SeLDVet) rg IMPACT REPORT 2024/25
CHARITY NO: 1170261
Bank details for donations:
Co-operative bank Beloved 67258633 08-92-99
CHARITY NO: 1170261
CONTENTS
Reference and Administration Information
Structure, Governance and Management
Report of the Trustees
(Encompassing Objectives, Activities, Achievements and Performance)
Statement of Trustees’ Responsibilities Independent Examiner’s Report Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
Pg 4
Pg 5
Pg 6-25
Pg 26
Pg 27 Pg 28
Pg 29 Pg 30-36
CHARITY NO: 1170261
REFERENCE AND ADMINISTRATION INFORMATION FOR THE YEAR ENDED 31 MARCH 2025
Address for correspondence
C/O Burton Sweet Ltd The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Governing document CIO
Constitution dated 18 November 2016
Charity Registration Number
1170261
Trustees responsible for managing the charity
This charity has been given a dispensation from the charity commission for publishing the names of its trustees.
Bankers
Cooperative Bank PO Box 101 1 Balloon Street Manchester M60 4EP
Independent Examiner
Joshua Kingston, BSc ACA Burton Sweet Limited Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
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CHARITY NO: 1170261
STRUCTURE, GOVERNANCE AND MANAGEMENT
Beloved is a Charitable Incorporated Organisation (CIO) (number: 1170261), registered in 2016.
The policy and operating decisions of the charity rest with the Trustees who meet regularly to monitor the activities of the organisation.
New Trustees are appointed by the existing body of Trustees in accordance with Paragraph 11.1 of the Constitution.
Beloved has been given a dispensation from the charity commission for publishing the names of its trustees
Key Management Personnel Remuneration
The trustees consider the Board of Trustees, the Director, and the Operations/Finance Lead, as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. Details of trustee expenses and related party transactions are disclosed in note 4 & 12 to the accounts.
Trustees are required to disclose all relevant interests and in accordance with the Trust's policy withdraw from decisions where a conflict of interest arises. The pay of the key management personnel is reviewed annually by the trustees to ensure that it is fair and not out of line with similar roles.
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OUR OBJECTIVE
To relieve poverty and hardship, in particular by working with those involved in prostitution or at risk of being drawn into prostitution as a result of unemployment, poverty, deprivation, financial hardship, illhealth, or disability and to do so:
(i) for the public benefit; (ii) throughout the United Kingdom, (iii) in pursuance of Christian principles; and (iv) in accordance with the Statement of Faith.
OUR MISSION
To support women working in any area of the indoor sex industry including parlours, escorting and online, in Bristol and the surrounding areas, promoting the dignity and self worth of every woman that we meet. Whether they are remaining in the industry, seeking to leave or have already left, we walk alongside women, raising their awareness of opportunities and supporting them to address any physical, emotional, economic and spiritual needs they may identify.
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A LETTER FROM THE CHAIR
Dear Friends,
At Beloved we focus on seeking the flourishing of individual women, and we have been encouraged this year to witness that flourishing, as women move on in finding safety, accommodation, employment, and improved mental health.
Flourishing can only be brought about by patient, one to one, walking alongside our women; developing their wellbeing over a period of years, being led by their needs. Our wonderful Women’s Workers skillfully and faithfully navigate that journey with them.
Flourishing is slow work, quick outcomes are not anticipated, but we are confident that the work Beloved carries out will increasingly contribute to the social benefit and wellbeing of the city of Bristol as a whole.
We are thankful to our generous donors for the financial resources that have enabled us to achieve our strategic aims this year and also for our many wonderful volunteers who give of their time and talents in organising events and accompanying our women on outings.
But we will not allow ourselves to become complacent. We recognise the work that is required to maintain our achievements, and create the growth and expansion in services and innovation we aspire to.
All charities have been impacted by the current uncertain unfavourable financial climate with increased demand for services along with funders and donors being more cautious. This effect is especially detrimental to charities on the front line such as Beloved, who deliberately maintain a low profile so that we do not attract too much attention to ourselves when we visit parlours. Not for Beloved - the celebrity champion, campaigning, or lobbying.
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A LETTER FROM THE CHAIR
The convictions of Romanian Traffickers in 2024 and 2025 serves to highlight that the women our volunteers and staff work with in the parlours are likely to be caught up with organised crime and trafficking.
https://www.gloucestershirelive.co.uk/news/gloucesternews/organised-crime-gang-trafficked-women-9075812.amp
https://www.bbc.com/news/articles/c2ewv443dx3o
To that end, the collaborative working that Beloved has with local statutory agencies is something that we celebrate and seek to develop. We are grateful that the Police & Crime Commissioner is keen to tackle the issue of violence against women and girls.
At Beloved, as we move forward into the coming year, we are conscious of our challenges, but confident in our ability with God’s blessing and provision to build on our achievements, seeking the flourishing of every woman that engages with us.
“We urge you not to let those challenges to dim nor shroud the huge impact you are having every day.”
David Holdsworth CEO Charity Commission 21st May 2025.
I commend this annual report to you.
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HOW DOES BELOVED SUPPORT?
Outreach Casework Community Well-being Prayer Partnerships Referrals
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Review of Activities
Our support for women working in the indoor sex industry involves the following key elements:
Parlour visits
Outreach to meet women where they are, in the massage parlours. Our team offer time to talk alongside safety information from ‘Ugly Mugs’ and panic alarms. Many of the women we meet aren’t engaged with any other services and are very isolated. This is frontline, missional work where we share the good news of Jesus and have profound moments of connection.
One-to-one casework
Supporting women to access accommodation, employment, benefits, sexual health and primary care services as well as other specialist support within Bristol. We are able to assist women with issues such as EU settlement, provide access to short-term emergency financial assistance and liaise with our network of local supporters to meet any other needs the women may have.
Wellbeing activites
As requested by the women we have been able to offer a variety of sessions that promote the physical, emotional and spiritual wellbeing of the women we support, like movement and art workshops, reflective therapy and volunteering around local flower farm. Days out and weekends away together help give fresh hope, perspective and community.
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Impact Snapshot
Projects
Outreach
Casework
Housing
Employment
Wellbeing
Spiritual Support
Details
Visits to massage parlours and pop-up brothels.
1:1 practical and emotional support for women outside of the parlour context.
Positive move ons away from parlours and rogue landlords.
Supporting women with CVs, job applications and referrals to work programs.
Wellbeing workshops and activities, reducing isolation, increasing skills and improving mental health.
Providing an ongoing listening service, offering prayer and church connection.
1067
1-1 Casework hours completed
Women given ongoing support
56
1797
Group sessions hours completed
Wellbeing workshops, activities and trips
36
43
Parlour visits offering safety information and practical support
Outcome
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46 women given safety information and advice during visits.
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19 women supported with formal documentation including ID
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10 women moved into more secure, independent accommodation.
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11 women newly in employment, training or volunteering.
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28 women accessed wellbeing workshops, including residential camps, art therapy and group drop ins.
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45 women empowered in their faith through prayer, study and community.
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94%
Helped in reducing isolation through our wellbeing outings, meet ups and emotional support.
87%
Received faith connection through prayer, church attendance and Christian conferences.
87%
Have increased personal safety through our ugly mugs reports, safety alarm distribution and safety planning.
63%
Have had barriers to exiting the sex industry reduced through support with housing and formal documentation.
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PARTNERSHIPS
MULTI AGENCY WORKING
Beloved work with a number of organisations across the city and nationally, and are appreciative that we all play our part in the whole to provide services where they are needed for those most disadvantaged. Some of the groups we have been honoured to take part in include: International Women’s Day, Stewardship Cross Cultural Women’s event, Bristol Homelessness Forum, Women’s Rough Sleeping Census, training to the local police force.
The number of referrals from partner agencies have increased this year to 21 and include those made by: Beyond the Streets, Bristol Drug Project and Adult Social Care, with referrals made to CAP, CAB, DHI, Foodbank, Unity Sexual Health, Nelson Trust, SARSA, Homestart plus many primary care services.
This year we have been thrilled to offer our women a paid-for, direct pathway to counselling via Bourne Family Project and we continue our pathway into employment through Lovewell.
Finally, we have been able to share insights and feed into academic research: ‘A Critical Review of Substance-Use Services for Individuals Engaged in the Sex Industry Through In-Person Work’, Dr Emma Smith.
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PARTNERSHIPS United° °in Prayer
WORKING WITH LOCAL CHURCHES
We are so grateful to the church community in Bristol who so generously give resources, volunteers, profile and finances to us, but mostly gratitude for holding us in prayer .
Over the last year we have partnered across the city with churches by putting on events like our ‘Dinner and Dance’ in July; supporting women through the Cost of Living Crisis by sending out recipe kits/food packs and organising trips away to camps and spiritual retreats where women get the opportunity to have a holiday and experience a faith community.
Thanks to Woodlands Group, Hope Chapel, Life Church, City Church, Central, B&A, St Nick’s, Thornbury Baptist, Mustard Tree, E5 and TLC for their regular support and the many other churches who have kindly gifted us, invited us to speak and faithfully prayed.
“IT SEEMS TO ME THAT THE WORK OF BELOVED HEIGHTENS THE AWARENESS OF GOD’S DIVINE PRESENCE WITHIN SPACES WHICH ARE NOT NECESSARILY SEEN AS SACRED, BUT BECOME PLACES OF ENCOUNTER - AND ARE THEREFORE OVERTLY SACRED.”
Rev Patrick Stonehewer, Church Leader & Supporter of Beloved
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P)EIQNEtJ 11 £7500 IN DONATED GOODS! 1500 VOLUNTEER HOURS! 15 eLDvet)
“I LOVE VOLUNTEERING FOR BELOVED BECAUSE IT’S REALLY SPECIAL SEEING GOD’S HAND AT WORK. YOU’RE HELPING WOMEN SEE HIS GRACE AND FEEL GENUINELY CARED FOR, AND IT’S SUCH A JOY TO BE A PART OF SOMETHING THAT SHOWS THEM HOW GOOD GOD IS. ALL THE STAFF AND VOLUNTEERS ARE REALLY LOVELY TOO!”
LAURA, LOCAL BUSINESS OWNER AND VOLUNTEER WORKSHOP LEADER
BAKING CUPCAKES TO LEADING OUTREACH, BEFRIENDING TO FUNDRAISING, RUNNING WORKSHOPS TO RAISING AWARENESSWE COULD NOT DO IT WITHOUT OUR VOLUNTEERS!
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Elena’s Story
We were introduced to Elena through one of her friends that we met on outreach into the parlours. She is originally from Romania and had been in the UK a while, having been offered work, a home and promised a better life here. The work ended up being in various parlours selling sex. She wanted to exit, find a different job, and bring her child to live with her in the UK.
Although Elena speaks some English, she was struggling with the confidence to do things herself and needed support to be shown how. Our Romanian caseworker was able to help her apply for the correct benefits so she had some income to leave the sex industry, and advise her around housing, as she had been living in the parlour. We helped her with immigration documentation and referred her to a local food bank when she had no food. We were also able to offer her our hardship payment of £80 a week for six weeks whilst she waited for the benefits she had applied for to start. With this support Elena was able to find somewhere to live and make it home.
We spoke with her about jobs that she might like to do and she found work as a cleaner. When her daughter arrived in the UK we were able to support her in applying to a local school and link her in with some community provision, however Elena was struggling to get to work and home in time to pick her child up from school. We therefore funded an electric bike for her so she could get around quickly. This has enabled her to maintain the job long term.
Elena and her daughter are now thriving and we continue to meet with her for emotional support and to help with any practical aspects as she identifies them.
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“I AM DEEPLY AND TRULY GRATEFUL FOR BELOVED’S SUPPORT, FOR THE HELP AND CARE YOU’VE SHOWN ME. THE FACT THAT I’M DOING WELL TODAY – IN FACT, BETTER THAN EVER – IS ENTIRELY BECAUSE OF YOU. FROM THE BOTTOM OF MY HEART, THANK YOU. I WILL BE FOREVER THANKFUL FOR HOW YOU PULLED ME OUT OF THE DARK, BROKEN LIFE I WAS LIVING. BECAUSE OF YOU, I’VE BECOME THE PERSON I AM TODAY – SOMEONE COMPLETELY TRANSFORMED, FULFILLED AND GENUINELY HAPPY.”
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S T U D E N T S I N T H E S E X I N D U S T R Y
Beloved felt it a priority to explore the concerning trend of university students in the UK turning to the sex industry due to financial pressures, therefore we launched a pilot project, in September, aiming to connect with female students safely and non-judgmentally. By collaborating with universities, students, and other organisations, we sought to understand who these students were, their real and perceived needs, and how to support them.
Survey Says
Previously or Currently Engaged 5.2% Considering 20.9%
Wouldn't Consider 74%
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Survey Says
Types of Sex Work Bristol Students Engage In
5 4 3 2 1 0 ~~Hlilttans..~~ 77% 77% xe Conceal from everyone or Reported it was necessary almost everyone. for financial reasons.
Reported it was necessary for financial reasons.
“I STARTED (SUGARING) DURING THE FIRST TERM OF UNIVERSITY; I’M ESTRANGED FROM MY PARENTS, SO FUNDING MY LIVING COSTS FELT PARTICULARLY STRESSFUL EVEN WITH BURSARIES. “
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Director’s View
2024/2025 has been a very positive year for Beloved organisationally. Our focus was to move from a position of stabilising after a tough financial period, to one of growth, and we have seen that in our service, team and finances.
However this growth alerts us to the need there is: we have increased the number of parlours visited to 16 from the 5 visited during Covid years, having seen new massage parlours open and been alerted to others. We have also received an increase in individuals referred for casework with many women struggling with the cost of living. Whilst we are glad we have grown our capacity to meet this, it sadly shows how much more there is to do in this very hidden sector of society.
An additional focus for us this year has been our student project. We employed a Project Lead to take on a pilot, connecting with Bristol's two Universities to open a conversation about students engaging in the sex industry. Through our on-campus surveys we found local figures matched the national statistic of 20% of students considering it as a way to subsidise their income. More worryingly, 0% stated they would go to their Universities for support. We want to be available to those students and other young women in our city and we will continue these partnerships to develop what we have started.
Income - we have been successful in achieving our grant income, setting us in a good position for the next year and with some multi-year funding, are thankful to be in a secure position. For this we are very grateful to our funders and donors. Community fundraising has also been on the increase with a wonderful fundraising event in the summer, held at Woodlands Church, with an auction, live band and three-course meal. It was a chance to celebrate all that Beloved has achieved with much support and care from Bristol and the wider community.
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Looking towards the coming year, we are thrilled to have received funding from Quartet for a researcher who will spend a year with us, getting to know the women we support and finding out from them how we can best serve them, which will feed into future direction for the charity. We will be pleased to share those findings next year.
We recognise that we play our part, alongside so many other amazing organisations, services and faith groups in reaching some of the most disadvantaged. It is a privilege to partner with them and be in a city with such unity and pioneering spirit. We extend all appreciation to them and to the women Beloved has the joy of journeying alongside, who show resilience, faith and beauty in the midst of difficulty - we honour you all.
I leave you with the words below that resonated with me on a recent mission trip to a drug rehabilitation centre in Swaziland. As I observed these lives transformed, now full of joy and hope, I reflected on how Jesus likes to take those society has marginalised and overlooked and shine His glory through. True for us all when we feel of little worth and an encouraging reminder for the women we meet on our outreach. At that moment it seemed to me that Jesus was very pleased with all of us, even with our baggage and broken bits and wanting to make it very clear that in His upside down kingdom, His light and love was winning out!
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Finances
The charity's income in the reporting period to 31 March 2025 was £378,524 (2024: £203,416). Expenditure was £177,714 (2024: £136,262).
This year has been a positive one financially for Beloved, with income having significantly exceeded our expected budget. As a result, we have been able to increase our reserves to a more fitting level given the relational nature of Beloved, and look towards growth.
The increase in income has been largely due to the employment of a Grants Fundraiser for two days a week who has worked hard to secure us multi-year funding. Also the appointment of a new role: ‘Engagement Coordinator’ in 2023 has grown awareness of our cause and gained us generous financial support from both regular and one-off donors.
With the additional funds we plan to enlarge our frontline team with an additional caseworker and increase the capacity of our core office team to balance the increase. We will continue to look for ways to develop our service to meet the needs of the women we support.
I t is important to note that due to this year’s increased income, the Independent Examination of our accounts has been carried out on the accruals basis rather than the previous receipts and payments basis. This means that Grant Income of £136,000 (split between £106,000 of unrestricted income and £30,000 of restricted income) due to be received in future financial years has been recognised as income within this year’s accounts. The 2023/24 financial year figures have also been restated in this year’s accounts for comparative purposes.
Reserves Policy
The Trustees review the reserve levels of the charity annually. This review encompasses the nature of the income and expenditure streams, the need to match income with commitments and the nature of reserves. The Trustees also take into consideration the future of the charity, the uncertainty over future income streams and other key risks identified during the risk review.
Total current funds are £323,286 of which £61,491 is held in restricted funds. Further explanation and the nature and purpose of each fund is included in note 10 of the financial statements. The current level of free reserves is £261,795, which is inclusive of £106,000 unrestricted accrued income to be received over the next few years, and the trustees believe that this is sufficient to meet contractual liabilities should the charity have to close or cease activity for any period.
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(bj T• 24 eLDveD
gELDVEb orie hello@beloved.org.uk www.beloved.org.uk Registered charity number 1170261 25
Statement of Trustees ’ Responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the trustees on 19 November 2025 and signed on their behalf by:
Alison Wint Chair of Trustees
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Independent Examiner ’s Report to the Trustees of Beloved
I report to the trustees on my examination of the accounts of Beloved (the Charity) for the year ended 31st March 2025.
Responsibilities and basis of report
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Joshua Kingston BSc ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date:
19 November 2025
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BELOVED STATEMENT OF FINANCIAL ACTMTIES YEAR ENDED 31 PIARCH 2025 R•&tsl Unr••trlet•d ft•¥trfeld Total Fund• Tt4l FLmd• F Fund• 2Q25 2024 arxl 297.5C6 0.319 377.824 70) 203.145 271 Total I•m• 80.319 378.S24 203.416 96.782 177.714 136.282 Toi•l •xp•ndlturn 80.932 96.782 177.714 1J6.282 N•t Ineèm• I l•xp•ndll¥Trl N)nt In lund• 217.2n 116.4ts31 2CII.810 87.1S4 Tolal ldI It •tsrt oly1 122.476 SS,322 Totsl ldI 4t •nd ol ymr 261.795 61.491 323.286 122.476 Th• ¢hwlty h•• no rK4)wl••d ykn• dh¥ Ilw th• r••ull• for lh• y••r •• ••1 tyjt •h¥•. Al ol th• ol th• chtyw• diMd ts conlThip. 28
BELOVED BANCE SHEET As AT 31 MARCH 2025 R•81#•0 2024 2025 138,860 190.919 t4J.791 86.679 Cafh ai bank IwJ 327.779 127.470 LI11111• Cr•thlorn ." ¥ynts l•lllrwJ +Jrt• ywr 14,493) 323,288 122,476 N•1 122.476 FUMO8 11 11 281,7 61,491 44,$22 Tl,954 R••trl¢i•d fvnd• Tot•1 fvnO• Th••• Itsio ww• •wrrhd ty th• ffju.NIivlTr¥tr..... IW•d on Ih• b•hdlW. 2025 wirt Chdr ol Tr10•* Th• no1•• X+ to 30 tomi p•rt •fth•w ftnw¢W •t•lwnwl•
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BELOVED NOTES TO THE FINANCIAL STATEMENTS YEAR ENOEO 31 MARCH 2025 1 poll¢l•• leondnu•d) C•Bh Cath 81 tw and cash in h•nd irthyJp6 ¢è£h slKt term Nglty L In¥B¢trMnts thurt miiwty ol ilm mDnih# s from d818 ol acwlsthn or ol iha depNil w slmllw KcounL CroOkloTs WO re5• ¥thefe chanty sent result frLWTh a past evont that 11 probqbty ro61 th• trgnslw ol fuThJs lo a thlrf party rnnt due to 08111• th• 0ryatn con b• m•aBw•d or •5MIled rla. Cr•th"torn • reco1•d 41 Ih• thlUqm8nt•motht Allqr 4lhDW¥lg for ffj tr#d• dIie¥ dw. Fund •Ecountk UrKa151ricl•O funds ¢•n b• u••d In ¢¢•rdw• th• eWIth oblxts •¢ th• thr•tlM ¢1 th• tr1. A•Led lund• be umd lu pwbculllr iMtrkt•d wIlh Ihry ctycts ol th• Crity. R•Stm h•n wJ•cW by th• dLmor orwhen aw• pwlthlor rnslrfclod pwpo•u. O•wnBl•J fvndi lorrn pwl d wr•oInc hJTrJ• arKI bwn Ident a• be9 fw partknr pp0 by th• Tn. Th•y 4r• fiot r••lrd•d •rAI cw b• 11 io ILmd• •1 •y Iwn• •1 lh• dl•rr•lth ol th• Tru¥t•M. Furthw •Y?natIOn ol lh• v•J pUryts ol lund18 In not• 10 al hn•rSal th1•. 2 kn¢om• from.. Don•thn• nd Iwel•• Uni••lrh¢¢•d Fund• R••trkl•d Fund• T•l•l Fund• 202S 72.130 2,834 8.780 205.263 8,492 72.138 2,834 8.780 286.582 8.492 Funthiiiino doMlh)n• ).319 9Dod• •wv 377 824 y•¥ C4)Awwth••. R••i•l•d U••d R••lAci•A1 FLY)d¥ Tot•1 Fw 2024 13.758 1.210 29.21YJ 7,177 139.958 6.210 49.800 Funthiwng don•ikn8 gn1¥ rx•lv•d De1 good• 101.8tr) 31
BELOVED NOTES TO THE FINCIAL STATEMÉNTS YEAR ENOEO 31 MARCH 2025 Re6lai•d Total 2024 T•t•l 2025 EmplonI •nd •ub¢ty•¢lty• ¢o•ts 118.079 10282 19.368 94,014 8.462 mltra nd •%[ThU ¢osl• 1.440 11161 210 Funth8 4,649 Ev•rts 3.816 2,248 8.492 7,177 3,042 4 N•¢ Ineomtyll•Mp•ndiur•l lor th• yw Irthp•nd•rt Exthn•f• r•tNnw•kni 1 TrLW•U b•Bn r•imtsJr•qd lor tr•inlr4 and m•mbttrnhlp ¢¢411 01 £11312024." No Tru8iw IN £NII. l Trwt•• rx•lv•d f•mkmwthn ymr lor counr cojr s•r¥lc• l• 8WIll0 Clw•• 7 01 ch4 C1. TOW rrymunor•iion to Truiiorf vi I• w•1 El.00312Q4.. No Trvot••i lor ÉNII 4grngAt• don•ttoM Irom Tr1•, k•y M•t p•rnonnd, •nd ath•f Mht•d p•rd•• w• t4.20712024. É2,gCQI. Th• p•yYdl ¢oits wiAIi'. 2Q25 3r24 Ways & salarf•• So¢il Mcurfiy te•ts P•n¥t•) wnthbjllr 111.340 1.473 88,9BS 118079 No r•cets•d alUm•n of thon É60.rth. Th• a¥•fty• w00Y numb•r d •mF)b•i durfng tho s•r 712024.. 61. coknlal•d on th• ba olv•rty• hMdcthmL Th• b&$ r8¢•ivqé by k•y man1 incl1 •mplty•r in$uraneq And •mpb)•f ¥Yr• t41.481 I24.. £43,791).
BELOVED NOTES TO THE FINANCIAL STATEMENT3 YEAR ENoeD JI pACH 2025 7 S¢•lwMntol Fkn•n¢l•l **ll¥lll•• ¢tywth• R••tsl•d Vnrn•lJkl•d R••trl¢t•d Fund• Funds Fund• Forth• •nd•d 31 M•r¢h 2024 101,34S 271 101.0fy) 203,145 271 101.616 101.8 203.416 EJEp•ndllur• on: Chaotable •(Iwilb 102.345 33.917 136.282 Tot41 •xp•nthtw• 102.345 33.917 138,262 M•t In¢¢Ml•l1•> forth• ymr 1729> 87.883 87,154 150} 187,1541 N•t mov•m•nt In lund• IT191 67.933 87,154 Tot•1 fvnJ• •¢ oly••r 45,301 10.021 $5.322 To1•1 •¢ •nd •f 77.954 • D•lrtorn 5)24 Pr•pfjym•rt• 791 136.11 • Cr•dllorB: •fflount• hlllnp du• wilhbn y 2024 Trnd• L7•¢hla 1.027 781 590
BELOVED NOTES TO THE FINANCIAL 3TATEMENfd YEAR ENDED 31 IAARCH 2025 10 Mov•m•nt For th• y•ar •nd•d J1 Atsrch 2026 At 31 IAr 2025 2024 Exp•ndltur• Vnr••¢rfct•d lund• Gllnwl Funds 44,522 298.205 IIJO.9321 X1,795 RMtrld•d lundA Nmnymous". fvrynDil Fkn lor Al 278 12761 12Q.0Cl I15.OCl 13.90DI 17.4771 128,3401 19971 14151 15,iNJQ Fund 6,138 1,192 e4,883 1,167 2,727 3.715 30,$43 Ini John Jam ymou8." O•v•Wng Work BortlYwl¢k Fund Jwt81. conWnuty FounthUon RKnc0 10.rijo 9,81• 10.t 17.5S51 15C•Jl (2.1291 2,MS SI SI•Fth•ns & St Jomw- C orélnolor 3,8ty) 1,671 PTwr•mr 11,8151 13.5891 1.431 Totsl fvnd• 122,478 177.714 323,286 Fund D••¢rfpllon• R••trl¢i•dFund• Awknt. Cl7chwdi C&il•rnno•.A dorwlbn lor l•ff lo • Imm 4w•y lo YJrc•th vn•rf eurf•r•nc•.' ynKJui.' Fkn. Gr•ni for tllry ol • film prn0t8 wr • •har• intrm•tk>n Ol tyjr Ayk •xt•rn•lts. Awd8 For the fundlr¥J tyk' mwog•d IrJ coortht•d by th• Irwrfhbon work•ff •KI11 r•8trlcl8d to Ihdr Balwy. Bwd•n Trust. Flrfing lor ts ul•ry ol • Wtyn•n's $Lwort work•r. CM8knas g1ft8- Funthr4 lor ow CM81rn6 g¥ty IN wonK dthlp Fund.A d#•tllLmd for •m•rg•r wwieo•ts lar*eth. Jom J•m#. Funfjr• fOrth•ty pr¢iKts-
BELOVED NOTE8 TO THE FINANCIAL 8TATEMEMT8 YEAR ENDED 31 MARCH 2025 1• Mowm•rt kn fundl (coftllnu•d) knxvmo.' cw8nq Fundb r•Niv•d fry lh• u•• ol nvw d•v•lopMw •i¢lAkn9 knwards ol• ¢• NW BOrffr1(k Fund. Icr hryATrJ. xt•rr¥nDd•th7n •rJ Comn¥JrMty Fowd#ii(th R•slll•rK•. For m•no1•l 1••N¢•. • r•wr¢h•t 4r r•l•t•d M•1• tts ¢ty1 •n •udit of lh• th•r n••d•. Itel Ewis Fund- Cirf• (ts Ir•nl u111•1 l>J¥iel Pok• & Crkno Comrrnssth¥. Fwdi iow4rth roil d Imng rylih. Lthd fvr ¢•wKrt•r •knk•• )Iw l)J¥t•l WWb•ty Wothlv)p•. To lid•Won. crmnundy •Thl off•r th• w¢xn•n • thw¢• to b• In a4¥¥)1 •milrorNnt, •Mmpl• rb. da, ar• vl. Rffil•h•w Ch•dl•s Ctynmlll••- Vrf•V¢y)¥ •nd Pport (knl glv•n kn • to •l•rt th•lr tsJ•lM•& Sl•th•n & Sl CO1d11 fy1. Awrd•d ItYthvth thth iayof n Ew•m•nt St Slqth•n8 & St Jamm PJrtur Proy•mm•- Wully•lt¥J e¥•k)ts l•r 1¥1¢ u•thw. W••ii"Il •)w•••, ml• •TrJ •UPF4M- JN•ph Rwlk Truii. A i¥y. Fwth• y••r •nd•d J1 Atsr¢h 2024. R•Jt•l•d At 1 •rf1 2023 31 Ilw¢h 2024 lTrEom• Ewdllw• Tran•l•ff• Vnr•thct•d fun GBnur•l FI6 Fur JLX•FO R•nk Tru 39,021 101,818 198,t651 Iso) 6.280 18.2&Jl so R••lrl¢t•d fvnd• A Wlnl. ChrdS 718 278 S.(A)O I,0 Is.c¥)Ji 11.ogjl Dlratl GMi$ 14rWtym G•fvld Weoton FuThY Jthn j•8 AyMOuS.. Cweknwng BOrffrl¢k Fund 93 2.711 19391 11.0751 18.1081 io.t•]o 1.167 1.187 art Pc• & Cthe Comrr•b•th•t 1S.IXiII 14.4881 11.2c•)I tel W•&boty Wortthip St St•08 & St J•8 50 Ttytsl fvn¥ 56.322 136.282 121476 35
BELOVED NOTES TO THE FINANCIAL 3TATEMENT8 YEAR ENDED 31 111CH 2025 11 •f n•t b•t••n fun G•bMrnI Fund• It 31 Il•r¢h 2025 Fund• Totsl 61,491 281.795 323.286 61,491 261.795 323.286 G•n•r•l Fynd• At J1 IAvch 2024. R••l&t•d Fund• Totsl 77,954 44.622 122.478 12 Rdal•d p¥ty tr•rffjKtbon• TTrr• •r• no tr•rt•dKJrA h Itu•1 IX ollw r•l•t•d pwth• )thw Iw kn)•• dKS)••d •• iw4uknd ty th• SOAP 13 Prfor y•w rn•t•l•mwts Th• a¢¢w)t4 hwe Frywed lh• •¢¢nMts bmli y74r •TrJ fv yw•ccourrti wur• Fknp*•d on th• bnd p•>Tn801s 1. Thwofor•. th• piwjr yJ•r h•v• bmn roglaled lor ctynwrntfv• pwposei.