## **Report & Financial Statements** 

For the year ended 31 December 2024 

**Company Registration No. 00193144 Charity Registration No. 1164474** 



**CROSSLINKS** _**Company No: 00193144**_ 

**Contents** 

- **Charity information: page 2** 

   - **: page 3-8** 

- **Independent : Page 9-11** 

- **Statement of financial activities: page 12** 

- **Balance sheet: page 13** 

- **Statement of cash flows: page 14** 

- **Notes to the financial statements: page 15-26** 

## **Acknowledgements: page 27** 

1 



**CROSSLINKS** _**Company No: 00193144**_ **Charity information** 

**Company No.:** 00193144 **Registered Charity No:** 1164474 **Principal address** 251 Lewisham Way, London SE4 1XF **President** Mr. David Mills MBE **Mission Director** Mr John McLernon **Trustees** Rev. Timothy Houghton Chair Rev. Nick Jones Ms.   Deborah Kelly Mr.   James Steer Mrs.  Victoria Widdows Rt Rev. Roderick C.H. Thomas Mr.   Greg Obong Oshotse (Appointed 14[th] March 2024) Ms.   Kate Randle (Appointed 14[th] March 2024) Rev. Joel Edwards (Appointed 2[nd] July 2024) Mr.   Mark Walkington Mr.   Nick Winther Treasurer **General Synod** Mr.   Gabriel Chiu General Synod Representative Co-opted 

**The Mission Director and General Synod representative are non-voting members of the Board of Trustees. Other senior staff present by invitation.** 

**Bankers** Lloyds Bank Plc, 25 Gresham Street, London, EC2V 7HN Danske Bank, Donegall Square North, Belfast. Northern Ireland Allied Irish Bank, 40-42 Ranelagh, Dublin 6. Republic of Ireland **Independent Auditor** Forvis Mazars LLP, 2[ND] Floor, 6 Sutton Plaza, Sutton Court Road, Sutton, Surrey SM1 4FS **Solicitors** Lewis & Dick, 443 Kingston Road Ewell, Surrey KT19 0DG **Investment Manager** RBC Brewin Dolphin Securities Limited, 12 Smithfield Street, London EC1A 9BD 

2 



**CROSSLINKS** _**Company No: 00193144**_ **for the year ended 31 December 2024** 

The Trustees present their report and financial statements for the year ended 31 December 2024. 

## **Structure, governance and management** 

Crosslinks is a company limited by guarantee (No. 00193144) which was incorporated on 18 October 1923 and registered as a charity on 19 November 2015 with charity registration number 1164474. The historic role of Crosslinks was as bare trustee. 

Any individual can become a member of Crosslinks, if prepared to sign his or her agreement with the basis of the Society, and to signify support for Crosslinks by prayer and gifts for at least a year.  The number of members at December 2024 was 913 (2023: 790), with an unquantified number of other individual supporters. 

A maximum of 13 individuals makes up the Board of Trustees, of whom 8 are elected on a 5-year cycle by members of Crosslinks prior to the Annual General Meeting normally held in June.  Trustees can be elected for up to two periods of 5 years, after which there must be a gap of at least one year before being eligible to stand again for election. Profiles of members standing for election are sent to all members prior to the Annual General Meeting.  The Board of Trustees may co-opt up to four members in addition to the eight elected members and care is taken to ensure there is a balance of skills and representation on the Board of trustees. 

During the year various aspects of the activities of Crosslinks are presented to the Board of Trustees so they gain a more in-depth appreciation of the work done by the society.  The Board of Trustees normally meets five times a year. 

The Board of Trustees is responsible for the strategy and direction of Crosslinks, guarding its doctrinal position in the Christian world and monitoring performance on a regular basis, under the spiritual leadership of the Mission Director. The Mission Director (MD), with the assistance of the staff, is responsible for the day to day running within the policies set by the Board of Trustees. 

## **Selection and Induction of Trustees** 

To be a trustee of Crosslinks, members are nominated by five current members (one of whom must be a trustee) and must sign the Basis of the Society. If there are more candidates standing than vacancies on the Board of Trustees an election is held, with all current voting members entitled to vote. New Trustees are announced at the Annual General Meeting. Once a Trustee is elected, they are introduced at the first Board of Trustees meeting and provided with the necessary background papers and briefings. 

## **Responsibilities of the trustees** 

Charity law requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of Crosslinks and of its income and expenditure for the financial year.  In preparing financial statements the Trustees are required to: 

- select suitable accounting policies and then apply them consistently. 

- observe the principles and methods of the Charities SORP. 

- make judgments and estimates that are reasonable and prudent. 

- prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation. 

- - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts. 

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

The trustees set the remuneration of the Senior Leadership Team and decide any cost-of-living increase to be granted to the whole of the UK staff on an annual basis each November. 

Each trustee, as at the date of this report, has confirmed that insofar as they are aware there is no relevant information (that is information needed by auditors are unaware and they have taken the reasonable steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit informat of that information. 

## **Public benefit** 

The Trustees have complied with their duty as per the Charities Act 2011 to have due regard to Public Benefit guidance published by the Charity Commission. 

The Society advances religion for the public benefit by serving churches and individuals in the proclamation of the good news of the Christian gospel, in Britain, Ireland and around the world. We believe it is of eternal benefit to all people to have the opportunity to hear and respond to the invitation of salvation from our loving God. 

3 



**CROSSLINKS** _**Company No: 00193144**_ 

**24 (continued)** 

The ways in which the Society seeks to serve churches and individuals in this endeavour are: 

- Long-term through mission partners, associate mission partners and associate church planters. 

- Short-term through team and individual placements, camps in Ireland and through the schools of biblical training. 

- Through partnership with locally proposed mission projects and our bursary programme enabling the training of local pastors. 

In each of these three areas there are clear ways in which each seeks to proclaim the good news of the Christian gospel through the lens of our two fundamental priorities of evangelistic (i.e. gospel) opportunities and training trainers. 

## **Fundraising Policy** 

Crosslinks sees itself as a voluntary society of members, who make up the membership of the limited Company. 

Crosslinks does not therefore raise funds direct from the public, but receives all of its income from members, individual supporters, churches, trusts, and it also receives legacies from past supporters and members. 

Requests for financial support are made to the above groups, on the basis that they have already expressed an interest in the work of Crosslinks. Crosslinks does not contract with any third party for any fundraising activity. Crosslinks is registered with the Fundraising Regulator as well as the Fundraising Preference Service. 

Any requests for support are carefully vetted by the Crosslinks team leadership, so that no undue pressure is put on 

## **Reserves policy** 

Crosslinks should hold a level of free reserves (being total unrestricted funds excluding tangible fixed assets and £ 1,694,182. Free reserves at 31 December 2024 were £626,175 which is 37% (or four months) of stated policy level. Trustees regularly review the steps required to achieve the amounts required in reserves policy, whether by sale of surplus tangible assets or review of current and future activities of the Society. 

## **Investment policy** 

The historic assets of Crosslinks have been used to hold properties for the accommodation of senior staff, and for the two offices in London and Belfast, from which the Society world. In addition, the resources of Crosslinks have also been held to provide working capital to meet the demands of the ministry throughout the year, but also to meet the current long-term s (See note 13). 

Surplus resources not needed for these requirements have been invested, and the trustees have delegated the dayto-day management of this general investment portfolio to Brewin Dolphin Securities Ltd (See page 2). 

Brewin Dolphin has the authority and discretion to make investment decisions within the stated objectives of capital growth, a long-term time horizon of at least 10 years, and with a risk category commensurate with this capital growth objective. The Treasurer and Finance Director are in regular communication with Brewin Dolphin to monitor performance. 

At the year end the portfolio held 76.4% equities, split between UK and international equities, 16.3% in fixed income, and 7.3% in cash 

## **Risk management** 

The Trustees have a risk management strategy which comprises: 

- An annual review of the risks Crosslinks may face. 

- The establishment of systems and procedures to mitigate those risks identified in a risk register. 

- The implementation of procedures designed to minimise any potential impact on Crosslinks should these risks materialise. 

The trustees aim to review risk under the following 8 headings: 

- 1) Governance risks, associated with the lack of strategic direction or distinctive ethos. 

- 2) External risks 

- 3) Personnel risks Team leaders with the loss of key personnel in the UK or overseas. 

- 4) Personnel risks other staff. 

- 5) Mission Partnership Team risks. 

- 6) Mission Personnel Team risks, associated with all the means of mission deployed globally. 

- 7) Financial risks, linked to the long-term support of this work. 

- 8) Operational risks, associated with threats to the two UK offices in London and Belfast, including IT threats. 

4 



**CROSSLINKS** _**Company No: 00193144**_ **the year ended 31 December 2024 (continued)** 

## **2024 Mission Activities** 

Crosslinks is currently working on 5 continents, and across all our means of mission as can be seen by the tables below. 



**----- Start of picture text -----**<br>
The Americas Europe Africa Asia & Australia<br>Long Term  Long Term  Long Term  Long Term<br>Programmes Programmes Programmes Programmes<br>Mission Partners     04        Mission Partners      53       Mission Partners   17         Mission Partners    02<br>MP Projects       02 MP Projects        14 MP Projects     06 MP Projects       -<br>Assoc. MPs               - Assoc. MPs              04 Assoc. MPs             06 Assoc. MPs            06<br>AMP Projects         - AMP Projects       01   AMP Projects       01 AMP Projects        -<br>Short term  Short term  Short term  Short term<br>Programmes Programmes Programmes Programmes<br>Individuals     02 Individuals      05 Individuals      03 Individuals     01<br>SBT                     - SBT                     - SBT                     - SBT                    -<br>Teams        - Teams        - Teams       09 Teams      -<br>Indigenous Indigenous Indigenous Indigenous<br>Projects     03 Projects      05 Projects      11 Projects     03<br>Study Partners    04 Study Partners     08 Study Partners     94 Study Partners    06<br>**----- End of picture text -----**<br>


## **2023 Mission Activities** 


**----- Start of picture text -----**<br>
The Americas Europe Africa Asia & Australia<br>   Total                     14 Total                        73      Total                       127 Total                      19<br>**----- End of picture text -----**<br>


5 



**the year ended 31 December 2024 (continued)** 

## **CROSSLINKS** _**Company No: 00193144**_ 

## **Finance Overview** 

In 2024 Crosslinks operated in 5 continents across the globe, taking in Europe, Asia & Australasia, Africa, and The Americas. During the year we have been encouraged by the support of our Members, Churches, Trusts, individuals, and the legacies that we have received. This year Crosslinks received £ 3,784,543 against expenditure of £ 3,885,482, an operating deficit of £ 100,939 operating activities. 


**----- Start of picture text -----**<br>
Other Income<br>Legacies £0.04m<br>£0.25m 1.1%<br>6.6%<br>Trust Donations<br>£0.32m<br>8.6%<br>2024 Income £3.78m<br>Personal Donations £2.09m (55.3%)<br>Church donations £1.08m (28.5%)<br>Personal Donations  Trust Donations £0.32m (8.6%)<br>Church Donations<br>£2.09m<br>£1.08m 55.3% Legacies £0.25m (6.6%)<br>28.5%<br>Others £0.04m (1.1%)<br>**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
Cost of raising funds<br>£0.11m £0.14m<br>2.9% 3.7%<br>Building Partnerships<br>£0.49m<br>12.6%<br>Projects & Grants<br>£0.27m<br>7.0%<br>Short Term<br>£0.13m<br>3.5% Mission Partners and Associates<br>£2.73m<br>70.3%<br>**----- End of picture text -----**<br>


## **2024 Expenditure £3.89m** 

**Mission Partners and Associates £2.73m (70.3%) Short Term Programmes £0.13m (3.5%) Projects & Grants £0.27m (7.0%) Building Partnerships £0.49m (12.6%) Cost of raising funds £0.11m (2.9%)** 







6 



**CROSSLINKS** _**Company No: 00193144**_ **T for the year ended 31 December 2024 (continued)** 

## **Financial review** 

Income totalled £ 3,784,543 which was £ 237,124 higher than 2023 (£ 3,547,419), an increase of 6.68% on 2023. 

Donations from individuals relating to continuing support amounted to £ 2,091,034 an increase of £ 135,572 on 2023 (£ 1,955,462). Donations from churches of £ 1,079,869 showed an increase of £ 15,564 on 2023 (£ 1,064,305). 

Legacies received in the year amounted to £ 248,857 (2023: £ 201,563), which is £ 47,294 higher. 

Trust Income received in the year amounted to £ 324,518 (2023: £ 292,324), which is £ 32,194 higher. 

Expenditure amounted to £ 3,885,482 which was £ 187,082 higher than last year (2023: £ 3,698,400), an increase of 5.06%. 

During the year our investments, held for the provision of historical pensions, gained £ 32,917 (2023: £ 24,411 gain). 

The net deficit before actuarial gain/(loss) on pensions and assets revaluation was £ 68,022 compared to net deficit of £ 126,570 in 2023. We are grateful for the continuing support of our members, Churches, Trusts, and individuals to Crosslinks. 

The value of the investment portfolios increased by 9.0% in 2024 (2023: 7.27% increase) compared to an increase of 9.7% for the FTSE 100 (2023: 3.8% increase).  The value of the portfolio at 31 December 2024 was £ 466,198 (2023: £ 427,698). This increase is a gain of £ 38,500 before costs and retained income. 

Cash of £ 452,152 at 31 December 2024 held in bank accounts to meet Crosslinks day to day expenditure (2023: £ 1,195,782 that included the temporary holding of net proceeds from the Sale of a Bartlett Trust Property of £662,189 and the balance of £533,593 held in bank accounts to meet Crosslinks day to day expenditure). 

Crosslinks also owns property for its own use as offices or accommodation for its staff. The value of the property portfolio at 31 December 2024: £ 2,923,000 (2023: £ 3,090,600). This is shown under the heading of Tangible Fixed Assets in the Balance Sheet. 

The Investments and Tangible Fixed Assets together more than cover the Long-Term Unfunded Pension liability of £ 490,000 as at 31 December 2024 (2023: £ 555,000). 

The cash resources and working capital position at the balance sheet date reflect the benefit of commitments by our supporters to meet their obligations and promises year by year. 

Crosslinks has a usable surplus in its Church of England Defined Contribution Scheme of £ nil (2023: £127,000). 

The actuarial valuation of the Crosslinks unfunded pension scheme liability has decreased by £ 65,000 (2023: £ 6,000 decrease) and now stands at £ 490,000 (2023: £ 555,000). 

All current and future Mission Partners and UK Staff are now invited to join the Church of England Defined Contribution Scheme (called Pension Builder Classic). This scheme is auto enrolment compliant. Employer contributions are calculated on the basis of 20% of Church of England National Minimum Stipend for Mission Partners and 20% of salary for UK Staff. 

As a result of the above, the financial statements show a net reserves position, after provision in full for the future fiscal impact of pension liabilities, of £ 3,533,178 (2023: £ 3,758,950). 

Against this background, the Trustees remain hugely grateful to God for the continuing support of churches, Individuals and Trusts, 

## **Going Concern** 

The Trustees continue to monitor the issues that affect both the short- and long-term viability of the Society to ensure that it remains a going concern. 

Our careful budgeting and monitoring process ensures that all Mission Partners are fully funded and three-year projections provide early warning of any corrective action that is needed. Other mission activities are committed to, only based on funds that have been received or promised and with no financial liability to the Society. 

There are sufficient funds from projected income and cash reserves, if necessary, to cover the budgeted central operating costs of running the Society for at least the next three years. 

7 



**CROSSLINKS** _**Company No: 00193144**_ 

**4 (continued)** 

## **Review of activity and future plans** 

. We promote and enable 

engagement by: 

- Proclaiming the gospel of the Lord Jesus Christ in order to make disciple-making disciples of Jesus. Training and equipping pastor/teachers and evangelists who will proclaim the gospel of the Lord Jesus Christ in order to make disciple-making disciples of Jesus. 

At the end of 2024 there were 92 Mission personnel serving with Crosslinks in 26 countries. The Senior Leadership team support them through personal visits, online meetings and conferences. In early January 2025 Crosslinks ran a residential conference in Kenya for Africa Mission Partners and their families, providing spiritual refreshment, encouragement, and fellowship. In all, 56 attended. 

Despite the challenges of the past few years, new mission personnel continued to be selected, prepared, and placed overseas. The Mission activities of the Society are summarised geographically on page 5 of these statements. During the year 0 AMPs retired, and 4 MPs resigned at the end of their deployments. 6 MPs were placed around the world. 

112 Study Partners from 24 countries, who are actively engaged in theological and ministry courses in 31 different colleges in 18 countries. 

The Office Team in London and Belfast are equipped to work flexibility. This year we further supported that work adaptability by migrating to cloud-based systems and storage. Staff and Trustees met in November 2024 for a conference. One of the conference aims was to share further developments on the strategic priorities set in our Centenary year 2022. 

During 2024 Kate Randle, Greg Obong Oshotse and Joel Edwards joined as Trustees. 

The trustees are grateful for the progress that continues to be made by Crosslinks mission personnel and projects, 

Our prayer is that these efforts, by the grace of God, will result in disciple making disciples across the entire world. 

## **Auditors** 

A resolution will be proposed at the Annual General Meeting that Forvis Mazars LLP be appointed as auditors to Crosslinks. 

BY ORDER OF THE BOARD 


Rev. Tim Houghton Trustee 

## 20/06/2025 

8 



**CROSSLINKS** _**Company No: 00193144**_ 

## **Crosslinks** 

## **Opinion** 

2024 which 

comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS Accepted Accounting Practice). 

In our opinion, the financial statements: 

- 2024 and of its income and 

expenditure for the year then ended. 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern.** 

accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trus 

of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

legal requirements. 

9 



**CROSSLINKS** _**Company No: 00193144**_ 

## **Matters on which we are required to report by exception.** 

In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

   - ; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of Trustees** 

the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud o Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of Crosslinks and its activities, we identified that the principal risks of noncompliance with laws and regulations related to the Charities Act 2011, UK tax legislation, pensions legislation, employment regulation and health and safety regulation, anti-bribery, corruption and fraud, money laundering, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and the Charities Statement of Recommended Practice. 

financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to use of restricted and endowment funds, and significant one-off or unusual transactions. 

10 



**CROSSLINKS** _**Company No: 00193144**_ 

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to: 

- Discussing with the trustees and management their policies and procedures regarding compliance with laws and regulations. 

- Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and 

- Considering the risk of acts by the charity which were contrary to applicable laws and regulations, including fraud. 

- Our audit procedures in relation to fraud included but were not limited to: 

- Making enquiries of the trustees and management on whether they had knowledge of any actual, suspected, or alleged fraud. 

- Gaining an understanding of the internal controls established to mitigate risks related to fraud. 

- Discussing amongst the engagement team the risks of fraud; and 

- Addressing the risks of fraud through management override of controls by performing journal entry testing. 

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial www.frc.org.uk/auditorsresponsibilities. This report. 

## **Use of the audit report** 

Companies Act 2006. Our audit work has been undertaken so that we might s 

by law, we do not accept or assume responsibility to anyone other than the charity and the charity body for our audit work, for this report, or for the opinions we have formed. 

Signed: 

## Nicola Wakefield 

(Senior Statutory Auditor) 

for and on behalf of Forvis Mazars LLP 

Chartered Accountants and Statutory Auditor 

6 Sutton Plaza, Sutton Court Road, Sutton, Surrey, SM1 4FS 

## Date: 20/06/2025 

11 



**CROSSLINKS** _**Company No: 00193144**_ **Statement of financial activities for the year ended 31 December 2024** 

|**Notes**<br>**Unrestricted**<br>**£**<br>**Income**<br>Donations and legacies<br>**2**<br>3,311,203<br>Investment income<br>**3**<br>11,960<br>Other income<br>26,949<br>**Total Income**<br>3,350,112<br> <br> <br>**Expenditure**<br>Cost of Raising Funds<br>**4**<br>114,148<br>Charitable activities<br>**5**<br>3,274,214<br>**Total Expenditure**<br>3,388,362<br>Operating (Deficit)<br>(38,250)<br>Net gains on investments<br>**10**<br>25,504<br>**Transfers**<br>Transfers between funds<br>(63,531)<br>**Net Movement in funds after transfers**<br>(76,277)<br>Revaluation of Property Asset<br>**9**<br>(167,600)<br>Gain on defined benefit pension<br>scheme<br>**13**<br>-<br>Gain(loss) on unfunded pension<br>scheme<br>**13**<br>9,850<br>**Net Movement of funds**<br>(234,027)<br>**Reconciliation of funds**<br>Total funds brought forward<br>**14, 15**<br>3,360,200<br>Total funds carried forward<br>**14, 15**<br>3,126,173|**Restricted**<br>**£**<br>433,075<br>1,356<br>-<br>434,431<br> <br>-<br>497,120<br>497,120<br>(62,689)<br>7,413<br>63,531<br>8,255<br>-<br>-<br>-<br>8,255<br>398,750<br>407,005|**2024**<br>**Total**<br>**£**<br>3,744,278<br>13,316<br>26,949<br>3,784,543<br> <br>114,148<br>3,771,334<br>3,885,482<br>(100,939)<br>32,917<br>-<br>(68,022)<br>(167,600)<br>-<br>9,850<br>(225,772)<br>3,758,950<br>3,533,178|**2023**<br>**Total**<br>**£**<br>3,513,654<br>11,695<br>22,070|
|---|---|---|---|
||||3,547,419|
||||118,843<br>3,579,557|
||||3,698,400|
||||(150,981)<br>24,411<br>-|
||||(126,570)<br>127,151<br>127,000<br>(54,004)|
||||73,577<br>3,685,373|
||||3,758,950|



The charity statement of financial activities includes all recognised gains or losses in the year 

12 



**CROSSLINKS** _**Company No.: 00193144**_ **Balance sheet at 31 December 2024** 

|**Notes**<br>**Fixed assets**<br>Tangible fixed assets<br>**9**<br>Investments<br>**10**<br>**Current assets**<br>Debtors<br>**11**<br>Cash at bank & in hand<br>**20**<br>Creditors: Amounts falling due within one year<br>**12**<br> <br>**Net current assets or liabilities**<br>Net asset or liabilities excluding pension asset or<br>liability<br>Provision for Unfunded Pension<br>**13**<br>Usable surplus for C of E Scheme<br>**13**<br>**Total net assets or liabilities**<br>**Funds**<br>Restricted<br>**14**<br>Unrestricted<br>**15**|**£**<br>2,930,805<br>466,198<br>277,425<br>452,152<br>729,577<br>(103,402)<br> <br>|**2024**<br>**£**<br>3,397,003<br> <br>626,175<br>4,023,178<br>(490,000)<br>-<br>3,533,178<br>407, 005<br>3,126,173<br>3,533,178|**£**<br>3,100,492<br>427,698<br>267,715<br>1,195,782<br>1,463,497<br>(804,737)<br> <br>|**2023**<br>**£**<br>3,528,190<br>658,760|
|---|---|---|---|---|
|||||4,186,950<br>(555,000)<br>127,000|
|||||3,758,950|
|||||398,750<br>3,360,200|
|||||3,758,950|



Approved by the Trustees on 18[th] June 2025 and signed on their behalf by: 



Mr N. Winther Treasurer 


Rev. T. Houghton Chair 

13 



**CROSSLINKS** _**Company No.: 00193144**_ **Statement of cash flows for the year ended 31 December 2024** 

|**Notes**<br>**Net cash (outflow)/inflow from**<br>**operating activities**<br>**19**<br>**Returns on investments and servicing of**<br>**finance**<br>Investment Income<br>Net cash inflow from returns on investments &<br>servicing of finance<br>**Capital expenditure & financial**<br>**investment**<br>Disposal of investments<br> <br>Movement in Cash<br>Purchase of fixed assets<br>Purchase of investments<br>Cash outflow for capital expenditure &<br>financial investment<br>**(Decrease)/ Increase in cash**<br>**20**|**£**<br> <br>13,316<br>74,971<br>157<br>(1,973)<br>(80,711)|**2024**<br>**£**<br>**(749,390)**<br>13,316<br> <br>(7,556)<br>**(743,630)**|**£**<br> <br>11,695<br>47,043<br>10,842<br>(7,963)<br>(62,469)|**2023**<br>**£**<br>**967,940**|
|---|---|---|---|---|
|||||11,695<br>(12,547)|
|||||**967,088**|



14 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024** 

**1** Crosslinks is a charitable company registered in England and Wales (Co. No. 00193144) and with the charity commission (Charity No. 1164474). The registered address is 251 Lewisham way, London SE4 1XF. 

## **1.1 Accounting policies** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial Statement are as follows: 

## **1.2 Basis of accounting** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January, 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. 

Crosslinks meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. 

## **1.3 Going Concern** 

The trustees have prepared the financial statement on a going concern basis. The trustees have carefully considered the budgets for the 12 months from the date of signing. The trustees believe that Crosslinks has sufficient funds to meet their liabilities as they fall due. 

## **1.4 Income** 

Income is recognised when the charity has entitlement to the funds, and it is probable that the funds will be received, and the amount can be measured and is not deferred. Interest receivable is dealt with on an basis. Investment income is dealt with on an basis. 

## **1.5 Fund accounting** 

All funds received by Crosslinks are applied to the support of direct or indirect mission costs in accordance with the objects of the charity. Where applicable, tax is recovered under the Gift Aid scheme. 

As a prerequisite of deploying mission partners, we seek funding partnerships to support an initial 3 years of living expenses and other costs of mission including central administration. All funds received are managed in the name of the individual Mission Partners or other means of mission but are held collectively within general unrestricted funds for the benefit of all mission in process at any one time. 

## **Unrestricted funds** 

## **Restricted funds** 

These are funds which can only be used for restricted purposes within the objects of the charity.  Restrictions may arise when specified by the donor or when funds are raised for restricted purposes. 

## **1.6** 

## **Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be reliably measured. Cost of raising funds - This comprises all costs incurred in attracting voluntary income. Costs of charitable activities - This comprises all costs directly related to the objects of Crosslinks. 

## **1.7** 

## **Depreciation** 

Material individual fixed assets are capitalised at cost.  Depreciation is calculated to write off the cost of fixed assets in use at the balance sheet date on the basis described in note 9. 

Depreciation and surpluses or losses on the disposal of fixed assets used for charitable purposes are reflected in the Statement of Financial Activities before stating net income before transfers.  The charity adopts a policy of revaluation for its properties.  Further detail is provided in note 9. 

15 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (Continued)** 

## **1 Accounting policies** (continued) 

## **1.8 Pension contributions** 

The Society makes use of a defined contribution scheme administered by the Church of England Pensions Board. Contributions payable to the pension schemes are charged to the Statement of Financial Activities to spread the cost of pensions over the service lives of employees in the pension scheme. Mission Partners and UK staff who are ordained are members of the Church of England Clergy Pension scheme for whom Crosslinks makes no contributions. See note 13 for further information. The Society also provides unfunded pensions for some former Mission Partners and UK staff (see note 13). 

## **1.9 Branch offices** 

The results for the office in Ireland have been incorporated into these financial statements. 

## **1.10 Investments** 

Investments are stated at market value on the last day of business in the accounting period. Gains and losses on the disposal of investments together with unrealised gains or losses on the annual revaluation are disclosed in aggregate in the Statement of Financial Activities. 

## **1.11 Operating leases** 

Rentals applicable to operating leases where all the benefits and risks of ownership remain substantially with the lessor are charged to the Statement of Financial Activities as incurred over the term of the lease. 

## **1.12 Foreign currencies** 

Transactions in foreign currencies are translated at the rates prevailing at the date of the transaction.  Balances denominated in foreign currency are translated at the rate of exchange prevailing at the year end. 

## **1.13    Critical Accounting Judgements and Estimation Uncertainty** 

The directors evaluate estimates and judgements incorporated into the financial statements.  Estimates are based on historical information, assume a reasonable expectation of future events, and are based on current trends and economic data, obtained both externally and within the charity: 

## **Property Valuations** 

Property is disclosed at fair value at the date of the financial statements. We rely on external RICS valuations for 2024. The trustees have reviewed the valuations and consider them to be the fair value of the properties at the year-end. 

## **Pension liabilities** 

The pension liability is held at the valuation performed at the year-end by external actuaries and the trustees consider this to be a reasonable estimate of the pension liabilities. 

## **1.14    Admin Costs (Note 7)** 

The admin costs are calculated by removing the costs which relates to the cost of raising funds (Note 4), building partnerships (Note 5), and central support fees from total expenditure of the four UK teams. 

## **2 Donations & legacies** 

|**Unrestricted**<br>**Restricted**<br> <br> <br>**£**<br>**£**<br>Donations from Individuals<br>1,850,418<br>240,616<br>Donations from Churches<br>974,325<br>105,544<br>Legacies<br>248,857<br>-<br>Donations from Trusts<br>237,603<br>86,915<br>3,311,203<br>433,075|**2024**<br> <br>**Total**<br> <br>**£**<br>2,091,034<br>1,079,869<br>248,857<br>324,518<br>3,744,278|**2023**<br>**Total**<br>**£**<br>1,955,462<br>1,064,305<br>201,563<br>292,324|
|---|---|---|
|||3,513,654|



16 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (Continued)** 

|**3**<br>**Investment Income**<br>**Unrestricted**<br>**Restricted**<br>**£**<br>**£**<br>Rental income<br>-<br>-<br>Interest Received<br>3,364<br>-<br>UK Stock Exchange dividends<br>8,596<br>1,356<br>11,960<br>1,356<br>**4**<br>**Costs of raising funds**<br>**Mission**<br>**Partnership**<br>**Team**<br>**Ireland**<br> <br> <br>**£**<br>**£**<br>Salaries and pension<br>60,981<br>30,888<br>Mission Travel<br>4,622<br>635<br>Magazines & literature<br>15,520<br>-<br>Other costs<br>45<br>1,457<br>81,168<br>32,980|**2024**<br>**Total**<br>**£**<br>-<br>3,364<br>9,952<br>13,316<br>**2024**<br> <br>**Total**<br> <br>**£**<br>91,869<br>5,257<br>15,520<br>1,502<br>114,148|**2023**<br>**Total**<br>**£**<br>-<br>2,889<br>8,806|
|---|---|---|
|||11,695|
|||**2023**<br>**Total**<br>**£**<br>94,858<br>4,952<br>16,626<br>2,407|
|||118,843|



The above costs are an estimate of the contribution the Mission Partnerships team and the Ireland team 

**5         Charitable activities** 

|**haritable activities**|||
|---|---|---|
|**Direct costs**<br>**Admin costs**<br>**(Note 7)**<br> <br> <br>**£**<br>**£**<br>Mission Partners and Associates<br>2,505,933<br>225,534<br>Short-term programmes (Teams &<br>Individuals), camps<br>123,276<br>11,095<br>Projects and grants (**Note 6**)<br>248,710<br>22,384<br>131,450<br>11,831<br>Building Partnerships<br>450,570<br>40,551<br>3,459,939<br>311,395|**2024**<br>**Total**<br> <br>**£**<br>2,731,467<br>134,371<br>271,094<br>143,281<br>491,121<br>3,771,334|**2023**<br>**Total**<br>**£**<br>2,541,670<br>102,852<br>236,462<br>123,879<br>574,694|
|||3,579,557|



The building partnership line above is an estimate of the cost incurred by each team enabling the above charitable activities and is a percentage of team costs. 

## **6 Projects & Grants** 

|**Permanent Projects**||**£**|
|---|---|---|
|France/Belgium/Germany|Inter-Action|15,596|
|Ethiopia|Nekemte school for the deaf|18,583|
|India|Education for Liberation|7,045|
|Uganda|Karamoja|11,875|
|Cuba|Predica Fiel|4,097|
|Artic|Arctic Diocese|109|



**57,305** 

17 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

## **Projects & Grants** 

|**Projects & Grants**|**Projects & Grants**|**Projects & Grants**|||
|---|---|---|---|---|
|**Crosslinks Indigenous Projects (Grants)**||||**£**|
|India|North India Bible Training|||45,075|
|Kenya||||35,018|
|Serbia|Project Timothy|||18,629|
|Kenya|Gracepoint||Youth Worker|16,634|
|Latvia|Pardaugava Reformed Church|||14,524|
|Kenya|Marsabit Youth Worker|||11,550|
|Nepal|Kantipur Church|||9,043|
|Cuba|Ceron, Cristobal|||7,176|
|Ethiopia|Indigenous Evangelism and Renewal|||7,109|
|South Africa|Christ Central Soweto|||6,103|
|Belgium|GBU Worker - Belgium|||5,005|
|UK|Ministry Fund|||5,003|
|Egypt|Diocese of Egypt|||3,160|
|Nigeria|Namata, Habibu|||2,503|
|Nigeria|Chanta, Ezekiel|||2,212|
|Nigeria|Ayuba Ashiru|||2,211|
|||||**________**|
|||||**190,955**|
||||Grants of £1,000 or less|**450**|
|||||**________**|
|||||**191,405**|
|||||**________**|
||||**Total Project & Grants**|**248,710**|
|**Other Project Activities**|||||
|(In addition to the support of Mission Partners|||and Associate Mission Partners, the following|payments were|
|made in 2024 for project activities listed below, all covered by designated income.|||||
|**Associate Mission Partners Projects**||||**£**|
|South Africa|Buchanan, Hope Church|||36,790|
|||||_______|
|||||**36,790**|
|**Mission Partners Projects**||||**£**|
|Ukraine|Innes<br> Ukraine Response|||8,597|
|Italy|Oden Gospel Worker|||13,931|
|Portugal|Clarke, Comundade de Graca|||9,246|
|Italy|Aranzulla, Project Fund|||8,433|
|Nepal|Watkinson, SBT Support Fund|||1,731|
|Uganda|Howles, UMS Building|||6,283|
|Kenya|Mwangi||Youth Workers Training|4,188|
|Argentina|Walkers Francisco & Ely Aguirre|||112|
|South Africa||||695|
|||||**________**|
|||||**53,216**|
|**BEST**||||**£**|
|South Africa|Tomalin, Adam|||15,618|
|Kenya|Mogita, Abel Moriasi|||6,008|
|Kenya|Kahane, Alex Muiruri|||4,070|
|Uganda|Egati Eric|||3,581|
|Uganda|Cwinyaai Walter|||3,468|
|Kenya|Munyoroku, Henry|||3,409|
|Tanzania|Katunzi Grayson|||2,964|
|Nigeria|Jos Evangelical Theological|||2,785|



## **6.1 Other Project Activities** 

18 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

|**Projects & Grants**<br>**BEST**<br>Zambia<br>Moono, Bright<br>Argentina<br>Perez, Gibbons, Gaston<br>Zambia<br>Chilufya, Joseph<br>Argentina<br>Fernandez, Maria Emilia<br>Uganda<br>Ntambi Derrick<br>South Africa<br>Nkosi, Bonginkosi<br>Tanzania<br>Elphace, Raymond<br>South Sudan<br>Nguale, Marko Weya<br>Chile<br>Yulan, Belen Soledad<br>Chile<br>Gonzalez, Luis Gomez<br>Zambia<br>Mulenga, Ernest<br>Ghana<br>Abosi, Joseph<br>Kenya<br>Odhiambo, Erick Otieno<br>Kenya<br>Atsali, Samuel<br>Kenya<br>Opiyo, Evans<br>Kenya<br>Owade, Mary Adhiambo<br>Tanzania<br>Philipo, David<br>Togo<br>Amou, Koffi<br>Uganda<br>BUILD North Karamoja students<br>Serbia<br>Jovetic, Radomir<br>Tanzania<br>Chihamba, Faraja<br>South Africa<br>Maseko, Banele<br>Belgium<br>Arnaud, Toni<br>South Africa<br>Mangwira John<br>Ethiopia<br>Senbeto, Fekede Gemechu<br>Kenya<br>Bulyaar, George Thogula<br>**Others**<br>Payments of £1,000 or less<br>**Administration costs allocation**<br>**Mission**<br>**Personnel**<br>**Team**<br>**The Hub**<br>**Mission**<br>**Partnership**<br>**Team**<br>**£**<br>**£**<br>**£**<br>Salaries and pensions<br>265,776<br>252,703<br>152,454<br>Office expenses & other costs<br>5,537<br>218,639<br>11,584<br>Governance Costs<br>-<br>41,537<br>-<br>Communication costs<br>-<br>-<br>50,981<br>**Total Expenditure by Teams**<br>271,313<br>512,879<br>215,019<br>Less: Costs of raising funds<br>(Note 4)<br>-<br>-<br>(81,170)<br>Less: Costs relating to Building<br>Partnerships<br>(196,449)<br>(98,223)<br>(108,047)<br>Less: Central Support Fees<br>-<br>(249,658)<br>-<br>Total Administration Costs<br>74,864<br>164,998<br>25,802|**Ireland**<br>**Team**<br>**£**<br>154,438<br>12,246<br>-<br>427<br>167,111<br>(32,978)<br>(88,402)<br>-<br>45,731|**2024**<br>**Admin**<br>**Costs**<br>**£**<br>825,371<br>248,006<br>41,537<br>51,408<br>1,166,322<br>(114,148)<br>(491,121)<br>(249,658)<br>311,395||2,778<br>2,730<br>2,701<br>2,644<br>2,630<br>2,613<br>2,541<br>2,541<br>2,500<br>2,500<br>2,441<br>2,399<br>2,235<br>2,091<br>1,643<br>1,612<br>1,527<br>1,483<br>1,332<br>1,311<br>1,294<br>1,287<br>1,178<br>1,141<br>1,108<br>1,015<br>________<br>**93,178**<br>**25,468**<br>**________**<br>**208,652**|
|---|---|---|---|---|



## **7        Administration costs allocation** 

The total expenditure of the four UK teams is shown above. The administration costs are calculated by removing the costs which relate to the cost of raising funds (Note 4) and building partnerships (Note 5). No trustees were remunerated during the year (2023: None) for their services as trustees. 

Audit Fees for 2024 were £ 19,845 plus VAT (2023: £ 18,900 plus VAT). 

19 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

## **8        Staff costs** 

|**aff costs**|||||
|---|---|---|---|---|
|||**2024**||**2023**|
|||**£**||**£**|
|Salaries||655,364||681,972|
|Social security costs||65,176||67,030|
|Pension contributions (C of E)||104,831||110,779|
|||825,371||859,781|
|**Staff numbers**||**2024**||**2023**|
||**Full time**|**Part time**|**Full time**|**Part time**|
|Partnership|3|1|3|1|
|Personnel|3|1|4|1|
|Ireland|1|2|2|2|
|Hub|5|-|6|-|
||12|4|15|4|



In addition, there are 76 (2023: 65) Mission Partners and 16 (2023: 16) Associate Mission Partners for whom the charity is responsible. 

One employee was paid at a rate between £60k - £70k in 2024 (2023: One) a further £13k of Pension contributions were made for this employee. 

The key management personnel of the Charity comprise the Senior Leadership Team (4) whose employee benefits total £ 254,631 (2023: £ 274,358). 

## **9      Tangible Fixed assets** 

|**Cost or valuation**<br>At 1 January 2024<br>Additions<br>Property Revaluation<br>Write offs<br>At 31 December 2024<br>**Depreciation**<br>At 1 January 2024<br>Charge for the year<br>At 31 December 2024<br>**Net book value**<br>At 31 December 2024<br>At 31 December 2023|**Freehold**<br>**property**<br>**Furniture and**<br>**equipment**<br>**£**<br>**£**<br>3,090,600<br>21,946<br>-<br>1,973<br>(167,600)<br>-<br>-<br>-<br>2,923,000<br>23,919<br>-<br>12,054<br>-<br>4,060<br>-<br>16,114<br>2,923,000<br>7,805<br>3,090,600<br>9,892|**Total**<br>**£**<br>3,112,546<br>1,973<br>(167,600)<br>-|
|---|---|---|
|||2,946,919|
|||12,054<br>4,060|
|||16,114|
|||2,930,805|
|||3,100,492|



The historical cost of the freehold property shown above was £ 2,057,701 (2023: £2,057,701). 

20 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

The building element of freehold properties is written off on a straight-line basis over 50 years.  Furniture and equipment are depreciated at 15% per annum on a reducing balance basis or 20% per annum on cost depending upon the estimated useful life of the assets. 

Our properties are valued on a 3-year basis by a RCIS Surveyor. However, between valuation dates, an annual desktop review is undertaken to measure fair value using relevant indices (primarily House Price Index) and supported by actual sale information of equivalent properties. 

## **10     Investments** 

|Listed on the Stock Exchange<br>Cash held as part of the investment portfolio<br>Cash Held in Charities Official Investment Fund<br>**Movement in Investments during the year**<br>Value at 1 January<br>Additions of listed investments<br>Disposals of listed investments<br>Movement in cash<br>Gains on investments<br>Value at 31 December|**Cost**<br>**£**<br>397,289<br>7,378<br>1,872<br>406,539|**2024**<br>**Market**<br>**value**<br>**Cost**<br>**£**<br>**£**<br>456,948<br>386,519<br>7,378<br>3,482<br>1,872<br>2,789<br>466,198<br>392,790<br>**2024**<br> <br>**£**<br> <br>427,698<br>80,711<br>(74,971)<br>(157)<br>32,917<br>466,198|**2023**<br>**Market**<br>**value**<br>**£**<br>421,427<br>3,482<br>2,789|
|---|---|---|---|
||||427,698|
|||<br>|**2023**<br>**£**<br>398,703<br>62,469<br>(47,043)<br>(10,842)<br>24,411|
||||427,698|



Included in the portfolio are the following investments which represent more than 5% of the total value of the portfolios. 

|||**2024**|**2023**|
|---|---|---|---|
|||**Market value**|**Market Value**|
|||**£**<br>|**£**|
||Vanguard Funds Plc FTSE 100 UCITS ETF GBP DIS|28,798|23,393|
||Vanguard Investment UK LT US Equity IDX|36,453|29,295|
|**11**|**Debtors**|||
|||**2024**|**2023**|
|||£|£|
||Accrued Income|239,734|231,381|
||Prepayments|37,691|36,329|
||Other debtors|-|5|
|||277,425|267,715|



Accrued Income includes legacies of £127k (2023: £145K). 

21 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

## **12     Creditors** 

|Social Security<br>Funds held on behalf of others  -Bartlett Trust (note 21)<br>Accrued expenses|**2024**<br>**£**<br>20,582<br>-<br>82,820<br>103,402|**2023**<br>**£**<br>21,267<br>662,189<br>121,281|
|---|---|---|
|||804,737|



## **13     Pensions** 

Crosslinks participates in the following 5 separate pension schemes, 4 of which are within the Church Workers Pension Fund (CWPF) of the Church of England Pension Board (CEPB). 

## **a. Crosslinks CWPF Pension Builder Classic scheme, for all current lay UK staff and Mission Partners** 

Crosslinks participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers. 

CWPF has two sections: 

1. the Defined Benefits Scheme 

2. the Pension Builder Scheme, which has two subsections; 

a. deferred annuity section known as Pension Builder Classic, and, 

- b. cash balance section known as Pension Builder 2014. 

## Pension Builder Scheme 

Both sections of the Pension Builder Scheme are classed as defined benefit schemes. 

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. 

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. 

There is no sub-division of assets between employers in each section of the Pension Builder Scheme. 

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102.  This is employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme.  The pensions costs charged to the SoFA in the year are the contributions payable (2024: £378,976, 2023: £376,919). 

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022. 

22 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2025, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 2.7% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2024. There is no requirement for deficit payments at the current time. 

The next valuation is due as at 31 December 2025. 

For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. 

The legal structure of the scheme is such that if another employer fails, Crosslinks could become responsible All current and future lay UK staff and Mission Partners are invited to join this scheme. Contributions are calculated at 20% of National Minimum Stipend for Mission Partners and 20% of salary for UK staff. 

## **At 31 December 2024 Crosslinks had 67 (2023: 68) active members of the CEPB Pension Builder Scheme.** 

- **b. Crosslinks Church of England Pensions Scheme for clergy, whether UK Staff or Mission Partners or Associate Mission Partners.** 

Crosslinks participates in this scheme by virtue of its membership of the Partnership for World Mission (PWM), a network of historical Church of England Mission Agencies. 

Under the terms of the PWM agreement, there is a statutory requirement under the Pension Measure 1997 that the Church Commissioners are required to meet the pension costs of clergy employed by Church of England members of PWM. 

**At 31[st] December 2024 there were 14 (2023: 14) Active Crosslinks clergy who benefited from this provision at no cost to Crosslinks.** 

## **c. Crosslinks Unfunded Pension Scheme (Closed)** 

Crosslinks has made pension payments of £ 55,150 (2023: £ 60,004) to former UK staff and mission partners which are not funded by the arrangements with The Church of England Pension Board. As at 31 December 2024 the £ 490,000 (2023: £ 555,000) and this has been provided in full.  The overall liability decreased by £ 65,000 in the year (2023: decreased £ 6,000). 

The main assumptions used in the valuation of this liability are the discount rate applied and the annual increase in the CPI.  The discount rate was estimated at 5.4% (2023: 4.5%) for the year.  The annual increase in the CPI has been estimated at 3.1% per annum for 2024 and 3.1% thereafter. 

|<br>Provision for pensions at 1 January<br>Payment in the year<br>(Decrease)/increase in provision for the year<br>|**2024**<br> <br>**£**<br> <br>555,000<br>(55,150)<br>(9,850)<br>490,000<br>|**2023**<br>**£**<br>561,000<br>(60,004)<br>54,004|
|---|---|---|
|||555,000|



This nded pension payments for the 27 current pensioners in payment. The provision relates to the potential liability to members and former members of the BCMS 1972 Retirement Pension Scheme, including those who also joined the Scottish Amicable scheme in 1983.  Within these numbers, adjustments have been made for 14 pensioners who have waived these pensions from Crosslinks for the benefit of Crosslinks. We are incredibly grateful to these individuals for their support of the Society in this way. 

23 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

There is also 1 further individual identified as a prospective unfunded pensioner and provision has been made for their potential future pension liability. 

## **d. Crosslinks CWPF lay UK Staff and Mission Partners Defined benefit Scheme** 

Crosslinks participates in the Defined Benefits Scheme section of CWPF for lay staff, which is now closed to future accrual.  The Scheme is administered by the Church of England Pensions Board, which holds the assets of the scheme separately from those of the Employer and the other participating employers. 

CWPF has two sections: 

1. the Defined Benefits Scheme 

2. the Pension Builder Scheme, which has two subsections; 

   - a. a deferred annuity section known as Pension Builder Classic, and 

   - b. a cash balance section known as Pension Builder 2014. 

## **Defined Benefits Scheme** 

based on final pensionable salaries. 

For funding purposes, DBS is divided into sub-pools in respect of each participating employer as well as a further sub-pool, known as the Life Risk Pool.  The Life Risk Pool exists to share certain risks between employers, including those relating to mortality and post-retirement investment returns. 

The division of the DBS into sub-pools is notional and is for the purpose of calculating ongoing contributions. This does not alter the fact that the assets of the DBS are held as a single trust fund out of which all the benefits are to be provided.  From time to time, a notional premium is transferred from emplo -pools to the Life Risk Pool and all pensions and death benefits are paid from the Life Risk Pool. 

The scheme is a multi-employer scheme as described in Section 28 of FRS 102.  It is not possible to attribute DBS assets and liabilities to specific employers, since each employer, through the Life Risk Section, is exposed to actuarial risks associated with the current and former employees of other entities participating in DBS.  This means that contributions are accounted for as if DBS were a defined contribution scheme. 

If, following an actuarial valuation of the Life Risk Pool, there is a surplus or deficit in the pool, further transfers -pools, or vice versa.  The amounts to be transferred (and their allocation between the sub-pools) will be settled by the Church of England Pensions Board having taken advice from the Actuary. 

A valuation of DBS is carried out once every three years. At the most recent valuation at 31 December 2022 there was a surplus of £73.6m. 

The next actuarial valuation is due at 31 December 2025. 

Since 31 December 2023, the Board has entered into a full buy-in agreement with Aviva to insure all accrued benefits within the DBS of the CWPF. 

The Church of England Pensions Board agreed that deficit contributions should cease with effect from 31 December 2022 for employers whose pools were estimated to be materially in surplus. As a result, there is no s financial statements as at 31 December 2023 or 31 December 2024. 

The movement in the provision is set out below. 

24 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

**Lay UK Staff.** The pensions costs charged to the SoFA in the year contributions are payable towards benefits and expenses accrued in that year (2024: £ Nil, 2023: £ Nil), plus any impact of deficit contributions, giving a total charge of £ Nil for 2024 (2023: £ Nil). 

|Balance sheet liability at 1 January<br>Deficit contribution paid<br>Interest cost (recognised in SoFA)<br>Remaining change to the balance sheet liability*(recognised in SoFA)<br>Balance sheet liability at 31 December|**2024**<br>**£**<br>**-**<br>-<br>-<br>-<br>**-**|**2023**<br>**£**<br>**-**<br>-<br>-<br>-|
|---|---|---|
|||**-**|



* Comprises change in agreed deficit recovery plan and change in discount rate between year-ends. 

Where relevant this liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions, set by reference to the duration of the deficit recovery payments: 

||December 2024|December 2023|December 2022|
|---|---|---|---|
|Discount rate.|N/A|N/A|0.00%|



**Lay Mission Staff.** The pensions costs charged to the SoFA in the year contributions are payable towards benefits and expenses accrued in that year (2024: £ Nil, 2023: £ Nil), plus any impact of deficit contributions, giving a total charge of £ Nil for 2024 (2023: £ Nil). 

|<br>Balance sheet liability at 1 January<br>Deficit contribution paid<br>Interest cost (recognised in SoFA)<br>Remaining change to the balance sheet liability*(recognised in SoFA)<br>Balance sheet liability at 31 December|**2024**<br>**£**<br>**-**<br>-<br>-<br>-<br>**-**|**2023**<br>**£**<br>**-**<br>-<br>-<br>-|
|---|---|---|
|||**-**|



* Comprises change in agreed deficit recovery plan and change in discount rate between year-ends. 

Where relevant this liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions, set by reference to the duration of the deficit recovery payments: 

||December|2024|December|2023|December 2022|
|---|---|---|---|---|---|
|Discount rate.|N/A||N/A||0.00%|



## **At 31[st] December 2024 there were 29 (2023: 31) lay UK Staff and Mission Staff pensioners and 95 (2023:100) deferred pension members in the Fund.** 

|<br> <br>C of E pension Liability at 1 January<br>Payment in the year<br>(Decrease)/increase in Liability at Triennial Valuation<br>|**2024**<br> <br>**£**<br> <br>-<br>-<br>-<br>-|**2023**<br>**£**<br>-<br>-<br>-<br>-|
|---|---|---|



25 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

## **14     Restricted funds** 

|**estricted funds**|||||
|---|---|---|---|---|
|||**Mission**|**Associate**||
|||**Partner**|**Mission**||
||**Karamoja**|**Projects**|**Partners**|**Total**|
||**£**|**£**|**£**|**£**|
|Funds at 1 January 2024|60,612|160,493|177,645|398,750|
|Income|793|83,040|350,598|434,431|
|Expenditure|(20,620)|(100,831)|(375,669)|(497,120)|
|Gain on investment|7,413|-|-|7,413|
|Transfers between funds|-|(5,457)|68,988|63,531|
|Balance as at 31 December 2024|48,198|137,245|221,562|407,005|



The Karamoja fund represents donations received to fund lump sum payments to Ugandan pastors on retirement within the two Karamoja dioceses. Mission Partner Project funds comprise some 16 (2023: 16) individual funds. These funds represent appeals made by Crosslinks for specific projects controlled by the Mission Partner for specific restricted purposes. Associate Mission Partners funds are funds for which Crosslinks acted in a trustee capacity. A number of AMP funds were closed in 2023 and their balances were transferred out. One MP funds over spent, and funds were transferred in to cover this overspend. 

## **15     Unrestricted funds** 

|**nrestricted funds**|||
|---|---|---|
||**2024**<br>|**2023**|
||**£**|**£**|
|Funds at 1 January|3,360,200|3,263,465|
|Income|3,350,112|3,198,980|
|Expenditure|(3,388,362)|(3,335,135)|
|Gain on investments|25,504|18,538|
|Revaluation of Property|(167,600)|127,151|
|Usable Pension Surplus|-|127,000|
|Revaluation in unfunded pension liability|9,850|(54,004)|
|Transfer between funds|(63,531)|14,205|
|Funds at 31 December|3,126,173|3,360,200|



## **16     Allocation of net assets between funds** 

|**llocation of net assets between funds**|||
|---|---|---|
|**Restricted**<br>**Unrestricted**<br>**£**<br>**£**<br>Tangible fixed assets<br>-<br>2,930,805<br>Investments<br>48,198<br>418,000<br>Net current assets<br>358,807<br>267,368<br>Unfunded Pension Provision<br>-<br>(490,000)<br>Usable surplus for C of E Scheme<br>-<br>-<br>Total funds at 31 December 2024<br>407,005<br>3,126,173|**2024**<br>**Total**<br>**£**<br>2,930,805<br>466,198<br>626,175<br>(490,000)<br>-<br>3,533,178|**2023**<br>**Total**<br>**£**<br>3,100,492<br>427,698<br>658,760<br>(555,000)<br>127,000|
|||3,758,950|



26 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

## **17     Other Financial Commitments** 

|**her Financial Commitments**|||
|---|---|---|
||**2024**|**2023**|
||**£**<br>|**£**|
|Operating leases|||
|Expires within 1 year|185|370|



## **18     Related Party Transactions** 

Eight members (2023: 7 members) of the Trustees and senior staff were a Trustee of a Church and/or organisation who made donations of £ 74,452 (2023: £ 41,632) to Crosslinks during the year. 

A total of £ 432 (2023: £ 446) was reimbursed in 2024 to trustees to cover out of pocket expenses, mainly travelling to trustee meetings. 

A total of £ 10,537 (2023: £ 15,398) was donated to the charity by Trustees and senior management team. 

No trustees received any remuneration or other benefits relating to employment in the period from Crosslinks. 

## **19    Statement of cash flows reconciliation** 

|<br> <br>Net expenditure before other recognised gains and transfers<br>Investment (gains)<br>Investment income<br>Depreciation including write back<br>(Increase)/Decrease in debtors<br>(Decrease)/increase in creditors<br>Pension payment for CofE scheme<br>Pension payment for unfunded liability<br>**Net cash (outflow)/inflow from operating activities**<br>**ovement in Cash**<br> <br> <br>**At 1 January**<br> <br>Movement<br> <br>**At 31 December**|**2024**<br> <br>**£**<br> <br>(68,022)<br>(32,917)<br>(13,316)<br>**(114,255)**<br>4,060<br>(9,710)<br>(701,335)<br>127,000<br>(55,150)<br>**(749,390)**<br>**2024**<br> <br>**£**<br> <br>**1,195,782**<br>(743,630)<br>**452,152**|**2023**<br>**£**<br>(126,570)<br>(24,411)<br>(11,695)<br>**(162,676)**<br>(63,140)<br>580,844<br>672,916<br>-<br>(60,004)<br>**967,940**<br>**2023**<br>**£**<br>**228,694**<br>967,088<br>**1,195,782**|
|---|---|---|



## **20    Movement in Cash** 

27 



**CROSSLINKS** _**Company No.: 00193144**_ **Notes to the financial statements for the year ended 31 December 2024 (continued)** 

## **21       The Bartlett Trust** 

In the year to 31[st] and charity No 249986 (and transferred to Crosslinks in 2015), set up The Bartlett Trust to provide funds for capital expenditure for the benefit of Trinity College (Bristol Limited) a company limited by Guarantee No. 1056656 Assets acquired from the Trust funds are considered to be property of the Trust, Trinity College (Bristol) Ltd receiving free and beneficial use of those assets. Accordingly, the assets are not reflected in the Accounts of Crosslinks. 

Since 1990 certain property assets have been sold and net proceeds from the sales have been applied to the development of the College site. Such funds continue to be held under the terms of the Bartlett Trust Deed. In December 2024, the remaining property 24 Little Stoke Rd was sold. The Trust incurred or committed to expenditure of £ 2,724,979 (2023: £ 2,724,979) on the development of Stoke House, a college property, as follows: 

|**Original Development**<br> **1990**<br>Sale Proceeds<br> 15 Lime Close, Brentry (2002)<br>Sale Proceeds<br> 105 Knole Lane, Bentry (2013)<br>Sale Proceeds<br> 81 Pine Road, Brentry (2014)<br>Sale Proceeds<br> 12 Fern Close, Brentry (2015)<br>Sale Proceeds<br> 24 Little Stoke Road, Brentry (2023)|**£**<br>**1,195,912**<br>99,950<br>138,500<br>160,617<br>180,000<br>950,000|
|---|---|
||**2,724,979**|



## **Acknowledgements** 

The mission work of Crosslinks is based on cooperation and partnerships with our many Churches, Members, Individuals and Trusts. We would like to thank those who have been in gospel partnership with us throughout 2018. 

## **Churches** 

We would like to thank the various partner churches who continue to support Crosslinks, through their support for a Mission Partner or a particular Means of Mission. We would also like to thank those churches who contribute towards the central support costs of the society. 

## **Members** 

Crosslinks would like to thank its membership for their continuing support both spiritually and financially. Without this membership the mission society would not survive so we are grateful to them. 

## **Legacies** 

We continue to give thanks to the Lord for providing for Crosslinks in this way. We are incredibly grateful to all those who have chosen to leave legacies to Crosslinks in the last year. 

## **Trusts** 

We would like to thank the Trusts who have given so generously to Crosslinks. 

28