Company registration nutnber.. 07559179 Charity registration nurnber.. 1144658 Xtend Global (A company limited by guarantee) A1U81 Report 8J)d Financial Statements for th¢ Y¢ar Ended 31 December 2024 HODSON & CO Wiston House I Wislon Avenue Worthing West Sussex BN147QL
XteDd Global Contents Reference and Administrativ¢ D¢tails Trustees, Rcport 2to5 Statement of Trnstees, Responsibilities Independent Auditors, Report 7t09 Staternent of Financial Activities Ba]ance Shcct 12 Stalernent ofcash Flows 13 Notes lo th¢ Financial Siatcmcnls I425
XteDd Global Reference and Administrative Dctsils Trustees M G Billage R Lowery C Kcung A Yohn H Wolmarans P D Sharp J L Rowlands W A Jones Se¢retiry N R Leduc CbArity Registration Number 1144658 copanY Registration Nllmr 07559179 The charity is incorporaled in Lngland and W#le$. Rfgis¢ered Office 51.63 Si Dunslans Road Worthing Wcst Susscx BN13 IAA Auditor HODSON & CO Wiston House I Wislon Avenue Worthing West Sussex BN147QL Page I
XteDd Global Trustees, Report Thc tnjstccs, who are directors for the purposes of company law* present thc annual rcport togcthcr with the fjnancial Statements and auditors, rert of the charitablc company for the year ended 31 December 2024. Trn$tees and officers The trte¢S and otyicers serving during the year and since thc ycar end were &8 follows.. Trustees: MG Billage W A Jones C K¢ung lappointcd I l May 2024) J E Rowland5 P D Sharp H Wolmarans A Yohn R Lowery (appointed l January 2025) Secretary: N R Lcduc Structure? governance and mgDagement Nathré ofgovermlftg docmmenl -The company's a¢tivitiC5 are regulated by the Articles of Association, adopted at incorpDration on 10 Marih 2011 and modifi¢d in April 2015 and April 2018. The objccts ot thc company arc: a) 'fo advancc lh¢ Christian faith IOng Ihuse with Ihc least opportunity to be supported locally by the Christian iommunity, particularly through usc ofclectronic media and other remote or peripatetic mean8, in accordance with thL Ststemenl of Faith from limc to lime adopted by Pioneers Intemational. b) 'fo advance chrisli1 cducation and training of those with the least oppomnity lo receivc such education and trainin8 Ihrou8h a local Chrislian community. c) To relieve hardship sickness or poverty among those peoples with th¢ leasi opportunity lo bo supportcd by a local Christian community. d) To promote the ¢ICienCY and effectiveness of charities and their workers by the provision ot 8ecwe inforn)ation Icchnology serviccs to such charities Recrui1me( andappoinlmenl ofiruslees The above-named have served throughout th¢ period, except whew oih¢rwi$¢ st81¢d, Thc directory of the company are also the trust¢¢s for th¢ charitable activities of Xtend Global. Induclion and training 0ftr¥¢ttS New Dwectors {I"ruslees) may bc appoinlcd during thc ycar by thc Board of Truslccs. Each Truste)irector is appoinied for a period of four years and tnay bc reappointcd tor a turthcr four-ycllr tcrm, after which litne helshe is required to stand down lor al least one ycar before reappointment. In exceptional circuingtances, the board may re-clcct a trustce for more than two lern)s. The Direclors (Trustees) are the only m¢mb¢rs of the charitabl¢ company. Induclion and training of Directors is und¢rtaken by the distribution and explanation OF Ihe Lornp¢)ny's fOLdatIOnal docum¢nts (Articles uf Assoiiation) and Charity Commission and CompaDiCS House guidance (e.g. CC3 - The Essential Trustee.. What you need to know). Arrangemenf.ffor.rétting key manazemenlpersonnel remuneralion In 2024, the B0d of Dircctors (Trustees) togtiher with the Exccutive Director of Xtend GlobaI comprised the key management personnel of the charity in chargc of dirc¢ting and controlling, running and operating th¢ charity on a day to day basis. No trustees are paid and detsils of tru5tees' expenseb are showi in note 12 to the accounts. In line with the policy of Pioneers International most of the staff within Xtend Global, are expected to raise the total cost of their employmcnl through individual fundraising efforts in partnership with another Gharity within the Pioneers International movemcnt. Organisational Struclure Xtend Global orErates as part of the worldwide mission movement known as Pioneers International. relatin8 as one part of its Middle East region. The Pionccr5 Rcgional Icadcr for th¥ Middlc East rcgion is a mcrnbcr of thc Board of Xt¢nd Global. Page 2
Xtend Glob21 Trustees, Report With input from the Board of Directors (Trugtces). thc Regional Leader appoints and appraises the Excculive Director of Xtcnd Global. The Executive Director ofxicnd Global overs¢es the adminislralion of the CoMp<Y as a whole. -rhe Lxecutive Director of Xtend Global appoints and appraises his own team of operational directors, in consultation with Ihe Board. Objectiyes and activities Objects and ainL The registered objects of the company are ststed above under Govcming Instrument. The rnain tiVitieS of the company have been to comtnunicate th¢ Christian taiih through media and thc training ot church leaders. Public benefIl AdVanCg thc Christian Faith.. To advan¢¢ Ihc Christian faith throughout the Arab world and els¢where, the charity has continued to work coopcratively with Pioneers Intemational (globally) and with the Church aeross th¢ Middle East aJ)d North Africa rcgions and elsewhere. The Church across Ihe Arab world and in uthcr area5 has been encourag¢d in its witness and service of the wider community. sustained and supportcd d¢spil¢ facing mistrust, inloler4mce. and pcrgecution in many conlexls. Believers in rural areas or closed homes have been sustained in thcir faith through online discipleship and where possible, linked with othcr bclicvers for encouragement. Though many are Isol¢d or facing other challenges, the Body is heartened with boldness to serve and wisdom to witne$8. Utilising the inlemel. Media communiliilions hayc expressed a posiliv¢ understanding of the Christian faith and respect for other beliefs in a setting where misconceptions and 8uspicions ovenvhelm, Increased spending on advLrtising has been succe55ful in Icading to more online enga8emenls wilh "qualified" contacts. Adding n¢w innovative tneans of outreach (c.g. poelry cvcnts) has proven ¢ffe¢tivc. The Mcdia to Movemen18 team continues to tratn and cquip a growing numbcr of ficld learns in multiple localion5 around tho world in Ix)Ih pre- and post-launch of their social media initiatives lo communicate th¢ Gospcl. Advan¢in8 Cluistian education training.. 'Thc charity has devLloped and promoted the use of a phone and web app which has been WLII rLceived by stud¢nts b¢ing trained. The ereation and distribution of animatinns of tcstimonies ot fornicr and current students has also been well received and these recordings are being dubbLd into multiple language.8. Expanduig I,earning oppornitieS for Oral Communieator8'. Addilionally, thl expanded reach of ourorality materials dnd training events have increascd a¢¢cs5 to Christian teaching and trainin& including Mryitten sourccs, and also helped empower oral communicators ti]rough successful leamin8 expericn¢¢s. The trteeS confirn)ed that they have mplied with the requirements of section 17 of the Charilie8 Act 2011 lo have due rcgard lo the public benefit guidance published by the Ch¢)rily Commission for England and Wales. Thc trustees have had regard to the Charity Commission's guidance, tncluding that on'charities WoTkinE Inlernalionally" Ihe genera] public benefit guidanc¢"Chariti¢S and Public B¥nefit", and the supplementary guidance contain¢d in "The Advancemenl of Religion for the Public Benefit" Achievements Alld performance In 2024, Arab World Media's onlinc and social ministry sustained its reach and effectiveness in most arcas. More than 1.2 million peoplc in the Arab world W¢ ¢xpowd to biblical truth through our multiple socia] mcdia platfomis and 33.356 individuals were in active contact with one or other ofour responders. The Bible was downloaded 11,268 timcs and 402 individuals started studying th¢ Bible with one or more other people. M¢dia to Movements wntinues lo develop new partnerships with indigcnous-led nctworks of like-minded people who are using media for Church planting. Since 2020. more than 75 field teams have been coached in media Strategies for church planting. By the end of 2024, 85 grL)ups of new believers were bein8 trained by PALM. either in*erson or online. Page 3
XteDd Global Trustees, Report Financial review The company received a total incom¢ of £2.781.476 (2023: £2.683.399) with a total exp¢nditure of £2,853,182 (2023: £2,920,917)- Unre8trictcd (Gcneral) Funds decreased from £301.616 to £268,658 aftcr tratE5fcr of a £75,000 grant lo the r¢stri¢led funds for Arab World Media and Media to MovemenÉs'. t)esignaled Fwids decreased from £2,478,946 to £2,409,225 after a gain on investments of £74,380. and net op¢rational expendire of £144.101 including depreciation cost of £58,147. Total Restricted Funds, which include the great majority of thc charity's incon]c and expenditure, incre&8ed frotn £504.334 to a year-end position of £627.054, aftcr receipt ot-the £75,000 grants from the Unrcstrict¢d (General) Fund to the Arab Wvrld Media and Media to Movements Funds, and an cxchaThge gain of £30,990 on an EGP liabilily of the Arab World Media Expenditure has been allocated to the appropriate heading by refErcnce to intenwl guidellnes of the company and on a re&qonable and colstent b&ts"is, Reservespolicy, po,iilion andprospecrs The trustees hayc cstablished a prudent Reserves policy. focus¢d on liquidity lo ensure the steady continuity and devclopment of opcratiorks. l. operational area (A WM, PALM, MTM Reslri¢ied Funds) will hold a ycar-cnd reserve in its Core Fund. sufficienl 10 me¢t that operation's need nf liquidity tu cover any foreLasl ncgative cash flow through the corning y¢ar. 2. Thc XG G¢nerd fund will maintain a ycar-end balan¢e of a minimum of1.5 month8, expenditure of th¢ overall expendilure budget Inel ot"advancL funding received fundraising fees and re5tricl¢d funds, project expcnditure which 15 depend¢nt on sp¢cifiG funding being rcccivcd). This is lo cover th¢ unGcrtainty of donation income and back up any of the Rcstricted Fund Core Fund balances which do not have a sufficienl liquidity reserve. Al th¢ y¢ar-end, the charity held GcnLYal Fund reseryes of £268,658. which is 1.7 months of 2025 budg¢lcd cxpcnditwe (adjuqte4 as above). This is a little above the policy tsrg¢bl lo hold a minimum of1.5 months. It is expeLlcd that these Qeneral Fund reserves will 5tsy steady in 2025, duc io thL carehjl calculation ofopcralional co.sts to reallocalc lo restricted lunds. and ihe expectation that there will not be a riquircment lo grant fijnding to any of the operational nds. Substantial attention continues to be given, and ffort made, lo m&tLh the tundraising for Media to Movemcnts closcly lo its operulional budget, including all shared operationa] usts. PIAns for fuMre perlodg AinL¥ and key objeclivesforfviureperlods In 2025, wc will cngagc in a Strate of eater filtering of those who engage with us IFLrough SL)Lial media contact lo r¢lo&sL our response team to spLnd rnore quality lime with ihc most 5eriou8 seekers. We will cr¢ale morL Tjarrowly Focused conl¢nt lo attract attcnlion from least-r¢ached pcoplc groups through the crLalion ot spccifLC personag for which lo produce content. In order lo increase our eapacily lo coach field team5 on ihc use ola social media strategy &$ a tool for church planting, the Media lo Movements ieam will crcalc online training modul¢s to SPLed up the coaching pro¢¢ss and makc overall training more broadly available. The PALM learn will make discipleship training content more widely available by translating course content inlo more lan8ua8e$ whether for on]ine or in-pcrson Irdining and will do the same for orality trainers. Goiug CDncerD The charity has reviewed its fmancial performance and general reserves position. The charity has adequat¢ financial resources and is able lo rnanage its busine risks. The charity's planning process has lak¢n into consideration Ihe Currenl ewnomic climate and ils potential impact on thc vario4 50urce% of income and planned expendittjre. Taking into account all factors, the charity has reasonable expectation that it has adequate resources to continue in operational existenc¢ tOT the loreseeable fvture and believes that there are no material un¢ertainties Ihal call into queslion the charity's ability to continue in operation. Risk management The truslecs have considered the major risks to which the charitable company is cxposed and systems or prO4ur¢S have been Cstablished to manage those risks. Page 4
Xtend Global Trvstees, Report DisLlosure of in(ormatioD to auditor EaLh iiusleL. has lakeii steps that thcy ought tu have lakeri as a Irustee in order tu make thLniselves aivic rc of any rLILvant audil infurn]alion and to establish that the charity's auditor is aivare of that infornialion. Thc trustees confirm that thcre is no rel¢vJnt infomi<ltion that thev know of and of i1Ch Ihev knoii. the aiiditor is iinaiv<ire. Sn)all conipanies provision statement This report has bccn prcpared in accordance ivith Ihe small companies regime under the Compaiiies Act ?006. The annual report ivas approved by the trust¢¢s of the charity on l O May 20?5 and signed on lis behalf by.. I Cy Bill:i&pc
Xtelld Global
Statement of Trustees, Responsibilities
The trustees {ii'ho are also thc directors of Xtend Global tor the piirposes of compuny lJii') are responsible for
prepanng the tLUSteeg' report and Ihc financial sttttements in accordance with applicable laii, and Unilcd Kingdom
Accounling Standards (Uiiiled Kingdom Crenerall). Accepied Accountin Practice), tncluding FRS 102 "The
FinanLial ReporLinu Siandard appliLable in the UK dnd Republic of Ireland"
Conipdliy laiy requirLS (he trusiees to pr6pare finanLI(tl slatements for eaLI) findtiLial year. Under company Idw Ihe
(rlliliii Illust i)ut approie ilikn fii)dllLidl stdfknlllLI)ti Ili¥y dl'u bdlisfila tlial rliLy ¥lV¢ J Ii'ub dnd fd. ir N iew of
the state of affair5 of ihe charilablL Company and of the incoming resources and application of resources, including
ils income and cxpcnditure. of the charitable company for that period. In preparing thes¢ financial statements, the
trustees ffjir¢ required lo..
select .svildble aLcounling p)licies and apply them consislenily;
obscrvL tlie Tneihods and principles in the Cliai'itlLS SORP,.
make jud¥Lmenls and estimaies that are redsonable and prudent.
slale whcther appliLable aLcoun(in<v .qtandards, comprising fR.S 102 have been lolloivbd, subj¢¢i io any
niaterial dcparturci di.4Llused and explain¥d the finari¢i41 SleMen[s. dnd
pr¢parL Ihc financial siaiem¥nts on ihc guinby ivnccm basis unless il is in&ppropri&ile to prlsiimc thai the
ch¢1rilable conipanv will conlinuc in busincss.
The Iru%lecs arc responsiblc for Lceping propcr accounting reLords that can disclvse 'Ith re(isonable uccuracy dl
any limc thc finiTrllLiiil po%iliun ol- IhL charitable Lonipaiiy aiid ¥l)Jbl¢' Iheiii lu cn%urL ihat ihL fiiiJnLithl slalcmLI)ts
Lomply with thL C.Iiinpdnics A¢1 200c). l-h¥y arL also r¢sp(111.4iblu for .S<ifegyu<irdii)gy ilie i14SLls ()r thc Lliarilable
Ll)nipany an(1 hinLL' l()r 14ikingF r¥
Xtend Global Independent Auditor's Report to the Members of Xtend Global Opinio We havc audited the financial stalcments of Xtcnd Global (the 'charity') for the year ¢nded 31 D¥cember 2024, which comprise the Siatetnent of Financial Activities, Ralance Shect. Statement o1.ch Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reFK)r1ing framework that has be¢n applied in their preparation is lJnikd Kingdom AcLounting Standards. comprising Charities SORP FRS 102 The Financial Rcporling Standard applicable in thc UK and Republic of Ireland, and applicable law (United Kingdom Gcnerally Accepted Accounting Practice). In our opinion the finoncial statements: give a true and fair view of th¢ state of the charity's affairs as al 31 Decernbcr 2024 and of its incoming resourccs and application of resour¢es, includ>n8 ils income and expcnditUTC, for the year then ended. hav¢ been properly prepared in accordan¢¢ with Unitcd Kingdom Gencrally A¢c¢pled Accounting Praclicc. havc becn prepared in accordance with thc rcquirem¢nt$ of the Compani¢s 2006. Basis for opinioll We ¢onduLled our èudit in accordunc¢ with International Standards on Audiling (IIK) (TSAS (IJK)) and applicable law. Our responsibililics under those standardq are fijriher described in Ihc auditor rcspon8ibilitiLS for th¢ audil of thc financial slatemcnt5 section of our report, We are indcpcndent ol. the charity in accordance wilh the Lihical rcquiretnents that are rLlevant to our audil ot. Iho linancial statements in the UK, including th¢ l.-RC's LthiLal Standard. and we have lfIlled our other clhi¢al responsibilities in accordance with thcse requircmenls. We bLlieve Ihal Ihe audit evidenc¥ we havL obtainLd is 5uifici¢nt and appropriate lo provide a b85is for our opinion. CoD¢lusion$ r•lating to going concern In auditing the t-Irianii81 italemenls. we have concludLd thul thL tn]slecs use ofthe going concem b&%is of acwunling in the prcparaiion of the financial statements 15 appTopriate. Boscd on the wvrk we have pcrlorniel wc haye not idlntified any mal¢rial uncertainties relating lo events or conditions that, individually or collectively J may cast signifiG8ni doubt on the charity's ability to Lontinue as a going concern for J period of al le41 Iwelve months from when the original financial statemcnts were authoriscd for ibsue. Our responsibilities and the responsibilitics of the trustees with respect to going concern are described in the relevanl s¢Gtions of this reporL Otber Inffjrnigtloll The trustc¢s are re5ponsibl¢ for the other inforniation. The other iThformation £ompri5e5 the information included in the annual report, other tlun Ihc fmancial slatements and our auditor's report thereon. OUT opinion on the financial statemcnts doe5 not coycr the other information and. except to the extent otherwise explicitly stated in our report. wc do not express any fom) of &ssurancc conclusion thercon. In ¢onnection with our audit oFthe finan¢ial stalctncnts. our responsibility is lo read thc other inforniation and, in doing so, consider whether the other infonnation is materially inconsistent with the fan(la1 statements or our knowlcdge obtained in thc audit or othen¥ise appeS lo be materially misststed. If we identify such material InnsISten¢1cS or apparent material misstalemenls. we are required to determine whcthcr th¢r¢ 15 a material misstatement in the financial statemenls or a matcrial misstatement of the other information. If, based on the work we have pcrfornied, we conclude ihat there ig a material misstatefflenl olthis other infgrniation, w¢ are rcquired to report that fact. We havc nothing to report in this regard. Pase 7
XteDd Global Independent Auditor's Report to the Members of Xtend Global Opinion on other matter preseribed by the Comp*Dies Act 2006 In our opinion, based on th¢ work und¢rtaken ID Ihc course olthe audit.. Ihv infomiation givcn in the Trustees, Report for the t-UWLcial year for which thc financial E4ternCnts are prepared is consistent with the financial siatements; and the Trustees, Report has been prcpared in accordance with applicable legal requir¢menls. Matters OTh which we Ire reqlllred io report by eiception In thc light of our knowlodge and understanding of the charily and its enviTonmenl obtained in the course of th¢ audit. w¢ haye not identified Jnaterial misstatements in the Trustees, Report. We have nothing to report in respect of the following maltcrs wh¢r¢ the Companies 2006 requires US to repvrt to you if, in aur opinion.. adcquate accounting rc¢ord8 have not bcen kcpl, or returns adequate for our audit havc not been rcceived from brI¢he8 not visited by us., or the financial stal¥ments arc not in agr¥¢ment with the coUntIng rccords and T¢turns; or ccrtain disclosures of (rtee3 remuneration specified by law arc not made,, or we have not rLccivcd all th¢ information and ¢xplanations we rcquire for our audiL RespoDsibiliti¢s of trustevJ A.% explained morc llY in the StatemLnl of Trustees, Responsibilities (set uui on p(agc 6}, the Irustee% arc responsible for the preparation of the financial stalLment5 and tor being galislied that they give a IruL' and lair vicw, and for su¥h intcrnal ntrol as the truslecs d¢teminc is necessary to enable Ihc preparation of fin1ClaI stalemcnts that arc free from material misslatemcnl, whether duc to fraud or effor. tn preparing the financial sLqlemLnts, the trustees ar¥ responsible for assessing the ¢harily's ability lo continue &8 a going concern, disclosing, as applicable. matt¢rs relaid to going conknern and using thL going concLm basis of acc(Trunling unless the Intslces ciiher intbnd io liquidate the charity or lo Cease vperalions, or have no realistic atternalive but lo do so. Auditor responsibilities for the audit of the fiDancial st8temeDts Our objectives arc to obtain reasonablc assuranLL about whether the financial 5talemenls &s a wholc are free from material misstalemenL whether due lo fraud or Lrror. dnd to issue an audilor's rcport thal includ¢$ our opinion. Re&80nable k)ssurance is a high level of assurance, bul is not a guaranlce thal an audit conducted in accordance with ISA5 (UK) will always delect a material misstatement when it ixists. Mis8lat¢mcnts can arise from fraud or error and are consid¢r¢d material if, individually or in the aggregate, they could reasonably be ¢xp¢Lled tg influen¢¢ the economic d¢Gisions of users taken on the b1& of thcse fmancial stal¢menls. Im'sarlI1Cs. includin¥ [rMI. we IrLanCe$ nonrfompliance 1th luw's and rc8ukniiuns. W¢ design wdures irj linc with our responsibilities to del¢ct material misstatements in respecl of irregularilics, including fraud. Thc exl#nt to which our pro¢edures arc capable ofdetecting irregularities, including fraud, is detailcd below. Obtaining an understanding of the legal and regulalory frameworks that the entity operates in, focusing on those laws and rcgulations that had a direct effect on the fmancial stalements- Enquiry of management to identify any instances of known or Sspected instances of fraud. Enquiry of management and thosg chargcd with governance around actual arLd potential litigation and claims,. Enquiry of management about any instkceS of non-compliance with laws and regulations,. Pag¢ 8
Xtend Global Independent Auditor's Report to the Members of Xtend Global Performing thudit work over the risk vl. mwemcnt override of conlruls Inc11]ng I¢siing uf joumthl entries and other adjustmcnts for appropriatencss. evaluating the busincss rationale of significant transaLlions outside the normal course of business and roviewing a¢countiDg esiimatos for bias. Reviewing minutes of meclings of those ¢harged with governance., and Revicwing financial statement disclosures and testing lo suptM)rting dDcum¢ntstion lo &sscss compliance with applicablc laws and regulations. OwiThg to the inherent limitation5 of an audit, there is an unavoidabl¢ risk that wc may not hayc delecled some material misstatements in th¢ tLnancial ststcments, even though we have properly planned perfornied our audit in accordance with auditing standards. In addition, as wilh any audit. there remaincd a higher risk of noTr-detection of fraud, these may involve collusion. fot8ery. InlentionJl omi5sion4 mi5rcpr¢J¢niilior15. or ihe override of inlemal controlL thr ll111 proc¢dures are designed to deteci material misslalemenl. We are not r¢sponsibl¢ for prev¢nting non-compliance or Iraud and cannot be expLclcd to delcLt noncompli8mce with all laws ld regulations. If a breach ol'operational rcgulatiuns is not disclosed to us or Lvidenl from rclcvanl correspondcnce, audit will not dLlecl Ihat breach. A furthvr dwripiion of our r¢spon$ibililics is avaitllblc on the Finoncial RcwrtiD8 Council's websilc ul: Trivw.frc.org.uklauditor8rcspon5ibilitics. -thi$ description forms part of our auditor's rcport. Use of tsur report This rcport is mudc soltly lo the ihorilAblc company's truslecs. 85 & Ix)dy. In Jccordance Chbpi¢r J of Part 16 of thL' Companies Act 2006. Our audit work h&% becn undLrtak¢n 8n that we might stale lo Ihe charily's IrusteLS those matters we are required to slate to them in an auditor's reporl and tor no uther purpose. To Ihe lIeSt Lxlenl P¥TmittLd by law, we do not accept or assume rLsponsibility io any¢Jne other than the charitsble company and its OW ¢iudit work, for this report, or for the opinions we have lonncd. Matthew Hodson (Senior Siatulory Auditor) bor and on behalf of HODSON & CO, Statutory Audilor Wiston House I Wislon Avenue Worthing West Susscx BNI4 7QL Page 9
XTEND GLOBAL Statement of Financial Activities (illcorporating an Income and Expenditure Account) for the period ended 31 st December 2024 2024 2023 Unrestricted D¢signatd fid9 Funds Restricted fi)nds Total Total Donations and legacies Other trading aLtivities InvLStrnent incomc Other income Total income 202,854 5,606 57,993 5,176 271,629 2,507.841 534 2,710.695 6,140 59,213 5,428 2,781,476 2,620,948 6,211 50,880 5.360 2,683,399 1,218 252 2.508.629 1.218 ExpeDditurt on: Raising funds Charitabl¢ aotivitics 16,534 187,430 233,718 2.278,943 250,252 2,602,930 217,924 2,702,993 136,557 Total cxpendilure 203.964 136,557 2,512,661 2,853,182 2,920,917 15 Nct gaind(losses) on investmcnts 74.380 74.380 152,084 Net Incomel(expenditure) 67,665 (60,959) (4,032) 2.674 (85,434) 20 TrAThsfers behvten funds Oth¢r recognised Gaiusl(Losses) OthLr (Jainslll,055uS) Net movement in funds (87,000) (8,762) 95,762 13 (13.623) (32,958) 30,990 122,720 17,367 20,041 441 (84,993) (69,721) Reconciliation of funds: TOTAL I.'UNDS broughi forward 301,616 2,478,946 504.334 3,284,896 3,369.889 20 TOT AL FUNDS Carried forward 268 658 2 409 225 627 054 3 304 937 3,284,896 The ststement of financial activities includes all gains and losses recognised in the ycar. All income and expenditure derive from continuing activities. The notes on pages 14 to 25 form part of these fanCIal statemcnts Page 10
XTEND GLOBAL Statement of Financial Activities (incorporating an Income and Expenditure Account) for the period ended 3 1st December 2024 Comparntive Year (2023) figllre$ 21J23 Unrestricted Designated tidS Funds Rcslrieted Total In¢ome: Donations and legacies Other trading activities Inveslment incomc Other incom¢ Total incom¢ 295,201 5.993 50,270 5,030 356.494 2,325,747 218 2,620.948 6,211 50,880 5,360 2,6113,399 610 330 2,326.295 610 Exptndlture on: Raising funds Charitablc activities 15,716 179,685 202.208 2,395,803 217,924 2,702,993 127,505 Total expenditure 195,401 127,505 2,598,011 2,920,917 15 Net gain51(lo$ses) on invcstmcnls 152.084 152,084 Net iDeomel(expenditure) l61,093 25,189 (271,716) (85,434) 20 TrADsfers behyten fullds Other recognised G8insl(Losse5) Other Gains1([sse.) Net movement ID fuDdg (314.000) 24,000 290,000 13 435 {152.472) 441 (84,993) 49,189 18.290 Reconf iliation of fuDds', TOTAL FtrNDS brought forward As previously stated Prior ycar adjustmenls As rcstaled 977.299 2.035,744 (523,211) 394,013 454.088 2,429,757 151,707 334,337 486,044 3,164,750 205,139 3,369,889 22 20 TOTAL FUNDS Garried fonyard 301,616 2,478 946 504 334 3 284 896 The statement of financial activities includes all gains and losses recognised in the yeaT. All income and expenditure derive from continuing activitics. The note5 on pages 14 to 25 forn) part of thesc financial sta¢¢ments Pagell
XTEND GLOBAL Blance Sheet As at 31st December 2024 Company number 7559179 31 sl Decembej. 20?4 31 bt December 2023 FIXED ASSETS. 14 Tangible fixed asset8 l i Ini,etmellI.s Total fiNed asset 389,976 1.791 jJL) 2 181 i'i 448,173 1717 169 2 16) 292 CURRENT ASSFTS I C) DebloL'S aiid prepai'Tnenl% 17 Cash lll bank" and in hand Toial CUiTent ais¢ts IOi,949 114C).064 12)2 013 1.1 >3.4(K', Liabilities 18 CREDITORS.. Amounts falling due ii'ilhin one Tr,¢. 1?8,601 148,947 NET CURRENT ASSETS I,1?.3.41? 1,119,C)04 TOTAL ASSETS LESS CURRENT LIABILITIES 3,304,937 3,284,896 Total net assets The tunds of the chajili,: UNRE. STRICTED FUND% G¢nei-Hl Fund Pl-op1. Rei'alualioii Fuiid Otlier Desigiiated Funds 19 19 268,6)8 178,913 2,230.312 301,616 178.913 2,300,031 19 ?,677,883 697,Oi4 ?,780,562 504,334 19 RE.STRICTED FUNDS Total Lharits: funds Theie fll]ancitd statements oil pase% 10 lo li Ivei'e appi-oved by the membei'% ot the board aiid 4uthoi'is¢d for isbue oil 10 Ma). 2025 and al-e siwed on theii. beliuw b!.; M.G. Billage Direccoi. The notes on pages 14 to ?) foiyn pait of these fancial statement% Page 12
XTEND GLOBAL Statement of Cash Flow for the period ending 31 st December 2024 2024 2023 Ndincom61(exyenditi4re)lor the reporting period (asper Ihe stawnent offinanciLTI activities) AdjuStMet3 for: Depreciation Rent income from investmcnt properly Investment income (Gains}Ilosscs on inv¢$tTnents Decrcase1{incr¢e) in debtors Incrc&sd(deerease) in creditors Net eash provided by/(usÉd lrt) oper¢Uing acdvlrf 20,041 (84,993) 58,147 (51.038) (8,175) (74.3 80) 9.202 20,346) {66,549) 59,763 {46,48D (4,393) (152,084) (51.978) 71,509 (208,663) Cash flows from investing activitl¢s: Interesl receivablc and similar income Reni income from investmcnl propety Purchase of invcstments 8.175 51.038 4,393 46,487 59.213 50.880 Cash flow$ from fiDAllciDg h¢livities: Changes In cask andequivalents In the reportingperiod (7,336) (157,783) Cash and equivalents al the beginning ot year ,153,400 ,311,183 Cash and cquivalents at the end of year 1,146,064 1 153.400 The notes on pages 14 10 25 forni Inteal part of these financial statements Page 13
Xtend Global Notes to the Financial Statements for the Year Ended 31 December 2024 I Charity statss Thc charity is limited by guarantee, incorEK>ralcd in F,ngland and Waies, and conlequently does not have share capital. Each of the truslees is liabl¢ to Gontribut¢ an amount not excc¢ding £1 towards the assets of the charity in the event of liquidation. I"he address ot.its regislered office is.. 5143 Si Dunst2ns Road Worthing Wcst Sussex BN13 IAA 2 Accounting polici¢$ Summary of significant a¢¢ountiDK polities and key accounting estimates Thc principal accounting policies appliLd in ihe preparation ot'these tinancial glatetnents arc set out below. Thcs¢ policies have been consist¢nily applied to all the years prcsl'nlcl unlLss othcrwise stalcd. Statement of compliance The financial statemLnls have been prepared in a¢Lordan with AOuntIng and R¢pr)rting by Charities: Stal¢rn¢nt of Recomnendcd PruLtiLC (applicable lo charili¢s prcparing their accounts in accordance with th¢ Financial Reporiing Standard applicable in the UK and Republic of ireland (FRS 102)) (issued in OLtober 2019) (Charitics SORP (FRS 102)), the Fintsncial RLporting Siandard applicable in the UK and R¢public of Ir¢'land (I.'RS 102) wid th¢ Companies Act 2006. Xtend Global meets the defitLition of a public benefit entity under FRS 102. Assets and liabilitics ar¢ iniiially recognised al historical c05t or transaction value unless othLrwise slalcd in the relevant accounting WTrliGy nolcs. Basis of prepqration The financial statcmcnts arc presented ift sterling (£). Going coDcerll The trustees considcr that there are no material unL¢rtaintie5 about the charity's ability to continue &8 a 80in8 oncern nor any significant areas of uncerl&inly that affect the carrying value of &s%ets held by the charity. The trustee5 haye a reasonablc cxpcctatton that the charity will continue in operational exi5t¢nce for the foreseeable future. Accordingly, Ihc aeeounts have been prepared on the b&si.s that the charity is a gning concern. Judgements The preparation of thc fmancial statements requires trusl¢es to make judEemwls. estirnates and &ssumptions that affect the amounts reported. These estimates and judgetnents are continually revicwed and are based on experience and other factors. including ¢xpectations of future cvcnts that arc bclieved to be reasonable under the ¢ircurn5tanccs. Income endoY4mtnts All income is recogniscd oncc thc charity h&8 entitlement to the income, il is probable that the income will b¢ rc¢civcd and the amount of the income r¢beivable can be measur¢d reliably. Page 14
Xtend Global Notes to the Financial Statements for the Year Ended 31 December 2024 Dnations ondlegacies Donations are recugnised when the charity hag been notified in wriiing of both the amount and settletnent date. In thc evrnt that a donation 18 subject lo conditions ihal require a level of perfomiance by the charity before Ihc charity is entiil¢d to th¢ tunds. th¢ income is defcrr¢d and not recognised until either those conditions are fijlly mel or the fullilm¢nt of thosc conditions is wholly within th¢ control ol the charity and it is probable that these conditions will bc lfillcd in the reporting pLriod. Donations raised and transmitted lo the charity by associated national offices arc slatcd gross of any fijndraising fee which is deducted by the national office before Iransmission. The donated scrviccs of 5tatf working lor th¢ charity but paid by a national offi¢¢ are recognised &s donation incomc (and chIlable cxpendilure) ai Ihe gross cos( of employment of thosc 5taft', Gr4ttls receivable Grants are Tecognised when thc Lharity h&8 cntiilement lo the funds and any condilion5 link¢d lo the grants have becn mcl. WherL perfonnanee condition8 are attached io the grant and arc yel to be mel. the income is recognised ()s a liability and inLluded on the balance sheel as deferred income lo be r¢l¢&sed. Investmeni Income Dividends are recognised once the dividend has bLen d¢clared and notification h&$ been reccivcd of lh¢ dividend duc. Expenditure All CXPLndilure is recognised once there is a legal or con5truclivL obligation to that expenditure, il is probtible 8¢iil¢rnent is requred and the amount can bc mcasured reliably. All cos15 are allocaied lo th¢ appli¢able expcndilure heading that aggregate similar costs to ihat category. l¥lJere ojsls cannot be directly ultribulLd to particular headings or nds, they have been ailocated on a basis cunsislunt with thc usc of resources, with Central staff costs alloLaled on Ihe basis of time spent. Other suppori costs are alloL¢iled bed on th¢ spread of staff cosls. Ruisingfunds These are costs incurrcd in attracting voluntary income. fees deducted by national 1£eS before Iransmi85ion of net donations to the charity, th¢ management ot investments and those incurrej in trading activities to raise funds. Ch4riid+lt ac¢ivilies Charitable cxpendilure comprises those cos15 incurred by the ¢harity in the delivery of its activitiC5 and 5crviccs for its b¢ncfi¢iarics. It includcs both c081s that can be 8]located directly lo such activitie5 and those c051S Ot. an indirect nature necessary lo support them. Gruntprovisions Provisions for grants are rnade when thc intcntion lo make a grant has been communicated to th¢ r¢cipienl but there is unc¢rtainty about ¢iihcr thc tin]ing ot the grant or the amount of grant payable. Support costs Support C051s include ¢¢ntral funrtions and have been allocated to activity cost calcgoriL% on a basis con.sistent with the use of resources, for example. allocating property costs by floor are&8. or per capit4 staff costs by the timc spcnt and otheT costs by their usage. Govern8Dce costs Thcse include the costs attributable lo the charily's ¢ompliance with c4)nstitutional and Statutory Tcquircments, including audiL accounts preparation, legal, strategic management and ttwstees. meetings and travel expenses. Page 15
XteDd Global Notes to the Financial Slalements for the Year EDded 31 December 2024 Taxation The charity is considered lo pa5S thc tests set out in Paragraph l schedule 6 ofthe FIn¢c¢ Act 201 O and therefore it meets the dcfiTution of a charitable company for UK corporation tsx PUTposes. Accordingly, the charity is potentially exempl from taxation in respect of inLomc ur capital gains received within categories covered by Chapter 3 Pyrt I l of the Corpordtion I'ax Aci 2010 or Section 256 of the 'l'axalion nf Chargcable Gains Act 1992. to th¢ extent that such incomc or gains aT¢ appli¢d ex¢lusiv¢ly lo ¢haritable purposcs. T8Dgible fu¢d Asstts Individual fixed assets costing £5,000 or more arc initially rr¢orded al cost, less any subsequenl accumulated deprcciation and sub$¢qu¢nl &¢umulated impairment losses. Depreciation and amorti$xtion Asset class Freehold Property Cotnpuler Equipment Equipment Furniture and RLnovations Depreciation method and rate 20/0 Straight line 33.331J/• Siraiiaht line 20 % Straight linc l OQ/o %traighi line FiJed asset investmtnts Fixed asset invcstments, other than pro8rumme related investmcnls, arc included al markel value al the balanc¢ sheet datL. Rcali8ed gain8 and lossLs on inV&stmt3 aK calculated &$ the dilyerencc b¢iwLcn salcs procLK.ds and their markel value al the start of the year. or their subsequent ¢osL and are charged or cr¢dilcd to the Sialem¥nl of Fin1ClaI Activities in the periud ot dispo.8al. UnrLalibed gains and lussvs r¥pr¢sent the movcmcnl in mke1 values during thc year and are credited or charged to the Statement OF I'"inancial Activities bascd on the market value at the year cnd. Trade debtors Trade debtors arc atnounls due from ¢u8lomer5 for merchandisc sold or servi¢cs perfomed in the ordinary Urse of busine.%s. Trade debtors are recognised initially al the Iran5a¢tion price. They are subscqucnily measured at amortised cost using Ihe err¥Ltive interest method, Icss provision for impairnient. A provision for thc impairmcnt of tradc dcbtors is C5tablished when there is objective evidence that the charity will nol b¢ able lo collecÈ all amaunls due according to the original temis of the re¢¢ivables. Cash #nd Cash equivalents Cash and cash equivalents comprise c&sh on hand attd call deposits, and oihcr 5hort.Icrrn highly liquid investments that ar¢ r¢adily convertible to a knuwn gmount of c&sh and are subject to an insigniFILant risk ul¥hange in value. Page 16
Xtend Global Notes to the Financial Statements for the Year Ended 31 December 2024 Borrowings Inlerest-bearing borrowings are initially recorded al fair value, net of transaction costs. Inlcrest-bearing borrowin&n% are sub.sequently carried at amortised cost. with thc dificr¢nce between the proceed.8, net of transaclion costs. and the amount due on redemption being recognised &$ a Lharge to Iho Statement of Financial ALiivilies over the period of the relevant borrowing. Interest expense is recognised on thc basi5 of the effective interest method and is iThcluded in interest payable and similar ¢harges. Borrowings are classified as currcnl liabiliiies Lml¢ss the charity has an unconditional Tight lo d¢fer setil¢m¢nt of the liability for at least twelve months after Ihe rep)rting date. Foreign excbange Transactions in torei8n Currencies are rccordcd at the rate of exchange at the dalc of the transaction. Monelary asscts and liabilities denominatcd in foreign ¢urrcn¢iLs al th¢ balance sheet dalc arc rcportcd al the rate5 or cxchange prevailing at that datc. Fund Structu UnresiriLILd income I'unds arc gcnerai tunds that availablc for use at the trustee5 disirL'lion in furtherance of the objectives of the charity. D¢signated funds are unr¢slrirt¢d lund$ sel aside for specific purpuses al the discretion of the trustees. R¢stricted income fijnds are tknse donalLd for usc in a pprticular area or for sp¢¢ifi¢ purw$es, Ihe use of which is r¢slricl¥d to thal area or purpose. FinaD¢ial instruments Classificalion The charity only has financial asscls und financial liabiliti¢s of a kind that qualify as b&8ic financial instruments.. B&sic financial instruments orc initially reLognised al transaction value subsequently measurcd at Iheir settlement value with thc Lxccplion of bank which arL subsequently rneasured al thc C%Ying value plus accrued interest less repaYmts. The financing chargc to cxpcndittue is at a constant rate GalLulal¢d using the eflcctive interest m¢ihod. Page 17
XteRd Global Notes to the Financial Statements for the Year Ended 31 December 2024 3 Income from donations and l¢ga¢ies Restricted funds Total Funds General DesixDated Donations from individual$ Grants. including capital grants Donated services 172.254 631,467 ,291,334 585,040 2 507,841 2 325 747 803,721 1,291,334 615,640 2710695 30,600 202,854 295 201 TotAI for 2024 Tot81 for 2023 2 620 948 4 Intome from other tradillg activities nr tricte Gener1 D¢sigtt#ttd Restricted llds Total Funds Trading - Other trading income Totgl for 2024 Total for 2023 5,606 534 534 218 6.140 5.993 5 Investment Income nrestric General Restri¢ted fuDds Total Funds Dtsignated InlLrLst r¢¢civablc on bank deposils Renlal income Total for 2024 Total for 1023 6,955 51,03¥ 1,218 8,175 51.038 511270 6 Other intonje ri Restricted funds Total Funds General Designated Other income Total for 2024 Tot¥1 for Z023 5,176 5,176 252 252 330 5.428 5,428 7 Costs of Raising Funds Unrestrieted fund5 General Designated Restricted funds Total Funds FundTaisin8 fces char8ed by Pioneers otTices Markcling and publicity Total for 2024 Total for 2023 1.605 14.929 16,534 I l5,792 117,926 233,718 202,208 117,397 132,855 250,252 2 l7,924 Page 18
Xtend Global Notes to the Finaneial Statements for the Year Ended 31 December 2024 8 Expenditure on Cbaritable Activitie5 Activities undertak¢D directly 120,902 691,316 544,000 976,636 136,557 Support costs Total 187.430 715,646 565,759 997.539 136,557 2024 Tot*l 179,685 772,351 509.055 ,110.521 131,381 Generdl Fund Arab World Media PALM 66,528 24.330 21,759 20.903 Media lo MoveFnents 2469410 133 520 2 602 930 2 702 993 £323,98712023 £307,190) of the expenditure 15 altribu¢able to unre8tricled fijnds and £2,278,943 (2023 £2.395,803) is artributable lo r¢slrictLd lund$. 9 Anglysi$ of Suppfjrt ¢osts Arab World Media Media lo Movcmcnls 2024 Total PALM GovLmancc Accounting and Finance Payroll and HR 8UPPnrt Building scrviccs Administration Inforni&tion TechJx)logy 2024 'fotal 8,104 5.999 8,104 5,998 8,104 5,W9 7,365 13,2110 630 14,Q86 22,241 8,925 31,677 31,276 630 14,Q86 25,508 30,342 133 519 1.0 9.1311 24.330 1.089 f>.568 21,759 I,IY89 S.711 ?0,903 Arab World Media Media io Movements 2023 Total 2023 costs: PALM Gov¢manee Acciyunting and Financo Payroll and EIR support Building serviccs Administration Inforrnation Technology 2023 Tot 11,373 .353 555 12,787 5,867 16,322 55.257 11,373 8,353 555 12,787 5,867 4,836 1,373 8.353 555 12,787 5,867 30,640 69.576 34,118 25,060 1,666 38,362 30,410 38.988 168.604 10 Net ineomelexpenditllre for the year 2024 2023 This is stsled after charging- Foreign currency exchang¢ (gainyloss Auditorfs remuneration: audit fees - accounting and payroll serviccs Depreciation oltangible fixed &%5ets (17,448) (441) 4,8 2.118 59,763 63a 58.147 Page 19
XteDd Global Notes to the FinaDcial Statements for the Year Ended 31 December 2024 I l Analysis of statf costs ¥nd the c05t of key management personnel 2024 2023 UK 51aff IJK Social 5ecwity costs UK Employer's contribuiion to pension Non-UK staff Non-UK statTbenefits Tothl paid by Ihis Lharity Donalcd services (funded staffj Total staff costs 239,923 20,557 31,645 229.267 29,758 551,150 615,640 1.166 790 235,832 19,469 28,959 223,422 34,056 541,738 737,997 1.279.735 No employec had ¢mploye¢ benefits in ¢x¢es$ of £60,000 (2023.. nil). The n)onthly average numbcr of person8 (including senior managemenVleadcTship team) employcd by the charity during the ycar, expressed as 11 lim¢ ¢quival¢nt.% was 8.1 (2023.. 8.9) of which thc majority were parlially or fully fi]nded from oihcr sources. 12 Trustee remungration and expenses and related pqrty transactions The chilY trustees were not paid or r¢c¢ived any other bcnLfits from employmcnt wilh the charity nor did any trustee receive paymonl for professional or other scrvices. 'l-hc lollvwing amounts were paid kn the truslccs as rLimbursemenl ot LxpensLS incurred in the pcrformance of Ihbir duli¢s', M G Billage £298 (2023- £1,180) of cxpensLs wLr¢ reimbursed ts) M G Billage during the year J E RowlaDds £411 (2023..£971) of cxpcnscs were reimbuNod to J E Rowland8 during the year P D Sharp £839 (2023.. £2,758) of expescS wcre reimbursed lo P l) Sharp during the year C Keyng £1,821 (2023.. £1,784) of expenses werc r¢imbur$¢d to C Keung during the year A Yol £1.488 (2023: £756) ofexpenses were Tcimbursed lo A Yohn dwing the ycar H WolmarYdn5 £1,652 (2023: £615) of expenses were reimbursed lo H Wolmarans dwing the year The Charity enjoy5 a Close WOTking relationship with Pion¢¢rs Inc. (United States). Pioneers is a worldwide mission movement and raises ndS for the charity. Mr H Woltnarans is also a director of a company providing education service5. Dwing the year, thc company incurred expenses of £253,098 (2023: £184.210} on behalf of Xiend Global, which have been fijlly reimbursed by Xtend Cjlobal during the y¢&r. Al the end of thc year the balance owed to Xtend Global by that company was £5,982 (2023: £3.442). There were no other transactions with the tnLqlees (directors) which rcquir¢ separate disclosure. On¢ gft of£500 was received from one of the ITh1¢¢5 towards governance cost5. Page 20
Xtend Global Notes to the Financial Statements for the Year EDded 31 December 2024 13 Otber recoznised £giDsl(Ios5es) Restricted funds Total Funds General Designated F,xchange gainsl(losses) Total for 2024 Total for 2023 13,623 30.990 17,367 435 441 14 Tangible Fixed Assets Land and building5 Fwnilwe & cquipmenl Total Cost At 1.1.24 Addition Disposal At 31.12.24 766,632 55,581 822.213 766 632 822213 Aceurnulated deprecl8tlo At 1.1.24 Chargc for thc year 3111,509 58,147 55,581 374,090 58,147 At 31.12.24 376 656 432 237 Net bookvalue At31.12.24 389976 389 976 At 1.1.24 448 123 448,123 Ail of the abovc asscts arc used lo turthcr thc company's main objects and have been dcsignalcd as suclL 5 Investments 2024 2023 Shares in group undertakin85 and participating inter¢sls tnveslmenl share of office property Other investments (CCLA invcstmcnt tund) To¢al lThv¢sLm¢nts at 31 December 2024 409,870 1,381,678 1,791,549 409,870 1,307,298 1,717,169 Shares in group uDdertakings alld participating interests Subsidiary undertakings Totsl Cost At l January 2024 At 31 Dccctnber 2024 Net book value At 31 December 2024 At 31 DcccmFkr 2023 Page21
Xtend Global Notes to tbe Financial Statements for the Year EDded 31 December 2024 IS (coDtillued) Dttsils ofund¢rtaking8 Subsidiaries The company owns IOO/o of the ordinary share capital of North Africa Properties Limited. The company is dormant and has not traded during the year. The aggregate amount ol'shar¢ capital and reserves of North Africa Prnperties Limited as at 31 December 2024 w&s £1. Offic¢ property Investment Property Total Cost Al l January 2024 At 31 December 2024 407,797 407,797 407,797 407,797 Fair vAIv¢ At 31 Deccmbcr 2024 At 31 Dcccmbcr 2023 409.870 409,870 409,870 409,870 The inveslnenl propety is the 0nd floor of Pilgrim Housc, the olyicc ownLd by thc charity. Thc charity ocGupi¥s th¢ lirst fltsor and rcnls out th¢ ground flvor to a number of local charities. Th¥ whole property, and each separate floor, w&q valued by the investment method nf valuallon, calculalLd by applying a markcl yicld lo Ihc pol¢nlial nci inwmc achievable from the land and buildingq exi.81ing on Sitc. The main &8sumptions undLrlying thc valuation w¢r¢ that ( i) there are no onerous reslriclions, ¢n¢Lunbrances, easements, wayleavcs, ctc. which may adversely affect the Yaluation,12) a detailed survey would nat reveal any signilicant delect5 in the Condition of'thc propcrtyi (3) thc cxisling usc is nol contrdry to planning regulaions and any planning permissions do not contsin any particularly onerous or restrictive conditions, (41 investigation would not disclose Ihc presencc of any adverse environmcntal faclors, (5) no potenliul fur Contamination cxis15, (6) invLsligation would not disclose the presence of any potentially deleterious or huardou5 material used in the constru¢lion. The PTop¢rty was valucd by Flud¢ Comm¢rcial (Chichosler) Limited on l8 Novcmber 2019 and the trustees on5ider that the current market value is not materially different from the value included in the accounts. Otber iDvestmeDts Listed investments 2024 2023 ValuAtion Ai l Januory 2024 Gainl(loss) dwing the ycar Net Book Valu¢ at J l De¢ember 2024 .307,298 74,380 381678 1,155,214 152,084 1307 298 The above investmcnts 8sc all in investment assets held in the UL All are unrestricted fiuids in an Ethical Inveslment Fund with CCLA. These investments are held to provide an investment return for the Charity. During the year the value of the investments increascd by £74,380 (2023.. incrcascd by £152,084). At 31 December 2024 the market value of the investments was £1,381,678. Page 22
Xtend Global Notes to tbe Financial StatemeDt5 for the Year Ended 31 December 2024 16 Debtors 2024 2023 Trade Debtors Prcp8ymenls and accrued income Other Debtor$ 23.508 82,441 105 949 9,428 105.724 115 151 17 Cayh *Dd cash equivaleDts 2024 2023 Cash on hand C&sh at bank 9,570 ,136.494 1 146064 1,947 1,151,453 1153 400 18 Credittsrs falling due within one year 2024 2023 AccnlS and deferred income Other Crelthtors 42,101 86,500 1211601 46.277 102,670 148 947 19 Fullds TrarLsftrs betwe¢n funds Other recognised gaAnsl Al (los.qe8) 31.12.24 At 1.1.24 Incoming ExpLndilure Resources Ullrestrlcted fundi General UnrcslriLl¢d Genernl 14und Deslgrtaled Propcriy Fund Propety Revaluation Fund Building Maintenance Computer Equipm¢nt ERB Sale Fund ERB Trident E.'und 301,616 271,629 (203.964) (87,000} (13,623) 268,658 679,080 178,913 80,773 (58,147) 620,933 178,913 93,991 1,218 12,000 ,370,620 169,560 2,478,946 2,780,562 (20,762) 74,380 1,424,238 91,150 74,380 2,409,225 60.757 2.677.883 (78.410) (136,557) (340.521) 1.218 272.847 (8,762) 95,762) Total unrestricted funds AWM PALM MTM Syria Appcal Tot restricted funds 332,690 169,389 2,131 124 504,334 875,158 (816,K29) 598,692 (631,457) 1,034,779 (1,064,375) 55.489 15,273 25,000 31,011 477,519 151,897 (21) (2,486) 124 30,990 627,054 2.508.629 (2,512.661) 95,762 Total lunds 3,284,896 2.781,476 (2,853,182) 91,747 3,304,937 Page 23
Xtend Global Noles to the FiDaD¢Tral Statements for the Year Ended 31 De¢ember 2024 19 {eontiDued) Previou5 Year Movements TratL8fers Other recogniscd between gainsl Ai runds (losses) 31.12.23 At 1.1.23 Incoming Expenditwc Resources Unrestricted funds Geneml Unreslriclcd General Fund Desigttaled Propety Fund Propety Revaluation Fund Ruilding Maintenanc¢ Computer Equipment LRB Salc Fund ERB Tridcnt Fund 454,088 356,494 (195.401) {314,000) 435 301,616 737,227 178,913 56,163 1.616 1,455,838 (58,147) 679,080 178,913 80,773 610 24.000 (1.616) (57.302) (180,000) 110,440) 180,000 127,505) 24,000 {322.906) (290,000) 152,084 1.370,620 169,560 152,084 2,478,946 152,519 2,780,562 2.429,757 2,883,845 610 357.104 TotAI UDW¢$tri¢t¢d funds AWM PAI.M MTM Syria Appcal Total restricted funds 291,394 153,802 36.848 4,000 486.044 912,163 (870.868) 570,159 (554.578) 843,973 (1,168,689) 3.876) 2,598,011) 332,689 169,389 2,131 124 504,334 290,000 2,326,295 290,000 TotAI funds 3,369,889 2,683,399 (2,920,917) 152,525 3,284,896 The Propety Fund represents the net book value of the company's designalcd fixed asscts. T5 fimd was designat¥d SLI tlval Ihe remainin8 Ilnreqtricted funds will give a clear view of the level of tree reserves. The Cornpuler bquipmenl fijnd represents thc net book valuc of Lquipment pUrCh¢ed in JssoLialion with the 2019 renovalion of Pilgrim Housc. The Building Maintenance fund receives regular sums transf¢rr¢d from the General Fund dnd is designated by the board of trustees tor major rnainlenance work on Pilgrim House. ERB Sale Fund w&3 set up with th¢ proceed5 of Ihc sale of a propcrty in France in 2020. These fijnds were designated to facilitate the growth of a ministry within the charity, but not for nomjal operational expenseb. e.g. for capital expendittwe, debt reduclion. major ministry expansion or thc launch of new initiativcs. Up to 10/0 of the net proceeds was allocated to be given as grants lo orgarusations extemal to the charity. within ihe scope of thi.s charity's registercd purposes. The majority of the fijnd is invcst¢d in a CCLA investsMLnt fund Is¢E nolc l5), and the gains vr losscs on thal inveslmeThl are addLd lo this fun(L ERB Trident Fund was set up by the Board redesIting £180.000 from thc ERB Sale Fund. The purpose of the ERB Trident Fund is lo invesl in one-time lechnology-bas¢d d¢v¢lopm¢nls that have a wide impact across Pioneers medi ¢nhuncing efficiency, effectiveness and fruitfulness for the ministrics of Xtend Global. Arab World Media (A WM) Fund engages unreached peoples of the Arab world Ihrough media to facilitate church planting. as the Holy Spirit enables. PALM cquips believer5 with the tools atKI skills n¢oded for ministry and n$ and supports existing and future Icaders so that they can, in tum, train others. Media to Movetnenls (MTM) equips disciple makers to use media and technology 5tr8le8iGally to identify and engage spiritual seekers. who aecelcrate a movcment of reproducing disciples in their communiry. The minimal deticit of £2.485 on this fund 31 December 2024 is confidently expected lo be cleared in 2025 by steadily increasing in¢orne for MTM. The Syria Appeal Fund handles donations for the relief of those affecled by the conllict in Syria. Page 24
Xtend Clobal Notes to the FiDaD¢ial Statements for the Year Ended 31 December 2024 20 Transfers between funds es General Re$triittd fuDds Designated Gen¢ral Fund allocation to Building Maintenance Fund Gencrai Fund subsidy grant for Media lo Movements Grant from EFJ "Irid¢nt Fund lo AWM and PALM otTic¢ costs (12,000) (75.000) 12,000 75,000 20.762 (20,762) 187 000 Gencral Fund allocation lo Building Maintenance Fund Gen¢ral Fund subsidy grant for Mcdia lo Movements Allocation Irom ERB Sale Fund to F,RB Trident Fund Allocation trom LRB Salts Fund lo ERB Triden1 Fund (24,000) (290,000) 24,tMIO 290.000 (180.000) 180,000 314.OJO 290 000 21 AnalyJi8 of Net A55ets between FuDds Unrcslricted Dcyignalcd Restricted Funds Funds Total Funds I,und balances at 3 1st Decembcr 2024 are rLprLscnted by.. Tsmgible FixLd assets Fixed asset inv¢stments 389,976 ,791.548 227,701 389,976 1,791,549 707,934 1,252,013 (80,880) 1128,601) 627 054 3 304 937 Current asslts 316.378 (47,722) 268 658 Currimt liabilities 2 409 225 22 Capithi Commitments Amounts Contracted for but not provided in Ihe fintmcial 8talcments amounted to £0 (2023- £01. 23 APB Ethi¢41 Standards r¢levaDI ¢ir¢ums¢#ntes In common with many other Lharities of our size and nalure we usc our auditors lo prepare and submit rcturns to the t authorities. Page 25