King's=vangelical DIVINITY SCHOOL Registered Charity Number 1169734 REPORT OF THE TRusfEES AND FINANaAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 FOR KING'S EVANGELICAL DIVINITY SCHOOL
KING'S EVANGELICAL DIVINITY SCHOOL CONTENTS Page General information Report of the Trustees Examiner's report Receipt and payments account Balance sheet io
KING'S EVANGELICAL DIVINITY SCHOOL GENERAL INFORMATION Trustees Gary Edwards (Chair) David Williams (resigned 16th September 20251 Steven Davies Charles Blundell Angela Graham (appointed 13 March 20251 Charfty Reglstration Number 1169734 King's Evangelical Divinity School I" Floor 415 High Street London E15 4QZ Bankers Wise Payments Ltd. Floor 6. Tea Building 56 Shoreditch High Street London El 6JJ Insurers Ansvar Beaufort House Brunswick Road Gloucester GLI IJZ Accounts examined by: Irena Pistun 8 Hawthorne Avenue Monton Manchester M30 9JT
KING'S EVANGELICAL DIVINITY SCHOOL REPORT OF THE TRusfEES YEAR ENDED 31 DECEMBER 2025 King's Evangelical Divinity School IKEDSI exists to advance the education of the public in theology and religious studies and the Christian faith. It offers accredited courses at undergraduate and p05t8raduate levels. The Trustees present the annual report tO8ether with the financial ststements of the Trust for the period ended l December 2025. l. Objertlves The charitable objects as detailed in the Trust Deed dated 25 January 2009 are: 11 to advance the education of the public in the subject of theology and religious studies. 21 the advancement of the Christian religion mainly. but not exclusively, by means of broadcasting Christian messages of an evangelistic and teaching nature. 3) to advance the Christian religion for the benefit of the public through the holding of prayer meetings, lectures, public religious services, and produring and/or distributing literature on Christiantty to enlighten others about the Christian religion. 2. Activitles History The School was founded in 1990 in the midlands by a l¢xal church to provide evening and short courses in biblical studies and theology to Evangelical Christians. Courses were initiallv unaccredited and most of the tutors were local church pastors. In 2002 the school began to offer formally accredited undergraduate studies via the University of Wales, and by 2009 was also offering accredited postgraduate studies. In 2008, the school became independent of its parent local church and was renamed King's Evangelical Divinity School. In 2010 King's became partner college of the Theology and Religious Studies department at the University of Chester. The school now operates remotely and currently offers Bachelor of Theology, Graduate Diploma and Master of Arts progrdmmesvalidated bychester University. King's also offers its own internally validated progrdmmes and short courses. Ongoing t7e5 The school specialises in distance learning and all its progrdmmes are delivered online. Faculty at the school come from across the United Kingdom and overseas, and students are based in the both the UK {60%1 and overseas140%}. Currently, overseas students primarily reside in Engllsh-speaking countries and the European Union. The school also holds conferences and teaching event5. conducts study trips, and publishes theological materials. It has occasional involvement in short-term missions.
Adlvltle5 In the Or ended 31 2025 In this period, the school refined its Mission and Vision statements, and developed its marketing message and strategy given the current global climate for online theoloEical education,. the website VRS entirely reworked in line with these considerations. Severdl new faculty member5 were added. The school continues to have a substantial number of students on BTh and MA courses validated by the University of Chester. Although the University of Chester decided in summer 2023 to stop validating courses for any new student5 With the school. all existing students are allowed to complete their courses with validation from Chester. However, this loss of ability to offervalidated courses meantthe pressing issue forthisyearfor the Trust wasto find a new validating partner so that students could continue to be attracted to the school. The school's application to join the European Council of Theological Education {EcfEI as its new validating partner is progressing well and is expected to be completed in 2026. This partnership allows the school to continue to offer accredited ¢ourses, while providing 5tudentS with greater flexibility in transFerring credits to other programs in the UK and USA. The majority of our course5 have now been appropriately adapted to our new validating partner's system. The main objectives for the Trust in 2026 are therefore 11 to complete the application process for validation through EcfE, and 2) then attrart new students to study our validated courses with them. Forour non-accredited courses, we have had considerable InteSt and a good numberof new students in 2025, in particular biblical languages, Knowing Your Bible, and Foundations of Biblical Interpretstion. The school organised a well-attended Big Questions teaching day, held a joint conference with Chosen People Ministries on a variety of topics related to Israel and the Church, and launched the Jewishchristian Studies podcast. On-line seminars on diverse topics were condurted throughout the year, with a successful seminar series on cutting*dge theological research from March to May. the messianic background of Jewish Passover rituals in April. and a series about matters immediately pertinent to pastors during pastor's appreciation month in October. The Trust works with several churches and Christian organisations in the UK and abroad in order to achieve its objectives. 3. Financial Review The accountsfortheTru5t are attached and have been prepared onthe Receipts and Payments basis in accordance with the Charities Act 2011 and the requirements of the Charities Commission guidance paper FR5102 for smaller charities. During this period the Trust has received income of £35.829 and incurred expenditure of £33,015. At the balance sheet date of 31" De¢ember 2025, the Trust had a cash position of
£11,939 and a55etS totslling £64. None of the cash is restricted. The Trust has no creditors and only has obligation5 to distribute the donations received in accordance with the wishes of the benefactors. The Trustees are encournged that the financial position is stable compared to the start of the period. In view of this, the Trustees are satisfied that the Trust be considered going concern. The two main sources of income are tuition fees and donations. The main expenses relate to the provision of academic services (tutoring and other profes5ion?11, IT costs, and financial and insurdnce Costs. The Trustees are satisfied that the level of reserves in the Trust is adequate for the next year. 4. Structure, Governance and Management Noture of qoverninq document The Trust is governed by a Deed dated 25 January 2009. Publlc benefit The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefitguidance published by the Charity Commission for England and Wales. Statement of Trustees Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the Financial Statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the Trustees to prepare financial ststements for each financial period which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that period. In preparing these financial statements. the Trustees are required to: select suitable accounting policies and then apply them consistentlyi observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departu$ disclosed and explained in the financial statements; and prepare the financial statement5 On the going con¢em basis unless it is inappropriate to presume that the charity will Continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of theTrust and enable them to ensure that the financial statement5 comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constfturion. The Trustees are also responsible for safeguarding the assets of the Trust and hence for tsking reasonable step5 for the prevention and detection of fraud and other irregularities,
Orqanlsotlonols¢rurture The Trustees oversee and make decisions regardin8 the strate8ic direction of the charity in co- ordination with the School Principal (Dr. Anthony Roylel, as well as setting budgets, and dealing with legal and personnel issues. Gary Edwards holds the position of Chairman. The Trustees delegate the day-to-day runnin8 of the Trust to the School Principal, who actions all the key objectives and operdtion5 of the Trust. Trustees review the operations of the Trust on quarter basis and are inVoed in day-to-day management decisions as queSted by Dr. Royle. Rlsks The Trustees review the major risks to which the Trust is exposed. The Trustees believe that maintaining reserves at the levels ststed. combined with annual reviews of the controls over key financial systems, will provide enough resources in the event of adverse conditions. The Trustees are aware of other operational, external and law compliance risks which the Trust faces and confirm that they have considered and mitigated against the significant risks. Recrultment ond appointment OA Trustees New Trustees are appointed by a resolution passed at a properly convened meeting of the existing Trustees. When the Trust seeks potential new Trustees. it does so through its network of contacts. In selecting individuals for appointment as a Trustees. the existing Trustees have regard to the skills, knowledge and experience needed for the effective administrdtion of the Trust. Trustees are interviewed and provide both professional and personal references before they are Considered forappointment. In this period, Mr. David Williams resigned a5 Trustee on i* September 2025. The Trustees thank him for his years of faithful support of the Trust. Also in this period, Mrs. Angela Graham was appointed as Trustee on 13 March 2025. New Trustees are given training as to their obligations as per the Charity Commission guidance on public benefit, as well as orientstion in the Trust's Deed, decision-making processes, business plan and recent financial perfomiance. Trustees are encouraged to attend appropriate external trdining events where these will facilitate the undertaking of their role. This annual report was approved bythe Trustees of the Trust and signed on its behalf by: Signed...........................-.-.-..-.......... 28-0É-20 Date.- Gary Edwards Chairman and Trustee
KING'S EVANGEUCAL DIVINifi SCHOOL INDEPENDENT EXAMINER'S REPOKr YEAR ENDED 31 DECEMBER 2025 I report on the accounts for the year ended 31" Dernber 2025. which are set out on pages 9 and 10. Respertive Responsibilities of Trustees and Examiner The Trustees are responsible for the preparation of the accounts. The Trustee5 consider that an audit Is not required for this year under section 144121 of the Charities Act 2011 Ithe "Charities Act") and that an independent examination is needed. Having satlsfied myself that the tharlty is not subject to an audit and is eligible for independent examination, it is my responsibility to.. examine the accounts under section 145 of the Charities Act. and to follow the procedures laid down in the general Directions given by the Charity Commission (under sethon 14515llbl of the Charities Act, and state whether particular matters have come to my attention. Basis of independent examinerfs statement My examination was carried out in accordance with general Directlons Eiven by the (J7arity Cornmission. My examination included a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It a150 included consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any suth matters. The procedures undertaken do not provide all the eviden that would be required In an audit, and consequently. no opinion is given as to whether the accounts present a rue and falr view" and the report is limited to those matters set out in the statement below. Independent emamlnerfs ststement In the course of my examination. no matter has come to my attention l. which gives me reasonable cause to believe that. in any material respect, the requirements to keep accounting records in accordance with section 130 of the Charities Act,- and to prepare accounts which accord with the accounting record5 have not been rnet; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the a¢counts to be reached. Irena Pistun 8 Hawthome Avenue Monton Manchester M30 9JT
KING'S EVANGELICAL DIVINITY SCHOOL RECEIPTS AND PAYMENT ACCOUNT YEAR ENDED 31 DECEMBER 2025 31 Dec 2025 31 Dec 2024 Operatlng Income (£) Tuition Fees Gifts and Donations Alumni Contributions Bank Deposit Interest Publishing and Sales Refunds 33.394 2,430 39,177 7,020 571 50 45 765 TOTAL 35.829 47,019 Operating Expenses 1£) Academic expenses and Services Tutor expenses Administrdtor & Secretarial Payroll & Professional fees rr Costs Insurances Office & Other operational cost5 Merchantnrdnsaction fee5 Finance & Interest charges Sundry expenses Office Assets 9.952 128 12,628 1.941 19,159 1469 1031 703 510 18,500 1.743 583 2,426 73 631 TOTAL 33,0 37.957 Notes.. 'The profft/loss statement and cash summary report an income of £46,926, compared to £47,019 on the annual return-a £57 difference due to bank interest being recorded as income in the annual return but as an expense in the profft/loss ststement, ensuring con5i5tent categorisation for 2023 and 2024. Similarly, expenses in the profit/loss and cash summary total £37.837, while the annual ieturn shows £37.957-a £120 difference. This diserepancy arises from £63 in fixed assets Inot listed as an expense on both report51 and £57 in bank interest. Insurance costs hncrea5ed following the expansion of cover. including cyber insurance approprl*e for an online school. Merchanvtransaction fees indude bank and payrnent proces%ng charges, net of cashback.
KING'S EVANGELICAL DIVINITY SCHOOL &4LANCE SHEEr AS AT 31 DECEMBER 1025 31 Dec 2025 31 Dec 2024 Assets 1£) Current Assets Cash at bank Cash at hand Tangible Assets (office Equipment) 11,939 9.062 TOTAL CURRENT A55Ers 12.003 9,126 Liabilities {£) Card Account TOTAL CURRENT UABILITIES TOTAL ASSETS AND LIABILITIES 12.003 9,126 This financial report was approved by the Trustees ofthe Trust and signed on its behalf bv: Signed.................................................... Date.. Gary Edwards Chairman and Trustee io
2025 Financial Report Explanatory notes." Please See below how the Xero categories (italicised) were summarised for 2025.. Operaung Income: TOTAL l. Tuition fees (- Applicotionfee + Degrees + Short Course in Xero) 2. Gifts & Donations l= Donations in Xero) 3. Publishing and Sales (- other revenue in Xero) 4. Refunds {- Refvnds in Xero) operan8 Expenses.. £33,394 £2,430 £50 £45 l. Academic expenses and Servi¢es l=Advert & Marketing £1.864.97 +Subscriptions £611.27 +Travel internotlonal £267.56 + Travel Nationa1£573.89 + Volidation £6,633.90} 2. Tutor expenses l= Tutor Salary) 3. Payroll & Professional fees Contractor solary £1.999.48 + Solaries £17,160) 4. IT Costs (- Websitefeesl 5. Insurances {= Insurances) 6. Office & Other operational costsl-audit & occounting £496.26+ rent £158.28 + general expenses £48.) 7. Merchant/Trdnsaction fees (Bankfees £116.09 + Stripe Fees £393.42) 8. Office Assets 1=offi equipment) 'additional category £9.952 £128 £19,159 £1469 £1031 £703 £510 £64 **