions

There were no related party transactions during the year other than those noted elsewhere.

13 Taxation

Eurovangelism is recognised as a charity for UK tax purposes and is therefore exempt from Corporation Tax on its income and gains provided that these are used for charitable purposes only.

22

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

14 Tangible fixed assets

Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
Computer
property
equipment
Total
£
£
£
238,107
2,859
240,966
-
1,568
1,568
238,107
4,427
242,534
-
2,760
2,760
-
178
178
-
2,938
2,938
238,107
1,489
239,596
238,107
99
238,206

15 Programme related investments

At 1 April 2024
Additions
Amount repaid
At 31 March 2025
Included within:
Fixed assets
Current assets		 Partner
sustainability
loans
£
16,164
3,980
(2,834)
17,310
11,914
5,396
17,310

Programme related investments represent sustainability loans being provided to help partners strengthen their foundations and financial sustainability, to try and encourage an approach that is not so dependent on outside funding where possible. At 31 March 2025, 4 loans had been made or committed. These concessionary loans are repayable in equal instalments over varying periods of not more than 5 years, have been provided interest free, and are unsecured.

23

NOTES TO THE FINANCIAL STATEMENTS

EUROVANGELISM

YEAR ENDED 31 MARCH 2025

16 Financial investments

Listed investments

All such investments are listed in the UK. The purpose of the investments is to provide a mixture of capital growth and income. The investments are held by Charles Stanley through their Personal Portfolio Service.

Market value brought forward
Investment management fees
Movement of cash held for investment
Gains/(losses) in the year
Market value carried forward
Represented by:
Fixed income
UK equity
International equity
Property
Alternatives & mixed investments
Cash
Historical cost
17
Debtors
Prepayments
Accrued income
Other debtors
18
Creditors: Amounts falling due within one year
Grants payable
Accruals and deferred income
Taxation and social security
Other creditors		 2025
2024
£
£
121,765
113,575
(633)
(570)
1,008
71
310
8,689
122,450
121,765
£
£
49,227
46,167
8,010
8,112
48,518
50,439
3,484
3,555
11,089
8,352
2,122
5,140
122,450
121,765
117,273
117,273
2025
2024
£
£
1,878
17,531
79,347
62,993
-
134
81,225
80,658
2025
2024
£
£
94,527
74,064
19,867
18,060
3,238
3,341
2,963
29,187
120,595
124,652

24

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

19 Creditors: Amounts falling due after more than one year

19
Creditors: Amounts falling due after more than one year
Grants payable
20
Provisions for liabilities
At 1 April 2024
Increase/(decrease in provision)
At 31 March 2025		 2025
2024
£
£
23,532
47,339
Grants
payable
Total
provision
£
£
72,113
72,113
-
-
72,113
72,113

At 31 March 2025 a constructive obligation existed between the charity and one of its partners for a grant to enable the purchase of a building. It is probable that the grant will be made in between 1 and 5 years but the partner needs to find a suitable property. An estimate of the settlement amount can be made because the amount intended to be given as a grant has been communicated to the partner, which is approximately equal to an amount of restricted income already received. However, the exact amount of the property and, therefore, the grant amount to be paid is uncertain and will not be in pounds sterling so can only be estimated.

21 Movement in funds

Current year movements

Current year movements
Restricted funds
Church planting & development
Compassion projects
Evangelism & other ministry support
Unrestricted funds
Designated funds:
Tangible fixed assets
Charitable loans (carrying value)
Charitable loans (available)
Partner support
New ministries
Future partner projects
Free reserves
Total funds		 1 April
Income
Expenditure
31 March
2024
and gains
and losses
Transfers
2025
£
£
£
£
£
45,939
298,188
(301,588)
5,243
47,782
104,058
208,362
(249,729)
4,856
67,547
13,541
50,165
(29,536)
(6,796)
27,374
163,538
556,715
(580,853)
3,303
142,703
238,206
-
(178)
1,568
239,596
16,164
-
-
1,146
17,310
33,836
-
-
(1,146)
32,690
116,942
-
(33,007)
-
83,935
55,378
-
(8,186)
9,512
56,704
-
-
-
88,000
88,000
114,774
298,817
(231,208)
(102,383)
80,000
575,300
298,817
(272,579)
(3,303)
598,235
738,838
855,532
(853,432)
-
740,938

25

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

21 Movement in funds (continued)

Transfers:

15 percent of any particular restricted donation is used to cover support costs, as publicised. The transfers relate to the movement of funds from restricted to unrestricted following the disbursement funds restricted for charitable loans meeting their restriction. Loan repayments are then transferred to unrestricted funds.

£12,844 represents a restricted donation given for the purpose of enabling a concessionary loan for a partner in Europe. With the donation's purpose having been fulfilled through the provision of a concessionary loan during the year, it then became part of the unrestricted funds of the charity and is included in the accounts as a transfer.

Description and purpose of designated funds:

Tangible fixed assets

This fund represents the net book value of tangible fixed assets held by the charity. Disposal gains are shown under the income and gains heading and expenditure and losses represents the depreciation charge for the year, along with any disposal losses. Transfers represent additions and any proceeds from disposals during the year.

Charitable loans (carrying value)

This fund represents the carrying value of charitable loans held by the charity, as disclosed in note 15. These consist of concessionary loans made to partners in development of their long-term financial sustainability. Transfers are made to the fund as and when new loans are disbursed, and from the fund to the charitable loans (available) designated fund as repayments are made.

Charitable loans (available)

Arising from a desire to support partners in strengthening their foundations and financial sustainability, £50,000 has been designated for that purpose, through the provision of concessionary loans. This fund is the balance of £50,000 less the loans held in the charitable loans (carrying value) designated fund.

Partner support

This fund is being used in delivering the strategy related to partners and our UK ministry. It allows us to meet any needs that might arise within our partners' communities (including hardships the partners themselves may face), support our partners in any projects they may intend to run, and help us raise funds to these ends. Spent as a mixture of grants to partners, new project development, and growing our UK support base, it was initially anticipated this fund would have been fully spent by the end of March 2024. Whilst a significant amount of this fund has been spent over the last few years, the Trustees have reviewed the fund and now anticipate it will be fully spent by between the end of March 2027 and March 2029.

New ministries

These funds are designated for use to engage current and new connections looking to develop ministries in the areas of human trafficking, refugee work, environmental issues, domestic violence or other new types of ministry. It was initially anticipated this fund would be fully spent by the end of March 2025. In light of the Trustees' review of all the charity's designated funds, it is now anticipated it will be fully spent by between the end of March 2027 and March 2029.

Future Partner Projects

This fund will allow TEN to respond to the project developments of current partners.

26

NOTES TO THE FINANCIAL STATEMENTS

EUROVANGELISM

YEAR ENDED 31 MARCH 2025

21 Movement in funds (continued)

Description and purpose of specified restricted funds in the current year:

The table on page 25 summarises the movement of restricted funds in the current year into three broad categories. Details of specific restricted funds, identified as having income greater than £10,000, are shown in this table, with their description and purpose given below and on the following page.

Current year movements of specific restricted funds

Restricted funds with
income greater than £10,000:
ISTL, Albania
CASA Grace, Romania
Harvest for the Hungry
WinterHelp
Beginning of Life
Ignis Ministries, Albania
Radovish Church Plant
Croatia (CP & D)
D & V Kuranji
North Macedonia KW
Beni Micle (Open Heaven)
Bibles and Christian Literature
CASA Grace - Summer camp fund
Charitable loans
Total of restricted funds with
income less than £10,000
Total restricted funds		 1 April
Income
Expenditure
31 March
2024
and gains
and losses
Transfers
2025
£
£
£
£
£
-
38,025
(34,334)
-
3,691
36,745
74,477
(113,086)
-
(1,864)
24,361
36,442
(35,025)
-
25,778
12,446
18,131
(16,563)
-
14,014
-
25,000
(25,000)
-
-
-
58,000
(38,000)
-
20,000
76
12,282
(13,782)
-
(1,424)
-
11,258
(14,421)
-
(3,163)
137
10,150
(10,000)
-
287
1,540
14,750
(8,438)
-
7,852
-
14,440
(14,450)
-
(10)
6,601
10,000
(5,192)
-
11,409
3,903
13,441
(15,133)
-
2,211
3,037
20,000
(322)
-
22,715
74,692
200,319
(237,107)
3,303
41,207
163,538
556,715
(580,853)
3,303
142,703

Several funds have overdrawn balances at the end of the year. The charity is expecting further funds during 2025/2026 to cover these.

ISTL, Albania

This fund represents grant funding made in support of the ongoing work of ISTL in Albania.

CASA Grace, Romania

This fund represents grants and donations given in support of the CASA Grace Foundation, a community project in Romania.

Harvest for the Hungry

An annual appeal is made by the charity to raise funds to feed the hungry in Europe, enabling partners to buy food parcels that are distributed to the needy in their community. This fund arises from that appeal.

WinterHelp

This fund arises from an annual appeal to help meet the specific needs of our partners' communities over wintertime when keeping warm can be a genuine challenge.

Beginning of Llife

This fund represents grant funding made in support of the ongoing work of Beginning of Life in Moldova and specific support for their work with refugees from Ukraine.

Ignis Ministries, Albania

This fund represents grand funding made in support of the ongoing work of Ignis in Albania and funds towards a building purchase.

Radovish Church Plant

This fund represents grant funding made in support of a church building development in Radovish, North Macedonia.

Croatia CP&D

This fund represents grant funding made in support of a church building development in Split, Croatia.

D& V Kuranji

This fund represents grant funding made in support of the ongoing work of Danny and Vera Kuranji, Serbia.

27

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

21 Movement in funds (continued)

North Macedonia KW

This fund represents grant funding made in support of church leaders within the Evangelical Church of North Macedonia.

Open Heaven, Romania

This fund represents grants and donations given to support the evangelical work of Open Heaven, a ministry based in the Constanta region of Romania.

Bibles and Christian Literature

This fund represents grant funding made in support of the printing, publishing and distribution of Bibles and Christian literature in the Balkans and Eastern Europe.

CASA Grace - Summer camp fund

This fund represents donations given in support of an annual summer camp run by CASA Grace in Romania, which is supported significantly by a UK church and individuals connected to it.

Partner conference

This fund has arisen as a result of donations given to help enable TEN to organise a conference for partners.

Building project, Romania

A succesful grant application led to this fund which is for a church building development in Constanta, Romania.

Wellspring Appeal

A spring appeal was made to help eliviate the hardship being experienced by partners as a result of the increased cost of living from inflationary pressures of recent years. This fund is the result of that appeal.

Ursoaia church ministry, Moldova

This fund represents donations from a UK supporting church for the ministry of Ursoaia Church in Moldova.

Charitable loans

This fund has arisen from a grant given to support charitable loans being made by TEN to partners, helping them to build longer-term financial sustainability.

Prior year movements

Restricted funds
Church planting & development
Compassion projects
Evangelism & other ministry support
Unrestricted funds
Designated funds:
Tangible fixed assets
Charitable loans (carrying value)
Charitable loans (available)
Partner support
New ministries
Free reserves
Total funds		 1 April
Income
Expenditure
31 March
2023
and gains
and losses
Transfers
2024
£
£
£
£
£
185,832
324,794
(470,818)
6,131
45,939
124,699
173,792
(198,612)
4,179
104,058
19,873
43,670
(38,468)
(11,534)
13,541
330,404
542,256
(707,898)
(1,224)
163,538
238,411
-
(205)
-
238,206
6,790
-
-
9,374
16,164
43,210
-
-
(9,374)
33,836
150,836
-
(34,064)
170
116,942
66,897
-
(11,519)
-
55,378
114,318
190,845
(191,443)
1,054
114,774
620,462
190,845
(237,231)
1,224
575,300
950,866
733,101
(945,129)
-
738,838

28

NOTES TO THE FINANCIAL STATEMENTS

EUROVANGELISM

YEAR ENDED 31 MARCH 2025

21 Movement in funds (continued)

Transfers:

There was also a transfer from restricted funds to free reserves of £12,844 and £2,500, and to the partner support designated fund of £170.

Transfers were also made to individual restricted funds from free reserves to cover indirect fundraising and support costs originally charged to these funds.

Description and purpose of specified restricted funds in the prior year:

The table on the previous page summarises the movement of restricted funds in the prior year into three broad categories. Details of specific restricted funds, identified as having income greater than £10,000, are shown in this table, with their description and purpose (where not already explained) given below and on the following page.

Prior year movements of specific restricted funds

Restricted funds with
income greater than £10,000
ISTL, Albania
CASA Grace, Romania
Harvest for the Hungry
WinterHelp
Open Heaven, Romania
Partner conference
Ignis Ministries, Albania
Building project, Romania
Wellspring Appeal
Ursoaia church ministry, Moldova
CASA Grace - Summer camp fund
Charitable loans
Total of restricted funds with
income less than £10,000
Total restricted funds		 1 April
Income
Expenditure
31 March
2023
and gains
and losses
Transfers
2024
£
£
£
£
£
61,875
78,550
(140,425)
-
-
41,953
64,084
(69,292)
-
36,745
26,419
41,066
(43,124)
-
24,361
13,138
19,591
(20,283)
-
12,446
(600)
16,195
(15,595)
-
-
-
34,475
(7,693)
-
26,782
-
35,000
(35,000)
-
-
-
22,643
(27,371)
4,250
(478)
85
14,502
(4,988)
-
9,599
-
22,716
(17,406)
-
5,310
3,797
12,707
(12,601)
-
3,903
-
20,000
(4,119)
(12,844)
3,037
183,737
160,727
(310,001)
7,370
41,833
330,404
542,256
(707,898)
(1,224)
163,538

29

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

22 Analysis of net assets between funds

Current year

Current year
Restricted funds
Church planting & development
Compassion projects
Evangelism & other ministry support
Unrestricted funds
Designated funds:
Tangible fixed assets
Charitable loans (carrying value)
Charitable loans (available)
Partner support
New ministries
Free reserves
Total funds
Prior year
Restricted funds
Church planting & development
Compassion projects
Evangelism & other ministry support
Unrestricted funds
Designated funds:
Tangible fixed assets
Charitable loans (carrying value)
Charitable loans (available)
Partner support
New ministries
Free reserves
Total funds		 Tangible
Fixed asset
Other net
Total
fixed assets
investments
assets
2025
£
£
£
£
-
-
47,782
47,782
-
-
67,547
67,547
-
-
27,374
27,374
-
-
142,703
142,703
239,596
-
-
239,596
-
11,914
5,396
17,310
-
-
32,690
32,690
-
-
83,935
83,935
-
-
56,704
56,704
-
122,450
(42,450)
80,000
239,596
134,364
136,275
510,235
239,596
134,364
278,978
652,938
Tangible
Fixed asset
Other net
Total
fixed assets
investments
assets
2024
£
£
£
£
-
-
45,939
45,939
-
-
104,058
104,058
-
-
13,541
13,541
-
-
163,538
163,538
238,206
-
-
238,206
-
11,634
4,530
16,164
-
-
33,836
33,836
-
-
116,942
116,942
-
-
55,378
55,378
-
121,765
(6,991)
114,774
238,206
133,399
203,695
575,300
238,206
133,399
367,233
738,838

30

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

23 Reconciliation of the Statement of Financial Activities

Statement of
Financial Creditors &
Activities Debtors Provisions Cash flow
£ £ £ £
A1 Income from donations and legacies 824,191
Increase in accrued income (16,354) 807,837
A2 Income from charitable activities 18,156
Increase in deferred income (8,388) 9,768
B1 Costs of raising funds (85,552)
Investment management fees eliminated 633
Increase in prepayments (71)
Increase in other debtors 134
Increase in accruals 1,697
Decrease in other creditors (83,159)
B2 Costs of charitable activities (767,880)
Increase in grants payable (3,344)
Depreciation eliminated 178
Increase in prepayments 15,724
Increase in accruals 8,498
Increase in taxation and social security (103)
Increase in other creditors (26,224)
Increase in provision for liabilities (773,151)
C1 Dividends and interest from investments 12,875 12,875
Balance sheet movements (567) (27,864)
24 Analysis of changes in cash and cash equivalents
2025 2024 Change
£ £ £
Cash at bank, in hand, and short term deposits of not more
than 3 months 411,597 441,149 (29,552)
Total cash and cash equivalents 411,597 441,149 (29,552)
2024 2023 Change
£ £ £
Cash at bank, in hand, and short term deposits of not more
than 3 months 441,149 643,579 (202,430)
Total cash and cash equivalents 441,149 643,579 (202,430)
Reconciliation:
2025 2024 Change
£ £ £
Total cash at bank, in hand, and on short term deposit 496,597 526,149 (29,552)
Less: cash held on deposit for 12 months (85,000) (85,000) -
Total cash and cash equivalents as above 411,597 441,149 (29,552)
2024 2023 Change
£ £ £
Total cash at bank, in hand, and on short term deposit 526,149 643,579 (117,430)
Less: cash held on deposit for 12 months (85,000) - (85,000)
Total cash and cash equivalents as above 441,149 643,579 (202,430)

31

NOTES TO THE FINANCIAL STATEMENTS

EUROVANGELISM

YEAR ENDED 31 MARCH 2025

25 Company limited by guarantee

The charity is a company limited by guarantee having no share capital and, in accordance with the Articles of Association, every member is liable to contribute £1 towards the costs of dissolution and the liabilities incurred by the charity in the event of the company being wound up.

26 Prior year fund comparatives for the Statement of Financial Activities

Income from:
Donations and legacies
Charitable activites
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
169,842
542,256
712,098
2,763
-
2,763
9,551
-
9,551
182,156
542,256
724,412
45,679
38,900
84,579
191,552
668,998
860,550
237,231
707,898
945,129
8,689
-
8,689
(46,386)
(165,642)
(212,028)
1,224
(1,224)
-
(45,162)
(166,866)
(212,028)
620,462
330,404
950,866
575,300
163,538
738,838

32

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

27 Prior year comparatives for notes to the financial statements

Income from donations and legacies for the year ended 31 March 2024

Donations from individuals
Donations from trustees and related parties
Donations from churches and organisations
Legacies
Grants receivable for:
CASA Grace
ISTL, Albania
Building project - Constanta, Romania
Ignis Ministries, Albania
Charitable loans
Grants receivable for other activities		 Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
126,484
164,311
290,795
2,627
1,457
4,084
12,431
87,562
99,993
1,000
-
1,000
-
60,000
60,000
-
85,160
85,160
-
22,643
22,643
-
35,000
35,000
-
20,000
20,000
27,300
66,123
93,423
169,842
542,256
712,098

Income from charitable activities for the year ended 31 March 2024

Teams mission trips
Other income from charitable activities
Income from investments for the year ended 31 March 2024
Interest and dividends		 Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
1,640
-
1,640
1,123
-
1,123
2,763
-
2,763
Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
9,551
-
9,551
9,551
-
9,551

33

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

27 Prior year comparatives for notes to the financial statements (continued)

Expenditure on raising funds for the year ended 31 March 2024

Fundraising events & materials
Developing Mission - Raising the charity's profile
Staff costs
Investment management fees
Allocated support costs		 Unrestricted
Restricted
Total funds
funds
funds
2024
£
£
£
7,439
5,310
12,749
3,496
-
3,496
12,501
15,132
27,633
570
-
570
21,673
18,458
40,131
45,679
38,900
84,579

Expenditure on charitable activities for the year ended 31 March 2024

Church planting & development
Compassion projects
Evangelism & other ministry support
Developing Mission
Church planting & development
Compassion projects
Evangelism & other ministry support
Support costs for the year ended 31 March 2024
Staff costs
Central operating costs
Governance costs		 Grants
£
474,650
160,615
31,115
-		 Other
Support
Total

direct costs
costs
2024

£
£
£
44,917
71,108
590,675
18,981
24,170
203,766
3,743
4,624
39,482
23,336
3,291
26,627
666,380 90,977
103,193
860,550
Grants to
Grants to
Total
institutions
individuals
2024
£
£
£
474,121
529
474,650
160,615
-
160,615
31,115
-
31,115
665,851
529
666,380
Raising
Charitable
Total
funds
activities
2024
£
£
£
30,552
62,029
92,581
10,924
22,180
33,104
917
1,861
2,778
42,393
86,070
128,463

34

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

28 Contingent liabilities

Some grant commitments made by TEN to partners are open-ended. These are ongoing as long as funding is in place each time a grant is due to be paid. The charity considers there to be a constructive obligation that exists in such cases (either through a formal, written communication or informal, verbal commuication and precedent) but the amount of the obligation cannot be estimated reliably because it is not possible to determine how long the commitment will last and, therefore, the amount being committed. As a result, no liability is recognised in the financial statements, instead the existence of a probable, material contingent liability is noted here.

The intention is that such commitments are to be fully or partly funded from anticipated future income, with this being the decisive factor in the length of the commitment. Once changes to open-ended commitments crystalise and they become definitive, or should a reasonable estimate of the contingency become possible, these are recognised in the financial statements as grants payable within the relevant timeframe.

To give an understanding of the level of these ongoing but undetermined commitments, in the year ended 31 March 2025 the following grant amounts were paid under such commitments: £74,620 from restricted funds and £18,391 from unrestricted funds.

A cyber fraud incident occurred earlier this year, whereby a loss was suffered by one of the Charity's Payment Services Providers ( PSP ). On the basis that the relevant PSP is seeking reimbursement of its loss from the Charity, legal advice has been sought, and the situation is being dealt with appropriately. The Charity Commission and Action Fraud have been made aware of the situation. As the matter is ongoing, the financial impact on the Charity is not yet known.

35