THE NGM TRUST FINANCIAL STATEMENTS 31 AUGUST 2025 Charity Number 1143696 Company Number 07721640
THE NGM TRUST FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 CONTENTS PAGES Trustees, annual port Reference and administrative information 10 Independent Examinels report to the Trustees 11 Slatemenl of Financial Activities 12 Balance Sheet 13 Notes to the financial statements 14-22
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 The Trustees have pleosure in presenting their report and the financial statements of the charity for the year to 31 August 2025. The Tnjstees have had due regard. as required by the Charities Act 2011 to the Charity Commission's general guidance on public benefit when reviewing its aims and objectives and in planning its activitie5. Objects of the charlty The Charity s objects {Ihe"Obje¢ts"l are io advance religion by the promolion of the Christian faith through the provision of support. education. facilities. services and any other assistance as the Charity thinks fit to any other charity. class of person or specific person in England and anywhere else in the World. Structure, Govemance and Management The NGM Trust is constituted as a registered charity and was incorporated with ils memorandum and articles on 28th July 2011. New Trustees may be appointed by a resolution of the Trustees and recorded in the minutes. A Trustee can retire at any point by pulling hislher resignats'on in writing; this is also recorded in the minutes. The Trustees may in their absolute discretion remove any Trustee by a resolution proposed at a meeting of the Trustees as long as Ihis is approved by the majority. The Trustees also elect a chaimian and determine the period for which helshe is to serye. Organlsatlon The charity is governed by a l)oard of Trustees. (who a also directors for the purpose of company lawl which is responsible for setting the strategic direction of the charity and for establishing policy. The board of Trustees meets regularly and delegates the day to day operation of the charity to a group of experienced leaders led by Nancy Goudie. When Trustees are appointed, they are given a full OveieW of the charity's work and have the opportunity to ask questions, so they can understsnd the full scope of the charity and what the expectations are of them as a Trustee. Ongoing training for the Trustees is something that is recognised as important: there was an extensive training session for the Trustees in Autumn 2018, further training was completed in June 2022 and Ihis was updated again in November 2025. Review of the activities Our vision is to see lives transfomied by the message we carry throughout the UK and beyond and we certainly have seen that happen again this year. Through Ihe activities of the charity, we have seen many lives changed through the love of God and it is our privilege lo be able to share some of the stories with you in this pOrt.
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 Our main areas of operation are as follows: Conferences and events This year Nancy {and Zoe) have been ministering in several places around the UK and abroad from Scotland lo Yatley. from Preston to London and a few places in between as well. There isn't space in this report to write everything we have seen happen so here are a few of our highlights.. Whilst in ministering abroad in September 2024, Nancy spoke at a gathering in a home lo a group of over 20 people. All these people Nancy had seen before and what she shared had impacted their lives. On this visit she gave a copy of her book- You Are Loved - to each lady who attended. One of the wornen contacted the organiser to say she felt from the Lord that she should give her copy of the book lo a woman in her office and when she did the woman immediately broke down in learsl The lady who had given il lo her is so inspired at seeing what God did that she has now ordered more copies lo give lo others in her office! Al the women thal Nancy spoke lo were from various countries Africa. Middle East. India, Ausralia etc. Although they had a different faith or none, each one met with Jesus for themselves in a foreign land. All the women expressed lo Nancy how much her visits had deeply impacted them. They all wrote to Nancy- One lady said.. .1 am so gralefvl lo have mel you and also lo see you again. You encouraged me in a very crucial lime of my life. Thank youl" S. Another lady said, "Nancy thank you for blessing us with your presence and for everything you did for usl I'rn truly grateful for this experience Love B-. Another lady said, 'Nancy thank you so much for this incredible weekend. Your faith and light is an inspiration. I feel full of the Spirit aftèr your wonderous leaching- J." In Scotland In October 2024 we ran three events. The first was a Peace, Health and Wellbeing evening in a very deprived area of Glasgow lin the bottom 5 /0 of the most deprived places in the UK). These ladies were not Christians although a Christian lady who has been working with them for years pul on the event - this was their first light introduction to Christianity. Zoe briefly talked about her faith as part of wellbeing and then Nancy led a Christian meditation. All the ladies who allended said they fell stressed and anxious before they came and Ihey left feeling calm and relaxed. One lady asked Nancy if she was a psychic which led to Nancy sharing Jesus and giving her a You Are Loved book which one of the leaders is now going to go through wilh her. All the ladies said they slept better than they had before after the evening. The second was a Spiritual Health Day in Irvine. God did so much through the day bul the two highlights were that one of Ihe team had a word from God that someone was al the event who had been in care and had never really fell God could love them. As the word was given a lady who was talking to Zoe started sobbing saying 'lhal's me" She received prayer for the trauma of being in care and was totally set free and experienced God's love for herself. Another team member had a word of a note in a bottle with the word help on it and felt that there was someone there who fell God hadn't heard them but he wanted them lo know he had. A woman responded sobbing explaining her and her husband had been going through a really hard time in life and it got so bad that one night they wrote help on a piece of paper and pul il in a bottle and threw il out lo sea in frustration as they fell God hadn't heard them! She was able to know her prayers had been heard- and that God was working in their situation - incredible! There is so much MO but we don't have the space lo share il here. So many came to speak to us or pray with us afterwards expressing their thanks again and again. One lady told Nancy with tears in her eyes Ihal Nancy would never know how much that day had meant to her. In East Kilbride Nancy had a chance lo share with the church the miracles we have seen God do over the last while in NGM and to pray for them that God would increase their faith as individuals and as a church. It was a powerful lime. We also had the privilege lo pray for many in the church and afterwards they were discussing how much they valued hearing about what God as doing in the UK and abroad t(K).
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 In London Nancy spoke on grief at Christmas - the audience were so engrossed in Ihe story you could hear a pin drop as Nancy spoke. Many ofthe audience came up lo Nancy aftetwards saying how gralefvl they were for Nancy s honesty and how it had helped them in their journey through grief. One of the main events we have been working on during this ffinancial year is the Spiritual Health Relreals. We held one in March in Devon. These are for a small group of 20- 30 ladies. As you will see from the below report, God moved powerfully during this time. Every single lady who came heard God speak lo them during the retreat and many lives were transfomied. Here is a small summary Nancy wrote on her retum after that retreat= "So many people told me that through this weekend retreat God had transformed them. One lady said it far exceeded her expeclab'ons. The Lord woke me up al 1..30am and I had a huge burden to pray for the women al the retreat. As I prayed, I felt God download lo me a word for L - a pastor of a church. God told me lo read over her Jererniah 29.'11 which lumed out lo be her verse she got from God at the beginning of her calling years ago. She was handing over the leadership of her church to another pastor. She thought this was the best thing for her church. Bul God told me to tell her that he was not finished with her yel. God was not pulling her out to graze. Instead, he wanted to remind her that in the Bible there is no retirement from your calling. Zoe and I had not talked about this at all but as Zoe prayed for L that same night God told her to tell L God is not finished with her yet. The same words I gol. As I gave oul Ihis word Iwilh other things that God had said) God worked so deeply in this wonderful lady. She went home with the prophecy lo talk lo her church leadership team. She felt God transform her. She didn't know if she could come on this weekend as she was so under confident. She wenl back home Iransfomied and confident in her calling. Woohoo. God also downloaded to me about others and his word transformed their lives too. God downloaded his words to me for four hours in the middle of the night and the next day I thought I would be exhausted from not sleeping but instead I was energised and full of the Holy Spirit. An incredible sign that God had done something deep in me as well as these women. I had been feeling before this download that people would go horne having missed what God was doing and therefore would not want lo come back but instead God Iransfomied lives and they all want to come lo other events we are doing. You could physically and spiritually see the change God did in $0 many- their faces were shining with God's love. 11 was incredible.. Here's a report on another lady who allended the same weekend. When C arrived at the retreat, she was tired and really struggling. She didn't feel like God ever spoke lo her. During the first session she was thinking .1 bel God speaks lo all the others here, bul he won't speak to me." She really struggled with the spiritual exercises. On the Sunday moming session, she said she felt herself cornplelely change and she realised God could speak lo her and that he was indeed speaking to her. She says she MeMberS chatting to Nancy and she fell like a new person. Since she got back home God has really spoken lo her about what she can do." Il's such a privilege to see lives transformed by God through the work we do. Also, in April, Nancy spoke at a revival prayer meeting in Ayr in Scotland where il was humbling to see people of all denominations praying for revival. So many spoke with Nancy afterwards saying that God had spoken clearly to them during her talk. Nancy and Zoe then wenl on lo meet various church leaders and pastors across Scotland and from those that we met we have had bookings for our next visit lo Scotland. Nancy has been asked to lead a prayer session al a pastors, prayer gathering in January 2026 in Scotland for over 300 pastors. Nancy & Zoe have now gol more invites to speak in Scotland including a Spiritual Renewal meeting at Queens Park Baplisl Church {one of the largest Baptist churches in Scotiandl, plus speak at the same church on the Sunday moming. We also held an outreach event on the Friday night too at Queens Park. This whole weekend was such a blessing lo many. We prayed and talked with so many men and women after these services in AulLJmn 2025. We have also been asked to go back to one of the rM)oresl areas in Glasgow to run an event and also lo work wlh a group in Ardrossan who help people recover from addicbons. This loo happened in autumn 2025. We are excited as to what God is opening up in Scolland for our work. We held another retreat in May and had around 30 ladies attend from all over the country, although
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 the majority from the north. Again, God moved during the retreat in powerful ways. Many women experienced the presence of the Lord which was incredible. Before the retreat God had given Nancy words for 2 of the women who were attending the retreat. Both women immediately lold the audience afler receiving the word what this word meant to them and how it tied inlo what was happening in their lives. During the retreat Zoe ran a spiritual and physical spa experience and one lady told her afterwards how during this time, God had healed her from the pain and hurt she had been carrying due lo difficult things that had happened to her. She left feeling ready to take the next slep of the vision God had called her to. Another lady said that during the spiritual spa when Zoe read from Song of Songs, that this was the exact verse God gave her after her husband died 6 years ago. She fell God was moving her from the season of mouming to a season ofjoy and Ihal everything that was spoken that evening lined up with all Go(1 had been speaking lo her. A couple of quotes from delegates at the retreats- "I came exhausted and am leaving faith-filled! Beyond grateful for the ministry and look forward lo bringing more people." "I loved the Word, I loved the ladies, I didn't realise just how much I needed this.. Onllne events and resources One of the online events we run is called Tea & Cake with Nancy and this ran throughout the Autumn and Spring. They have been fantastic faith-filled evenings wilh many encouraged and inspired by Nancy s leaching and asked for prayer. One lady asked for prayer that her daughter's scan would be clear and emailed us during the next day saying God had answered those prayers. Another lady emailed saying, "Thank you so much for carving out a little time for me - l am tremendously grateful for all your encouragement, wisdom and support as I continue along this joumey." Zoe wrote a free online study on Acts in October. One lady wrote lo Zoe saying, "Thank you so much for these daily emails and walking through Acts, l am still relatively new in my faith having become a Christian al the spiritual health weekend this year. These daily emails from you are really helping bè me lo know Jesus on a deeper level.- We are excited to hear of even more Ihal God has done. Nancy and Zoe wrote an advent study and we have ceiVed some great feedback.. "Thank you both for a really good study. I have enjoyed it all and it makes me keen lo go through the Spiritual Health Encounters guide book again from the beginning11 worked through last yearl Nobody has me turning pages of my bible like Nancy.- "Hi would like lo say how much i have been blessed by the bible study l am doing - a little one on the aspects of God's love and then intend to do one on His pea using your references." We also have continued to run our prayer line in which many people are reaching out for God to work in their lives. We pray for them together as a team each week as well as individually. This is a report of answered prayer we received just recently from a lady who had asked us lo pray for her, "l also wanted lo thank you for your prayers for me and my heart concem when I couldn't travel whilst I awaited results. God is amazing tests came out clear I'rn healed." We also received this answer lo prayer from a lady who had contacted our prayedine a few years ago, "A few years ago, you asked us lo send In any prayer requests we had. l asked if you would pray for a wife for my younger son who then was in his mid-thirties. He has a strong, personal faith. He had had some 1 girtfriends, but nothing ever worked out. The desire of my heart was for MO than a girlfn'end - a wife. Now aged 41 in July this year he is marrying a delightful young lady. who is joumeying into faith with him. She is lovely and l am deeply grateful.- Over the summer in July and August Zoe has held 2 online physical and spirttual pampering
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 experiences. One was enb'tled Discovering Deep Peace and the olher one Glowing with Jesus. After the first one ladies who attended wrote saying. "I felt God say to me during the experience that he has a better plan than what my worying can come up with. To stay in his peace and wear his armour." Another lady said, "As the session started I was made aware Ihal this life is temporary and fear came over me very quickly and left just as quickly as I heard the Holy Spirit reassuring me and not lo fear. I had a sense of peace and something new stirred in my spirit last night. Thank you and God bless." Nancy was invited on a podcast with Peter Anderson (a pastor from Scouand who leads a global network of churches) which was released in September 2025. Nancy has received many comments from Ihose who listened lo this. Nancy has also recorded some short talks which will go out on UCB radio over the Aurumn in 2025. UCB are continuing to replay interviews elc that Nancy and Zoe recorded when they were last with them in July 2024. Muslc and resources Through our products, God has been on the move= "Hello Nancy I was so delighted to read your Facebook post this moming. Such beautiful words and so appropriate for me al the moment. While I'm having my radiotherapy treatment, l ask God to fill the room with His angels and pray for the radiologists and everyone wailing. Best bodyguard ever! I've been taking your book with me this week "You Are Loved. I'm sent into a changing room just before treatment and as I sit alone, I've read a different piece every day. My favovrite is your paraphrase of Psalrn 23. Thursday was a longer wail and I read "Do you know you are loved". This book has been a wonderful comfort and encouragement lo me...and il's been an essential companion during my treatment. Thank you so much. 10 days done and 5 to go.. We had an opportunity to give 100 copies of Zoe's book One Woman's Guide lo Lrfe lo local school mums who allended a wellbeing event. Many ladies said how excited they were lo read the book. All these books were funded through the generosity of our NGM supporters and local churches. It is so exciting lo gel these books filled with God's truth into the hands of so many unbelievers. Nancy has been busy this year writing a new book in her little book's series enlilled You Are Amazing. 11 was launched al the Spiritual Health Retreat in Devon and is already flying off the shelves. Many people are buying il for their non-christian friends. and we cannot wail lo hear all God does through these books. We are starting lo pray in the money needed to send a copy of each of these books lo New Hall prison lo be sent out in time for Christmas 2025. We received this lovely feedback about our resources and our conferencEs. from a18dy who brought a group of ladies from a mental health charity to the Spiritual Health Weekend, "l am pleased lo say that the women from my mental health charity were some of the first with those specific needs to receive bursary places al Nancy's conferences. The results for those people were liler811y life changing. Some are now giving back and encouraging others despite facing personal challenges. Nancy Goudie comrnunicales with people in a really relatable way. I can recomrnend that your books as they a a great blessing. A number of our ladies have been blessed with generous gifts of these books al conferences. Nancy reaches many that others don't reach. l also recommend these books for people's individual blessing and use in outreach.- Nancy has been working on writing new books over the summer which are Gift of Laughter Book 2 and The Beloved - God's promises and words for you as well as updating Spirilual Health Encounters with some new chapters on Wellbeing. These will be released in Autumn 20251January 2026. As well as Nancy's books, Zoe has been working on her new book which is a 28-day devotional entitled Living Life As You Were Created To Be and is due to be delivered in Dernber 2025. Leanne has also been working on her new book Breathe- A Guide To Calming The Anxious Mind and this loo will be released in January 2026. We are excited to have created all these new products which we know will
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 deeply impact the lives of all who read them. Local Work: In September 2025 we started our first local Wellbeing Book Club. Janice runs this club and the ladies who attend have been really enjoying the book bul also opening up about their struggles in life which is giving Janice opportunities to talk about her faith. After the first session. Zoe received this message. l just want lo say a huge thank you for your bk and to the lady running the group. I was made lo feel extremely welcome when I got there. I suffer with anxiety almost every day and I was so worried about allending the session. But I was able to speak with confidence and the other ladies who attended were really nice. I never thought I would be brave enough lo allend sessions like these but I was proved wrong today. Your book is amazing and il's going lo help not just me but many on their wellbeing ioumey." In February during our Wellbeing book club at which they are reading through Zoe's book One Woman's Guide To Life, one of the ladies asked Janice who is leading the session, what il means lo be a Christian. Janice was able to explain this lo her and she has invited her along lo the SpirilLJal Health Weekend. the lady was so excited she took the infomiation and is inviting her mum lo come tool The Peace, Health & Wellbeing evening was also really well received with ladies saying how much they enjoyed il bul also how much they got out of it. Zoe also had the incredible opportunity of eeling with a lady who reached out to her after the session. This is the lady s story. Hi I came lo tonight's wellbeing evening. I have recently had a baby and it's b8en the hardest 11 months of my lifè. I've unfortunately had ongoing physical health issues as well as my mental health being dangerous at limes, which is unlike me as my professional life is that of a HR Director. l am unsure how l ever did this currently. Anyway, I'm on a path to try get answers and treatment for physical female issues that have returned following the birth of my baby gir1, but l am slill struggling every single day mentally. So much of what you said tonight had me emotional as I've lost the love of myself completely. I have so Much in my brain going on bul I feel like I'm always in paralysis and just ignore and go silent on those who could help. I was wondering if you know of any good counsellors for talking therapies as I know I need this and think il's now time to take that huge step." Not only have we been able to refer her to counselling. bul she is also coming to meet up and talk with Zoe loo. In December we held our NGM Nativity which is now fast becoming an annual event. Local minister Peter Davies came and led the service for us and lols of the families we woth with through Inspire allended and their children took part in the Nativity. Again, this year parents were so grateful lo us for pulling this on for them and their children. Zoe took a wellbeing evening al a lady's house and one of the grandmas of the girl who had played Mary was there and said how much the Nativity setvice had impacted her. Personnel In May Nancy was invited lo join a consultation for Christian women in leadership run by SHE Leads- a global organisation and held in Windsor Castle. This consultation was for Christian women in leadership across all sectors of society from the UK and the USA exploring "Faith Based Solutions for Modem Day Challenges." There were around 45 Christian leaders present bolh frorn the USA and the UK and il was a great time for Nancy to network with others. Al the end of the event, they held an honouring ceremony al Windsor Castle in which 30 of these delegates were picked lo be honoured and 15 of these were picked for the SHE leads highest honour as a 'Woman of Distinction." Helena Crofl MBE, She Leads UK Director said this when she told Nancy she would be one of the 15 who would receive the award.. "All honourees are oulslanding in their fields but I feel that it is vital that you and 14 other delegates are recognised for your valuable conlribulion lo helping families thrive, organisalions flourish, and communities connect in the UK and beyond." The award was presented by Her Royal Highness Sophie. Duchess of Edinburgh and Nancy had a chance to personally meet and
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 speak with the Duchess. The Trustees are very proud of Nancy being awarded this honour and wanted to ensure it was highlighted in this report. Our personnel have continued to work hard during this year and have continued to give all their efforts into seeing the worf( grow. Premlses We continue to rent out Ihe premises to The Inspire Arts Trusl and it has been good lo see increase in rental income from them this year. We have been occasionally renting the premises lo other organisalions when the rooms are not in use. We are now also renting out part of the car park to AGE UK as parking charges have been introduced in Thornbury. All of this is helping lo cover the ongoing costs we have for the premises. Governance In March 2025 Jaqueline Harding was apwinted to join the board. Futurn We are looking ahead lo an exciting 202516 wilh another Spiritual Health Weekend and Several ministry trips lo Scotland in the diary. As well as this we are excited lo release more books and continue our online and local work. We could not do all we have done throughout this year without the incredible help we have from our workers, funders, volunteers. management team. Council of Reference and Trustees all of whom work so very hard lo see the vision of seeing lives transformed continue to become reality. We are looking forward to many more fruiiful years ahead as we conlinue to adapt to future challenges. Flnanclal Revlew ReseNes pollcy The Trustees have established a policy whereby the unrestricted fvnds not committed or invested in tangible fixed assets l.the free reserves") held by the charity should be between 3 and 6 months of the expenditure, which equates to between approximately £79,000 10 £158,000 in general ftjnds. At this level, the board of Trustees feels that it would be able to continue the current activities of the charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding woul(J be replaced or activities changed accordingly. Al the balance sheet date the free reserves were £20,583. These reserves have reduced during the year mainly due to the extra expenditure on Caedmon. There is an investment to the value of £636,537 which can be accessed should this be required. Investment powers and policy The Trustees can invest in any stocks. funds, shares, securities or other investments of whatsoever nature as the Trustees shall. in their absolute discretion, think fit. Funds surplus to immediate requirements are invested with Evelyn Partners (formerly known as Dart Capital) into various investments that have a medium risk profile. Given these are likely lo be held as investments for between 3- 5 years then the trustees consider this the best way lo invest. Funds that are r uired over the next one ear eriod are held on short term de osit.
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 Risk review The risk review was completed by the Trustees in August 2025. The major risks that the Trustees identified and the controls that are in pla are as follows-. Risk.. Loss of Key Management Slaff. Controls.. suSSIOnaSk Coverage Planning. Long Term Strategy110 years) needs to be reviewed. Insurance in place for the CEO if she was unable to run the conferences due to health. Health check-up and insurance is in place for the CEO and insurance for the General Manager. Action= The Directors are in ongoing discussions with the CEO regarding succession planning. Plans and suggestions re.. conferences in place or in progress have been discussed beeen the GM and CEO. Risk- Insufficient income. Conlrols.. Policy of maintaining SeNe$. Monthly VIeW of finances by CEO. Bi-annual review of finances by Directors. Fundraising Appeals set as and when needed.Action.' Obtaining a wider regular funding base lo help cover increased costs and also cover reduced income due lo people's circumstances changing. Identifying trusts lo approach to support projects and key staff. Meeting regularfy with main Trust providers to ensure any issues are raised early and managed accordingly. Risk - Risk of reputational damage from adverse publicity- Controls.. Good safeguarding procedures Monitoring of social media and linked sites. Social media policy issued lo all staff, volunteers and Trustees. The Trustees have continued lo consider the risks this year, many have been reviewed in meetings throughout the year. The risk review will continue lo be updated annually, unless an event occurs where it needs lo be reviewed more frequently. Since the last risk review. the Trustees are committed lo looking al the long temi succession plan for the charity. This will happen over the next financial year. Fundralslng As a charity, NGM fundraises in various ways. The majority of our fundraising is from individuals, whether al our conferences and events or Ihrough our mailing. We tske steps to ensure under 18's are never included in our fundraising mailings. we also ensure that at our ¢onferen¢es and events, there is never any pressure for any individuals lo give. Every offering, or chance to support us, is given wilhoul any pressure and we always StSS for people only to give if they feel able. We also raise finance for NGM through approaching Trusts, especially for the bursary funds and our prison work. Whilst the majority of fundraising in NGM is done through our Key Management personnel., we have taken on fundraisers called Chell Perkins for four months to specifically lo help us raise funds for the bursary places at the Spirilual Health Weekend in 2026. For those who sign up lo give regulat1y they are free lo slop al any time. ststomont of Tru$to&$' responsibilities The Trustees (who are also directors of NGM Trust for the purposes of company lawl are responsible for preparing the Truslees, 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 th8 UKand Republic of Ireland (United Kingdom Accepted Accounting Practice).
THE NGM TRUST TRUSTEES, REPORT YEAR ENDED 31 AUGUST 2025 Company law requires the Trustees to prepare financial slalemenls for each financial year which give a lrne and fair view of the stale of affairs of the charitable company and of the income and expenditure, of the charitable companyforthat periTrl. In preparing Ihese financial slalements, the Trustees are required to: select suitable accounting policies and then apply them consislenlly.. observe the methods and principles in the Charities SORP-, make judgments and accounting estimates that are reasonable and prudent.. slate whether applicable UK Accounting Standards have been followed. subject lo any material departures disdosed and explained in the financial slalemenls.. and prepare the financial statements on the going concem basis unless il is inappropriate lo presume that the charitable company will continue in business. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any time the financial position of the charitable company and enable them lo 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 irregularilies. Thls report and the financial statements have been ppared in accordance with the Companies Act 2006. the charitable Company's Memorandum and Articles of Association and the Sialement of Recommended Practice "Accounling and Reporting by Charities" Small company provlsions This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006. Registered office: Caedmon Complex Bristol Road Thornbury BS35 3JA Signed by order of the Trustees Mr R Collier-Keywood, Chaimian Approved by the Trustees on .9th Ap.nl 2026
THE NGM TRUST REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 AUGUST 2025 Charlty number 1143696 Company Number 07721640 Trnstees The following served as Trustees and directors during the year and since the year end.. Mr R Collier-Keywood Mr W McGinn Mrs J Banful Dr Jacqueline Harding (added 10" March 2025) Règlstsrod Offlcè Caedmon Complex. Bristol Road, Thornbury. BS35 Independent examlner Joshua Kingston BSC. FCA, Burton Sweet Limited Chartered A¢cA)unlants. The Clock Towèr, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol, BS48 1 UR Bank•r8 Bank of Scotland. Old Broad Street. London. 10
THE NGM TRUST INDEPENDENT EXAMINER'S REPORT TO TRUSTEES YEAR ENDED 31 AUGUST 2025 I report to the charity Trustees on my examination ofthe accounts of the Company for the year ended 31 August 2025. Respon$lbllltles and ba$1$ of report As the charity's trustees of the Company {and also ils directors for the purposes of company lawl you are restK)nsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act')- Having satisfied myselflhat the accounts of the Company a nol required lo 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 1.the 2011 Act')- In carying out my examination I have followed the Directions given by the Charity Commission under seclion 145{51 {b} of the 2011 Act. Indepondont èxamlner's statement Since the Company's gross income exceeded £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l a member of the Instilule of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examinalion. I confim that no matters have come to my attention In connection wilh the examination giving me cause lo believe that in any material respect.. accounting records were not kepl in respect of Ihe Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records: or 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 'lrue and fair view which is not a matter considered as part of an independent examinalion., or except for the matter of concem noted above the accounts have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102) I confim that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. ytox Joshua Kingston BSC. FCA, Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1 UR Date.. 8th April 2026 11
THE NGM TRUST STATEMENT OF FINANCIAL ACTWMES (including Income and Expenditure Account) YEAR ENDED 31 AUGUST 2025 Total Funds 2025 Total Funds 2024 Unrestricted Funds Restrlcted Funds Income from: Donations and grants Investrnents Charitable activrties Other incom8 166.479 10.949 46.584 2.182 41.201 207.680 10.949 46.584 2.182 225.074 12.633 139.083 1.302 Totsl Income 226.194 41.201 267.395 378.092 Expenditure on.. Charitable activrties 291.207 22.921 314,128 517.359 Total expendIre 291.207 22.921 314.128 517.359 Net Gainsllkjssesl on investmenls 40.958 40.958 61.817 Ngt Incomoll•xp•ndltur•l for th• y•ar 124.0551 18.280 15,7751 177.4501 Transfers between funds 13 (3441 344 Nét mov•m•nt In funds 13 124,3991 18,624 15,7751 177,4501 Total funds brought fonward 13 1.287,312 25,913 1,313,225 1,390,675 Total funds carrl•d forward 13 1.262.913 44.537 1 307450 1 313225 Th• Charity has no r8cognisèd gains or b)ss•s other than the r&suS for thè ar as sot out abov8. All of the actNit$ of the Charity are dasses as continuing. The conyaralN& funds are detailed in note 16. The notes on pages 12 to 20 fomi part of these financlal ststements
THE NGM TRUST BALANCE SHEET Charity numb8r 1143696 AS AT 31 AUGUST 2025 Company number 0772 1640 2025 2024 Fixed assets Tangible assets Inveslrnents 646,959 636.537 1,283,496 674.257 587,722 1.261,979 Curr8nt assets Stock Debtor5 Cash al b8nk 20.723 19,905 45,837 86,465 15.392 33,938 41,400 90,730 Cr•dltors . Am¢wnts falllng duè wlthln onè y•ar Net current assets 23,954 51,246 Net a8s•t8 1 307 450 1 313.225 Funds Rastrlctsd funds Unr•8trlet•d lund8 General funds 14 44,537 25,913 14 615,954 613,055 Designated funds linduding revalutKJn reserve of £105.55712024: £105.5571 14 646,959 674,257 1 307 450 1 313225 For the year ending 31 Augusl 2025 the company was entitd to exemplv)n from audit under seCt1n 477 01 the Companies Act 2006 r8lating to small compank?s. Directors, responsibilities.. The members have not required the company to obtain an audit of its accounts for the year in question in 8ccord8nce wth section 476, The Directors acknowlèdge their r&SponsibilitS for COmp.n9 wth the requir&m&nts of th& Act wth respect to accounting records and Ihe preparalK)n of accounts These awounls have been prepared in a¢cordance wth the provisK)ns applicabltr to wmpanies subject to the small companies, gime. Thesè financial statements re approvèd by the Trustees on -and arè sKJn&d on their b&half by.. Mr R Collier- KeyJK)od The note5 on pages 14 to 22 form part ofthese financial statements
THE NGM TRUST NOTES TO THE HNANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 Aeeountlng pollel•s al The financial statements have been prepared in 8c(x)r(lance vthh the StaterTnt of RecOmnded PrdctlC8'. Accounting and Reporting by Chanties preparing their accounts in accordance vAth Ihe Financial Reporting Slandard applic8b18 In th8 UK and R8pUbL of Ireland IFRS 1021 issued in October 2019 and th8 Financi81 R8POrting Standard applicable in the Unrted Kingdom and Republ of Ireland {FRS 1021 and Ihe Companies Act 2006 and UK General ACpted Pract as it appIS from 1 January 2019. The trustees consider the charity to be a going concem and a publ benefrt enlity. bl Income from donatKsns is included then there is evKlence of entrtknnt to the incon. ceIpt is probable and the amount can be measured reliabty, except as folk)w5'. i. M)en donors specify that donatK)ns given lo the chanty must be used in future accnunting periods. Ihe income is def8rred until thos8 perK)ds'. ii. Wnen donors impose conditions %thich have to be fulfild before the charfy becLsmes entitkd to use such incorne, the ineon is deferred until the pre-eonditK)ns have been met. cl Grants. including grants for fixed assets, a COgnIsed with#i thè accounts as the chatity receNes lom)al notification ol entitl8rrent. Grants receNed in the 8ccounling perod in SpeCt of lulure accounting perods 8re deferred until those periods. All material grants are disclosed in accordance vith the statent ol Recomnnded Practice. dl Expenditure Is recognised in the in it is incvrre(l. Expenditu indudes 8ttributable VAT which cannot be recovered. Charitablè èxp8ndrturè con¥)riS thosè costs ineuNè¢J by the &ntrty in thé dèfvèry of rts activitiès and s8tvkas for its beneficiar$. It includes bolh ¢05ts Ihat can be albcaled direclly lo such aclivities and those costs of an indirect natu necessary to support them. Govemance costs include those cosls asso¢ialed with neiing the ¢onslilutK)nal and Slalulory requirements of th entity and indude the audr( fees and costs Iked to the strategK management ol the entity. They ar8 included wrthin 8UPPOrt ¢o$t$. All costs are allocated between Ihe expendrture categoii8s of the StateThnt of Financial Activities on a bask5 desKJned to reflect the use ol the rnsourcè. Costs r•Lat¥)9 to a partthlar actwity are alk)catèd dir8etly. others ar8 apportioned on an appropriale ba5iS. Rentals applicable to operating lease a9reements vthere substantk?lty all of the benefrts and risks ol ownarship remain Mnlh the $sr are charged 8g8insl net Incon on a slraighl line b8si9 over the period ol the lease. el Tangible fixed assets costing rrore than £100 are caprtalised and induded at cost including any inadental expenses l acqLJiSrtK)n, èxcluding propèty %thich is hèkl at Ma1 valuè. Depreciation is calculated so as (o lie off the cosl of an asset, less ils eslimaled resmdual value, over the useful life ol that asset as follows.. Buildings- 0% slraNJht line Office equipwEnl - 33.3% stratyjht line Fixtures and fittings- 25% strtvJht lin8 Tèchnical èquipmènt - 20% strdKJht linè The Trustees of the charily cary oul an annual irypa1rent revw of the propertEs. BUlIng$ are subject lo a pol ol revaluation every S years. fl Stock included al the k)wer of cost or net reaknble value, after making due allowan for obsolete and slow rTr)ving items. gl Trydde and other debtor5 arp Trcognised al Ihe sett[TnI 8fTN)unt due after any Ir3de discount offered. Prepaym8nl8 are valued at the armun( prepahl nel of any trade discounts due. hl Cash at bank and cash in hand includes cash and short temi hIgh IHJu*J investtrEnts ¥wth a short malurity of three rTK)nths or18ss frorn the dat8 of acquisitK)n or openinq of th8 deposrt or similar account. il Creditors and prowsKJns a recognised Ythere the charty has a present oblwJation resurting from a past event that wll probabty resu in the trdnsfer of lunds to 8 Ihird party and Ihe aUnt due to settle the obligation can be measured or estimated lAb. Creditots and provisi)ns are nom)alty e0nised at their settleff£nt amount after allo¥Mng for any trade discounts due. Il Fixed Asset Investments are included al martet value al 31st Augusl. The SOFA indudes the net gains and bsses arising on revaluations and digposals during the year. 14
THE NGM TRUST NOTES TO THE HNANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 Accounting policies Icontinuedl kl Unrestricted funds can be used In accorfance swthin the charitabk obpcts at the discretK)n of the Trustees. 11 Designated funds are hjnds set aside by Ihe Trustees out ol unrestitted genertl funds lor specific future purposes or projects. ml Restricted funds can On be used for the spe¢ific purpose desKJnated by the donor. nl Invèstrn8nts are made for charitable purposès. Donatlons and grants Unre5tr1cted Re5tr1cted Total Funds Fund Funds 2025 Grants, donations and rpgular p19dges Covenants and grft aided donatn5 Grfl aid fyceivabl 126,288 32,101 8,090 166,479 24,837 13,093 151,125 45,194 11,361 207,680 41,201 Prlor y•4r ¢ompar•tlv•$ Unrestrlcttrd Fund¥ Rg¥trl¢tsd Totsl Funds Funds 2024 Gr8nls, don81ions and gUlar pledges Cuvenan15 and grft 8ided don8lK)ns Grfl aid ff¢eivabl 140,988 32,608 15,148 21,808 156,136 54,416 182,439 225,074 Donations of £2,48512024.' £2.7101 were rnceN8d from TnJste8s and other reted parties during the year. Ineom• from eharltabl• aetlvltl•s Unr••trlet•d Funds R•8trlctèd Total Funds Funds 2025 General Music and resourc&s Conferences and events Onlin• av&nts 23,210 6.538 16,485 351 46,584 23,210 6,538 16,485 351 46,584 Prlor y•ar eomparallvès Unr•8trlctèd Funds R•strlet8d Total Funds Funds 2024 Gener81 Music and soUrCeS Conferences and events 12,978 2,372 121,781 137,131 12,978 2,372 123,733 139,083 1,952 1,952
THE NGM TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 ExndItr on CharItstr aetlvlllès Dir•et Project eosts Support eosts Total 2025 Music and sOurceS Online events and resources Conferences and events Local Wort( 46,105 25,974 89,761 15.558 177,398 26,333 26,333 65,833 72,438 52,307 155,594 33,789 314,128 136,730 Prlor yèar eomparatlv$ Dlr•et ProJ•et eosts Support costs Total 2024 Music 8nd msourcès Onlina avènts and r8soure85 Conferances and evgnts Oth¢r dirg¢1 a¢lfviti$s 18,222 29,370 268,444 21,770 21,770 79,825 39,992 51,140 348,269 337.058 180,301 517,359 Support costs Premlses Costs Adm5n Costs Gov•rnanc• Total 2025 Music and resources Online events and sOurceS Conferences and events Local Work 15.079 15.079 37.697 12.604 10.744 10.744 26.861 5.372 510 510 1,275 255 26,333 26.333 65.833 18.231 136 730 Support C4JSts are alkjcaled on the basis of estThated usage. Plèas8 notè thg Confèrencè & Evènts ¢Jepartm8nl indude$ not onty thè Spiritual Haatth Wègkènd but 811 Rètrèats, Spiritual Health Days and any speaking engagerrents Nancy or Zoe have had during the year. This aLso includes the portion ol the support costs lo Ppare lor these. Prior year comparatives Premises Costs Admin Costs Governance Total 2024 Music and resource8 Online events and resources Conference5 and events Other direct 8Gtvities 13.238 13,238 48,541 48,404 123.421 8,199 8,199 30.064 8,199 54.661 333 333 1,220 333 2,219 21,770 21,770 79,825 56,936 180,301
THE NGM TRUST NOTES TO THE HNANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 EXnditre on charitale aetivities {eontinuedl Governaneè costs 2025 2024 Ind8pend8nt 8X8min8rfs fe8 Independent examination Oth8r s8Nie8s Statutory fèos 2,260 255 34 2,549 1,850 336 34 2,220 Net In¢omgllexpgndituro1 for the yg•r Thlj Is Jtst¢d after charglng.. 2025 2024 Depreciation Independent exarnin8tn lees Trusl&es' rnneratIn Reimbur5ernenl ol Truslees, expenses 26,131 2,260 29,284 1,850 Staff CoBts and Numb•rn The aggregat8 payroll cost5 were- 2025 2024 Wages and salaries Social security costs PenSn costs 147,132 12.666 7.698 167496 152.814 11.359 3.924 168097 No trmployee oceived gmluments ol nK)re than £60,000 during tho ¢ufftrnl year. The average number of empbyees Iheadcountl during the year were 912024.. 81 Tot81 othèr b8n8frts rac& by èmpk)yè8s during thè arW&re £4,091 12024.. £3,002) Taxatlon No provision is rn8de lor Coworydln Tax. 8$ the Chariiy i$ #b to ¢L4im full statutory exemptK)n subject to the proper application of all its chantable sOurces.
THE NGM TRUST NOTES TO THE HNANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 Tangible fixed assets Buildings (Caedmon Office complex) Equipment Technical Equipment Fittings Total Cost At 1 September 2024 AddrtnS At 31 August 2025 610.000 21.030 833 21.863 120.984 53.214 805.228 833 806,061 610.000 120.984 53.214 DepreciatSon Al 1 September 2024 Charge for the period At 31 August 2025 18.984 1.005 19.989 66.955 23.832 90.787 45.032 3.294 46.326 130,971 28.131 159.102 Net book valu• At 31 August 2025 AI 31 Au9USt 2024 610 000 646 959 610000 54 029 674 257 Caedffon Cornplex ha5 had Red Book V#lu8tKbn by an exiem81 NeY0T in February 2024. The historical ¢ost of th building was £504,443. Inv•8kn•nts 2025 2024 Llsted Snve¥tmgnts Al 1 September 2024 Acquisitions al cosl Proceeds on disposal Net gain on rev8luatvJn Al 31 August 2025 Cash and Cash equlval•nts 582,400 516,780 116,883 207,450 1107,5781 1203,6471 632,663 582,400 5.322 587,722 636 537 10 Stock 2025 2024 Stock
THE NGM TRUST NOTES TO THE HNANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 11 Debtors 2025 2024 Trade debtors Income tax debtor Inspire Arts Trust Prepayrnents Other debtOf5 240 2,435 283 15.408 1.539 19.905 1.956 1.639 25.886 4.457 33.938 12 Credltors: amounts falling due wlthln one year 2025 2024 Trade credrtors Other creditors Taxaln and socKal secunty Accwals and defeThed inco 4.545 2.583 2.322 53.061 62,511 15.731 3.360 1.405 18.968 39.464 AccnJ818 an¢J defgrred incom incrgas$d this year. lo incon* re¢eN¢(l in advance of 8 conferencg in 2026. 13 Mov•mont In lunds Year ended 31 August 2025 Galnl 110881 on EXpendIrI r¢v•ln of fix•d and loss•s assots I Sopt In¢¢m¥ •nd 2024 galns 31 Au9U$t 2025 Transfer• Restrlct•d 8ur8ary funds Spiritual Heatth Weekend Books CEO Wellbeing Warriors Soldiers CEO Warrior5 Wami Spaces Benefact Trust 3,636 875 1.452 15.810 2.890 1.250 6.366 4.495 {3,5641 {3,4061 {1.0881 {9,2901 1311 (1501 {2.8701 344 6.782 1.964 364 18.780 8.889 500 2.480 12.260 6.030 5.350 25.913 41.201 122.9211 344 44.537 Unrestrlcted funds Designated funds miss and art complex General funds 674.257 613055 1.287.312 128.1311 263.076 1291.2071 833 646,959 615954 13441 1.262.913 267.152 267.152 1 313225 308.353 314.128 1.307.450
THE NGM TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 13 Movement in funds (continued) ReStrted funds represent.. Spiritual Health Weekend bursary fund - albwng ladk?s from backgrounds of povety. abuse. street work and other challenging situatK)ns lo attend the weekend lor IItt or no cost. Some ol these funds were from specific tnJsls and rai5gd through 8pp8als to our support8r5. All rrK)ney r3is8d goes directly to pay lor part or full costs for the ladies who attend from the above backgrounds. Spiritual Heatth Days bvr5ary fund - ftjnds gNen to alkjw ladies from backgrounds of poverty. abuse. street work and other drfficutt circumstances lo atlend the days and be given encouraging resources to take away wth them. Book bursary fund this has been set up during the pandemic to get our book5 and CDS into pla$ where we coukln't physically go such as prisons. foodbanks. debt advicE centres etc. The need was so great during the pandemic that we were askèd by the agèncs MY)thing ¥th the rÈcipnts to (xjntinuè thL% fund. In the last year wè have given away book5 to many places. induding from a k)cal school and inmates at New Hall prison this Christmas. CEO Wellbeing - this fund was given specrfi¢ahy after the CEO had her traurTWt¢ brain injury t(> aid her ¢0Very and wellbeing k)nger tem. The Trustees have used this as requested lo cover iThegular expenses occurred by the CEO during her k)ng8r-tenm r8covèry. This has bèèn dèdarèd on a PSA Settment agrÈèmnt. Warriors - this fun(J comprises nK)ney 01 £1,000 or n)ffj vknich w8s gtin lo help th8 extr8 funding ne8ding Its b raised towards salaii8s for staff. Soldiers thi5 fund comprise5 )neY regular donated SMalr alrunIS are given to help the extra funding needing to be rais&d towards salaries for staff. CEO Warriors - this trK)ney w8s grven to help towards funding Nancy Goutjie's saLqry. Wam Spaces - this is a grant from South Gbucester5hire Council to provide a wann space in the winter and c£Jol space in the summr where kjcal rnsidènts can conw fr88 of charge. This is held nK)St weekday aft&moons at our Complex. 8enelacl Trust - Ihts w8$ given io help ihe 01 8v8ngelL%m in our local 8re8. Th& worf( indudes running Wellbeing Book Club, holding a Nalivily seryice and caring lor those in need by giving food and other resources. Year ended 31 August 2024 Galnlllossl on Exp•ndllur• revaln of fix•d •nd I*¢¥ a¥¥ets 1 S•pt Incom• and 2023 galns 31 August 2024 Tr•n¥fer• R$$trl¢t¢d 8ur$•ry fund$ Spiritu81 Health W8èkènd Spiritual Heafth Days Books CEO Wellbeing Warriors Soldiè CEO Warriors 6,004 1,927 1,860 5,725 23,887 126,2551 {1,9271 {1,7251 {4.2731 3,636 740 875 1,452 15,810 2,890 1,250 25,913 15,810 2,900 1,250 44,587 1101 15,516 134,1901 Unr•striet•d lund8 Designated funds MIssrn and art complex Génèral fijnds 694,454 680,705 1,375,159 129,2841 453,885 1483,1691 9,087 9,087 674,257 613,055 1,287,312 39S,322 395,322 1,390,675 439,909 517,359 1,313,225 Th8 Mission and Art c0[npX d8svJnated fund inthd85 a r8valuatK>n serve of £105,557 12024.. £105,557).
THE NGM TRUST NOTES TO THE HNANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 14 Analysis of net assets Analysis of n•t asséts at 31 August 202S Tangible fixed assets Other assets Investments Total Restricted fvnds Spiritual Health Weekend Book Bursary Fund CEO Wellbeing Warriors Soldiers NG Warriors Wam Spaces Benelacl Trust 6.782 1.964 364 18.780 8,889 500 2.480 4,778 6.782 1.964 364 18.780 8.889 500 2.480 4,778 Deslgnated funds Mission and art corr¢)bx General fund5 646,959 646,959 615.954 1.307.450 636,537 636.537 20.583 23,954 646.959 Analys18 of net assots at 31 August 2024 T•nglblè fix•d assets other assets Inv•sknents Total Re8trlct0d funds Spiritual Health Waekend Book Bursary Fund CEO Wellbeing Warriors Sol(Jiers NG Warriors 3,636 875 1,452 15,810 2,890 1,250 3,636 875 1,452 15,810 2,890 1,250 Deslgnated fvnds Mission and art conpkx General fund5 674,257 674.257 613055 51 246 1 313225 587 722 587 722 674 257 20
THE NGM TRUST NOTES TO THE HNANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2025 15 Rglatsd party transa¢tions The Inspire Arts Twst is a chanty in Wthh R Collier-Keywvod and Mr D McGinn are also Trustees. At the Balance Sheet date. The Inspire Arts Trust owed Ihe charily £283 12024.. £1.6391. This was for IT and telephone provision lor Au9USt vA)Id) Was PaKI in September 2025. During Ihe year the charity invoiced £29,991 12024.. £16.6021 to The Inspire Arts Tnjst for rent and administratKJn expenses. The Inspire Arts Trust invoiced NGM £625 12024.. £361 for cosls incuffed on their behaN. AnK)unts due to The Inspire Arts Trust are disclosed as £nil of creditors f811ing due wthin one year12024.. £nill. The Trustees consider the key management petsonnel of the d)3rity to be themselves, the Chief Executwe Officer and the Generdl Manager of the charity. Total MUnratJn 8nd benefits r8ceNed by key management personnel and reL2ted parties during the year £113,24812024'. £131,9881 As stated in note S, no Trustees received any remuneration during the year. There are no other ted party transactnS other than Ihose alalY disthsed throughout the financlal slatenIs. 16 ComparatSve Slalemont of Flnanclal Acllvltlos Total Funds 2024 Unro8trlct•d Funds Re$trlct•d Funds Income from: Donations and grants Inveslrnents Charitable activities Other sources 182.439 12.633 137.131 1,302 42,635 225.074 12.633 139.083 1,302 1,952 Total Incomo 333 505 378 092 Expendlture on.. Charitable activities 483,169 34,190 517,359 Total eXpendIre 483 169 517.359 Net gainsllk)ssesl on investments 61,817 61.817 Not Incomelexpendltur• {87,8471 10,397 177,4501 Ngt mov•ment In funds 187,8471 10,397 177,4501 Total funds brought Iard 1,375,159 15,516 1,390,675 Total funds carrled forward 1 287 312 25 913 1.313.225 22