Charity number: 1170596
THE RELAY TRUST
UNAUDITED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2020
LUBBOCK FINE LLP
Chartered Accountants
Paternoster House
65 St Paul's Churchyard
London EC4M 8AB

THE RELAY TRUST
CONTENTS
Page
Reference and Admlnlstratlve Detalls of the Charlty, Its Trustees and Advlsers
Trustees. Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Flnanclal Statements
9-16

THE RELAY TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2020
Trustees
Neil Smith
Rogeria Mulrine
Charity registered
number
1170596
Principal office
54 Upper Monlagu Street
London
W1H 1SL
Accountants
Lubbock Fine LLP
Chartered Accountants & Statutory Auditors
Paternoster House
65 Sl Paul's Churchyard
London
EC4M 8AB
Page 1

THE RELAY TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2020
The Trustees present their report together with the financial statements of The Relay Trust (the Charity) for the
year from 1 April 2019 10 31 March 2020. The Trustees confirm that the financial slalements of the Charity
comply with the current slalutory requirements, the requirements of the charity's governing document and the
provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts
In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
leffeclive 1 January 20191.
STRUCTURE. GOVERNANCE AND MANAGEMENT
The Relay Trust is governed by a Trust Deed dated 19 March 2016.
The Deed names the Initial Trustees and sets out the means by which further Trustees will be appointed
Iclause 71. This sets out that the power of appointing new Iruslees is vested in the Settlor, and In the case of his
death, in such person as Is nominated in his will or by the remaining Trustees.
The only Iimilation on the choice of Trustees is that the total number cannot exceed eight.
OBJECTWES AND ACTIVITIES
In setting the objectives and planning the activity of the charity, the Trustees have given careful consideration lo
the Charity Commission's general guidance on public benefit.
The objectives of the Charity include to promote the education, including social and physical training, in
leadership, ministry, agriculture, enterprise and governance of people, all in accordance with Christian principles
of people in such ways as the Charity Trustees think fil, including (but not limited tol by..
awarding lo such persons scholarships, maintenance allowances or grants tenable at any university,
college or institution by higher or further education.,
providing In their education (including the study of music or other arts), to undertake travel in furtherance
of that education or to prepare for entry to any occupation, trade or profession on leaving any education
establishment.,
supporting the construction, maintenance and operating costs of any university, college or institution of
higher or further education,.
supporting the further training of the staff of such institutions including ftjrther study, in service training
and attending conferen￿$,. and
providing grants to and co operating with others to assist with the above objects.
Iv)
The charity aims lo provide facilities, supplies and serviTrs lo advance health and lo save lives, this includes the
prevention or relief of sickness, disease or human suffering.
To advance citizenship and community development, lo include providing support for social and community
infrastructure in such ways as the charity trustees think fit, including (but not limited tol..
the promotion of civic responsibility and good citizenship.,
the promotion of urban and rural regeneration.,
liiil the promotion of volunteering
livl the promotion of the voluntary sector
Iv)
promoting the efficiency and effectiveness of charities and the effective use of charitable resources,. and
Ivil the promotion of community capacity building.
To advance the religion in such ways as the charity trustees think fil, including (but not limited tol..
the provision of places of worship.,
raising awareness and understanding of religious beliets and practices.,
carrying out religioLJS devotional acts," and
carrying out missionary and outreach work.
Page 2

THE RELAY TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2020
To prevent and relieve poverty, in such ways as the charity trustees think fit, including Ibul not limited lol..
grants of money.,
the provision of items {either outright or on loan) such as fvrniture, bedding, clothing, food, fuel, healing
applian￿S, washing machines and fridges.,
liiil payment for serVI￿S such as essential house decorating, insulation and repairs, laundering, meals on
wheels, outings and entertainment and utilities.,
livl the provision of facilities such as the supply of tools or books, payments of fees for Inslruclion,
examination or other expenses connected with vocational training, language, literacy, numerical or
technical skills, Iravelling expenses to help the recipients lo earn their living, equipment and funds for
recreational pursuits or training Intended lo bring the quality of life of the beneficiaries lo a reasonable
standard., and
Iv) the provision of money management and debt counselling advice.
ACHIEVEMENTS AND PERFORMANCE
During the year to 31 March 2020 The Relay Trust structured the delivery of the Objectives and Activities around
four key pillars..
Developing training methods appropriate for the African context.,
Providing structural support for churches with limited income operating in challenging environments.,
Implementing a long-term strategy lo support the development of training material In French.,
Supporting the operating and capital costs of training colleges.
Develo
Trainin
Methods
Led by Rev Mette Klausen, Relay Trust is developing a syllabus to train leaders in African churches. This
syllabus focuses on the use of appropriate language Ibolh European and triball, supported by examples and
Illustrations that are relevant lo the learning context. and adapted to the loftenl poor prior learning experience of
the trainees. This syllabus Is designed to be delivered through multiple channels lelectronic and written) and
leaching environments (village groups, colleges and on-line). Mette is supported by Issa Maguey (media
applicalionsl and Fidele Eljeke IEnglishlFrench Iranslationl. They are both based in Cameroon.
In parallel, Rev Alex Klausen leads the development on the On-Line Well, a small, portable WIFI transmitter that
will deliver training materials directly lo mobile phones In the village context. These areas lack reliable and
affordable Internel connections. The prototype deviTr was successfully tested in Sierra Leone and Guinea during
201912020, and development is now focussed on manufacturing and ulilising production models. Alex Is
supported in software development by Lars Gunnarsson (based In Switzerlandl and Brian Ward, an e-learning
specialist with experience in Papua New Guinea and now based in the United Slates.
Relay Trust is supporting the construction of the Mount Zion Training Centre at Mortem, Sierra Leone. Mount
Zion will become the centre for the distribution of training materials through the On-Line Well in West Africa,
providing a location for training trainers and developing training resources.
Relay Trust continues to develop a ne￿Ork of organisations who have a similar focus, and five team members
attended an international conference in The Nethedands in 2019_
Structural Su
Relay Trust has developed strong partnerships with leaders of the Anglican Church in Sierra Leone, Guinea and
the Democratic Republic of the Congo. These countries all suffer from poor national governance,. political and
economic instability", weak education systems,. long-term health challenges,. a history of political violence and
banditry., and great povety. Relay Trust works with the church leaders in these countries to enable them lo
maintain organisalional integrity, including the payment of wages, and lo train and support the next generab'on of
leaders. During 201912020 specific support was provided as follows..
Page 3

THE RELAY TRUST
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2020
In the Diocese of Freetown, Sierra Leone, lo provide salary support whilst a building that was the main
source of income is reconstructed. Payment has also enabled the Bishop lo employ a PA, the Diocese to
purchase a reliable FVVD vehicle, and set up a library lo support training Initiatives.,
In the Diocese of Bo, Sierra Leone, lo provide salary support during a period of significant Internal division,
and the development of a prO￿sS lo assist in the election of a new bishop. A reliable vehicle was also
purchased for the Bishop.,
In the Di0￿Se of Guinea, Guinea, lo provide salary and adminislralive support to enable the Di0￿Se lo
maintain Income generating activities, including a medical clinic and a school.,
In the Anglican Province of the Congo and Brazzaville, to provide salary and administrative support for the
national leader, Archbishop Masimango Katanda.
Relay Trust also supports the training of church leadership through GAFCON Ilhe Global Anglican Futures
Conference). GAFCON provided training opportunities for church leaders in Jerusalem, Dubai and Rio de
Janeiro, and oversaw the Bishops Training Institute, which provided conferences during 2019-2020 attended
principally by African bishops.
The delivery and oversight of this support has been led by Rev Alex Klausen, supported in project management
by Anders Nielsen and Maria Silkjaer {bolh based in Denmarkl.
French Lan
ua
esu
ort
The development of training material in French Is limited by the resources of the Proleslanl churches in France.
Relay Trust supports European Collaboration, through which new churches are supported in France.
ortin
Colle
es
erations and ca
Relay Trust supported the construction of the Guil and Borana Training Centre in Adolla, Ethiopia. The Trust also
provided for the salary of Rev Mesfin Birhanu, a national training co-ordinator for the Four Square Gospel
Church.
The Relay Trust believes that the most effective way for churches in difficult locations to become sustainable
organisations that can continue lo deliver spiritual and community leadership is lo develop a well-educaled cadre
of local leaders. Training will enable these leaders lo have a clear understsnding of the message of the
Christian faith, the context in which their congregations live, and the capacity to apply this leaching to the
challenges of their communibes.
FINANCIAL REVIEW
As at 31 March 2020 the Trust had £1,272 in the bank.
During the year, income tolalled £676, 173, consisting of £676, 169 in donations and gift aid and £4 in interest.
Expenditure was £1.342,253. consisting of £1,076,886 in direct grants lo partners in Africa, £246,974 in staff
contracts and travel, £5,814 in legal and accounting fees. £2.237 in bank charges and £9, 160 in administrative
costs. This resulted in carried forward nel liabilities of £573,595 arising from the unpaid committed donations
lotalling £702,909 as at 31 March 2020 which will be funded by donations from Trustees and other related
parties. The Charity does not have a reserves policy as sufficient funding is received from Trustees and related
parties to cover expenditure for each year.
This report was approved by the Trustees and signed on their behalf by..
Neil Smith
Trustee
Dale.. 28 January 2021
Page 4

THE RELAY TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2020
Independent Examlner's Report to the Trustees of The Relay Trust I'the charlty'l
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March
2020.
Responslbllltles and 8asls of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 I'the 2011 ACVI.
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 the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent Examlner's Ststement
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 l am qualified lo undertake the examination because l am a member
of the Institute of Chartered Accounlanls in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come lo my attention in connection
with the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements concerning the fomi and conlenl of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and faiv view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other mallers in connection with the examination to which
attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stsle lo the charity's
Trustees those mallers l am required lo slate to them in an Independent Examiner's Report and for no other
purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility to anyone other than the
charity and the charity's Trustees as a body, for my work or for this report.
LL Fa4
Lee Fa￿Y
Independent examiner
Lubbock Fine LLP
Chartered Accountants
Palernosler House
65 St Paul's Churchyard
London
EC4M 8AB
Dale..28 January 2021
Page 5

THE RELAY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2020
Unrestrlcted
funds
2020
Total
funds
2020
Total
funds
2019
Note
Income from:
Donations
676,169
676,169
541,556
Investment income
Total income
676,173
676,173
541,564
Expenditure on:
Charitable activities
1,342,253
1,342,253
504,533
Total expenditure
1,342,253
1,342,253
504,533
Net movement in funds
Reconciliation of funds:
1666,0801
1666,0801
37,031
Total funds brought forward
Nel movement in funds
92,484
1666,0801
92,484
1666,0801
55,453
37,031
Total funds carried fop•vard
1573,5961
1573,5961
92,484
The Ststement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 10 16 form part of these financial ststements.
Page 6

THE RELAY TRUST
BALANCE SHEET
AS AT 31 MARCH 2020
2020
2019
Note
Fixed assets
Intangible assets
Current assets
20,785
Debtors
Cash al bank and in hand
110,617
1,272
84,699
9,585
111,889
94,284
Creditors.. amounts falling due within one
year
1706,2691
11,8001
Net current liabilities l assets
1594,3801
92,484
Total net assets
1573,5951
92,484
Charity funds
Unreslricled funds
1573,5951
92,484
Total funds
1573,5951
92,484
The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by..
tsmd
Neil Smith
Trustee
Dale.. 28 January 2021
The notes on pages 9 10 16 form part of these financial statements.
Page 7

THE RELAY TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2020
2020
2019
Note
Cash flows from operating activities
Nel cash provided by operating activities
10
12,467
8,876
Cash flows from investing activities
Interest income
App development costs
120,7841
Net cash (used inyprovided by investing activities
120,7801
Chango in cash and cash equivalonts in thg ygar
Cash and cash equivalents al the beginning of the year
18,3131
9,585
8,884
701
Cash and cash equivalents at the end of the year
11
1,272
9,585
The notes on pages 9 10 16 form part of these financial statements
Page 8

THE RELAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Accountlng pollcles
1.1 Basis of preparation of financial statements
The financial slalements have been prepared in accordan￿ with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The Relay Trust meets the definition of a public benefit enlily under FRS 102. Assets and liabilities
are initially recognised al historical cost or transaction value unless otherwise slated in the relevant
accounting policy.
1.2 Going concern
The accounts have been prepared under the going concem basis, which assumes that current and
future sources of funding will be adequate for the charity's needs.
The charity meets ils running costs from donations received. The Trustees continuously review the
funding prospects and expenditure levels and take action should funding expectations and reserves
appear inadequate. On the basis of this policy, the Trustees consider that the charity will continue in
operational existence for the forseeable future. In forming this assessment the Iruslees have taken
into consideration the impact of COVID-19.
1.3 Fund accounting
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designated for other
purposes.
1.4 Income
All income is recognised On￿ the charity has entitlement lo the income, it is probable that the income
will be received and the amount of income receivable can be measured reliably.
Donations received with imposed reslriclions are classified as reslricled funds.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity., this is normally upon notification of the interest paid or payable by the Bank.
Page 9

THE RELAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Accountlng pollcles Icontlnuedl
1.6 Expendlture
Donations payable are charged in the year when the offer is made except in those cases where the
offer is conditional, such donations being recognised as expenditure when the conditions allaching
are fulfilled. Donations offered subject to conditions which have not been mel at the year end are
noted as a commitment, bul not accrued as expenditure.
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third
party, il is probable that settlement will be required and the amount of the obligation can be measured
reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs are
allocated to the applicable expenditure headings and activities of the charity.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity
and include governan￿ costs.
1.7 Intanglble assets and amortlsatlon
Intangible assets are initially recognised at cost. After recognition, under the cost model, intsngible
assets are measured al cost less any accumulated amorti'salion and any accumulated impairment
losses.
All intsngible assets are considered to have a finite useful life, which must be reviewed al each
reporting dale. If a reliable estimate of the useful life cannot be made, it is presumed to be no more
than len years.
Amortisalion is provided on intangible assets al rates calculated to write off the cost of each asset on
a straighl-line basis over its expected useful life.
1.8 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.9 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet dale as a result of a past
event, it is probable that a transfer of economic benefit will be required in setdement, and the amount
of the settlement can be eslimaled reliably.
Liabilities are recognised al the amount that the charity anlicipales it will pay lo settle the debt or the
amount il has received as advanced payments for the goods or seNices it musl provide.
Provisions are measured al the best estimate of the amounts required to settle the obligation.
Page 10

THE RELAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Accountlng pollcles Icontlnuedl
1.11 Flnanelal Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments a￿ initially recognised at transaction value and subsequently
measured al their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
1.12 Taxatlon
The Relay Trust is a registered charity and based on the activities undertaken is not liable for UK
corporation tax.
The charity was not VAT registered during the year and therefore all expenses are inclusive of any
VAT which cannot be recovered.
Income from donatlons
Unrestrlcted
funds
2020
Total
funds
2020
Total
funds
2019
Donations and gift aid
676,169
676,169
541,556
Total 2019
541,556
541,556
Analysis of expenditure by activities
Activities
undertaken
directly
2020
Support
ost5
2020
Total
funds
2020
Total
fvnds
2019
Charitable activity costs
1,295,343
46,909
1,342,252
504,533
Total 2019
486,876
17,657
504,533
Page 11

THE RELAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Analysls of expendlture by actlvltles lcontlnuedl
Analysls of dlrect costs
Total
funds
2020
Total
funds
2019
Wages and Salaries
Donations payable
staff travel expenses
Other staff expenses
203,983
1,076,886
13,293
1,181
164,305
288,889
32,593
1,089
1,295,343
486,876
Donations payable is made up of donations to institutions of £749,559 12019 £146,231). This includes a
donation to the Mount Zion Project lotslling £466,461 12019 - £nill, Bishops, Training Institute totalling
£145,197 12019 - £119,2801, a donation to The Europe Collaboration of £42,000 12019 - £12,5001,
donation lo The Relay Trust DK of £22,871 12019 - £nill, a donation lo Youthscape of £50,000 12019
£nill and a donation to Kolo Group of £22,729 12019 - £nill. All of these donations were in line with the
Charity's objectivies as sel out in the Trustees. report.
Analysls of support costs
Total
funds
2020
Total
funds
2019
Wages and Salaries
Bank charges
Independent examiner fees Igovernancel
Legal and professional fees
Administrative fees
29,698
2,237
4,920
894
2,122
3,900
432
9,180
11,203
46,909
17,657
Page 12

THE RELAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Staff costs
2020
2019
Wages and salaries
233,681
164,305
The average number of persons employed by the charity during the year was as follows..
2020
No.
2019
No.
Average number of employees
The number of employees whose employee benefits (excluding employer pension costs) ex￿eded
£60,000 was..
2020
No.
2019
No.
In the band £60,001- £70,000
Total remuneration paid to key management personnel was £124.75812019 - £nill.
Intangible assets
App under
develop
ment
Cost
Additions
20,785
At 31 March 2020
20,785
Net book value
At 31 March 2020
20,785
At 31 March 2019
The additions in the year relate lo the development of an online learning application which was not
opererational by 31 March 2020 and therefore has not been amortised.
Page 13

THE RELAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Debtors
2020
2019
Due within one year
Other debtors
110,617
84,699
Creditors: Amounts falling due within one year
2020
2019
Accruals and defer￿d income
3,360
702,909
1,800
Donations payable
706,269
1,800
Statement of funds
Statement of funds - current year
Balance at
31 March
2020
Balance at 1
Aprll 2019
Income Expendlture
Unrestrlcted funds
General Funds
92,484
676,174
11,342,253)
1573,5951
Statement of funds - prior year
Balance at
31 March
2019
Balance at
1 April 2018
Incc>me Expenditure
Unrestricted funds
General Funds
55,453
541,564
1504,5331
92,484
Page 14

THE RELAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Analysls of net assets between funds
Analysls of net assets between funds - current perlod
Unrestricted
funds
2020
Total
funds
2020
Intsngible fixed assets
Current assets
Creditors due within one year
20,785
111,889
1706,2691
20,785
111,889
1706,2691
Total
1573,5951
1573,5951
Analysis of net assets between funds - prior period
Unrestricted
funds
2019
Total
funds
2019
Current assets
Creditors due within one year
94,284
11,8001
94,284
11,8001
Total
92,484
92,484
10.
Reconciliation of net movement in funds to net cash Ilow from opgrating activitlOS
2020
2019
Nel incomelexpendilure for the period las per Statement of Financial
Aclivitiesl
1666,0801
37,031
Adjustments for:
Interest income
141
125,9181
704,469
181
128,1471
Increase in debtors
Increase in creditors
Net cash provlded by operatlng a¢tlvltles
12,487
8,876
Page 15

THE RELAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
11. Analysls of cash and cash equlvalents
2020
2019
Cash in hand
1,272
9,585
Total cash and cash equivalents
1,272
9,585
12. Analysis of changes in net debt
At 1 April
2019 Cash flows
At 31 March
2020
Cash al bank and in hand
9,585
18,3131
1,272
9,585
18,3131
1,272
13. Related party transactions
During the year, unreslricled donations lotalling £565,42912019 - £472,231) were recieved from Trustees
and other related parties.
Page 16