Registered number: 07759253 Charity number: 1144227
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE VEAR ENDED 30 SEPTEMBER 2025
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (Acornpany Ilmlted byguaranteo) CONTENTS Page Reference and Admlnlstrative Details of the Charity. its Trusteesand Advisers Trustees, Report Independent Auditors, Report statement of Flnancial Actlvlties 10 Balancesheet 11 Cash Flow Statement 12 Notes to the Flnanclal Statements 13-25
GLOBAL FELLOWSHIP OFCONFESSING ANGLICANS {Acompany limited by guaranlee) REFERENCE ANDADMINISTRATIVE DEfAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Registered name Global Fellowship of Confessing Anglicans {Operating narne- 'Gafcon") Trngtees Mr D8vid Monro. Chair (resigned 10 December 2025) Rt Revd John Guernsey, Chaii since 10 December 2025 Mrs Sarah Finch Mr Olayinka Fisher Revd Chris Green Mr Emmanuel Kampourls Preb Charles Marnham Most Revd Dr Laurent Mbanda Dr Laurence Scandrett Rt Revd Paul Donison Ms Carolyn Parlato Mr Joel Reinhardt Comp8nyregl8tratlon no. 07759253 Charityrogistratlon no. 1144227 Reglstered office Christ Church Central The DQ Centre Fitzwilliam Street Sheffield S14JR Companysecretary Revd C8non Jodie McNeill Independenl auditors Griffin Stone Moscrop & Co CharteredAccountanls 21-27 Lamb's Conduit Street London WCI N 3GS Solleltoys Charles Russellspeechlys LLP 5 Fleet Place London EC4M 7RD Bankers HSBC 12A North Street Guildford Surrey GU14AF Investment Managers Rathbones Investment Management 30 Gresham Streel London EC2V 7QN Page 1
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS {A¢ompany limited byguarant•e) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report for the year ended 30 September 2025 Ltnder the Companies Act 2006 and the Charilies Acl 2011. together wilh the audited financial statements for that year. The financial statemenls eomply with the requirements of the Companies Act 2006, the Charity's memorandum and articles of associatlon and the relevant Statements of Recommended Practice (the Charities SQRP) "Accounting and Reporting by Charities" applicable to charities preparing their financial statements in accordance with the Financial Reporting Slandaid applicable in the UK and Republic of Ireland IFRS 102) effective 1 January 2019. Since the company qualifies as small under seclion 383, the strategic report required of medium and large companies under The Companies Act 2006 {Stralegic Report and Director's Report) Regulations 2013 is not required. Structure. Govemance and Management a. Govemlng Docunwft and Constltution The Charity is corsslituted as a charltable company limlted by guarantee, incorporaled on 1 September 2011 and registered as a charity under charity number 1144227. The charitable company's governing docijments are in the revised Artlcles of Association adopted on I l March 2024. These revised Articles have slrengthened the Governance ol the Company by sepaiating the functions of Directorship and Membership. b. Oryanisalional Stwcture 8nd Decision Making The management of the charttable company isthe responsibility of the Truslees who are elected andloi co-opted under the terms of the Articles of Association. The Trustees met fourtimes during the year as a board. There is also an Annual General Meetlng IAGM) involving the Guarantors. usually held in March or Aprll. During the reporting year the day to day management was delegated to Ihe General Secretary, assisted by a secretariat led by the Global Operations Manager, who is also Company Secretary and Secretary to the Trustees and the Guarantors (the members of the company). c. Mthod of Appointment of TNstees Article 20 deals with the appointment and retirement of Trustees. The Trustees may ctropt a person who is willing to act to be a Trustee either to fill a vacancy or as an additional Trustee provided that ihe appointment does not cause the number of Trustees to exceed any number fixed by or in accordance wilh ihe Articles as the maximum number of Trustees. A Twstee so appointed shall hold office until the next AGM. No new Trustees were appointed during the year. d. Meetings and Policies Adopted for the Induction and Training of TNstees New Tfuslees are inducted through a briefing carried out by the Chair which aims to give a new Truslee an inilial understandlng of the Governan of the Charity. and its Present position spiritually, operationally and financially. including an understanding of any slgnificant risks. The Chair carries out a periodic evaluation of board effectiveness and discusses the findings with the Tnjstee Board and the Guarantors with a view lo ensuring ihe Board operates effectively and has the right overall balance of skill and competence. Page 2
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (A company limlted by guarantee) TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 21Y25 e. Rlsk Managwnént The Trustees have assessed the major risks to which the ch8rit8ble company is exposed, in particijlar those related to the operations and finances of the charltable company. and are satisfied that systems and procedures are in place to mitigate the Charitls exposure to the major risks. Objectives and Activlties a. Pollcies and Objectives The charity's objects are specifically restricled to the advancement of the orthodox Anglican Christian faith for the benefit of the public in accordance wlth thetenets of orthodoxy sel out in the Jerusalem Declaralion declared on 29 June 2008 at the Global Anglican Future Conference and which is set oul in ihe Schedule to the Articles. In setting objectives and planning for activities for the year, the Trustees have considered the Charity Commission's genèral guidance on public beneflt and Its specific gLtidance on the advancemenl of religion. Achlevements and Performance a. Golng Concern After making appropriate enquiries. the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable *Ltture. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details iegafding the adoptiors of the going concern basis can be found in the Accounting Policies. b. Rèview of Activitles To fulfil the charitable objectives. against the backdrop of the Church of England General Synod's resolution to welcome their bishops. Proposals for prayers of blessing for same-sex vnions in contTavention of the Bible, and the lack of orthodox leadership in the Anglican Communion slructures, Chartycarried (xrtthefcl(p activities inthe period- 1. Canon Daniel Willis stepped down as Global Operations Manager during the year, and was replaced by Canon Jodie McNeill. 2. In March 2025 we held our G25 conference in Plano, Texas, with the theme of 'Leading the Renewal- (of the worldwide Anglican Communion). 170 leaders from 25 couniries were present, including 10 Piimates and 83 other bishops and archbishops. The particlpants agreed that Ihe four defining features of Gafcon. the basis of our fulure operations, were.. Gathering authentic Anglicans Guarding God's Gospel Growing orthodox leaders Generating missional resources 3. Discussions have ¢ontinued with the Global South Fellowship of Anglican churches IGSFA) on proposals for resetting ihe Anglican Communion. 4. The Bishops Tralning Institute continued in the year. with BT1 belng held in Kigali in October 2024. There were 17 participants (bishops and their wives) and 10 faculty members, representing 9 Anglican Provinces. 5. Gafcon has maintained onlirle resources to build up and encourage faithful Anglicans worldwide wtth OLÈr website and online prayer diary 6. G8f¢on ¢ontinues to provide support for faithful Anglicans and orthodox Anglican slructures around the world= it has continued to support the Anglican Network in Europe and its three convocations.. it has been supporting the Alliance. coTrsisting of various gfoupings of orthodox Anglicans within the Church of England, who have been seeking to esiablish a third province in response to the proposals for Prayers of Love & Faith. It Pag83
GLOBALFELLOWSHIP OF CONFESSING ANGUCANS (Acompany limited by guarantee) TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2W25 has continued its support for the Church of Confessing Angllcans in Aotearora New Zealand. the Diocese of ihe Souihern Cross in Australla and Ihe Reformed Evangelical Anglican Church of Southem Afrlca. 7. During Ihe year we engaged Rathbones Investment Management to manage and invest the funds in our Endowment Fund. Over the 7 months from iheir engagement to 30 Seplember 2025 the returns achieved were income of 1.2% and capital growth of 5.6%. The Endowment Fund value was £2,358.426 at 30 Seplember 2025. 8. During the year, the individua5 and organizational support base increased by 37% from 286 to 391 donors. However, gift income decreased by 84%. chiefly due lo the pievious year including a particularly large endowmenl donatlon. The number of subscribeTS to Gafcon decreased by 10% duTing the year. g. Since 30 September 2025= Our Chair of Trustees Mr David Monro stepped down in December the new Chalr of Trustees is Bishop John Guernsey. In Oclobei 2025 our Primates met in Sydney,. following this meeting, the Primates Council Chairman and Trustee. The Most Revd Dr Laurent Mbanda, issued a statement calling for the reordering of the Angllcan Communion A further Bishops Training Institule, BTI-9, has just been held in Abuja. Nigeria. At the date of approval of this report, we are holding our G26 conference in Abuja, Nigeria, to prayerfully consider the reordering of the Anglican Communion. c. Factors Relevant to Achieve Objectives 1. Our success continues to be the movement's unity in ChrisL i.e. all working foi the same Lord, having been saved by the same Gospel. all trusting in the same Scriplures and all motivated bythe same cause- lo exalt Christ in word and deed. 2. The abilily to give suslained attention lo our Purpose using our own paid intemal resources, the volunteer resources available in the whole fellowship and by engaglng with other Christian partners who shareourvalues. Flnanclal Revlew Principal Ri$ks and Uncertalntles Principal risks and uncertainties arise from the vulnerability of the current financial model to an external shock and the low awareness among Anglicans globalFy of the Gafcon movement and rls misslon. These have all been magnified by current global economic issues. As a global orgttnisation. worsening economic conditions affect the voluntary income. With ihe movement of Anglican provinces away from orthodox Christian belief, particularly within the Church of England, there Is an Increase In those seeking support from Gafcon. b. Reserves Policy The Twstees aim to maintain reserves at a level which will cover (al the amount required to be able lo pay the Up-froftt costs of the fiv&yearly conference, estimated al approx. £500,000,- and Ib) the level required io meet our obligations to staff, volunteers and stakeholders in the event of an unplanned closure. eslimated at approx. £50.000. In order lo meet ihe requirements of (a), £453.218 is held in a designated fund, the GAFCON V 2028 Designaled Reserve,. this along with ihe restricted GAFCON IV Bursary Fund. will provide the level of reserves required to cover up-front costs of future conferences. As at 30 September 2025 the Chafrty had free reserves - unreslricted reserves less fixed assets and fixed asset investments- of £209,116 (2024.. £652,218). The Truslees ole that the reserves ale above the required level and will continue to monitor the position. The Chafltls cosls have been funded in the Current year by generous donations from Provinces, di0Se$. churches and individuals and by specific grants m8de by other Chrislian charilies. Ir¢ addition, our GAFCON IV Conference made a large surplus which increased our reseNes levels. Page 4
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (A company limited by gtsarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 21Y25 Inveslmenl Policy The Ch8rltys aims to invest in a diversified portfolio of investments, with an eye to bolh fixed interesl/liquid investments and capital gTOWth. The Charity will not invest in businesses involved in pornography, gambling, alcohol manufacture, controversial weapons such as clusier munitions and land mines. lobacco manufacture, significant thermal coal, and other areas inappropriate for a Christian charlty. Plans for the Futufe Gafcon's future directi(m is the subject of the G26 conference being held in Abuja. in particular seeking to stand firm for the orthodox Anglican faf(h in the face of developments within the Church of England, to engage with the Global South Fellowshlp of Anglican Churches about a resetting of the worldwide Anglican Communion, and to support faithful Anglicans worldwide. Trnstees, Responsibilftles Statsment The Trustees (who are also direclors of Global Fellowship of Confessing Anglicans for Ihe PLTrrposes of company law) are responsible for preparing the Trustees, report and the financial staterllents in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢¢epted Accountlng Practice). Company law Tequires the Trustees to prepare financial statements for each financial year which give a irue and fair view of the state of affairs of the charitable company ar¢d of the incoming resources and application of resources, including the income and expendilure, of the charitable company for that period. In preparing these financial statements, the Trustees are required io.. select suitable accounting policies and then apply them consistenily,. observe the methods and principles In the Charities SORP (FRS 102),. make judgments arkd estimales that are reasonable and prudent,. state whether applicable LIK Accounting Slandards have been followed. subject to any materi81 departures disclosed and explained in the financial statements-, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of ihe charf(able company and enable them to ensure thal the financial statemenls 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. Dlsclosure of Infomiatlon toAuditors Each of the persons who are Trustees at the time when this Trustees. report is approved has confirmed th8t-. so far as that Trustee is aware. there is no relevant audit information of which the charitable companls auditors are un8ware,and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be aware of any information needed by the charitable companls auditors in connection with preparing Iheir report and to establish that the charttable cornpany s atjditors are aware of Ihat information. Sn preparing this report, the Tfustees have taken advanlage of the small companies, exemptions provided by section 415A of the Companies Act 2006. This report Was approved bythe Trustees on 2 March 2026 and signed on Iheir behalf by.. ohn Guernsey, Ch Page 5
GLOBAL FELLOWSHIP OF CONFESSINGANGLICANS (A ¢ompany Ilmlted by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS Opin•on We have audTted the financial statements of Global Fellowship of Confessing Anglicans (the'chaiitable companl) for the year ended 30 September 2025 which comprise the Statement of Financial Aclivities, Balance Sheel and Cash Flow Statement and notes tothe financial statements, including a surnmary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accourrting Slandards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounlirbg Practice). In our opinion the financi81 statements.. give a true and fair view of the state of the charitable companls affairs as a130 Seplember 2025, and of its incoming resources and application of resources, including its income and expenditure, for the yearthen ended,. have been Pfoperly prepared in accordance wlth Untted Kingdom Generally Accepted Accourrting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Irrternational Standards on Audiling (UK) (ISAS (UK)) and applicable law. Our respor¢sibililies under those standards are further described in the Auditorfs responsibilities for ihe audit of the financial stalemenls section of our report. We are independerrt of the charitable company in accordance with Ihe ethical requirements that are relevant to our audit of the financi81 statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibiltties In accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provlde a basis for our oplnlon. Con¢luslon$ relating to going concern In auditing the financial statements, we have concluded Ihatthe trustees, use of the going concern basis of accounting in the preparalion of the financial statements is appropriale. Based on ihe work we have performed, we have not identified any rftaterial uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least Iwelve months from when the financial statements are authorised for issue. Our responsibllitles and the responsibilities of the trustees with respect to going concern are described in ihe relevant sections of this report. Other informalion The other information comprises the information included in the trustees annual report, other ihan the financial statements and our auditor's reportthereon. Thetrustees are responsible forthe other information conlained within the annual report. Our opinion on the financial statements does nol ¢over the other information and, except lo the extent otherwise expll¢itly stated in our report, we do not express any fomi of assurance concluslon Ihereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the flnanci81 statements Of our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misslotements, we are required to determine whether this gives rise to a material misstalement in the financial statementsthemselves. If, based on the work we have performed, we conclude that there is a material misstalemenl of this other informatiors, we are required to report thai fact. We have nothing to report in this regard. Page 6
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (A company limlted by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the trustees, report for the financial year for which the financial statemenls are prepared is conslstent with the financial statements., and Ihe trustees, report (including the directors, report) has been prepaTed in accordance with applicable legal requirements. Matters on vthlch w• are requlred to roport by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the ourse of ihe audit. we have not identified material misstatements in the strategic report and the directors. report. We have nothing to report in respecl of the following mattels In relation to which the Companies Acl 2006 require us to report lo you if, in our opinion.. the infoTmation given in thefinancial statements is inconsistent in any material respect with the tTustees' repo or the charitable company has not kept adequate accounting records,. or the financial statemenls are not in agreement with the accounling records and returns,. or we have not received all the information and explanations we require for our audit.. or the trustees were not entr(led lo prepare the financial statements in accord8nce with the small companies. regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement lo prepare a strategic report. Responslbilities of trustees As explained more fully in the trustees, responsibiltties statement, the trustees (who are also the directors of the charitable company for the purposes of Company law) are responsible fof the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such inlemal control as the trustees determine is necessary to enable the preparation of financl81 statements that are free from material misstatemenl, whether due to fraud or eTroT. In preparing the financial statements. thetrustee$ are responsible for assessing ihe charitable companls ability to conlinue as a going concern, disclosing, as applicable, matters related to going concem and using the going conce¥n basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Auditors, respon$lbllltles for the audit of the financial statements Our objeclives are to obtain reasonable assurance aboLrt whether the flnancial statements as a whole are free from material misstatement whether due to fraud or error. and io issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accofdance with ISAS (UK) will always detect a maleri81 misstatement when it exists. Misstatemenls can arise from fraud or error and are considered material if, individually or in ihe aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are in8lances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The specific procedures designed and implemented to detect irregularilies, Including fraud. are detailed below: General enquiries with management and those charged with govemance., Making specific enquiries of management lo identify the processes and procedures designed and implemented lo evaluate the appropriateness of receiving slgnificant donalions.. Page 7
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (Acompany Ilmited byguaranteo) INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS Carrying out substantlve checking to supporting documerrts on a sample b8sis of individualtFans8clions wfthin income and expendlture to give comfort that on a sample basis the SOFA does not conlain any irregular items.. Carrylng OLrt walk-through testing lo verify that the charity's accounting systems and conlrols are being implemented as designed,. Verifying the existence on a sample basis of individual employees on the payroll,. Verifying that material balances within the balance sheet are supported by third party evidence to confirm the exlstence and valuation of these balances ai the balance sheet date: and Reviewing minutes of trustees. meetings. Because of the Inherent limitations of an audil. there is a riskthat we will not detect all irregularities. including those leading to a material misstatement in the financial statements OT non-compliance with regulation. This risk incieases the more thal compliance wf(h a law or regulation is removed from the events and transaction5 reflected in the financial statements, as we will be less likely to become aware of instances ot non-compliance. The risk is also greater regarding irregularities occurring due to fraud r8ther than error, as fraud involves illtenlional concealment forgery, collusion. omission Of misrepresenlation. As part of an audit In accordance with ISAS (UK). we exercise professional judgment and maintaln professlonal scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or er¥or, design and perform audit procedures responsivetothose risks, and obtain audit evidenceihat is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstalement resulting from fraud ig higher than for one resulting from error. as fraud may involve collusion, folgery, intention81 omissions. misrepresentations. or the override of Internal control. Obtain an Ltnderstanding of internal control relevanl to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charilable companls internal control. Ev8luatethe approprl8teness of aceounllng policles used and the reasonableness of accounting estimates and related disclosures made by the Irustees. Conclude on the appropriateness of the trustees. use of the going concern basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company s ability to continue as a going concem. If we conclude that material uncertainty exists, we are required to draw attention in OUT auditorfs report to the relaled disclosures in the financial statements or, if such disclosures are inadequate, to modify our oplnion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may Cause the charitable company to cease to continue as a going concern. Evaluale the overall presentation, structure and content of the financial stalemenls, including the disclosures. and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with govemance regarding, among other matters, the planned scope and tirning of the audit and significant audit findings, includirig any sigllifieant deflciencies in internal control thal we identify during our aijdit. Page 8
GLOBAL FELLOWSHIP OF CONFESSING ANGUCANS (Acornpany limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS Use of our report This Teport is made solely to the charitable companvs members, as a body. in accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the ch8ritable company s members and irustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilily to anyone other than the charitable company, the charitable compan$ members as a body and the charitable company's trLbStees 8$ a body. for OLFT audit work, for this report, or forthe opinions we have formed. Rlchard Hill FCA (Senior statutory auditor) for and on behalf of Griffin Stone Mos¢rop & Co Chartered Accountants Statutory Auditors 21-27 Lamb's Condult Street London WC1N 3GS I IL (lknk ?026 Page g
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES {Incorporating an income and expenditure ac¢ount) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Pemianènt Restricted Endowment funds funds 2025 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Income from: Donations and legacies 158,432 128.013 89.096 375.541 2,291,267 Charitable activities- conference fees 17.515 17,515 Investment income 7.405 347 25.389 33,141 1.417 Other income 384 Exchange gain on uninvested endowment funds 33,612 33,612 Total income and endowments 183.736 128.360 148.097 460.193 1292,732 Expended on: Raising funds 36,707 1,102 9,929 47,738 49.225 Charitableactivities 252.452 121.088 373.540 354,968 Exchange loss on uninvested endowment funds 133.773 Totsl exponditure 289,159 122.190 9.929 421,278 537.966 Realised Inveslment gainslllosses) (11,877) {11.877) Nét ineome for the year (105.423) 6.170 126.291 27.038 1,754,766 Unrealised Investfflent gainsl(losses) 67 156.626 150,693 Total Movement in Funds (105.356) 6,170 282.917 183,731 1,754,766 Total funds at 1 October 2024 652.518 66.652 2.075.509 2.794.679 1,039,913 Total funds at 30 September2025 547.162 7222 2.358.426 2.978,410 2,794,679 The notes on page$ 13 to 25 form part of these financialstatements. Page 10
GLOBAL FELLOWSHIP OF CONFESSINGANGLICANS IA company Ilmlted by guarantge) BALANCE SHEEr ASAT 30 SEPTEMBER 2025 2025 2024 Noté Fixed assets Tangible assets Investments 11 814 12 2,740,567 2.741,381 Current as$ots Oebiors Cash at bank 13 17.660 254.032 41,419 2,783,532 271.692 2,824,951 Credltors: amounts falling due withinone year 14 (34.663) 130.2721 Net ¢urrentass6ts 237.029 2.794.679 Net assets 2.978.410 2,794,679 Charitable funds Permanent Endowmenl funds Restricted funds Unrestricted funds.. Designated GAFCON V 2028 reserve General Funds 16 2.358.426 72.822 2,075,509 66,652 15 15 453,218 93,944 446.602 205.916 Totsl funds 2,978,410 2.794.679 The company's financial statemenls have been prepared in accordance with the provisions applicable to companles subject to the small companies, regime. The financial statements were approved by the Trustees on 2 March 2026 and signed on iheir behalf by: evd John Guemsey, Chalr The notes on pages 13 to 25 form p of these financialstatements. Page11
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS IA company limited by guaranteg) CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Parment Endowment funds 2025 Unrèstrlcted Restricted funds Funds 2025 2025 Total funds 2025 Total funds 2024 Note Ca$h Flows from Operating Activities: Net cash provided byllused in) operating activities 18 89 16 1,711681 Cash flows from Investlng Activities Dividend$ And interest from investments Purchase of fixed assets Proceeds from sale of investments Purchase of investments 7.405 {1,085) 347 25.389 33.141 {1.085) 117,974 117,974 (337.165) {40,000) 12.336,560) (2.713,725) {330.845) , {39.653) (2,193.197) {2,563.695) Change in cash and ¢a$h •qulvatents In the year (420,161) (33.830) (2.075,509) {2.529.500) 1,711681 Cash and cash equivalents at i October 2024 641.371 66.652 2,075,509 2.783.532 1.070,851 Cash and cash equivalents at 30 September2025 19 221.210 3222 254.032 2.783.532 The notes on pages 13 to 25 form part of these fln8ncialstatements. Page 12
GLOBAL FELLOWSHIP OF CONFESSINGANGLICANS {Acompany limiled by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Attountlng pollcies 1.1 Basis of preparation of financial statements The financial statements have been prep8red in accordance wilh AccoLsnling and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financ181 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effectlve l January 2019) (Charities SORP (FRS 102)), the Financial Reportlng Standard applicable n the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the charitable company. and are rounded to the nearest £1. The preparation of financial slalements in compliance with the Charities SORP (FRS102) requires the use of certain critical accounting estimales. It also requlres managemenl lo exercisejudgement in applying the charty's accounting policies. Global Fellowship of Confesslng Anglicans constitutes a public benefit entity as defined by the Charities SORP. 1.2 Company sta8 The charitable company is a company limited by guarantee. There can be no less than three and no more than six members. The membership of the company is available lo all applicants which are approved by the Primates Council of the Global Anglican Future Conference. There are 5 members at present. In the event of the charitable company being wound up, the liablllty in respect of the guarantee is limited 10 £1 per member of the charitable company. 1.3 Fund accounling General funds are unrestricled funds which are available for use at the discretion of the Tr4JStees in furtherance of the general objectives of the charitable company and which have not been designaled for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors orwhich have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are chaiged against the specific fund. The aim and use of each restFiCted fund is set out in the noles to the financial statements. PeTm8nent endowment fund8 are funds wherethe c8Pltal is maintained. The charitable company's pollcy on the use of the income is set out in nole 16. 1 A Income All incoming resources are included in the Statement of Financial Activities when the charitable company has entiilement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income is recognised in the SOFA when it is received unless there is a clear basls for defeNal. Income tax recoverable under gift aid on donations received is fecognised as income in the same pefiod as the underlying income lo which it relates. Page13
GLOBAL FELLOWSHIP OF CONFESSINGANGLICANS {A company limit by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting pollcles (contlnued) 1.5 Expenditure Expendlture is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation lo activities. Where Costs cannot be directly attributed to particular activities they have been allocated on a basis consistent wllh the use of the resources. Support costs are those costs incurred directly in support of expenditUTe on the objects of the charitable company and include overhead expendituie. These have been allocated as follows.. 2025 2024 Generating funds Charitable activities 20% 80% 20% 80% Governance costs are included within support costs. All resources expended are inclusive of irrecoverable VAT. 1.6 Golng Con¢om There are no material uncertainties concerning the char6table companls ability to continue as a going concem. 1.7 Tangible fixed assets and depreciati All assets costing more than £500 are capitalised. Tangible fixed assets are stated at cosl less depreciation. Depreciation is provided at rates calculated to wrile off the cost of fixed assels, less their estimated residual value, over their expected useful lives on the following b8ses- Computer & electronic equipment Fixtures & fittings 3 years straight linebasis 5 years straight line basis 1.8 Investments Investments for whlch the is a quoted markel value are valued at the bid-price ruling at the balance sheet date. Other investments are v8lved at their realisable market value. Cash deposils held with investment managers are included in investments on the Balance Sheet. Investment gains and losses arising during the year are included the Statement of Financial Activities. 1.9 Deb$ Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid net of any discounts due. 1.10 Cash * bank Cash at bank includes cash and short tenn highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 14
GLOBAL FELLOWSHIP OF CONFESSINGANGLICANS (Acompany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng pollcles {¢ontinuod) 1.11 Liabililies and provlsions Liabilities are recognised when there is an obligallon al the balance sheet date as a result of a past event it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimaled reliably. Liabilities are recognised at the amount that the charilable company anticipates it will pay to settle the debL 1.12 Foreign currencies Monetary assels and liabililies denominated in foreign currencies are Iranslated into sleiling at rates of exchange ruling at the balance sheet date. Transactions in fofeign currencies are translated irrto slerling on the day the Iransaction took place. Exchange gains and losses are recognlsed in the statement of financial activities. Due to the effect of currency fluctuations on large USD bank balances in our Endowment Fund, exchange gains and losses pertaining to those balances are allocated to the Endowment Fund in the statement of financial activities. 1.13 Financlal Instruments The charity only has firsancial assets and financial liabllities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank108ns which are subseqL*ently measured at amortised cost using the effeclive interest method. 1.14 Pensions The chartty operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charrty to the fund in respect of the year. 1.15 Operaling leases Rentals under operating leases are charged to the statement of financial activities on a straight line basis ovef the lease term. Voluntsry Income Unrestr fund$ 202 Restr Endowmt funds funds 2025 2025 Totsl Unrestr Restr Endowml funds funds funds funds 2025 2024 2024 2024 Total fund5 2024 Donations- provinces, branches & churches Grants Donations from individuals 24.088 26,787 45.951 7,783 58.658 45.951 51,897 1.600 6,458 59,955 134.344 55.275 81,313 270.932 71.183 15.154 2,144.975 2.231312 158.432 128,013 89,091 375.541 123.080 16,754 2,151,433 2,291.267 Page 15
GLOBAL FELLOWSHIP OF CONFESSINGANGLICANS (A company Ilmhed by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Investment incorne Vnrestr Restr Endowmt funds funds funds 2025 2025 2025 Total Unrestr Restr funds funds funds 2025 2024 2024 Endowmt fvnds 2024 Total fijnds 2024 Dividends Income from fixed interest stocks Bank interest 11,611 11.611 3.023 4,382 8.698 11,721 5,080 9.809 347 1,256 1,417 7.405 347 2589 33,141 161 1.256 1,417 £%ndItur0 Anatysis Unrestr Restr Endowmt funds funds funds 2025 2025 2025 Totsl nds 2025 Unrestr Restr Endowmt funds funds funds 2024 2024 2024 Total funds 2024 Raising funds Charitable activities Exchange loss on endowment fund 36,707 1,102 252,452 121.088 9,929 47.738 48,117 39 373.540 330,261 24.707 1.069 49,225 354,968 133,T73 133,773 9.929 421,278 378,378 24,746 134.842 537.966 289,159 122,190 Analysls of resourees expended by expendlturetype Depre- clation 2025 Other costs 2025 Totsl 2025 Total 2024 2025 Raising funds Ch8rtt8ble Activities Exchange loss on endowment 26,081 108,376 21,657 264.893 47,738 373.540 49,225 354,968 133,773 271 134.457 271 286.550 421.278 537.966 Costs of generating voluntary sncome (8) Analysls of Resourees Expended Dlre¢t costs 2025 Support costs 2025 Total 2025 Total 2024 Fundraising costs 47738 49 225 Page 16
GLOBAL FELLOWSHIP OF CONFESSINGANGLICANS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Costs of generaling voluntaryincome (continued) (b) Dlrect costs of genorating voluntsry Income Permanenl unrestrict Rostrlcted Endowment funds funds funds 2025 2025 2025 Total funds Total funds 2025 2024 Office costs Publicity costs Consultancy costs Bank & oiher charges (52) (52) 451 1,554 4.434 2,869 2.914 1.102 418 Investmenl Management charges 9,511 9,511 2.862 1.102 9.929 13.893 4,874 Anatysis of resources expended byactlvltles (a) Analysls of Resources Expended Direct costs Support costs 2025 2025 Totsl 2025 Total 2024 Charitable actlvitles including conferences 238.157 73583 373.540 354,968 (b) Dlrect Charltable costs Unrestricted Restricted funds funds 2025 2025 Endowment Funds 2025 Total funds 2025 Total funds 2024 Staff costs Recruitment, trainlng Conference costs Venue Accommodation Travel Tr2llSPOrt Publicity Administration Travel & Subsistence Overnight Accommodation Venue costs Grants Publicity costs Office costs IT costs Consultancy costs Bank & other charges Depreciation 4.052 4.052 14,896 105 10,583 12.060 2.501 5.477 11,792 19,543 68,567 2.642 232 40 4.702 6,658 22,375 31,603 71,068 6.119 232 61 41.967 14,470 649 6.285 5.011 4,514 22,101 4,597 782 271 24,543 4,495 22,346 1,758 21 37.265 7.812 649 45.473 29,116 4,909 7,697 9,016 3.494 5,355 3.913 449 6,285 5.011 4.331 22.101 4.597 338 271 183 444 117.069 121,088 238,157 177,565 Page17
GLOBAL FELLOWSHIP OFCONFESSING ANGLICANS (Acompany limited by guaTantsè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Supportcosts Unrestricted funds 2025 Restrlcted fund$ 2025 Endowment funds 2025 Totsl funds 2025 Total funds 2024 Staff costs Recruitment & Training Travel & Subsisience Overnight accommodation Office costs IT cosls Legal & professional costs Bank & other chargeg Depreciation Exchange losses/(gains) 130,405 482 17.605 5.179 3.939 2,267 130.405 482 17.605 5.179 3.939 2,267 112.723 1,734 10.109 4,726 2,121 1,839 395 395 511 (474) (474) 80,264 Govwnanee Items Trustees Meeting expenses Trustee Travel Office costs Audit fee Other Legal & Professional fees 46 3,090 46 3.090 76 757 6,260 34 6,260 34 6,860 34 169,228 169,228 221,754 Alloc*iM: Cost of Generating funds Charitable Activities 33.845 135.383 33.845 135,383 44,351 177.403 169,228 169.228 221.754 Net hKomel(expenditure) This is stated after charging= 2025 2024 Depreclation of tangible fixed assets.. owned by thecharily Audttors, remuneration - audit fees Auditors, remuneration non-8udit fees 271 6,260 6,860 Durlng the year. no Trustees received any remuneration {2024- £NIL). Durlng the year. no Trustees received any benefils in kind12024- £NIL). Relmbuisemenl of expenses received by Trustees during Ihe current year totalled £1,29212024- £2.603). Page 18
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (Acompany limtted byguarantee) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 10. Staff costs were asfollows: 2025 2024 Wages and salaries Social securitycosts Pensions 125,736 111.429 8.721 16.189 134,457 127,618 The avefage monthly number of employees during the year was as follows= 2025 No. 2024 No. No employee recelved remuneration (exduding employerfs pension contributions) arnounting to more than £60.000 in either year. Remuneration of £67,904 in total was pald to key management personnel during the year12024- £64,601). Included in creditors at the year end is an amount of £513 (2024- £640) of outstanding pension contribLrtiorss due. 11. Tangible fixed assets Fixtures. Fittings & Equipment Cornper Equipment Totsl Cost At beginnlng of year Additions 6.648 1.085 6.648 1.085 Dlsposals At end of year Depreclatlon At beginning of year Depreciation Disposals At end of year 7.733 7,733 6.648 271 6.648 271 6.919 Net book value at year end 814 814 Net book value at beginning of year Page 19
GLOBAL FELLOWSHIP OF CONFESSINGANGLICANS (Acompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 12. Investménts Pemwnent Endowment Fund Unrèstricted Funds Restrlcted Funds Totsl Analysis of Movement Market Value at beginning of year Additions Dlsposals Gains/(losses) on investments At end of year Investments at mark value Equrties Fixed Interest Diversifiers Cash & Deposils At end of year Investments at Cost Equities Fixed Interest Diversifiers Cash & Deposlts At end of year 337,165 40.000 2,336,560 (129,851) 156,626 2.363,335 2.713.725 {129.851) 156,693 2.740.567 67 337.232 40.000 1.850,514 379.743 115.511 17,567 2363.335 1.850.514 716.975 115.511 57,567 2.740.567 337.232 40.000 40,000 337,232 1.714,003 378.852 95,687 17.567 2,206,709 1.714.603 716.017 95.687 57.567 2.583.874 337.165 40,000 40,000 337.165 13. Debtors 2025 2024 Other debtors Piepayments and accrued income 324 41,095 17,660 17.660 41,419 14. Creditors: Amounts falllny due within oneyear 2025 2024 Credtlors Accruals and deferred income Other Taxation and Social Security costs 12,538 21,472 653 21.501 6.628 2,143 34.003 30.272 Page 20
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (Acompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 15. ststement of funds Brought Forward Incoming Resources Resourets Expended Investmnt gains CaThied Forward Permanent Endowment fund$ The Gafcon Endowment Fund 2.075.509 148.097 (9.929) 144,749 2,358.426 Restrleted fund$ Bishops Training InstitLrte Fund Bishop Lirses Fund G25 Scholarship Fund Video Productlon Fund Suffering Church Nelwork Fund Sustainable Development Network Lawyers Task Force Women in Ministry Network Global Mission Partnershlps Network General Network Fund General Secretary Tr8vel Fund Conference Organiser Fund Kigali Buisary Fund GAFCON IV Bursary Fund G26 Abuja Bursaries Fund Other Funds 50,650 6,300 68.851 (50.650) {6,300) (65.201) 3,650 6.998 4.275 349 153 949 120 49 6,998 4.275 349 153 949 120 49 356 53.399 356 53.740 2.173 347 2.212 (39) 66,652 128.360 {122.190) 72.822 Unrestricted funds Designated GAFCON V 2028 reserve General 446.602 205,916 6.549 177,187 (289.159) 67 453.218 93.944 Total Unreslricted Funds 652,518 183,736 (289,159) 67 547.162 Total funds 2,794,679 460,193 (421,278) 144,816 2,978.410 Supporting information in respect of each fund is given as follows: Gafcon Endowment fund.. On 20 April 2023. at the GAFCON IV conference in Kigali, Gafcon announced its inlenlion lo launch an endowment fund with Ihe intention of raising US$1 Omillion, in order to fund the work of the Gafcon movement into the future. This was constituted in February 2024. G25 Scholarshlp Fund.. This fund was to provide scholarships (or bursaries) for delegates from poorer countries to enable them to attend our 2025 Bishops conference in Plano. Texas. in March 2025. Page21
GLOBAL FELLOWSHIP OF cONS4NG ANGLICANS (Acompany limit byguarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Statement of funds {continued) Re inued G26 Abuja 8ursaTies Fund.. Thi8 fund is to provide bursaries for delegates from poorer countries to enable Ihem to attend our Bishops conference in Abuja, Nigeri8. in March 2026. Bishops, Training In$titirte (BTI) Fund.. to pay for Bishops. Training conferences. Bishop Lines Fund-. originally thig was to fund the office ar¢d expenses of the newly appointed Mlssionary Blshop to Europe, and his work in the UK and Europe. This work is now carried out by the Anglican Network in Erope, but some donatlons for ihis work are still received by us. VideoProduction Fund.. to produce a video of the church in the Anglican Provlnce of the Congo.. illness (Ebola and Covid-19) and violence have prevented this to dale. The Sustsin•ble Development Network the Suff•rlng Church Nelwork, the L•wyers Task Force, the Wom in Ministry Network and the Global Mission Partnerships Neork funds are to fund the work of those individual Netwofks. Kig811 Bursary Fund This fund was to provlde bLtrsaries for delegates from poorer countries to enable them to attend our 2020 Bishops conference in Kigali. which never happened due to Covid-19. Some donors agreed to have these funds transferred to the GAFCON IV Bursary Fund GAFCON IVBursary Fund.. to provide bursarles for delegates from poorer countries to enable them to attend our GAFCON IV conference in Kigali in April 2023.. the fund was not completely used and so funds will be retained in order to fund bursaries at the GAFCON V conference in 2028. The GAFCON V 2028 Reserve Fund has been established as a designated fund to fund the early expenses of future conferences, specifically the 5-yearly GAFCON V confefence in 2028. The inlended reserve figure is £500.000. made up of this reserve and the remaining balance of the GAFCON IV Bursary Fund. Summary of funds Brought Incoming Re$ource8 Investment Fopward Resovr¢05 Expended Gains Carrled Forward Year ended 30 Swember 2025: Unrestricted funds Restried funds Permanent Endowment Funds 652.518 66.652 2.075.509 183,736 (289,159) 128,360 (122,190> 148.097 (9.929) 144,749 67 547,162 72.822 2.358,426 2 794 679 460 193 421278 144.816 2978410 Page 22
GLOBAL FELLOWSHIP OFCONFESSING ANGLICANS (Acompany limited by guaranlfje) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 15. Slatemènt of funds (ciwrtinuod) Brought Forward InmIng Resour¢es Transfers of Resources Expènded funds Carri Forward Comparative Figuros: Year ended 30 September 2024.. Permanent Endowment funds The Gafcon Endowment Fund 1151689 (134.842) 57.662 1075.509 RestrlctedFunds Gafcon future endowment fund Bishops Training Institute Fund Bishop Lines Fund Video Pioduction Fund Suffering Church Nelwork Fund Sustainable Development Network Fund Lawyers Task Force Women in Ministry Network Global Mission Partnershlps Network General Network Fund General Secretary Travel Fund Conference Organiser Fund Kigali Bursary Fund GAFCON IV Bursary Fund Othef Funds 57,662 2,314 13 6.998 4.275 252 153 910 120 49 5,801 (57,662) 8,783 (11.097) 7,713 17.726) 6,998 4.275 349 153 949 120 49 ioo (3) 40 (i) 118 11181 15.8011 356 53,399 356 53.399 132,306 16,754 (24,746) (57,662) 66,652 Unrestricted funds Designated GAFCON V 2028 reserve General 446.602 446,602 205916 123,289 378.378 Total of funds 1,039,913 1292,732 (537,966) 2,794.679 16. Permanent Endowment Fund During 2024 the Charity established a permanent endowment fund. The alm is lo reach US$10million to produce sustalnable funding for Ihe Charity into the future. The fund will accumulate income until the value of the fund (combined with the Designated GAFCON V 2028 reserve and GAFCON IV Bursary Fund) reaches US$4million. After that. Y3 of income will be accumulated and ⅔ of income treated as unrestricted income. Therefore for the yeaf ended 30 September 2025 the fund is accounted for on a total return basis. The Fund is governed by an Oversight Committee, wlth an Investment Committee to advise on investment strategy. The Investment Committee appoinled Rathbones Investment Managernent to manage investments on behalf of the fund. and funds were transferred to them in March 2025. Prior to that the funds were held in bank accounts in both US dollars and pounds slerling. Due lo exchange rate fluctuations the fund made an exchange galn of £33.612 in the year (2024- £133.773 loss) prior lo investment. Page 23
GLOBAL FELLOWSHIP OF CONFESSING ANGLICANS (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 16. Permanent Endowment Fund (contlnued) Unapplied Tolal Retum 2025 Trnst for Investment 2025 Totsl 2025 Total 2024 At beginning of ihe year: 2,209,095 {133.586) 2.075.509 Movements in the year Transferred from restricted fund in the year Gifts of endowment funds Investment return.. Dividends & Interest Investment return.. Exchange gain/llos5) Charges on gifts received, and investment management Investment gains/(losses) 57.662 2.151,433 1,256 (133.T13) 89.096 89,096 25.389 33.612 25.389 33,612 (9,929) (9.929) 144,749 11.069) 144,749 Nel movements in the year Ai the end of the year. Gift componenl of the permanent endowment Unapplied total relum Total 233.845 49,072 282,917 1075,509 2.442,940 2.442.940 2.209.095 133 586 2.442,940 (84,514) 2358.426 2.075.509 17. Anatysis of nel assets between funds Ut)re8tricted Restricted Endowment funds funds funds 2025 2025 2025 Totsl Funds 2025 Total Funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 814 337.232 238.870 (29.754) 814 40.000 263.335 2,740,567 32.822 271.692 (4.909) (34.663) 2,824,951 130,2721 547.162 72,822 2,358,426 2.978.410 2,794,679 Page 24
GLOBALFELLOWSHIP OFCONFESSING ANGLICANS (A company Ilmiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 18. Reconciliation of not Income lo net Cash flow ftom operatlng a¢liYltlo8 Unfestrlcted Restrl¢ted Endowment funds lund8 Fund 2025 2025 2025 Totsl fund$ 2025 Total Funds 2024 Net income for the year (as per the St8lemenl of Financial Activtties) Depreciation Investment income Loss on disposal of investrnents Changes in Debtors Changes in Creditors (105.423) 6,170 126.291 27.038 1.754,766 271 (7,405) 271 (25.389) (33.141) (347) 11,877 11.8TI 23.759 4.391 23.759 {518) {37.788) (4.297) 4.909 (89.316) 5,823 117.688 34.195 1.712.681 19. Analysls of Cash and Cash Equival•nts Unrestricted Restrlcted funds funds 2025 2025 Endowment Fund 2025 Tolal funds 2025 Total Funds 2024 Cash at bank and in hand 221,210 32.822 254.032 2.783,532 20. Relat party tran88ction8 Related parties include the cha¥ity twstees. close relatives and key management personnel, and bodies of which they are directors. Don8tions received in the year from Trustees and key management personnel tolalled £38,38812024- £18.803). There were no confeieg)ce fees received in ihe year (2024: £Nil}. Total payments to provinces, dioceses and churches of which Trustees are senior officlals are as follows.. £Nil to Eglise Anglicane du Rwanda, of which province Most Revd Dr Laurent Mbanda is Archbishop, (2024.. £51,777 to relmburse Bishops Training Institule expenditure). £3,461 (2024= £472) to Christ Church CaihedTal Plano. of which Rt Revd Paul Donison is Dean, to reimburse costs of publicity materials and air fares. The non-dependent daughter of one of the Trustees, engaged as a consultant in previous years on an arms-length basis, was re-engaged on a voluntary basis in May 2024. No remuneralion was paid to her in the year12024- £Nil). Expenses of £1,12512024'. £1,648) were reimbursed to her. 21. Operating lea$e commitments There were no non-cancellable operating leases as at 30 Seplember 2025 {2024- Nil). There were no lease/licence payments in the year12024- £Nil). Page 25