Rogistered number: 08703834 Charity numb•r: 1154239 GLOW CHURCH UK LTD (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 *AE1H4G95" 301121202S COMPANIES HOUSE A15
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GLOW CHURCH UK LTD (A company limitsd by gvaraniee} CONTENTS Page Refgrgnc• and admini¥trativo dolails of tho Company, its Trust••$ •nd advisers Trustees, r•port Ind•p•nd•nt audltorn. roport on the flnancS•l •tal•ments Consolidated statement of financlal a¢llvitias 7-10 Consolidated balance sh•ot 12 Company balance Bheet Con•olidat•d statemont ol ca$h Ilow• 13-14 15 Nots8 to th• flnan¢l41 $tst•m•nts 16-33
GLOW CHURCH UK LTD (A company Ilmltod by gvarnnteo) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Tru$t•o8 A G Cherrie F Clack IPEDuffew W G Eriksson A S Glassbrook S W Mawslon P A Stanley (resigned 3 May 2024} Company r•giSt•r•d number 08703834 Charity rn9l$tèr•d nUfflr 1154239 R•gl¥Jt•r•d offl¢• Glow UK Long Tens Way Aycliffe Busines8 Park Newton Aycliffe County Durham DL5 SAP Company ••cr•tsry S E Sireel (appointed 20 May 20251 K l Earfey {reslgned 20 May 2025) Ind•pondgnt audilorn Armstrong Walson Audit Limited Chartered Accountants and Stalulory Auditors One Slravhjerry Lane Newcasile upon Tyne NEI 48X Page 1
GLOW CHURCH UK LTD (A company limltsd by guarants• TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustee present their annual report together with Ihe audited financial ststements of the Company for the year 1 April 2024 to 31 March 2025. The Annual report seNes the purposes of both a Trustees, report and a directors, report under company law. The Tfuslees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements. the requirements of the charitable company's governing document and the provisions of the Slalemenl of Recommended Practice ISORPI applicable to charities preparing their accoun13 In accordance with Ihe Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland (FRS1021 {effe¢live l January 20191. ObJecll¥•• and actlvllle• . ObJKtiv•s and alms The objectives of the Charity are a) To advance the Christian faith In accordance vlth tha Statement in such ways and In such parts of the Unrted Klngdom or the World ag the directors from lime lo lime may think fil, and b) To relieve $ickness and financial hardship and lo promote and presernie good health by the provision of funds, goods or services of any kind, including through the provision of counselling and 5UPPQrt in such parts of the United Kingdom or the World as the directors from lime lo lime think fft, and c) To advance education in such ways and in such parts of the United Kingdom as the directors from time to time may think fil. A summary of tha acllvltSes ol the chsrlty as sel out on Ihe Ch8rlty Commlssion website is that the charity provides nursery care and hire of facilities that advance public education by mounting lectures, exhibitions and conferences. In selllng objectives and planning for activities, the Trustee have glven due con8lderallon to general guidance published by the Ch8rlty Commisslon relaling lo publlc benefit, including the guidance 'Public benefit.. running charlty IPB21'. Achievements and performance Pa9e 2
GLOW CHURCH UK LTD IA company Ilmlted by guarnnts•) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and perforniance Icontlnuedl . Main achievements of th• Company Glow Church UK Ltd further continued its joumey of grov•lh and communty impact, with a focus on building on our outreach and fostering an inclusive environment. This report highli9hl$ our achievements and developments In key areas of our operations. Membership Grobthh Continuing our focus on membership growth. 2025 has seen a further significant increase in our church membership. This gro*h again continues to be amongst young families, children, and youn9 people, ag well as people from overseas. This continuous and sustainable growth is a direct result of our welcoming and engaging atmosphere. We continue to place a strong emphasis on creating a vibrant and nurturing environment wlh a number of speci31 events and attraction¥. Diversity and Inclusion Glow Church UK Ltd continues to ft)cus on grh in the area of diversity and inclusion. with further 9rowth in our generational and cultural profiles, as well as a gro4h in families who have Children wlh additional needs. Our commitrnenl lo embra¢in9 individuals from various ethnic backgrounds has continued in the period, with a number of new overseas individuals and families joining Glow. International Sunday was again another significant event in the church calendar. Growlh in Connect Groups Our Conne¢1 Groups contsnue to thrive and grow. wth new connect groups launching in new geographical locatlons to better serve our members In their l¢)cal area. Oulreach to the Local Community Our commitment lo outreach and community engagement continued In 2025. Free showings of the Christmas production 'The Gift" increased. and attendee numbers more than doubled in the period. These initiatives continue lo be well-received, contributing lo our mission of bein9 a beacon of hope and 8UPPOrt, with several members of the community returning to attend church services. In summary. 2025 has been another year of grovrth and OXPAnsion, wilh significant plans for gr0h and investment in 2026. Flnancial roviow a. Going conc•m After making appropriate enquiries, the Trustee have a reasonable expeclalion Ihat the Charitable Company has adequate resources lo continue in operational existence for the foreseeable future. For this reason. they continue lo adopt the going concem basis in preparing the financial slatemenls. Further details regarding the adoption of the going Goncern basi5 can be found in the accounting policies. b. R•s•r¥•• policy The Trustees have determined to increase the level of available reserves in the period. These funds are not restricted and can be allocated lo var¢ous special projects. Unreslricled retained eamings as al 31 March 2025 was £1.156,766 {2024 £847,548). Expenditure is conlinually monitored against agreed budgets lo ensure that ¢osl$ do not exceed revenue and reserves are protected. Budgets and expenditure are reviewed every 6 months lo reflect current income levels. The Reserves Policy wll be kept under review. A capital loan repayment Df £80,000 was made in April 2025 to Glow Church Australia. reducing the inte$t- free loan to £54.478. Page 3
GLOW CHURCH UK LTD (A company Ilmlt•d by guarantee) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 c. Prlnclpal fundlng The principal funding Source$ are., a) donations and gifts to Glow Church UK Ltd. bl provision of nursery care, c) hire of fa¢ililies, dl grants. The Charity does not unoertake speciffic fundfaising events. Its main source of funds are the donations of members of the congregation. No significant expendrture is incurred in raising these fvnds. Regular donalians have increased consistently throughout the year the total of donations and gift aid was £359,286 12024.. £310,879) excluding vision offering donations. A des¢gnaled vision offering VAS taken in September 2024 with the lolal of donations and gift aid £46,395. The total for all donation8 and gift aid in the year was £405,68112024 £313,878). The Charity has a trading subsidiary "Innovate County Durham Limited" which operates conferencing and events on the main site in Nevrton Aycliffe. The staff are paid, although volunteers do pro¥Kle support from lime lo time. The conference facilities provided through Innovate County Durham Limited are hired out to other Of9anlsalions such as the NHS and local f*ms for education and training purpose$ as V11 a8 mounbng exhibitions. The Charity also utilises any surplus funds from Innovate County Durham kn'miled. 8tructur•. gov•rnanco and management a. Gov•rning documont The charity is controlled by its goveming document, a deed of Irusl, and constitutes a limf(ed company, limited by guarantee, as defined by the Companies Act 2006. b. M•lhod• of appolntm•nt or •1octlon of Tru•tw• The Directors of the Company are also Charity Trustees for the purpose of Gharity law. The Oireclors have the power lo appoint any other person as a Director. . Organl•ational structure •nd do¢l•lon4naking pollcle• The Chantys legal status is that of a ¢ompany limited by guarantee and is governed by the companls Memorandum and Articles of Association. The Charity ig organised so that the trustees meet regularly lo manage ils affairs. The day to day management is delegated to the Lead Pastors of Glow Church UK Ltd. d. Pol1cl adopted for th• Inductlon and lrnining of Trustll08 New trustees a invited and encouraged ID visII the main location to familiari5e themselves wlh the charity and the context in which il operates. They a provided wth a Directors pack which contains a copy of the Memorandum and Articles, a job description and details of the trustees, responsibilities logelher wth the latest financial slalements and the ¢urrent financial posits"on. The Glow Church UK Ltd board meet quartedy. o. Pay pollcy for key management p¢rsonnel Remuneralion is reviewed annually by the Board of Trustees by reviewing rates of inflalion, industry factor, real living wage. Any pay awards for all staff including the senior management team go through a fomial approval process. Page 4
GLOW CHURCH UK LTD (A Company Ilmitgd by guarantsè) TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Structure. governance and management {eontinued) f. Related party relationships The ¢harilable Company owns 100% of the share capital of Innovate County Durham Limited. Other related parties comprise the Trustees and Glow Church Australia. g. Risk management The trustees have developed a Tisk fegister, which 15 a standard agenda item at all board meetings. Controls are in place lo provide miligalion and protection against th8 risks idenlified. Plans for future poriods As we look ahead lo 2026, our major projecl in progress, known as 'wide open spaces., wll see the church expand our coffee shop facility within the main chufch building, allowing further Space to be freed up for OUT children's work as well as expansion for the Liwe Cub$ nursery. Stalement of Tru8tse8' r•8ponsibiliti The Trustee {who are al80 the directors ol the Company lor the purposes of company lawl are responslble for preparing Ihe Tru8lees' report and the financial slalemen15 in accordance wth applicable law and United Klngdom Ac¢ountlng Standards (United Kingdom Generally Accepted Accounling Pracllce). Company law requires the Trustee lo prepare financial slalements for each financial year. Under company law, Ihe Trustee musl not approve the financial slalernenls unless they are satisfied that Ihey give a true and fair vlew of the state ol affairs of the Group and the Company and of their Incoming resources and application ol resources, Includlng Iheir income and expenditure. for that period. In preparing these financial 51atemenls. the Trustae are requlred to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting eslimales that are reasonable and prudent: slate bthelher applicable UK Accountin9 Standards IFRS 102) have been followed, subject to any material departures di5¢1osed and explained in Ihe financial statements. prepare the financlal slalemenls on the going concern basis unless 11 is inappfopriale to presume that the Group will continue in business. The Trustee are responsible lor keeping odequale accounting records that are sufficlenl lo show and explain the Group and the Companls transactions and disclose with reasonable accuracy al any time the financial position of the Group and the Company and enable them lo ensure Ihal Ihe financial stalemenls comply wth Ihe Cornpanies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps lor the prevention and deleckn.on of traud and other irregularits'es. D18clo$ur• of Inffjrmatlon to auditor• Each of the person5 who are Trustee al Ihe time wthen thi$ Trustees. port is approved has confirmed that.. so far as that Trustee is aware, the is no relevant audit information of which the Charilable group's auditors are unaware. and that Truslee has taken all Ihe steps that ought lo have been taken as a Trustee in order lo be aware ol any relevant audit infomiatson and lo establish that the charitable group's auditors are aware of that infomialion. Page 5
GLOW CHURCH UK LTD (A company Ilmitod by guaranteè) . TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Audltors A$ a fe$ull of the charity exceeding audit thresholds, Armstrong Watson Audit Limited were appointed auditors. The auditors, Arm51rong Watson Audit Limited, have indicated their wllingness lo conts'nue in office. The designated Tw$tee thfjll propose a motion reappointing the auditors at a meeting of the Trustee. Approved 2311212025 by order of Ihe members ol the board of and 51gned on their behalf by.. Twslee on Amy Gla55brook IDec 23. 2025 10'.49.'03 GMT) A S Gla5sbrook (Trusleel Pa9e 6
GLOW CHURCH UK LTD (A company Ilmltgd by guarnnts•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GLOW CHURCH UK LTD Oplnlon We have audrted the finan¢ial slalements of Glow Church UK Ltd Ilhe 'Pant Charitable companVI and ils subsidiaries (the 'group') for the year ended 31 March 2025 vthich comprise the Consolidated statement of financial activities. the Consolidated balance sheet. the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 16 applicable law and Unilecl Kingdom Aceounling Standards, including Financial Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, {Unlled Kingdom Generally Accepted Accounting Practieel. In our opinion the financial $tslemenls'. give a Irue and lair view of the state of the Group's and of the parenl Charitable company's affairs as at 31 March 2025 and of the Group's incoming resources and application of resources. including ils income and expenditure for the year then ended: have been property prepared in accordan¢• v4llh Unrted Kingdom Generalty Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. 8asl8 for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements se¢lion of our report. We are independent of the Group in accordance wth the ethical requirements that are relevant lo our audit of the financial stalernenls in the United Kingdom, including Ihe Financial Reporting Council's Elhical Standard. and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We belleve that the audit evidence we have obtained Is sufficient and appropriate to pro¥idg a b0818 for our opinion. Comparatlve Inforniatlon The comparative figures for the year ended 31 March 2024 are unaudited and were subject to an independent examination. An independent examination provides a lower level of assurance than an audit and primarity consists of inquiry and analytieal review. These figures have been Included for comparatsve purpose8 only and do not form part of the audited financial slalemenls for the year ended 31 March 2025. Con¢lu$ion8 relaling to going ¢on¢orn In auditing the financial statements. have concluded that the Trustees. use of the going concem basis of accounting in the preparallon of the financial. slolements IS 8ppropriale. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions Ihal, individually or colleclively. may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from bthen the financial statements are authorised for issue. Our responsibilities and the responsibilits'es of the TfU$tee$ wth respect lo going concem are described in the felevanl sections of this report. Page 7
GLOW CHURCH UK LTD IA company limlted by guarnntee) INOEPENDENT AUDITOR8. REPORT TO THE MEMBERS OF GLOW CHURCH UK LTD (CONTINUED) Other infomiaffjon The other Inlormalion comprises the information included in the Annual report glher than the financial slalements and our Auditors, report Ihereon. The Trustees are responsible for the othef information contained within the Annual report. Our opinion on the financial statements does not cover the other information and. except lo the extenl otherwise explicrtly slated in our report. we do not express any form of assurance conclusion thereon. Qur responsibility is lo read the olher informalion and, in doing so, consider wholher Ihe other information 18 materially inconsistent wilh the financial 8latement8 or our knoledge obtained in the course of the audit, or otheThMse appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misslatemenl in the financial Statements themselves. If, based on the work we have perfomied, we condude ihat there is a material misstatement ol this other infomialion, are required lo report that fact. We have nothing lo report in this regard. Oplnlon on other matl•rs pr¢gcrib•d by the Companle8 Act 2006 In our opinion, based on Ihe work undertaken In the cour$e ol the audit.. the inforrnalion given in the Trustees, report for the financial year for vhlich the financial statements are prepared is consistent wilh the financial slalements. the Trustees, report ha$ been prepared in accordance vlth applicable legal requirements. Matlors on which we ar• requirèd to r•port by oXC•Ptlon In the Iwhl of our knoledge and understanding of the charitable company and its environment obtained in the course ol the audit, we have not identified malefial misslalemenls in the Trustees. report. We have nothing lo report in respect of the followng matters in relation to 1¢h Companies Act 2006 requires us lo report lo you if, in Our opinion.. the parent charitable company has not kept adequate and sufficient accounllng records, or relum$ adequate for our audit have not been received from branches not visited by us.. or the parent charitable company finan¢ial statements are not in agreement wth the accounting records and relums., or certain disclosures of TNslees' remuneration specified by law are not made.. or we have not received all the information and explanations y require for our audit. or the Trustees Yre not enlilled to prepare the linancial stalemenls in accordance with the Small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from Ihe requirement lo prepare a Strategic report. Ro•ponsSblllll•• ol Iru*ts•• As explained rnore fully in the Tru5tees' responsibilibes statement. the Trustees (Nytto are a150 the director5 of the charitable company for the purpose5 of company lawl are responsible for Ihe prepafation of Ihe financial stalements and for being satisfied that they give a true and fair view, and for such internal control as the Truslees delemiine is necessary lo enable the preparation of financial stalemenls that are free from material misstatement, whether due lo fraud or efror. In preparing the financial stalements. the Trustees are responsible for assessing the Group's and the parent charitable company5 ability lo continue as a going concem. disclosing, as applicable, matters related lo going concern and using the going concem basis of ac¢ounlin9 unles$ the Tru$lee$ either intend lo liquidate the Group or the parent chartsble company or lo cease operations. or have no realistic alternative bul lo do so. Page 8
GLOW CHURCH UK LTD IA company limitod by guardnteB} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GLOW CHURCH UK LTD ICONTINUED) Auditors. responslbllllles for the audit of the financial statements Our objectives a to obtain reasonable assurance about vthether the financial statements as a whole are free from material misslalemenl, vthether due lo fraud or error, and lo issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of as$uran¢e, bul is not a guarantee that an audit conducted in accordance wth ISAS IUK) wll always delect a material misslalemenl vthen il exists. Misstatements can arise from fraud or error and are considered material if. individualty or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance th laws and regulations. We design procedures in line with our responsibilitie$, outlined above, lo detect material misslalements in respect of irregularilies. including fraud. The exlenl to lch our procedure5 are capable of detecting irregularities, Including fraud18 delalled below. We obtained an understanding ol laws and regulations Ihal affect the company, locusin9 on those that had a direct effect on the financial slalements or that had a fundamental effect on ils operations. Key laws and regulations that we identified included the UK Companies Acl, lax legislation and occupational health and employment le9islats'on. • We enquired of the directors. reviewed correspondence with HMRC and reviewed directors meeting minutes for evidence of non-compliance with relevant law$ and regulations. We also reviewed controls the di110r$ have in place to ens4Jre compliance. We gained an understanding of the controls that the directors have in place lo pievenl and delecl fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounts'ng period. . The ri$k ol traud and non-compliance with law$ and regulations and fraud was discus$e(J within the audit team and les18 were planned and performed lo address these risks. We identified the potential for fraud In the follobmng area8.' revenue cognitIon and management override of controls. . We reviewed financial statements di$Glosures and tested lo supporting documentation lo assess compiian¢e with relevant la and regulations discussed above. We enquired of the directors and Ihir&paty advisors about actual and potenlial litigation and claims. • We performed analytical procedures to identify any unusual or unexpected relationships that rnigm indicate risks of material mis$talernenl due to fraud. In addressing the rlsk of fraud due lo management override of internal controls we tested the appropriateness of joumal entries and assessed ether the judgements made in making accounling estimales were indicalive of a potents'al bias. Because of the inherent limitations of an audit, there 15 a risk that we will not detert all irregularities, including those leading to a material misslatemenl in the financial statements or non-compliance wilh regulalion. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial 51alements, as we will be less likely lo become aware ol instances of non.complian¢e. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.fr .or -uklaudilorsres onsibilities. This description forms part of our Auditors. report. Page 9
GLOW CHURCH UK LTD (A company limlted by guarantee INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GLOW CHURCH UK LTD ICONTINUED) ol our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and lo the charitable company's Iruslees, as a body. Part 4 of the Charrties (Accounts and Reports} Regulations 2008. Our audit work ha$ been undertaken so Ihal we might Stale lo Ihe charitable company's members those matters we are required lo slate to them in an Auditors, report and for no other purpose. To the fullest extent pernied by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils membefs. as a body. lor our audit woik, for this report, or for the opinions we have fomied. Simon urne ec 23. 2025 JO.'51.'25 GMT) Simon Tumer15onlor statutory •uditor for and on behalf of Arnistrong Watson Audll Llmlled Chartered Accountants and Slalutory Auditory One Slravbery Lane Newcastle upon Tyne NEI 4BX Dale.. 2311212025 Page 10
GLOW CHURCH UK LTD (A Company limlt•d by guardnt•• CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME ANO EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unmtrlctod fijnds 202S R•s1Ct•d funds 2025 Total funds 2025 Total funds 2024 Noie Income from: Donatsons and legacies Chafilable activities Othei trading activities- Trading subsidiary Inveslmenls Other charitable activile$ 407,999 800.704 18,998 2,429 426,997 803,133 313,678 613,722 283,691 283,691 163.234 382 33.670 39,918 39.918 Total Incomo 1.532,312 21,427 1,553,739 1. 124.686 Exp•ndlturo on: Raising funds - Trading subsidiary Charitable activities 177,729 1,046,391 177,729 1,066,792 110, 744 977,960 20,401 Totsl ?xynditur• 1.224,120 20,401 1,244,521 1,088, 704 N•t Income Transfers beeen fund$ 308,192 1,026 1.026 11,026) 309,218 35,982 Not movem•nl in lunds 309,218 309,218 35,982 R•conclllallon of funds: Total lunds brought forward Net movement in funds 847,548 309,218 147,548 309.218 811,566 35.982 Total funds Carniod forward 1,156.766 1,1S6.766 847,548 The Consolidaled Statement of financial a¢livitie$ includes all gains and losses recognised in the year. The notes on pages 16 to 33 fom part of these financial slatemenls. Page11
GLOW CHURCH UK LTD (A company limited by guarantoo) REGISTERED NUMBER: 08703834 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 202S 2025 2024 14ote Flx•d •g••ts Tangible assets 14 2,085,418 2.114,086 2,08S.418 2.114,086 Current assets Debtors Cash al bank and In hand 16 40,80S 423.7S2 26.025 146,818 464,557 172,843 Creditors.. amounts falling due within one year 17 1245,996) (249,209) Net curr•nt asgets I Ilablllt•s 218,561 (76,366) Tol•l •88•t• le88 curr•nt Ilabllltl•• 2,303,979 2,037, 720 Creditors.. amounts falling due after more than one year 18 (1,147,213) (1, 190, 172) Net assets excluding p¢n$lon asset 1,156.766 84T,548 Totsl n•t •88018 1,156,766 841.548 Charity funds Restricted funds Unrestricted funds 1,156.766 847,548 Totil fund 1,156,766 847,548 The Trustees acknovAedge their responsibilities for complying with the requirernents of the vlith respect to accounting records and preparation of financial statements. The financial slalemenls have been prepared in accordance V•ith the provlslons applicable to entities Subject to the small companies regime. The financial statements were approved and aulhorised for i88ue by the Trustee on 2311212025 and signed on their behalf by.. Amy Glassbrook IDec 23, 2025 10..49..03 GMT) A S Glassbrook (Trusleel The note$ on pages 16 to 33 form part of these financial statements. Page 12
GLOW CHURCH UK LTD (A company Ilmlted by guaranlfro) REGISTERED NUMBER: 08703834 COMPANY BALANCE SHEET AS AT 31 MARCH 2025 2023 2024 Not• Flx•d a¥50ts Tangilje assets Investments 14 15 2,084,274 2.113,028 2,084,276 2, 113,029 Current assels Debtors Cash at bank and in hand 16 27.20S 399,666 29,577 117,745 426.871 147,322 cditOrS.. amounts falling due within one year 17 (208.072) (223, 738) Net current a838ts I Ilablllto• 218,799 (76,416) Total a8801s lass currnnt Ilablllllos 2.303,074 2,036,613 Creditors.. amounts lalllng due after more than one year 18 (1,122,666) (1, 759,611) N•t asset¥ excludlng p•n81on •s•el 1,180,508 8T7,(102 Total not a88•t8 1,180,508 877,002 Charlty fund8 Reslricled funds Unreslricled funds 1,026 1,179,482 877,002 Totsl lund$ 1.180.508 877,002 The Company's net movement in funds for the year was rJ03,506 (2024- £19,992). The Trustees acknedge their responsibilities for complying with the requlrements of the Act V&ith respe lo accountin9 records and preparation of financial statements. The financial slalemenls have been prepared in accordance viith the provisions appllcable to entities subject lo the small companies regime. The financial slalernents were approved and aulhorised for issue by the Trustees on 2311212025 and signed on their behalf by.. Page 13
GLOW CHURCH UK LTD (A company Ilmltod by guarantee) REGISTERED NUMBER: 08703834 COMPANY BALANCE SHEET (CONTINUED} AS AT 31 MARCH 2025 Amy Gla55brook (Dec 23, 2025 10.'49'03 GMTI A S Glassbrook (Twstee) The notes on pages 16 to 33 form part of these financial slatemenls. Page 14
GLOW CHURCH UK LTD ' (A company Ilmlt•d by guarants• CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2026 2024 Cash flows from operating activities Net cash used in operating activities 342,925 82,064 Cash flowg from invostlng activltlos Oisposal of tangible fixed assets Purchase of tangible fixed a$$ets (3.666) (19. 199) (10.4781 N•t ¢••h u••d In Inv•$tlng activltloi 111,614) (22,865) Cash flows from financing activitles Cash inflows from new borrowing Repaymenls of borrowng 272,317 (271.4 12) 154.377) Net ¢a$h {us¢d Inllprovld•d by flnanelng a¢tlvltl•s 154,377) 905 Change in cash and cash 0guival•nls in thg yoar Cash and cash equivalents al the beginning of the year 276.934 60.104 146,818 86.714 Ca8h and ¢••h •qulvalonts •t th• end of Iho y•ar 423,752 146,818 The notes on pages 1610 33 fom part of these financial statements Page 15
GLOW CHURCH UK LTD (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General infomiatlon The charitable company, a public benefft entty, is limited by guarantee and is registered in England and Wales. The mernbers of the charitable company are the Twstees named on page 1. In the event of the Charitable company being wound up. the liability of the guarantee is fv'miled to £1 per member. The registered office of the charitable company is Glow UK Long Tens Way, Aycllffe Busine58 Park, Newton Aycltffe, Co Durham. OLS 6AP. The presentation currency of the financial statements is the Pound Sterfing {£). Accountlng pollcios 2.1 Basis of preparation of Iln•n¢lal stat•ments The financial slatemenl$ have been prepared in accordance 4Mth the Charrties SORP (FRS 1021 Accounling and Reporting by Charities,. Sialemenl of Recommended Practice applicable lo charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}, the Financial Reportin9 Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Glow Church UK Ltd meels the definition of a public benefit entity under FRS 102. Assels and liabilities are initially recognised at hlsloncal cost or transaction value unless other4•Se stsled in the relevant accounting policy, The Con801idated statement of financial activities (SOFA} and Consolidated balance sheet consolidate the financial slalemenls of the Company and ils subsidiary undertaking. The results of Ihe subsidiary are consolidated on a line by line basis. The Company has taken advantage ol the exemption allowed under 98clion 408 of the Companies Act 2006 and has not presented ils own Stalement of financial activilies in these financial statements. 2.2 Golng concern After maklng approprlale enquiries. the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence lor the foreseeable future. For this feason. they continue lo adopt the going concern basis in preparing the financial slalemenls. 2.3 Income JI in¢ome is recognised once the Company has enlillemenl lo Ihe income, il is probable that the income will be received and the amount.of income receivable Can be measured reliably. Income from charitable aclivilies where related lo performance and specific deliverables are accounted for as the Charity eams the right lo consideration by rts performance. Where income is received in advance of ils recognition it Is deferred and included in creditor8. Where enlidemenl occurs before income being received, the income 1$ accrwl. No amounts are included in the financial slalements for services donated by volunteers. Other income is cOgnised in the period in wh)ich it is receivable and to the extent the goods have been provided or on completion of the service. 2.4 Exp•ndlturo Page 16
GLOW CHURCH UK LTD (A Company limltsd by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (contlnuedl Expenditure is COgnISed once there is a legal or constructive obligation to transfer economic beneh'i lo a Ihird party, il is probable that a transfer of economic benefits will be required in settlement and the amount of Ihe obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of Ihe total of direct costs and shared cosls, including support cost5 involved In undertaking each acllvity. Direct C0515 attributable to a single activity are allocated directly lo that activity. Shared costs *M)ich contribute lo more than one activity and support costs 4thich are not attributable lo a single acts'vty are apportioned been those activities on a basis consistent with the use of resources. Central staff costs are allocated on th? basis of lime spent. and deprecotion char9es allocated on the porb'on of the asset's use. Expenditure on raising funds includes all expenditure incurre"d by the Group lo raise fvnds for its charitable purposes and includes Costs ol all fundraising activities events and norfr¢haritable trading. Expendlture on charitablè acts'vities is incurred on directly undertaking Ihe acts'villes vthich furth8r the Group's objectives, as well as any associaled Support CO815. All expendilure is indusive ol Irrecoverable VAT, 2.5 Inlere8t r8Coivabl• Interest on funds held on deposil 1$ in¢luded when receivable and the amount can be measured reliably by the Group. 2.8 T•nglble flx•d ••••t• and depreclatlon Tangible fixed assels costing £200 or more are ¢apilali$ed and reco9nised vthen futurè •conomlc benefits are probable and the cost or value of the asset can be measured lIablY. Tangible fixed assets are inits'ally recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaifment losses. All costs incurred to bring a tangible fixed asset into ils intended working condition Should be included in the measuiemenl of cost, Oepreclation IJ char9ed so a$ lo alloc8le the cost of tan9ible fixed assets le$$ their residuol value over their eslimated uselul lives. Depreciation is provided on the follwng bases.. Freehold property Plant and machinery Revaluation model. 25% slraighl line on cost and Straight line over 10 years 25% straight line on cost 2fh25% slraighl line on cost Fixtures and fith'ngs Computer equipment The property 1$ held at market value, it is maintained regularly throughout the year and for this reason the Iru$lee$ do not believe il is appropriate to depreciate the property. 2.7 Invostmonts Investments in subsidiaries are valued al cost less provision for impaiTmenl. Page 17
GLOW CHURCH UK LTD (A company Ilmltgd by guarant8•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2.8 Debtors Trade and other debtors are recognised al Ihe 88tt1emenl amount after any trade discount off?r9d. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.10 Liabilltl•• and provl•long Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event. il is probable that a transfer of economic benefit bMII be required in settlernent. and the amount of the settlement can be estimated reliably. 2.11 Financial instrtsm•nts The Group only has financial assets and financial liabilrties ol a klnd that quality as basic flnan¢lal instrumen13. Basic financial inslrumenls art initially recognised al Iran5aclion value and subsequenlly measured al their settlement value with the ex¢eption of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Pensions The charitable company operates a defined contribution pension scheme. Conlribulions payable to the charitable company's pension Scheme are charged to the Slalem¢nt of Financial Aclivilitss in th• period lo vthich Ihey relate. 2.13 Fund aecountlng General funds are unreslricled funds vthich are available for use at the discretion of the Trustees in furtheiance of the general objeclives of Ihe Group and 7knich have nol been designated for other purposes. Restricted lunds are funds which are to be used in accordance with specific reslrlctions imposed by donors or which have been raised by the Group for particular purposes. Income from donations and legacies Unrn•trlcted Restricted funds funds 2025 2025 Total funds 2025 Donations 407,999 18.998 426,997 Page 18
GLOW CHURCH UK LTD IA company liffllt by guarant•o) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Incom• from donations and leg4¢i•8 (contlnu•d) Unrestricted lunds 2024 Restricted funds 2024 Total funds 2024 Donations 307,421 6,25T 313,678 Ineluded wthin donalions above are Church donations amounting to £359,07312024.' £266.032) and gift aid of £67,924 (2024.. £47,646). Incom? from chafllabl? actlvltl•s Unre5trl¢ted Rostrictgd funds fund8 2025 2025 Totsl fund8 2025 Grants Nursery Fees 515,364 285,340 2,429 517,793 285.340 Totsl 2025 800,704 2,429 803.133 Unrestnctéd funds 2024 Total lunds 2024 Gran1$ Nursery Fee$ 234, 331 379,391 234, 331 379,391 Total 2024 613,722 613,722 Incom• from other Iradlng actlvltle Incorne from non charilable trading a¢tivitios Unrnstricted fund$ 2025 Total funds 2025 Trading Subsidiary- Turnover 283,691 283,691 Pa9e 19
GLOW CHURCH UK LTD (A company limlted by guarnntse) ' NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Incomè Irom other tradlng actlvllles (conllnued) Incom• from non charitsble tradlng acllvltles l¢ontinued) Unrestricted funds 2024 Total lunds 2024 Trading Subsidiary- Tumover 163,234 163,234 Invèsthient Income Total funds 2025 Unreslncled funds 2024 Total funds 2024 Bank interest received 382 382 Oih•r charilablo g¢tlvlte8 Unrnstrictod fundg 2025 Totsl funds 2025 Other incom8 39.918 39,918 unstriCted funds 2024 Restricted funds 2024 Total funds 2024 Other income 25,308 8,362 33,670 Expenditure on ralslng funds . Trading subsidiary Pa9e 20
GLOW CHURCH UK LTD (A company Ilmllod by guarJnts• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Expenditurè on raising fun(ts- Trading subsidiary Icontinuedl Trading expenses Unre8tricl•d funds 2026 Totsl funds 2025 Trading subsidiary - General expenses Trading subsidiary- Wdges and salarie¥ Trading subsidiary- Nl Trading $ub$idiary- pension costs Trading subsidiary- depreciation 91,983 80,795 2,600 1,972 379 91,983 80.795 2,600 1,972 379 Total 2025 177.729 177,729 Page 21
GLOW CHURCH UK LTD (A company Ilmltod by guaranloe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raising funds - Trading subsldlary (continu•d) Tradlng exp•n¥es {contlnu¢dl unstriCted funds 2024 Total lunds 2024 Tradlng $ub$idiary- General expenses Trading subsidiary- wage$ and salaries Trading subsidiary- Nl Trading subsidiary- pension cost$ Trading subsidiary- depreciation 56,446 50, 787 1,709 1,499 303 56,446 50.787 1,709 1.499 303 rotel 2024 110, 144 110, 744 Analy81• of •xpendlturo on ch•rllabl• actlvltlo8 Summary by fund type Unrestrlcted Restricted funds funds 2025 202S Total 2025 Charllable aclivilies 1,046,391 20,401 1.066,792 Unrestricted lunds 2024 R8slricled funds 2024 Tol81 2024 Charitable actmtses 963.341 14,619 977,960 Page 22
GLOW CHURCH UK LTD (A company Ilmlt•d by guarnntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S 10. Analysls of expendlture by a¢tivitl•8 Activltles undertaken directly 2025 Support costs 2025 Totsl funds 2025 Charitable a¢livities 906.994 159.798 1.066,792 Aclivilies undertaken directly 2024 Support costs 2024 Tot81 funds 2024 Charitable acth'vities 757, 789 220,171 9T7,960 Analysis of direct costs Total lunds 2025 Actlviti•• 2025 staff costs Insurance Llghl and heat Telephone Repairs and renewals Oirect Costs Printing, postage and slalionary 665,790 10,911 50.904 9.658 31.795 133.084 4,852 665.790 10,911 50,904 9,658 31,795 133.084 4,852 906,994 906,994 Page 23
GLOW CHURCH UK LTD (A company limited by gvaranto•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Analysis of expenditure by actlvlties {contlnued Analysis of dlrtct costs Icontlnued) Total funds 2024 Actrrfities 2024 Staff costs Rates and Vdler Insurance Light and heat Telephone Repairs and rènewals Olrecl costs 604, 757 5,432 10, 961 29.956 3. 795 20.997 81.891 604. 757 5,432 10.961 29.956 3. 795 20.997 81.891 757, 789 757, 789 Analy6is of support costs Total lunds 2025 Actlvltl•8 2025 Depreciats'on Management costs Tralnlng Bank Charges Bank loan interest Governance costs 38,767 5,777 3,536 3,744 92.085 15,889 38,767 5,777 3,536 3,7M 92,085 15,889 159,798 159,798 Page 24
GLOW CHURCH UK LTCI IA company Ilmitod by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Analysis of expenditure by ac16vltles (continued) Analysis of support costs (continued Tolal ffunds 2024 Aclivilies 2024 Depreciation Management costs IT Costs Training 8ank charges Loss on sale of tangible a$setS Bank loan interest Governance costs 41,447 46,177 5, 729 2,839 3,203 2,929 709, 702 8, 145 41,447 46,177 5, 729 2,839 3,203 2.929 109, 702 8, 145 220,171 220, 171 11. Auditors. remuneratlon 2025 2024 Fees payable to the Company's auditor for the audit of the Company's annkjal accounts 15,500 Fees payable to the Company's auditor in respect of., Al laxation advisory semces not Included above 350 No auditor fee was payable in the 2024 year end as the charity and its subsidiary fell below audit Ihre$holdg. 12. Staff costs Group 2025 Group 2024 Company 2025 Company 2024 Wages and salarles sla1 secunty costs Contribution to defined contribution pension schemes 692,807 32,324 611,649 34.984 612,012 29,724 560,862 33.275 26,026 12.119 24,054 10.620 751,157 658, 752 665.790 604, 757 Page 25
GLOW CHURCH UK LTD (A company limltod by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Slaff costs l¢ontlnued) The average number of persons employed by the Company during the year was as follows.. Group 202S No. Group 2024 No. Company 2025 No. Company 2024 No. Charitable activities Management and adminislrabon 58 49 55 46 59 50 56 47 No employee recelved remuneration amounting ta more than £60,000 In either year. 13. Tru8t•os' r•mun•ratlon and 0xpen808 During the year, one or rn0 Twslees has been paid remuneration or has received other beneffils from an employment wlh the Company. A G Cherrie has re¢eived remuneralion in his role as Lead Pastor and A S Glassbrook has received remuneration in hèr role as Finance Director. The value of Truslees, remuneralion and other beneffits was as lollows: 2025 2024 A G Gherrie A S Glassbrook Remuneration Remuneration 44,249 5.808 42.164 4.300 Durlng the year ended 31 March 2025, expense8 tolalling £1.949 Yre reimbursed or paid directly lo 3 Trustees (2024 - £NIL lo Truslee). 1& Tanglble fixed assets Group Freehold property Plant and Fixtures and machinery flttings Cornputer equipmont Total Cost or valuatlon Al 1 April 2024 Additions Disposals 1,850,000 347,237 4T1 {2,039) 32,335 6,938 (2,1001 8.561 3,069 2,238.133 10,478 14,139) Al 31 March 2025 1,850.000 34S,669 37,173 11,630 2,244.472 Page 26
GLOW CHURCH UK LTD (A company Ilmlt•d by guarant••} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Tanglblg Ilxed ass•ls (contlnuedl Group (contlnued) Frèohold property Plant and Fixturès and rnachinèry fittings Computer uipmèftt Totsl Depr•cSatlon Al 1 April 2024 Charge for the year On disposals 114,694 29,812 (1,501 7,288 6,116 (1,5021 2,065 2,082 124.047 38.010 13.003 At 31 March 2025 143,006 11,902 4,147 159,054 Net book value Al 31 March 2025 1,850,000 202,664 25,271 7,483 2,085,418 At 31 March 2024 1,850,000 232,543 25,047 6.496 2. 114,086 Company Freehold proporty Plant and Flxtur•s and maehlnery flttlngs Computor gquipm•nt Totsl Cost or valuatlon Al 1 April 2024 Addilions Disposals 1,850,000 347,237 471 12,0391 32,335 6,938 12,100) 7,200 2.604 2,236,772 10.013 (4,1391 At 31 Marth 2025 1,850.000 345,669 37,173 9,804 2,242,646 Depreclation Al 1 April 2024 Charge for Ihe year On disposals 114,694 29,812 (1,501 7,288 6,116 11,5021 1,762 1.703 123,744 37.631 13,0031 Al 31 March 2025 143,005 11,902 3.465 158.372 Net book valu• Al 31 March 2025 1,850,000 202,664 25,271 6,339 2,084,274 At 31 March 2024 1,850,000 232,543 25,047 5,438 2.113,028 Page 27
GLOW CHURCH UK LTD IA company limitod by guaAntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Tangible Ilxed aets Icontinuodl Company (contlnued) A valuation was provided in the 2023 year fof mortgage purposes bthich had been used to revalue Ihe property- The extemal valuer noted to rebuild the property, the cost would be around £6.670.000, however the current market value 1$ £1,850,000 due to the nature of the propety it is very diffKult lo ascertain a value in use. Management are of the view that the building is worth well in excess of this valuation. 15. Flxod a•••t Inv•*tm•nts In¥ostmants In subsldlary compan1•¥ Company Cost or valuatlon Al l April 2024 Al 31 March 2025 N•t book value At 31 March 2025 A131 March 2024 Principal sub$idiarie8 The lollowng was a subsidiary undertaking of the Company.. N•m• Company number Prlnclpal actlvlty Class of shares Holdlng Innovate County Durham Llmited 08764875 Management services. coffee shop and conferencing facilities Ordinary 100% Included in Consolidation Yes Page 28
GLOW CHURCH UK LTD (A company limlted by guarnnteo) 140TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Fixèd asset investments lcontinuedl The financial results of the subsidiary for the year vre= Narn• ProfiLIIL088P N•t a880tg1 I Surplugl ILlablllllo8) (Deficit) for the year Innovate County Durham Limrted 5,713 (23,741) 16. Debtors Group 2025 Gmup 2024 Cofflpany 2025 Company 2024 Due wilhin one year Trade debtors Amounts owed by group undertakings Other debtors Prepayment$ and accrued income 16,862 19,047 3,562 9,100 16,171 1, 124 3.182 8,933 15,010 1, 124 5,854 8,933 14,710 40.805 26,025 27.205 29.577 17. Cr•dltor¥: Amount• f•lllng due wlthln one year Group 2025 Group 2024 Company 2025 Company 2024 Bank loans Other loans Trade ¢reditors Amounts owed to group undertakings Other laxatiOD and social secunty Other creditor5 Accruals and deferred income 43,387 134,478 43,387 147,978 17,667 37,472 134,478 1,635 144 8,056 9,479 16.80B 37,472 147,978 14,371 34,759 9,479 22.082 20, 152 4,170 15.855 6.125 4,170 13,622 245,996 249,209 208,072 223, 738 18. Croditor5: Amounts falling duè aftor more than one year Group 2025 Group 2024 Company 2025 Company 2024 Bank loans 1,147.213 1,190,172 1,122,566 1. 159,611 Page 29
GLOW CHURCH UK LTD (A company limlted by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Credltorn: Amounts falllng duè after rnore than ono ygar Icontlnuedl Group 202S Group 2024 Company 2025 Company 2024 8ank loans and other loans are recorded in short and long term credilors based on the profie of repayment ol the loans. Other loans ffjlales lo a loan from Glow Church Australia, a interest rate ol 0% and a year end value of £134.478. There Is no defined repaymenl temis for the loan and so it is shovffl fully within Short term ¢rediloTs. Included wthin bank loans are the followin9 loans, alongside the appropriate year end balance. interest Tale and expected final repayment date.. A mortgage had been provided by Stewardship with a year end value of £1,148.371, an interest rate of 7.750k and a fi.nal repayment dale of September 2042. A covid l)ounce bank loan had been provided by Barclays with a year end value of £11,667, an interest rate of 2.5•A and a fi'nal repayment dale of May 2026. Within the subsidiary a further Covid Bounce back loan had been provided by Barclays wth a year end Value of £30.562, an interest rale of 2,5PA and a final repayment dale of June 2030. 19. 8ummary ol funds 8ummary ol funds - currnnt year 8•lance It J1 March 2025 B•lancè at 1 Aprll 2024 Trnn•fers Inlout Incom• Exp•nditur• General funds Resln¢led funds 847,548 1,532,312 21,427 11,224,120) 120,401) 1,026 11,026) 1,156,766 847,548 1.553,739 (1.244.521 1,156.766 Page 30
GLOW CHURCH UK LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Summary of funds (continued) Summary of funds - prior year Balance at 31 March 2024 Balance al 1 April 2Q23 Income Expenditure General funds Restricted funds 811,566 1,110,067 (1,074,085) 14,619 (14.619) 847,548 811,566 1. 124,686 {1,088,7Q4) 847, 548 Glow Church- Glow Cares Sensory Spa¢e: Grant income was received lo purchase sensory equipment, with expendilure applied directly to the creation and maintenance of the Sensory Space. The grant excluded VAT and therefore this was covered by Glow Church. W•llbeing Wednesday: Grant funding supported weekly community outreach events, including the Little Slars toddler group, Coffee & Connect sessions, and chair based exercise classes. Expenditure covered food. materials, and facilitation. Household Support: Grant income was used lo provide essential household support to local residents in need, with expenditure directed to supplies and assistance. Llghl Night.. Funding was received for the annual children's communlly event held on 31 October, with expenditure covering evenl decor, craft supplies and costumes. Little Cubs Day Nursery Early Years Pupil Premium: Income was received to provide designaled resources for eligible pupils, with expenditure applied lo largeled educational support. Dlsablllty Acces8 Fund: Income was received to support designated pupils requiring additional access resources, with expendilure directed to speclalisl provision for the named individuals. The transfer in the year relates to restricted funds being spent on capital additions. 20. Analysls of net a$$•ts betw••n funds Analysis of net assets belween funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2,085,418 2,085,418 464,557 464,557 (245.996) (245,996) (1,147,213) (1,147,213) Total 1,156,766 1,156,766 Page 31
GLOW CHURCH UK LTD (A company limited by guardnto0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Analysis of not assets between funds (continued) Analysis of net assets between funds - prior year Unrestricled funds 2024 To¢81 lunds 2024 Tangible fixed assets Current asset5 Creditors due within one year Crédllor$ due in more than one yoar 2,114,086 2. 114,086 172, 843 172, 843 (249,209) f249,209) (1, 190, 172) (1. 190, 772) Total 847, 548 847,548 21. R•conclllatlon of net mov?ffl•ni In funds to n•t ¢a$h flow from opfrratlng actlvltlos Group 2025 Group 2024 Net income for the year (as per Statement of Financial Activits'esl 309.218 35,982 AdJu•tments for: Depreclalion charges Increase in debtors Increase in creditors 38,010 114,7801 10,477 42.809 (10,351) 13,624 Net Cash provlded by operating actlvllles 342,925 82,064 2Z. Analysis of cash and Cash equlval•nl8 Group 2025 Group 2024 Cash in hand 423,752 146.818 Total cash and rA8h equlvalents 423,752 146,818 Page 32
GLOW CHURCH UK LTD {A company Ilmitod by guarant0•1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 23. Analysis of changes in net debt At 1 April 2024 Cash flow8 At 31 March 2025 Cash at bank and In hand Oebt due within 1 year Debt due after 1 year 146.818 1191.3651 (1,190,172) 276.934 13.500 42,959 423,752 (177,865) 11,147,213) 11,234,719) 333.393 {901,326} 24. Penslon commltrnents The group operates a defined contribution pension Scheme. The assets of Ihe scheme arè held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £26,026 (2024 - £12,119). 2S. Related party transacliong Innovate County Durham Limited is a related party based on the enlity being a company b¥holy owned by the charity. During the year. the amounts received from Innovate County Durham Limlled which relate lo Glow Church UK Ltd total £100.00012024'. £36.5001. Al the year end the charity owed £144 {2024'. was owed £16,171) from Innovate County Durham Llmited. Al the year end. the charity owed £134,47812024'. £147,978) to Glow Church Australia. a member of the Gl¢)w Church community. This amount is interest free and repayable on demand. Page 33