Charity registration number 1168500 (England and Wales) THE STUART HINE TRUST CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Caladine chartered Certified Accountants THE STUART HINE TRUST CIO LEGAL AND ADMINISTRATIVE INFORMATION Tru8lee8 Mrs M Churchyard Mr R Clark Mr N Coltman Mr J Juby Mr P Loose Mrs S Wilmot MrA Bodkin Mr D R Churchyard (Appointed 8 June 2024) (Appointed 8 June 2024) Charfty number 1168500 Prfnclpal addre8¥ 40 Chapel Road Pawlett Bridgwater Somerset TA6 4SH Indopendont examlngr John Caladine FCCA CTA FCIE Caladlne Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF Prlnclpal 8ankern Metro Bank 59 Terminus Road Easlboume East Sussex BN213NN Financial advlser8 Amott Guy & Co Ltd Cornerstone House 416 Brassey Avenue Eastbourne BN22 9QD Legal advlsers Taylor Wessing 5 New Street Square London Ff.4A 3TW Robert Monath PO Box 12423 Raleigh NC 27605 USA THE STUART HINE TRUST CIO CONTENTS Page Tru5t8es report Statement of Trustees responsibiliti8S Indep6ndent examlnefs report Statement of financial activities Statement of financial position Statement of cash flow5 Notes to the financial statements 10-16 THE STUART HINE TRUST CIO TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 Th8 Trustees pr8S8nt their annual report and financial statements for the-year ended 31 March 2025. Th8 financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's constitution the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicabl8 to charities preparing their accounts in accordanc8 with the Financial Reporting Standard applicable in the UK and Republic of Ir8land IFRS 102) (effective 1 January 2019)" Objectives and actlvltles The objects of the trust are to receive the royalties due from the hymn How Great Thou Artl and its derivatives (the English words and arrangement of this hymn were written by the late Stuart K. Hinel, invest the rec81pls and 8nsure that the resulting funds are uséd for charitable purposes only. Th8 trust is also responsible for the hymns collected by Stuart and published in the songbook Hymns of Other Lands. No royaltl8s are currently received in respect of these hymns. Durlng thls financlal year we have continu8d to make grants to the UK charitiès supported by Stuart durlng hls lffetime. For many years Stuart ministered In Poland, and what is now the Ukralne, and consequ8ntly we continue to support organisations working th8re. Given Ihe recenl outbreak of war in that region the trustees wished to focus much of their funding in that area. stuart's daughter (who sadly died in October 2023) was, for many years, involved both in Bible translation and teaching with Wycliffe Bible Translators. We were again able, this year, to provide funding towards specific projects and mission workers. 36 /D of our grants in this year have gone to Wycliffe. In all we have given financial support to twenty seven different Christ18n charities, Christian organisations, individuals and missionary societies throughoul the year. Publlc beneflt The Trustees, in deciding what charities the trust should sUPPOrt, have had duè regard to Ihe Charily Commission's guidance on public benefit and operate the trust accordingly. All the charities, organisations and individua15 we support operate for the public benefit, bolh within the UK and oversea5. The Trustees hav8 paid due regard lo all guidance issued by the Commission, The Trust funds- Bible translation, projects undertaken by Wcliffe Bible Translators. Christian fflinisty of organisations working in Eastern Europe. Christian Trusts involved in assisting missionaries on furlough. Christian Trusts and organisalions helping retired missionaries. Christian organisations engaged in spreading the Gospel through education, literature, music, church planling and the media. Achievemants and perfonnance We are continuing lo see the benefits of the changes we made, some years ago, in our sub-publishing agreements with American publlsh8rs. We are also conlinuiiig lo benefit froin lower exchange rates. No change has taken place in the administration of the rrghls for the Rest of the World. These continue to be The hymn remains exceedlngly popular, and the Trustee5 are anlicipaling great celebrations of all that has been achieved with the royallies received lo dale and what they hope will be achieved in Ihe future. The Trust's website showcas8S the new version of the hymn as well as highlighting the great impact that the original hymn has had over the years and the ongoing work ofthe Trust. Ihowgreatthouartofficial.com) THE STUART HINE TRUST CIO TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review Our main source of income is the copyright royalties we receive from the hymn How Great Thou Art! published by the late Stuart K. Hine in April 1949. Mr Hine died on the 14 March 1989. How Great Thou Art! will remain in copyright until 315t December 2059. In addition, we do receive a small amount of income from our Inv8Stm8nts. In 2024 we celebrated the 75th Anniversary of the first publication of How Greal Thau Artl The Trustees commissioned a new version of the hymn "How Great Thou Artl (Unlil That Day)" with additional tyrics by Matt Redman and Mitch Wong. The Stuart Hine Trust CIO owns the copyright in this new work (copyright in this naw work will last 70 years from the year in which the last surviving author dies). Any royalties received from the new work will be us8d exdusively for charities working in th8 Ukraine and surrounding areas for the foreseeable future. The level of Royalty income varies from year to year, as it is dependènt on sales of third-party products, perfomances and exchange rales, During the financial year ending 31 March 2025, we saw the income increase from £624,224 to £634.256. We are so appreciative of the work and creativity of all our sub-publishers. Our Investment Income, from deposll accounts, has shown an increase from £2,492 to £4,049. At the year-end our annual Income & expendlture showed a surplus of £46,23112024'. deficit of £19,473). As in the pasl grants were made, primarily, to Wycliffe Bible Translators (£191,200) Christlan charltie5, and Christian organisations, in accordance with the settlor's wishes. We hope to continue to support these charities in future years. Additional fflajor grants of £10,000 or mole were made to the following charitl8S'. Bible Society £20,000 Breadline £25,000 CLC Intemational £30,000 Cross Rhythms £10,000 Gr8al Lakes Outreach £21,000 18TI £10,000 Innovista £40,000 Life Bridging Work5 £14,000 Slavic Gospel Association £35.000 Transform Europe Ne￿ork £35,000 Word for the World £12.500 Support and governanc8 costs were £20,145, higher than last year (2024.. £14,107) primarily due to costs in r8lation to th8 website design. Total funds at 31 March 2025 amounted to £227,713 (2024.. £181,482). Reserves policy It is the policy of the trust to maintain unrestticted funds, which are the free reserves of the trust, at a level which exceeds the anticipated annual commitments. This is calculated as £120,000. This enables the trust to respond promptly to emergency applications for grants. The trust has no legal commitments for the year ending 31 March 2025, but the anticipated annual commitments are in the region of £160,000. Unrestricled funds at 31 March 2025 were in excess of thi5 amount. Investment policy Financial advisers have been appointed to assist the trustees in the task of investing any surplus funds in deposit accounts with recognised financial institutions. THE STUART HINE TRUST CIO TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Risk management The Trustees examine, on a regular basis, the major business and operational risks the charity faces. Reporting systems and procedu￿$ have been established to ensure that steps are taken to lessen these risks. Each Trust8e accepts responsibility for an ar8a of opèration conslstenl with their area of expertisè. However, the oversight and management of the Trust remains Ihe responsibility of all the Trustees and all decisions ar8 taken by the whole board. Our Independent Examin8r receives copies of all minLrtes to ensure that both legally and financialtry we are meeting the requirements of the Charity Commission. Data Prot8Ctlon Legl8latlon The Trustees have discussed Ihelr understanding of the lat8St GDPR legislatlon and their personal responsibility regarding personal dala on thelr GornputeTs. They have confimied and agreed thelr Prlvacy Notice document and the Trust's Consent Form. The Prlvacy Notice is Included on our website. Structurei governance and manag8menl The Stuart Hine Trust Clo is governed by ils Constitution dat8d 29 July 2016. which took over the assets of the previous Trust - The Stuart Hine Trust remains in existence in case of any residual legal righ15 coming to light in the future which might not have been transferred to The Stuart Hine Trust CIO (the Trust). To ensure a nominal amount is available to maintain the legal 8XlStence of the Stuart Hine Trust a £5 note has b8en attached to the Stuart Hine Trust deed in the Trust's secure filing cabinet at our offices in Pawlett, Somerset. The Trust8es, who are also the members of the Trust, who served during the year and up to the date of signature of the financial statements were.. Mr R Bodkin FCA Mr L Chipping Mrs M Churchyard Mr R Clark Mr N Coltman Mr J Juby Mr P Loose Mrs S Wlmol MrA Bodkin Mr D R Churchyard (Retired 8 June 20241 {Retir8d 8 June 20241 {Appolnted 8 June 2024) {Appointed 8 June 2024) It is the Trust's policy that the Trustees should be drawn from a broad spectrum of evangellcal denominational affilialions with glfts and skills that meet the needs of Ihe Twst Board. Th8 Trustees normally meet at least Ihiee times a year in March, June and November. The Trustees have delegated the day io day running of the Trust to Mrs Melanle Churchyard. She communicates regularly with the olher Trust88s by email and telephone to discuss issues that arise in between meetings. Financial and management informalion is also regularly communicated in Ihis way. Disclosure of information to Independent Examlner The Trust8es are aware of their responsibilities, as set out above, and have taken all the sleps'necessary to ensu that they prowde the Independent Examiner with the information he requires. To the best of our knowledge and belief, there is no relevant information about which the Independent Examiner is not aware. Independent Examiner Mr J R Caladine FCGA CTA FCIE, is the Independent Examiner to the Trust and he has indicated that he will be prepared to continue in office. THE STUART HINE TRUST CIO TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees report was approv d by the Board of Trustees. uby Chalrman Date.. Zo15 tL THE STUART HINE TRUST CIO STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees are responsible for preparing the Trustees Report and the financial statements in aC￿rdan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom G8nerally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to pr8pare financial statements for each financial year which give a tru8 and fair view of the stste of affairs of the trust and of the incoming resources and application of resources of the trust for that y8ar. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consislenlly,, observe the methods and principles in the Charities SORP-, make judgernents and 8Stimat8S that are reasonable and prudent., state whether applicable accounting Standards have been followed, subject to any materSal departures disclosed and explained in the financial statements., and prepare the financial statements on the going conoem basls unless it is inappropriate to presume that the charlty wlll contlnue In operation. The Trustees are responsible for keeping sufficient 8ccounting records that disclose wlth re8sonable accuracy at any time the financial. position of Ihe trust and enable them to 8nsur8 that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking r8asonable steps for the prevention and detection of fraud and other irregularities. THE STUART HINE TRUST CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE STUART HINE TRUST CIO I report to the Truste8s on my examination of the financial statements of The Stuart Hine Trust CIO (the trust) for the year ended 31 March 2025. Responsiblllties and basls of report As the Trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the trust's financial statements carried out under section 145 of th8 2011 Ad. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)(b) of the 2011 Act. Independent examlnerfs statement Since the trust's gr05s income exceeded £250,000, the independent examiner rnust be a member of a body listed in section 145 of thè Charities Act 2011. 1 confirm that l am qualified to undertake the examination b8cause l am a member of the A$so¢iation of Chartered Certified Accountants, which is one of the listed bodi8S, Your attention is drawn to the fact that the charity has prepared the financial stat8ments in accordance wlth the levanl verslon of the Slat8menl of Recommended Practice applicable to charities preparlng iheir financial statements In accordance wllh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recomrnended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been wilhdrawn. l understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me caus8 to believe that in any material respect.. accounting records were not kept in r8SP6Ct of the Irust as required by section 130 of the Charities Act 2011. the financial stat8m8nts do not accord with those records- or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set oul in the Charities (Accounts and Reports) R8gulations 2008 other than any requirement that the financial statements give a true and fair view, which Is not a matter considered as part of an Independenl examination, I have no concems and have come across no other matt8rs in conn8Ction with the examlnation to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to b8 reached. John Caladlno FCCA CTA FCIE Chartered Certified Accountant Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN211BF Date". THE STUART HINE TRUST CIO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestrictsd Restrictsd funds funds 2024 2024 Total 2025 2024 Nots8 Income from: Charitable activities Investments 614,725 4,049 19,531 634,256 4,049 624,131 2,492 93 624,224 2,492 Total Income 818.774 19,531 638,305 826,623 93 626,716 Expendlture on: Charltable actlvllies 592.074 592,074 648,189 646,189 Total expendlturn 592,074 592,074 646,189 646,189 Net Incomellexpendlturel and movement In funds 28,700 19,531 46,231 (19,568) 93 (19,473) Reconclllatlon of funds: Fund balances at 1 April 2024 181,389 93 181,482 200,955 200,955 Fund balanc08 at 31 March 2025 208,089 19,624 227,713 181,389 93 181,482 All income and expenditure derive from continuing activities. THE STUART HINE TRUST CIO STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2025 2025 2024 Notes Currènt assets Cash at bank and in hand 240,577 183.282 Currant Ilabllitio$ 11 (12,864) (1,800) Net current assets 227,713 181.482 The fundg of the trust Restrided incom8 funds Unrestricted fijnds 12 13 19.624 208.089 93 181.389 227,713 181,482 Th8 financial statements were approved by the Trustees on ... .. Juby mian Ch THE STUART HINE TRUST CIO STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2026 2024 Notss Cash Ilows from operating activitieg Cash generated froml(absorbed by) operations 16 53,246 (24.2321 Inve8tlng aetivitie8 Investment income received 4,049 2,492 Net rA8h g•n•rat•d from Inve8tlng actlvltl98 4,049 2.492 Net Increasel(decrease) In ca•h and cash oqulvalents 67,295 (21,740) Cash and cash equivalents at bèginnlng of year 183,282 205.022 Cash and cash equivalents at end of year 240,577 183,282 THE STUART HINE TRUST CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies Charity Information The StLtart Hine Trust CIO is a Charitable Incorporated Organisation with a prtncipal addr8ss of 40 Chapel Road, Pawlett, Bridgwater, Somerset, TA6 4SH. 1.1 Basls of preparation The financial statements hav8 been prepared in accordance with the trust's constitution. the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practits applicable to charities preparing their arGounls in accordance with the Financial R8POrting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The trust is a Public Benefrt Entity as defined by FRS 102. The flnanclal slatements have d8parted from the Charities {Accounts and R8POrts) Regulations 2008 only to the extent required to provide a tru8 and fair view. This departure has involved following the Statem8nt of R8commended Practice for charities applylng FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in th8 Regulations but which has since b8en withdrawn. The financial statements are pr8paTed in sterling, which is the function81 currency of the trust. Mon8tary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the Trustees have a reasonable expectation that th8 trust has adequate r8sourc8s to continue in operational existence for the foreseeable future. Thus the Trustees continu8 to adopt the going concern basis of accounting in praparing the financial statements. 1.3 Charitablo funds Unrestricted funds are ava118ble for use at Ihe discretion of the Trustees In furtherance of their charltable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purpose8 and uses of the restricted funds are set out in the notes to the flnanclal statements. 1.4 Income Royalty Income Is re¢ognis8d on receipt of monies recelved per the Industry standard. 1.5 Expandlture Resources expended are allocat8d to th8 particular cost centre to which they relate and include itrecoverable VAT. Grants Paid Disclosure of the grant making poliw and sums distributed are shown in the Trustees report. 1.6 Cash and cash equivalents Cash and cash equivalents includ8 cash in hand, deposit5 held at call with banks, other short-tem liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts ar8 shown within borrowings in current liabilities. 10- THE STUART HINE TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Continued) Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transadion costs and ar8 subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where Ihe transaction is measured at the present value of the future receipts discount6d at 8 market rate of interest. Financial assets classified as receivable within one year are not amortised, Baslc Ilnaneial liabilities Basic financial liabilities, including tfade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a mark8t rate of interest. Flnancial liabilities dassified as payable wlthln one year are not amortised. Debt instruments are subsequently carried at amortiS8d cost, using the effectlve Interest rate method. Trade payable5 are obligations lo pay for goods or servlces that have been acqulred In the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-¢urrent liabilities. Trad8 payables are recognised initially at transaction price and subsequently measured at amortised cost using the 8ff8CtiV8 interest method. Derecognltlon of financlal Ilabllities Financial liabilities are derecognised when the trust's contractual obligation5 expire or are discharged or cancelled. 1.7 Employee boneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's ServI￿S are received. Termination benefits arg recognised immediately as an expense when the trust is demonslrably committed to terminate the 8mployment of an employee or to provide termination benefits. Critical accounting estimate8 and judgements In the application of the trust's accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and othei factors that are considered to be relevant. Actual results may dlffer from these estimales. The estimates and underlying assumptions 8re reviewed on art ongolng basis. Revisions to accounting eslirnates are recognised in the period in which the estimate is revised where the revision affects mly that period. or in the period of the revision and future periods wh8re the revision affects both current and future periods. Income from charitsble actlvltios Unrestrlcted Restricted funds funds 2025 2025 Total Unrestricted Rostricted funds . funds 2024 2024 Totsl 2025 2024 Charitable activities Royalties 614,725 19,531 634,256 624,131 93 824,224 11 THE STUART HINE TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from investments Unrestrlcted Unrestricted funds funds 2025 2024 Interest receivable 4,049 2,492 Expendlture on charitablo a¢tivltl•• Charitable actlvltles Charitable activitl8S 2025 2024 Direct CO8t8 Royalt18s paid Productions costs (Anniversary) 32,983 7,746 39,643 34,029 40,729 73,672 Grant funding of activities (see note 6) 531,200 558,410 Share of 8UPPOrt and governance ¢08ts18eo noto 71 Support Govemance 4,011 .16,134 1,246 12,861 592,074 646,189 Analy819 by fund Unrestricted funds 592,074 648,189 Grnnts payabl• Charltable activities 2025 Charitable activities 2024 Grants to institutions.. Wycliffe Bible Translators Other Institutional Grants 191,200 340,000 204,800 353,610 531,200 558,410 12- THE STUART HINE TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities Charltable actlvltles 2026 Totsl 2024 Printing, postage and stationery Bank charges Website other admin expenses Governance 40 330 380 85 728 12,861 275 16,556 20,145 14,107 2026 2024 Governanco costs comprlse: Accounlancy Professional fees Trustee meetings and expenses 2,040 10,173 4,343 1.800 7.750 3.311 16,556 12,861 Accountancy fees includes payments to the Independent Examiner of £1,170 (2024.. £1,050) for accountancy services and £87012024.. £750) for indep8nd8nt examlnation work. Tru8tee8 Mr R Bodkln, a Trustee, received fees of £575 (2024: £2,300) for professional services before his retlr8ment. Mrs M Churchyard, a Trustee, recelved fees of £8,250 (2024.. £5,200) for professlonal services during th8 year, Mrs S Wilmol, a Truslee, was 8mployed by the grant recipient Wydlffe Blble Translators until 30 June 2024 and is also a trustee of grant recipient Great Lakes Outreach. Three Trustees were reimbursed travel and subsistence expenses totalling £2,305 during the year {2024'. three twstee5 were reirnbursed £1,102). ciiipivy¥¥ The average monthly number of employees during the year was.. 2025 Number 2024 Number Totsl There were no employees whos8 annual remuneration was more than £60,000. 13- THE STUART HINE TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Taxation The charity is exempt from taxation on its activit18s because all its income is applied for chaTitsble purposes. 11 Current Ilabllltles 2025 2024 other payabl8S AcLruals and deferred income 10,944 1,920 1,800 12,864 1,800 12 Restrictsd funds The restricted funds of the charity comprlse the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2024 Incoming At 31 March re8ource8 2025 How Great Thou Art (Until That Day) 93 19,531 19,824 Pr8viou8 year: At 1 Aprll 2023 Incomlng At 31 March resource8 2024 How Gre8t Thou Art (Until That Day) 93 93 How Great Thou Art (Until Thal Day) - The fund has been set up to house the royalties from the new song for an initial period of 3 years and lor the money to be disbursed for work in Ukraine. 13 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subj8Ct to specific conditions by donors and granlors as to how they may be used. These include designated funds which hav8 been set aside out of unrestricted funds by the Trusle8s for specific purposes. At 1 Aprfl 2024 Incomlng resources Resources expended Tran8fers At 31 March 2025 Sonia Hine Bursary Fund Reserve Fund General funds 75.000 120.000 {195.000) 75.000 120,000 13.089 181.389 618,774 (592,074) 181,389 618.774 (592,074) 208,089 14- THE STUART HINE TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Unrestrlcted funds (Contlnued) Prevlous yèar.. At 1 Aprfl 2023 Incoming Resources resour¢e$ expended Transfers At 31 March 2024 General funds 200,955 626,623 {646,189) 181,389 Sonla Hlne Bursary Fund During the year the Trustees agreed to set up a bursary fund In memory of Sonla Hlne, The fund will support bible translation project with an ongoing bursary over three years. Rèsorve Fund This fund has been established during the year as a matter of good practice. 14 Analy818 of net a888ts between funds Unre8trl¢ted funds 2026 Re8tri¢tsd funds 2025 Total 2025 At 31 March 2026: Currant assetsl(liabilit18s) 208,089 19,624 227,713 208,089 19,624 227,713 Unre8tr1cted fund8 2024 Ra8tri¢tod funds 2024 Total 2024 At 31 Mar¢h 2024: Current assetsllliabilities) 181,389 93 181,482 181,389 93 181.482 15 Related party transa¢ti¢ng Transactions with Truslees are outlined in Note 8. There are no other disclosable related party transactions. 15- THE STUART HINE TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Cash generated fromllabsorbod by) opèratlons 2025 2024 Surplusl(deficit) for the year 46,231 {19,473) Adjustments for.. Investment incom8 r8cognised in ststement of finandal actlvlties (4,049) (2,492) Movoments In worklng capltal: Increasel(decrease) In trade and other payabl8S 11.064 (2,267) Cash g•noratsd froml{ab8or￿d by) oporatlons 53,246 (24,232) 17 Anaty818 of ¢hange8 In net funds Th8 trust had no material debt during the year.