Charity Registration No. 11738511 SC047797
ECHOES INTERNATIONAL
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

ECHOES INTERNATIONAL
CONTENTS
Page
Reference and Administrative Details
Tru5tees' Report
4-14
Statement of TTUStees' Responsibilitie5
15
Independent Auditorfs Report
16-19
Statement of Financial Activitie5
20
Balance Sheet
21
Statement of Cash Flows
22
Notes to the Financial Statements
23-35

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Current trustees:
Simon Prince
David Brown
Paul Coxall
Sharon Durrant
Fiona McPhail
Alan Hay Smith
Andrew Gibson
Keith Hunter
Ichairl
(Vice Chairl
Charliy re8lstered number:
1173851
SC047797
(Charity Commission for England and Wale51
(Office of the Scottish Charity Regulator)
Prlnclpal offlce:
124 Wells Road
BATH
BA2 3AH
EMecutl¥e Olrertors
Jim Armstrong, General Director luntil l October 20251
Matthew Pitt5, Mission Director (General Director from l October 20251
Mark Wood, Operation5 Director (from 29 September 20251
Audltor:
Burton Sweet Limited
The ClockTower
5 Farlei8h Court
Old Weston Road
Flay Bourton
8ri5tol
B548 IUR
Bankers:
National Westminster Bank plc
24-25 Stall Street
BATH
BAI IQF
Solicitors..
Anthony Collins
134 Edmund Street
Birmingham
B3 2ES
Investment Mana8ers'.
Rathbone Investment Management Limited
Port of Liverpool Buildin8
Pier Head
LIVERPOOL
L3 INW

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Trustee Report for 2025
The Trustees present theirannual report and audited financial statements for the period ended 31 December
2025. Echoes International is a charitable incorporated organisation ICIOI registered with the Charitv
Commission with charity number 1173851 on 18 July 2017. Echoes International is also registered with the
Scottish Charity Regulator105CRI with charity number SC047797.
The Trustees confirm that the annual report and the financial statements of the charity comply with the
current statutory requirements, the requirements of the chariW5 governing document and the provision5 of
the Statement of Recommended Practice ISORPI applicable to charities preparing their account5 in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the
Charities Act 2011 and Charities IAccounts and Reports) Regulations 2008, the Charities and Trustee
Investment (Scotlandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2006. The financial
statements have been prepared in accordance with the accounting policie5 set out in note I to the financial
statements.
Publlc beneflt
The Trustees are aware of the Charity Commission's requirement that each charity tarries out its activities
with a view to Public Benefit. We believe that this can be clearly demonstrated not only by the advancement
of the Christian Gospel around the world, but also by our regular support for many social, educational,
medical, relief, and development projects overseas. The attivities detailed in this annual report are all Carried
out for the benefit of the public we serve.
Charltable oblect5
Echoe5 International has the following legal objects, under which the charity is established:
The advancement of the Chrlstian gospel by 511PPOrting Christian mission workers, providing Bibles
and other Christian materials and by such other means as the ¢hJrity trustees may from time to time
decide,.
The relief of poverty by providing disaster relief support, including but not limited to financial Support
to appropriate organisations and associated mission workers, and by such other means as the charitv
trustees may from time to time decide;
The advancement of education by providin8 financial support for the provision of funding for
teachers, includin8 mission worker5 teaching overseas, the provision of books and equipment and bv
such other mean5 as the charity trustees may from time to time decide.
Echoe5 International, as a m155ion support group, seeks to encourage churche5 and individua15 to be involved
in cr055-cultural mission, and to express interest in and pray for mission within the UK. To achieve this we
publish news and inforrnation about mission activity across the world. We a150 distribute financial gift5 and
provide support to mission partners and believers from other countries. The Trustee report details the
activities and strategy in pl3¢e to support our aims.
Oblectlves and a¢tlvltles
Poli¢Nes (Jnd objertives
Policy decisions are taken at our reÈularTrustee meetings. These include decisions regardinÈ the compilation
of the Daily Prayer Guide I'DPG'I, which involves the addition and deletion of mi55i0n partners, the allocation
of funds for personal 5UPPOrt and specifit purposes, the 3dmini5tr3tiorb and maintenance of the office, and

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
contact with mission partners and local churches. In accordance with the regulatorfs guidance, safeguarding
is considered and discussed at every Trustee and Leadership Meeting.
5trategiesfor achieving objectives
In addition to our regular Trustee meetings. the Trustees review our strategy annually each November. A
Strategic Working Group of Trustees and Director5 meet5 throughout the year to review our direction in light
of the strategy agreed for the charity at the end of 2023. The TTUStee5 and Director5 have been working to
implement the revised strategy throughout 2024 and 2025.
The Trustees agreed 2 hi8h-level objectives for Echoe5 International
We maintain our mission-driven positiorh and outlook to cross-cultural mission
We seek to balance costslgifting with funds received.
From 2018 to 2023, Trustees were very conscious of the deliber3te overspend in our giftslcosts required to
achieve the objectives set over the past six years. This has been referenced in previous Trustee reports. The
Trustees agree that the Charity should now return to a financially sustainable model, whilst maintaining our
mission-driven stance. This was realised during the 2025 financial year.
Eight workstreams were agreed upon in 2023 and have been monitored at each trustee meeting in 2024 and
202S. These were completed during 2025. and a new. more agile approach to strategic monitoring is being
planned for 2026. This reflects the or8anisation's successful strategic reali8nment.
Echoes International's vision is.. Yo see Churches who are enthuslastlc about m5sslon sendSng new
generatlons of workers 5nto dlverse m<xlels of Gospel mSnlstrf.
We look back on 2025 and give thanks for all of God's goodness as we see His hand in Echoes International's
ministry. Some of the highlights for the year were as follows:
Activitiesfor ochieving objectives..
We continue to communicate across various channels in print. digital and face-to-face conferences. This helps
to keep followers and supporters updated with all we are involved in. Our theme for 2025 was'where Christ
is not known,, and our communications of Echoes International's work and the needs of mission continued
to develop. Our YouTube channel increased substantially in 202S, helped by seasons 4 and S of our podcast
The Same Commission. as well as a variety of short-form video content.
During 2025. the Trustees authorised the development of a prayer app. designed to bring together our
various communications streams in one place and make it easier for supporters to engage with daily prayer.
Three companies tendered for the work. Amperative was successful and worked closely with the
communications team to scope and test throughout 2025. with a view to launching the app in 2026.
We held three main conferences in 2025 in England, Scotland, and Northern Ireland, as well a5 two Women
Working for God IWWFGI events in Northern Ireland and Scotland. At all of these conference5, we focused
on our theme 'Where Christ is not known,, inviting speakers from several of our mi55ion partner5hip5, such
as Pioneers and Bra55 Tacks, to 5h¥re abouttheir ministrie5. A Wider Horiion5 weekend for young adults aged
18+ took place in February 2025, as well a5 smaller'tasterf evenings in three churche5 during late 2024.
Each year, the Trustees agree on the travel required for the following year. Travel will normally focus on
Member Care, key Strategic conference5, keepirbg the charity up to date with current mi55i0n¥l trends, and
addressing any issues arising from the mission partners listed in the Daily Prayer Guide. In 2025, Direttors
and Trustees travelled to New Zealand, the Philippines, Indonesia, Tanzania, Rwanda and France. We also
attended the European Leadership Forum in Poland.

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
At the beginning of 2021. we agreed to debrief all mission partners listed in the Daily Prayer Guide over a 3-
vear period. which wa5 completed in 2023. This continues, and during the year, 71 mission partner5 were
debriefed. We also visited 14 churches during the year.
We are grateful to God for those who are called and commended to serve full-time in cross-cultural mission.
An additional 9 long-terrn mission partners were added to the Daily Prayer Guide list in 2025, and a further
2 were approved, with their listings completed in January 2026. 11 mission partners came off the field, and
6 others moved to senior or retired status. At the end of 2025, we had 165 mission partners, compared to
171 at the end of 2024. In addition to this, at the close of the year, the mobilisation team was in the earlv
stages of mobilisation, with another 11 mission partners seeking long-term service across a wide range of
areas. The team continues to be greatly encouraged by the level of sincere interest in long-term service seen
in recent years.
El also continued to support a short-term medical mission partner during 2025. who successfully applied for
long-term listing in 2026. The short-term pro8ramme allows potential long-term mission partners to explore
service and also helps enable professionals to travel to a location where their skill set is needed, particularly
for medical missions.
A cohort of three full-course Firstservers was supported during 2025. with successful placements in the UK
and overseas. In addition. El facilitated a Compact placement for another participant during Summer 2025.
Member Care 15 now a recognised embedded Servi￿ for Echoes International, and the relationship with
Mission Partners has deepened through in-person visits. Zoom calls. and regular WhatsApp
messaging. Online resources have been developed and used by Mission partner5 in various situations and a
mission partner care site has been set up. The quarterly prayer meetings enable the member care team to
keep up to date with a large number of Mission Partners. A new global Zoom prayer meeting and a pre-field
training for new mission partners and elders were also implemented in 2025, with very positive feedback.
Emergenty funding totalling £31.OC(I was sent to 4 countries to help alleviate sufferin8 taused by natural
disasters, wars, economic hardship and refugee migration. This included £17,CIJO sent to individuals and
organisations in and around Lebanon who were helping those affected by the war.
Key Partnershlps
El continues to maintain strategic partnership agreements with Operational Mobilisation, Frontiers, Pioneers,
New Tribes Mission, People International and Wycliffe Bible Translators. These enable us to second mission
partners mobilisinÉ through El intoteams with these organisations. We are delighted that in 2024, six mission
partners were seconded to Pioneers, with another going through a similar arrangement in 2025. These
partnerships have also provided a rich source of good practice and regular meetings have benefited all
parties, not simply in mobilisation but also areas such as risk and security and communications.
Sofeguording
Trustees and Mission Partners of Echoes International continue to complete bespoke training on a three-
vearly cycle. In addition. our Trustees committed to further training provided byThirtyOne Eight. highlighting
responsibilities specific to their roles. Recruitment processes are secure and staff involved in this area have
updated their skill and knowledge base with appropriate training in 2025. Processes are now embedded with
Mission Partners. recognising that there is a need to be aware of these matters and to uphold good practice
in their areas of service.
Awareness of safeguarding matters continues to strengthen across the El team. with annual training enabling
staff to recognise how these matters may impact day-to-day roles and how they should respond. In 2025,

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
all staff completed annual linternall safeguarding training as well as an externally accredited course to ensure
their base understanding was refreshed and secure.
Safeguarding 15 a regular discu55ion at Trustee meetings and these matters are raised with every Mission
Partner durin8 scheduled debrief5. Thi5 15 an area of ongoing development and self-audit practice continues
annually, along with quarterly meetings with the SafeBvarding Trustee. In 2025, our safeguardin8 policy,
framework and register were reviewed internally by our board's Audit and Risk Committee IARCI.
In 202S, seven new safegLJ3rding cases were brouÈht to our attention and discussed by the Trustees. Where
appropriate, external advice was taken and followed and support was given to partners in resolving them.
Risk ondsecurity
Raising awareness and identifying possible risks before they develop is fundamental to our risk and security
policy and approach at El. We recognise that risk cannot always be mitigated. but awareness is critical. With
this in mind we continue to raise awareness with the provision of quarterly security updates for our Mission
Partners, their commending churches and associates with whom El works. Travel packs are prepared for
overseas travel. including pertinent information on risk and security matters. In September 2025, we
facilitated a Hostile Environment and First Aid Trainin8 course IHEFATI for a total of 8 persons, raising
awareness and equipping them in this vital area.
Risk and Security matters continue to be discussed as part of the process of mobilisin8 new Mission Partners,
and have been a key element discussed in partnership agreements with other mission agencies with whom
we are working. Links have been established with the Foreign. Commonwealth and Development Office, and
our 5ecurity-level ratings for the countries we 5LlPPOrt are reviewed annually at a minimum. We continue to
facilitate insurance to our mission partners and retain the services of an external professional advice source.
Support
In essence, our activity over the year can be summarised in the four undernoted prioritie5'.
Pray
Prayer remains the foundation of the work of Echoes International. Our communication plan is
primarily in place to help churches and supporters associated with the charity to pray. This covers
print, digital and face to face activity.
Support We exist to do three things. al Support sending churches as they recognise and commend those
called into service by God. bl Support those called to cross-cultural mission through prayer, gifts,
advice, practical support. safeguardin& risk and security etc. cl Communicate key missional trends
to churches across the UK. highlighting our current mission priorities.
Mobili5e The need for people to serve in mi55ion is greater today than it has ever been. The Standing
command from our Lord and Saviour has not changed. The harvest 15 plentiful, but the workers
are few. Much of the world have not heard the Gospel. Nor do they have access to God'5 Word.
Over 42% in this world don't know who Jesus Christ is. We have the opportunity to communicate
this need, across all our mediums.
Equip
Training and Equipping for mission is vital in a cross-cultural context. We continue to sponsor
individuals who are seeking to upskill their cross cultural experien￿ via Ti151ey I, year or similar
courses. We also run Firstserve along with GLO and Countiesupdate to act as an entry level to
cross-cultural mission.

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Grant making policies
Any funds received which are designated for mission partners. full time evangelists/preachers or Specific
ministries are transmitted directly (with no deductions) on a monthly basis. The Trustees allocate gifts from
their undesignated funds at their discretion each month to most mission partners listed on the DPG. Some
are not given a monthly gift because they are employed or do not need it. Funds are also transmitted to
short-term partners as well. The amount of the gift is determined by the marital status of the mission partner,
the size of their family, and the UN cost-of-living index in the country in which they are based.
Gifts are also made in the followin8 circumstances:
One-off and fellowship gifts using the delegated aLrthorities 8iven to the Oirectors,.
Bi-annual gifts to various Individual￿MInistrIes agreed by the Trustees;
Ad-hoc gifts in response to disaster situations/reco8nised need 35 circumstances arise.
Flnanc5al revlew
Total funds held on the balance sheet at 31 December 2025 were £4.Sm 12024.. £4.3ml, of which £0.6m
12024.. £0.6ml related to Restricted Funds and Endowment Funds. The remainder of the reserves related to
the charity's lon8-term expenditure requirements. The increase in funds is in line with the strategy referred
to earlier.
Gift income was £5.6m12024'. £4.3ml. Legacy income was £0.8m higher than 2024, this 15 an uncontrollable
income. Gifts from individuals were £O.Im higher in 2025 and gifts from trusts were EO.2m higher. The level
of restricted gifts as a portion of overall gifts was 63%12024: 69%) of total gift income.
Total charitable distributions. in the form of grants made to institutions and individuals amounted to £4.5m
12024.. £4ml, as shown in note S to the financial statements. Overall. total charitable expenditure increased
by £0.6m from £Sm in 2024 to £5.6m in 2025, mainly as a result of the review of strategy outlined on page
As part of the charitvs pastoral responsibilities and networking with global mission groups, and sending
churches. travel by Trustees and Executive Directors amounted to £77k during the year12024.. £87kl.
Investment policy ondperformonce
The Trustees have the power to invest all amounts not needed for immediate working capital. During 2025.
Rathbones continued to manage the investment portfolio. In 2023. the Board agreed to change investment
profile from a Medium Risk profile to a Low Risk profile. As a result. the portion of the fund invested in equitv
is smaller. The investment manager invested the funds in line with the agreed risk profiles in a range of
companies and funds designed to achieve a balance of capital growth and income.
The main portfolio had investments with a cost of £2.Im12024: £2.7ml at the year-end. This portfolio was
valued at £2.3m12023= £2.7ml at 31 December 2024. Duringthe year. £0.885m12024.. £0.7ml was withdrawn
from investments to fund the charities activities. net of deposits.
The A H Boulton Fund portfolio had investments with a cost of £O.Im12024= £0.Iml at the year-end. This
portfolio was valued at £O.Im 12024= £0.Iml at 31 December 2025. The Mrs H Maclean Fund and the
Ramsden Trust portfolios had investments each with a cost of £0.04m at the end of 2025 and 2024 . These

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
portfolios were each valued at £0.04m at 31 December 202512024.. £0.04ml. The investments in these Fund5,
together with the Boulton Fund, are held in a general investment trust managed by Rathbone5.
Reserves poliry
The two regulators for Scotland and England and Wales expect Trustees to decide, publish, implement and
monitor their charitV'5 reserves policy so that they can comply with their legal duties to..
act in the interests of their charity and its beneficiaries;
protect and safeguard the assets of their charrty-
ct with reasonable care and skill-
ensure their charity is accountable.
In practice, this means that Trustees should develop a reserves policy that=
fully justifies and clearly explains keeping or not keeping reserves..
identifies and plans for the maintenance of essential services for beneficiaries..
reflects the risks of unplanned closure associated with the charity'5 business model, spending
Commitments, potential liabilities and financial forecasts:
helps to address the risks of unplanned Closure on their beneficiaries lin partitular, vulnerable
beneficiaries), staff and volunteers. We publish the reserves policy (even if not required to by lawl and
ensure it is tailored to the charlty's tircumstances- it should not be just a standard form of wording.
It should explain to funders, beneficiaries, the public 3n(i the Commission exactly what reseNes are
kept lor not keptl for and when they are to be used.
In addition to setting the reserves policy for Echoes International, it also details actions which will be taken
to ensure the approach is re-assessed annually, taking into consideration associated risks, potential funding
changes and financial climates.
The reserves sections and amounts for 2025 was as follows -
Operatlonal area
Re5er¥e leb*l to be held
Mlnlmum
reserve level
Office and operatlng expense5
l yearfs equivalent expenses will be retained
£0.84m
Dlscretlonary allocatbon to Mlsslon
Partners
I yearfs equivalent expenses
£0.80m
Dlsaster and poverty rellef
£IOO.(Xll to be held
£O.IOm
Strategic projects
2 years allocation to be retained
£0.29m
Capltal requlrements
ÉIOO.(MX) to be held
ÉO.IOm
Total
£2.13m
During the year. the reserve level was above the stated minimum at all times.

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The rationale for each fund is detailed in the charity reserves policy which is held on our website
www.echoesinternational.org.vk/reserves-policy. Ac￿SsIngthe charity's reserves will only be approved once
discussed and agreed at the relevant Trustee Meeting- where this need is highlighted.
Actual total funds at 31 December 2025 were £4.5m12024= £4.3ml. of which £0.6m12024.. £0.6ml was held
in restricted and endowment fund5 which are not available forthe general purp05e5 of the charity. In setting
the reserve levels the Trustees have designated funds to ensure these are available should the need arise.
The unrestricted funds of the charity at 310ecember 2025 of £3.9m12024: £3.7ml represented an excess of
£1.8m 12024.. £1.4ml over the total level of reserves identified in the reserves policy. These funds are
available for the general purposes of the charity and are over and above the designated reserves identified
above.
Going concern
In accordance with our agreed strate8Y the Trustees consider the resource5 available to the charity as well
as the forecast income and expenditure for the forthcoming periods. Based on this analysi5, and through the
settin8 and holding of reserves as noted above, the Trustees have a reasonable expectation that the charitv
will continue in operation for at least 12 months from the date of the approval of the financial statement5.
The Trustees have therefore adopted the goin8 concern basis of accounting in the preparation of the financial
statements, as set out in the Accounting Policies.
Rlsk mana8ement
During 2025, the Trustees have managed the main risks facing the charity and delegated this task to the Audit
and Risk Committee. The committee comprised up to four Trustees, with the General Director a150 attending.
The meetings are held every three months. The Risk Control Framework is discussed at each Trustee Meetin8
to ensure all risks are managed and the Trustees ère kept up to date with any issues facing the charity. The
risks have been managed in 2025 in the categories listed below:
Reputational
Financial
Vision
People
Change management
Operational
A number of Specific risks have been identified within each of these classifications, and the contro15 and
actions to mitigate the risks are reviewed by the Audit and Risk Committee. The top-level risks are regularlv
reviewed and di5CU55ed at the Board of Tru5tee5 meetings to ensure appropriate focus and accountability.
The changing trend in giving from churche5, individuals, legacies, and trusts is also monitored acr055 the
charity from an on80ing risk perspective. The re5erve5 policy, our strategic plan and annual financial plan
take these trends into consideration. These items are discussed at Trustee Meeting5 and action5 taken
accordingly, where necessary.
We are very aware that we operate in an increasingly secular culture. Consequently, we are faced with
changing laws and attitude5 which will impact the chariWs core artivities. We review media and legislation
10

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
on an ongoing basis to identify changes as early as possible and. if need be, discuss Potential mitigations to
ensure the delivery of our objectives. In addition. we are seeking to see the Christian gospel spread to area5
of the world which are hostile to the message. We are praying to the Lord of the harvest for mission partners
into unreached areas.
Our risk and security policy and procedures are in place to help mrtigate risks, equip those serving and identifv
issues as early a5 possible. This is discussed in every Trustee meetin8 and operational meetings with the
senior leader5, team. We remain a faith-based charity reliant on God who is faithful. Whilst we take Steps
Idetailed above) to ensure we are transparent and accountable to the regulators and charity law
requirement5 we are alway5 consciou5 that the resources we have are His. We are stewards of what He has
provided.
Plansfor thefuture
The Trustees of Echoes International remain committed to the strategic aims of the charity. These are
outlined above. The Trustees and all associated with Echoes International seek the Lord's guidance in all we
do.
Group entltles
Mi55ionaries' Children sfund IMCFJ
MCF is a charitable enlity Icharity number 2202041 re8lStered with the Charity Commission in England &
Wales. The only Trustee of MCF is Echoes International. meaning MCF is part of the same charitable group
as Echoes International. The transactions and balances within MCF are not material to the group and
therefore the account5 disclosures in Echoes International have not been completed to Show Echoes
International separately from the group this year as allowed by 3¢counting convention. The charitable
purpose of MCF 15 to care for the children of mission partners associated with Echoes International and
partitularly in assisting them in connection with their education. In the normal course of operating MCF
receive5 income from individuals, churches and trusts. and u5e5 those donations to the education of Mission
Partners. You can find a copy of the latest set of accounts for MCF on the Charity Commission website or on
request from Echoes International.
Interlink
Interlink 15 a charitable entity (charity number SC0080631 registered in Scotland with the Office of the Scottish
Charity Regulator10SCRI. The only Trustee of Interlink is Echoes International. meaning Interlink is part of
the sarne charitable group as Echoes International. The transactions and balance5 Wlthin Interlink are not
material to the group, and therefore, the account5 disclosures in Echoes International have not been
completed to show Echoes Intemational separately from the group this year, a5 allowed by accounting
onvention.

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Structure. governance and management
Constitution
The constitution of the charity was approved in 2017 by the Charity Commission for England and Wales and
the Office of the Scottish Charity Regulator10SCRI. This provides the charity with a framework and guidelines
for the Tru5tee5 to administer the charity. We continue to be a mission Service Group who work for the
worldwide furtherance of the Christian Gospel.
Method of appointment or recruitment of Trustees
The Trustees of Echoes International recoBni5e the importance of a diversified Board with a good spread of
capabilitie5 and experience in relation to the Mission Service Group. We have identified the skills and
capabilitie5 required and will use the established process to appoint new Trustees as the opportunity arises.
When new Trustees are needed the Chair and Vice Chair will approach individuals identified through various
sources. They will be interviewed and asked to attend Board Meetings to establish their qualifications, their
fit with the Board and their comfort with the working5 of the Trust. After thi5 proce55 and if both partie5 feel
it is appropriate to proceed, the formal appointment will be made following the Board's endorsement.
Policies odoptedfor the induction and troining of Trustees
New Trustees will be provided with the various documents which detail the Trust's Vision, Values, Strategy
and Constitution. Information with reBard to Trustee responsibilities as expected by the Charity Commission
will also be reviewed. We will provide training with regard to Safeguarding and they will be Subject to an
enhanced police check. Police checks and personal references are taken up for the Trustees during the
recruitment process.
Key monogement personnel remunerotion
The Board of Trustees are responsible for the runnin8 of the tharity and meet regularly to ensure the
Strategic, Financial, Risk and Operational decisions Jre made timeously. The Chairman and Trustees are
volunteers and give of their time freely. The operational day to day running of the charity 15 delegated by the
oard to the General Director and his Executive Team.
Details of remuneration ère disclosed in notes 9 and 10. The Board of Trustees is responsible for reviewin8
and approving levels of remuneration for the Executive Directors.
Orgonisotional structure and decision moking
Detai15 of the Trustees currently in office, together with other reference information, are shown on page l.
The Trustees who Served during the period from l January 2025 to the date the financial statements were
approved were as follows..
Mr David Brown
Mr Simon Prince
Mr Alan Smith
Miss Sharon Durrant
Miss Fiona McPhail
Mr Nigel McQuoid
Mr Paul Coxall
Mr Andrew Gib50n
Mr Keith Hunter
Vice Chair
Chair
Resigned May 2025
Appointed September 2025
Appointed November 2025
12

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Executive Directors in 2025 were..
Mr lim Armstrong
Mr Matthew Pitts
Mr Matthew Pitts
Mr Mark Wood
General Director. retired December 2025
General Director, appointed June 2025
Mission Director. resigned lune 2025
Operation5 Director, appointed September 2025
Jim Armstrong retired from his role as General Director during 2025. The Trustees wish to record their sincere
gratitude for his many year5 of dedicated Service and commitment to Echoes International.
Matthew Pitts, who had served 3$ Mission Director, was appointed to succeed lim as General Dirertor, and
Matthew transitioned into the role during the second half of 2025. As part of this change, the Board reviewed
the leadership team's skills and requirements, and, as a result, the Trustees agreed to recruit a new
Operations Director to support the General Director in the day-to-day management of the organisation. This
resulted in the appointment of Mark Wood in September 2025.
The Trustees. Executive Directors. and other non-votin8 members attend Trustee meetings regularly and.
annually. for a strategic planning meeting.
Accountability is maintained through robust Board reporting by the Executive team including financial, risk,
operational and reputational reporting. Bi-annual meetings take place with our Advisory Council who are
able to give us an external view of the operations for Echoes International.
Delegated authorities have been put in place to allow the day to day running of the charity and a financial
plan is established for Income, Giving and operational expenses. These positions are monitored at Board
Meetin85 and all aspects of control and performance are transp?￿nt to the Trustees during these meetings.
Financial Software provides our management accounts which are viewed by the Trustees at their meetings.
All our IT and software requirements are maintained by an external 3 party and this gives us full resilience
in the event of a major incident. They routinely visit to address operational issues and the General Director
meets with the Senior Management of the IT company to ensure all service levels and risks are managed
according to the contract in place. In addition we also operate a CRM and SharePoint filing system to provide
further resilience and making sure all records and files are held in a paperless system. The IT system used is
cloud based and backed up daily.
Our websites are all maintained along with our Social Media platforms- we have policies in place for our
communication strategy to ensure nothing is communicated which would impact the reputation of the
charity. All e-transactions are made securely. Our access to IT and Internet Banking is fully encrypted and
accessed via 2-factor authentication.
We continue to make no charges for the remitting of funds. Nothing is deducted from gifts towards the
running of the charity. It would be our hope and prayer that operating expenses are normally met from
specific gifts made towards our expenses. investment income and a % of all unrestricted legacies received in
the year. We do not engage in any fundraising activity. Our sustainability is dependent on a faithful God.
In addition to the above sources of funds for operation31 expenses. the Trustees authorise the use of
discretionary reserves for the operational expenses of the charity. In 2025. this was not required due to
increased legacy income in the year. This is to allow them to support their agreed strategy and see a renewed
enthusiasm for mission from UK churches.
13

ECHOES INTERNATIONAL
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Relationships with other organisations
Trustees are required to disclose relevant interests. and these are noted on a register and kept by the Board.
In accordance with the Charitvs policy, Trustee5 Wlthdraw from decision5 where a conflict of interest exist5.
14

ECHOES INTERNATIONAL
STATEMENT OF TRusfEES' RESPONSIBILTfIES
FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
The law applicable to charities in Scotland requires the trustees to prepare financial statements for each
financial year which give a true and fairview of the State of affairs of the charity and of the incoming resources
and application of resource5 of the charity for that period. In preparing these financial statements, the
trustees are required to:
Select 5Ultable accountinB policies and then apply them con515tently;
Observe the methods and principles in the Charities SORP IFRS 1021;
Make judgements and estimates that are reasonable and prudent,.
State whether applicable accounting standards have been followed subject to any material departures
disc105ed and explained in the financial statements: and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charitable group will continue in operation.
The Trustees are responsible for keeping proper 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 Charitie5 (Accounts and Reports) Regulations 2008, the Charities and
Trustee Investment Istotlandl Act 2CIJ5, the Charities Accounts (Scotlandl Regulation5 2006 and the
provisions of its constitution. They are also responsible for safe8uarding the assets of the charity and hence
for taking rea50n3ble steps for the prevention and detection of fraud and other irreBularities.
The Trustee5 are responsible for the maintenance and integrity of the financial information included on the
charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial
statements may differ from leEislation in otherjurisdictions.
The Trustees, Report was considered and approved by the Trustees at their meeting on 19 May 2026 and
subsequently signed on their behalf by:
Simon Prince, Chairman
15

ECHOES INTERNATIONAL
INDEPENDENT AUDrroR'S REPORT
TO THE TRUSfEES OF ECHOES INTERNATIONAL
FOR THE YEAR ENDED 31 DECEMBER 2025
Independent auditoVs report to the members of Echoes Intemational
Oplnlon
We have audited the financial statements of Echoes Inlemational (the 'Charity"I for the year ended 31
December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow
Statement and notes lo the financial stslements. including 8 summary of swJnificanl accounting policies. The
financial reporting framework that has been applied in their preparation is appli¢able law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102." The Financial Reporting Stsndard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the finanaal statements..
give a true antl fair view of the stat6 of Ihe Charity's affairs as al 31 DeCeM￿r 2025 antl of ils income
and expenditure for the year then ended.,
have bgen properly prepared in acwdance with Unile(l Kingdom Ggngrally Accepled Accounting
Practs'ce.,
have been prepared in accordance with the requirements of the Companies Act 2006 and regulations
6 and 8 of the Charilies Accounts (Scotlandl Regulabon 2006 las amended).
8asls for oplnlon
We conducted out audit in accordance with international Stsndards in Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are furlher described in the Auditor's responsibilities for the
audit of the financial statements secbon ol our report. We are independent of the Charity in accordance with
the ethical requirements that are relevant to our audit ol the financial 51atemen15 in the UK, including the FRC'S
Elhical Standard, and we have fulfilled our olherethical responsibilits'gs in accordance with these requirements.
W8 believe that the audit evidence we havg obtainod 1$ suffi¢i8nt and appropriate to providg a basis frjr our
opinion.
Concluslons rolat5ng to goSng concern
In auditing the financial slalemenls. we have concluded Ihal the directors. use of the going concem basis of
acctsunts'ng in the preparats.on of the financial statements is appropnale.
Based on th8 work we have performèd, we hav8 nol id&ntifi8d any mat8ri31 unc8rtainti8s relating to 8V8nts or
conditions thal, individually or collectively, may cast significant doubl on the charity's abilily to continue as a
going concem for a periLNJ of al least twelve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibililEs of the dI￿lor$ with reswl to going concem are described in the
relevant sections of this report.
Oth8r informatSon
The Iruslees are responsible for the olher information. The oiher information comprises the information
in¢luded in the annual report other than the finan¢ial statements and our auditor's report thereon. Our opinion
on th8 financial statements does not ¢over the other infomation and, ex¢ept to the extent oth&twise &xpli¢itly
stated in our report, we do not express any fomi of assurance condusion thereon.
In conneclion with our audil of the finanaal statements, our responsibility is to read the other information and,
in doing so, consider whether the other informats.on is materially inconsislenl with the financial stslements or
PJJe 16

ECHOES INTERNATIONAL
INDEPENDENT AUDrroR'S REPORT
TO THE TRUSfEES OF ECHOES INTERNATIONAL
FOR THE YEAR ENDED 31 DECEMBER 2025
our knowledge obtained in the audit OT otherwise appears to be materially misstated. If we identify such
m8leri81 inGonsist8n¢ies or apparent material misstslements, we are required lo determine whether there is 8
material misstatement in the finanaal statements or a matèrial misstatement of the other information. 11 based,
on the work wè havè performed, we ¢onclude that there is a malerial misstalement of this other inlomiation.
we are required lo report Ihe facl.
We have nothing lo report in thi5 regard.
Oplnlons on oth•r matt•rs prns¢rib•d by C¢mpanlos A¢1 2006
In our opinion. based on the work undertaken in the ￿urse of the audit..
the information given in the truslees. report (incorporating the directors. report) for the financial year
lor which the fin8ncial statements 8re prepared is consislenl with the financial stslements., and
the directors, report has bèen prepared in 8ccordanc6 With applicable law Tequiremenls.
M4tt*rs on whlch we are r•qulrod to r•port by *x¢eptlon
In the light ol our knowledge and understanding of the charitable company and ts environment obtained in the
cours8 ol the audit, we have not identified material misstatements in Ihe directors, report.
We have nothing lo report in respect of the following matters in relation lo which tho Companies Act 2006 and
Charities Accounts (Scoilandl Regulations 2006 las amènded) raquires us to report to you if, in our opinion..
adgquatg a￿unting rgwd$ have nol been kept. or rolums adequate for our audil havg not bggn
received from branches not visited by us.,
the financial statements are not in agreement wilh Ihe accounting records and relums.,
certain disclosures of trustees, remunefation specified by law are not made; or
we have not obtaingd all Ihg infomation and gxplanations ngcgssary lor tho purposgs of our audit., or
the trustees were nol enlitled lo prepare the finanaal slalemenls in accordance with the small
companies. regime and take advantage of Ihe small companies. exemptions in preparing Ihe directors,
report and from the requirement lo prepare a slrategic report.
R•sponslbllltl•s of tmst••s
As 8xplained more fulty in the trustees, responsiknlities statemenl. the (rustees are responsible for the
preparation of the financial statements and for being satssfied that they give a true and fair view, and for such
internal control as they determine 15 necessary lo enable the preparab.on of financial 5talemen15 that are free
from material misststement, whether due to frau(J or error.
In preparing the financial statements, the trustees are responsit)le forassessing the Charity's ability to continue
as a going concern, disdosing, as applicable, maiters related to going concern and using the going concern
basis of accounting unless the trustees either Inler)d lo liquidate Ihe Charity or lo cease operations, or have
no realistic allernalive bul lo do 50.
Audltorfs r•sponslbllltl•s for th• audlt of th• financlal sLit•m•nts
We have been appointed as audilor under section 4411 Ilc) ol the Charities and Trustee Investment (Scotlandl
Act 2005 and under the Companies Act 2006 and report in acc4)rdance with regulations made under those
Acts.
PJJe 17

ECHOES INTERNATIONAL
INDEPENDENT AUDrroR'S REPORT
TO THE TRUSfEES OF ECHOES INTERNATIONAL
FOR THE YEAR ENDED 31 DECEMBER 2025
Our objectives are lo obtain reasonable assurance about whether the financial slalements as a whole are free
from material misstslement. whether due lo fraud or error, arhd lo issue an auditor's rep(Yt that includos our
opinion. Reasonable assurance is a hKJh level of assurance, but is not a guarantee that an audit conducted
in accordance with ISAS IUKI will always delect a malerial misstatement when it exists. Misstatements can
arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably
be expected to influence the economic decisions of users laken on the basis of ihese financial statements.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non-Gornpliance with laws and regulations. was as follows..
we identified Ihe18WS and regulation5 applicable lo the charity through discussions with those charged
with governance and othgr management. and from ¢xJr knowledge and experience of the sector".
we focused on specific laws and regulations which we considered may have a direct material effect
on the financial slalemenls of the operabons of the company. including the Companies Act 2006.
taxakn'on legislation and data protects'on. anb-bribery. employment, pensions, environmental and health
and safely legislation. and
we assgssed the extenl of compliance wilh Ihe laws and regulations idenlified above through making
enquiries of managemenl. inspecting legal correspondence and remaining alert during the audit for
any indic81ions ol non-compliance.
Our audil procedurgs in rglali¢)n ¢0 fraud inclLKled bul were not limilgd lo..
making enquiries ol those charged with govemance and other managemenl as to where they
considered there w8s susceptibility lo fraud. their knoWI￿ge ol actual, suspe¢t8d and alleged fraud.
discussing amongst the engagement team the risks of fraud..
gaining an understanding of Ihe intemal controls in place to mitigale risks of fraud and non-compliance
with laws and regulations.,
lestin9 joumal gnlrigs to idgnlfy unusual transadw)ns'.
assessing whelhgr judgements and assumptions made in tlelermining the accounting gstimalos sel
out in the accounting policies were indicative ol polenlial bias,. and
investigating the rationa￿ behind significant or unusual transactions.
There are inherent limitations in our audit pl<￿edUreS described above. The more removed that laws and
regulations are from finan¢ial transactions, thelgss likèty ti is that we would becomg awarè of non-¢ompliancg.
Audits'ng standards also limit thè audit proc8dur8s rgquired to identrfy non-¢ompliance with laws and ragulations
lo enquiry of the directors and other managemenl and the inspeclion of regulatory and legal correspondence,
if any. Material misstatements Ihal arise due lo fraud can be harder lo de(ect than Ihose that arise from error
as they may involve deliberate concealment or collusion.
A further description of our responsibilities for Ihe audr¢ ol the financial slalemenls is located on the Financial
Reporting Council's website at www.fr
L￿o￿dIt. This description fornis part of our auditor's report.
Use of our report
This rew)rt is made solely to the Charity's members. a5 a INYJY. in acurdance with Chapter 3 of Part 16 ofthe
Companiès Act 2006 and s8ction 44111¢ of the Charitiès and Trustee Investment (Scotlandl Act 2005. Our
audit work has been undertaken so Ihal we M￿h1 stale lo Ihe Charity's members those matlers we are required
to state in them in an auditor's report and lor no other purpose. To the fullesl extent permitted by law, we do
not accept or assume responsibility to anyone olher than the Charity's members as a body, for our audrt work,
lor this report, or for the opinions we have formed.
PJJe 18

ECHOES INTERNATIONAL
INDEPENDENT AUDrroR'S REPORT
TO THE TRUSfEES OF ECHOES INTERNATIONAL
FOR THE YEAR ENDED 31 DECEMBER 2025
ogkkn LL gtuK
Joshua Klng$ton FCA (Strnior Statutory Audltor}
For and on behalf ol Burton Sweet Limited
S￿tUtOry Auditor
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol BS48 1 UR
Dale.. 8 June 2026
PJJe 19

ECHOES INTERNATIONAL
STATEMENT OF FINANCIAL AcnvmES
YEAR ENDED 31 DECEMBER 202S
Unrestrl¢ted Restrlcted Endowmwrt Total Funds Totsi Funds
FuThl#
FurKI¥
202$
2024
Donabons and ￿gam$
ChamaLqe aGtsvnieB
InvèsbMeMS
Other
2.074.
47.952
3.485.450
S.$60.110
47.952
119.221
8.098
4.273,622
54.297
128.745
5,206
6.045
Totsl lthccthe
2.246.774
3,488.FKJ7
5.735.381
4,461,870
Exp•ndRur• l￿..
2.140.624
3.457A34
5.598.058
5.032,054
Totsl •xpondrtw•
2.140.624
3.457.434
5.598.058
5,032,054
Net IrwnellexpendilLYel befr
Investrnenlgains 11105585}
1￿.19)
31.ln
137.323
1570.1841
Nei oalns I (k￿￿5)￿ InvwmwI6
Nel 93ins I Ihmeslon Investment
propeny revalUat￿an
139.716
7a51
148.460
77.9B5
120.(tsJI
120.ONI)
14•t InE¢)rn•l<•xp•ndttur•l
225M6
32.516
7,351
5.783
TrBnslers ￿j￿S
37.443
135.fK•J}
{2,4431
Not M0￿M•nIb?tsWon fun
263.309
12.434}
265.783
Totsl fiJnd• at •tart of >Yar
1671.1thJ
431.O)1
167,01
4,269.119
4,761,338
Totsl lund• •t•nd of ￿•r
3.934.409
428.567
171,926
4,S34.9D2
4,269,119
ThTrChontyhM fvj 9￿% 0lhBrkn tha le￿h$ I￿aUlabove.

ECHOES INTERNATIONAL
BALANCE SHEET
AS AT 31 DECEMBER 2025
2024
Fix•da850ts
Intangitle assets
Tantsib￿ 888et3
Investment property
IDveslmenls
13
14
1$
16
101.7(MI
520.445
10.(Xh)
2.310.110
S46.527
30.0
2.694.278
2.942.255
3.27D.805
Current us•ts
Debtors
Cash al bank and In hand
17
1.584.49)
370,243
1204.091
156.328
1.954m3
1.360.420
Lfjabllttl
Cr¢ditots f*li
5YJr
18
1362.0461
1362.1WI
N•t curr•nt a•••ts I I1￿￿1￿￿$)
1392.617
898,314
Totsl u••ts l•H cuff•nl li•bWNI••
4.534.W)2
4,269.119
N•t
4.￿.9)?
4,269.119
Fund•
llnrm￿C10d fvnd¥
Gwer¥i funds
08signal8d
23
23
1.611.637
2.322.772
463.680
3207.440
3.934.4CO
426.567
111.926
3.671.100
431.W1
167.018
R••trl¢i•d fvnd*
2J
23
T•t•lfuhd•
4.534.9)2
4,269,119
Th680 finart¢ivl s181￿l￿VA byfvTll￿0O1thI..19..￿ay. 2026............. •¥J w8 ww80ty1Ihdt b8h811 ty.
8lfflon Pwln¢•, Ch•lrmlln
Engllth Ch*ltythumb•t.. 11738SI
S¢ol¢l•h Chirtywrnber.. SC04rn7
Company nurnbor.. CE011337
21

ECHOES INTERNATIONAL
CASH FLOW STATEMENT
YEAR ENDED 31 DECEMBER 202S
2024
Nèt cash oulfiowfrom Opern￿r￿jJ¢l1wm5+¥
{372.739}
00.6581
westlng a¢￿¥￿1P*
PAyments forinL*wINe fixed ay*i¥
Payments tort¥ngible fixed
Movement In cash h6qd as Inv851rnenls
Purch￿ din¥estrnwts
Pro¢eE¢s ftom $a￿S￿l￿V¢s￿l￿i$
Investrnent Income
{101.7fy)1
42.￿1
{810.5921
1.136.757
119.221
114,8681
1432,3821
1.067,722
128.745
586.6&1
749.217
Not ca•h Inflowlorth• ￿•T
21
213.914
48.559
A*•￿￿1•nI
Chantylaw yohibls Ihe cl nBt ca5* onyendtyA￿dcf clhwrestrthd fvjnd tooff501 nol cash outnow￿ on anyfund
oLrt$￿e its obiacts. excwai In lh￿ r05trKw&I has noi anyeffecton c4sh f*W5 lorlhe w.

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
l Accounibng pol￿￿5
Accounlng ¢¢>n¥enibon
attC￿nts lfinantha $L4￿MeThts} have tse￿ ￿1th thÈ Stat&iieni ot Re(x￿rneThded p￿￿￿.. A(*thntlng
and Re00th￿ by Chanbes In the F￿8￿1 RerthNJ Startd￿d wlicafie In UK and
Rewblic of Irdand IFRS 1021 L$S￿d In OtiobÈr 2019 Ènd the Finan(JÈl stsndèrd ÈprlitatrAe In ihe United Kingdom and
Rewbllc ol I￿ar￿ IFRS 102). tr* chaiths Ad 2011. the Trn$￿e Investrn￿l (scotta￿lI Ad 2￿5. thÈ ChBdUes
A(￿Thts IS(￿￿￿￿￿) ReyuL*bMg20tk8and UK G￿*￿tyAtte￿l Pr**¢ÈSit 1 JAnuÈry 2019.
Thg accounts {finar￿al slatementsi ho￿ been kwtyar•d tow a ar￿ (*p*ted from th& Chaiitsos IAccoun15
and Reth51 Regula11r*￿ I(￿ lo extem rgwir•Y to FThie a and fair Y￿￿.. This wnure has In¥dv84 Iiqlowng
AC￿J￿11n0 and R￿ing by ChaiiDe5'. siaiernem of ReC￿MeTh￿d PraGtr* aP￿￿til0 to thant￿ wepariw iheir acuunls In
accordance wth the F￿￿31 RgwtsThJ Standttd *Katl& ￿ the UK aTrJ RepLI￿￿ d Ireknd {FRS 1021 Isswd In October 2019
rather than the AccNnllw and RewrtirvJ by Ch3mKs.' Stst¢mBnt of R￿cInme￿J￿1 Pra￿e4 effecthve ftom l April 2W5 ¥*hith has
nce bean *Ithdra%￿.
Ttr* ¢hAntyi$ 0 pJf41¢ tthelh 8nlhtyaS￿fi￿j undgtFRS102. TF* Trust88s ¢(xBthrth8t no ￿t￿rtaintleS aN￿1n9
tho ADility ¢1 the ¢hWty to urt*iue ¥$ • ¢¥n t¢ found in thtr T[V$￿¥S,
Incom•
Income Irorn donatsoD5 15 iThguded n IrK£¢ne￿kn￿lhè$•arO rec•vat*, excwas lkn..
l. When donors that thnoDon5 to Ihè chty rnust bfr uF¢d ￿ fuwre thè In(Xy￿ IB defenèd unlll
those pefi￿S..
11. When doncrfs Impm COndrt￿ to t* bofNe th& c*arity bac£ffles afflidE￿ b LW such Inc£rf￿, the In￿rne 15
deferred until the wtrcondltic￿ hB¥e been mot.
Lo08¢￿ 8rB In¢luded on 8 b￿¥ ¢y*rty i¥ 10 irt¢yntr, Il (*n bo n1tr85uT￿ reli•Lqy $hd re¢eipi Is
probable. Wlwe hèvt thonty. or thynly ￿ 8*¥tr of of probate, 8nLI the for
mitend.
Inw6trmeni Ir￿0m9 ty) • r8c•¥8118 b•6•.
Oon8tions In kihd ¢oMpwi%)r￿O c(*ts¥0m•8W￿l• I￿1 tr* 8MO8*YwhJ C*W$8 hayo to t* Paid ftv
Ewolbj￿ ￿ wrMs•J in th• ￿L￿a881tybtht1& VAT c8n￿t D•
Ch•iii•ts¥A¢iivl
Gr£nts gwarded ar& ￿￿￿t￿d tothllrtlat4e athilies.
GrEnts awaided are tr￿ted u ex￿￿Lye4￿*y i lablty in the acuwt6 a5 soon a5 hgal rff c4Dstrwbve oblig£lion5. In
the case ol ffluIts-￿r 9T￿1 a¥Mrds. tro am irnrnedw*tyrecwised we cOr￿lbr￿3 lo be
fflet by r¢Up￿TrIt0￿￿e￿ the r￿e•Se Otsubsthw￿7 s￿.
Gov•manee ¢ost8 c(th8wo)•W*ith m•w w￿￿y￿￿1r*m•nt8 of th• c*•rity •nd Ind￿$
the 8uditf¢es I￿k¢a to the oftr*ftsnty. C￿¥￿n￿¢• in￿o•d *iihin Suwort
23

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
l Accounibng pol￿￿$ fc0fr7thtt
Alloeauon an￿app￿th￿te0sts
certain pxpendrfurE Is direetyatttthtai** thK% hss iwi inththd in ¢*wes. Other￿$L*. whi
altr to (*t¢m. ¥fy ¥r(tss ssseswentof¥￿rkltsl￿ tstrtd
¢uifr(wn brne totyne.
stsff tim
P¢nslon cost8 and other post4thlr￿￿Th1 ￿ne￿I
The chaniy con1n￿leS 10 defirEd con1n￿￿0Th pensth sthms. CQnthFArt￿S payaFA8 to the thaws sth8m8s Are cha
to sla￿Ment ol Fifk4rval ACts￿l￿s In b) thay fda￿.
Intangib￿ assets At eoslknss aeoxnuLqtad arnon￿￿￿. Am(rts&w is so as to81k￿￿te cost ofiMangitrAe
aSS6ts less theii r8sidud vduEso¥ertsrasbm8tad L*efiA •(XKKyThc&¥os. thè StrawaM4K* basis. Th8 8stimaied usthjl IIv86
Tinglbkn flx•d ••••t•
Flxod •￿t$ are * ¢OSt A$88ts (tistirolo$9th8n U.(Kn8r8 not ¢8￿1$11$￿ Depwl8tlon
¢8kul8wd so as tow*ie off 88$8L wm818d v8lu8. usoful Ilf•ofthW 8S$8189 follows,,
FI￿ulES & Fmifw¥ -c*40r3 wrs., straBhlln
Compui*f*quiw8hl. 5W¥.
Free￿d piwimwo¥ernants . 8- 10 5wrs', 5traWlln•
Flx•d M••t Inv•ityn•nt•
Invasbmenis alè InclL41od 81 • 31 D•r•ntw. SQFA ￿*￿1•• thg w g•ww 9￿n0 ￿ rnvlu0l1￿$ And
d1$p¢Sa￿ dunro I￿)*￿.
Cuh •1 In
Cash albank ￿￿L￿e5 C*h tern 5trKrft rnabJntyofthTqe rrhjnihs c(les5 from the
dele olicquisthn ryapeThwolihe dep05rt Or￿rni￿ Dccounl.
LK9)IlitiO$ s￿ to¢ffjni￿ Shw 08*8$8 to￿￿t¢Y* wi evW. it 1$ ptob8Di•th8t 8 tr8n618r
ol w10m￿ Denofil ￿11 In $8M•m8M. 8nvint of Ir* e*tdom•ni t* 8stimgt80 ro1i8tly. Li•￿Irt1¥S 8t8
r8¢OQAI$* 81 8mount th• ￿ ¢)Xg1ity il p8y to 8•Uo tho 00)t or 81 amount rt h8$ re¢•w8a 8$ *v8nc80
pa￿￿ents1O1 tho u¢￿$ or881vi￿ it m￿% wobTrJO. Pryhi¥th¥8r• tl*8¥UthJ 81 bOSt 8¥bm8t8 of th• 8mourtt6 rOquir￿ to $01do th•
oriig¥iith. WhWO tho •ll*d bm• of 1$ m#t*ri¥. tho 1$ b*￿ lyi Ihtr ptytseni Y•bJ0 of thO$O •mouni¥.
IhlOrFFI ch¥gas.
Fund I￿0￿￿1T1p
UnrÈstrithÈd knd$ ¢an bs w¢d In 8¢¢(rf¢8rtfy*ith th¢ (M**40rt4"8a$ 8ttr*i*9UebW ofihè tru$t¢è$.
R•strithd funds tsr p*t¢uL¥ rysth(*80 pJirix8¥ ¢J*nty. R*sty*tth$ thon spocif80
y ihg (Y whon fu￿$¥* r¥ise¢ f(Y p8rtyyJW wrfft8¥
O¢s￿nated funds fcnm mOfur￿￿11i￿￿ hkn* b￿n as bthro for p¥￿￿11T tythè Trustee9. Thèy8re
nthresththd ar￿ can Dè trAnstsmd towwal ￿ndS ￿ Anybm8 at￿ ofthts Tmstdès.
Furthere¥Flanafyon ofvw rthrpwwj or98thfu￿ 220ftsf￿a￿I statornonts

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
2 Income Irom.. Oonaiion• #nd
ilrw•¥tsir¢•d Rfjstridwd Totsl Fund¥
Fund
Funds
SE
2025
8ernWy
Individual gift5
OlhErixlle¢bvE¥ts
TNs1s
Leoac*s
50,607
216,164
42.499
1%,368
1.569.022
613.689
664,496
1.527,338
753,116
1,006.691
1.60S,469
713.617
810.323
36.447
2.074,660
3.485.450
5,560.110
T•tsi Fund•
2024
Pwlor
Fund
Funds
A$s¢m￿Y gifts
Individual grfts
OlhÈt
TNsls
Log8¢*S
57.023
199,076
10.577
2Y,086
805.986
600.360
1,Z29177
2.224
635.113
657.383
1.428,253
512,801
869,199
805,9B6
1 3W.746
4 273822
3 In¢om• Iram.. ch•rha￿ acl￿NbIl
Llrw••trlrt•d
Fund•
Totsi Fund•
2025
Fundb
F4Jbllihl
47.952
47,952
47,952
47.952
Pwlpr
UnT••trktsd R••trfGt•d
FundB
Fundb
Tol•l Fund•
2024
F4Jbllthl
Y.297
54,297
54297
54.2B7
4 InMm• Ir•m.' Inv4•tmDDt•
R••trfct•d Tot41 Fundi
2025
FyfvJ•
78.S53
1.104
79,857
3,304
36,260
Intereslre¢6fftd
Rent Irorn Investrnenl ycprty

ECHOES INTERNATIONAL
NOTES TO THE FIMAMCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
4 Incomefrom.. kn¥estsDents
uru•#tT1tt￿ R*striet￿ Totsi Fund¥
Funds
Funds
2024
Pwior ￿lf
Div￿er￿S
Interestre¢eiv¢d
Rent Investrnent
89.774
90,921
2,028
35,T96
35,796
127,569
1.176
128,745
5 Expon¢JlbJr• ¢)n'. Charltabl•adMI*•
Dlr¢¢i GrnTht fvnd* Support
Co*
INot•71
Toial Funds
2025
(Noto 61
Glfis to rryanl$&b(w)S
Gifls and allrKalions to IndiwdL415
Publishing, mo￿lL$8￿0n & ¢q￿PF
•mDe¢¢sttr
1.431.293
3.OEII,371
133.6
133.622
481.185
130.410
1,564.915
3,193.593
708,740
130.410
227.575
227.575
4.491,664
878.819
5,598,058
Dlr•¢i
Gr•ht
of
Illot• 61
Svpwt
To¢•1 Fu￿0
2024
INot•7)
olfis to LYg8nis8bLY
Gifis and *lcKalioD5 toindMdL
PuD119hlng, mo￿1￿￿¢￿7 8 fj9￿
8mD*f c8r8
124.417
124.417
448.021
121.428
1.141.229
3.102.156
667.243
121,426
2.077,739
219.222
219.2
3.W,551
818.281
5,03Z.054

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
6 AnalWs of grants
2025
2024
GD¥el Fel(thship TruStirfkndKq
Immanud Evangdi¢* thurch
IAoshi Chnsiiw Children's C£nife
azi0[￿ CCE di Siena
TL*al ofgrantslo ollW￿gaThsatic￿{￿ £y).LW wiaxreDtorwic¢y)
S2.1
SI,￿5
77,n7
60,313
S1.330
318.184
919,043
828.867
T￿￿1 grani c0mmitrll￿L8 loiTh￿vi￿L8
3.(￿,371
2.977.739
Total gfdnts mad• In ihb >wr
4.491,664
3,894.S51
2125
2024
CommibX¢hL¥ tYOWht l(Th*rd
Nelcornrnilments made In Ihe
P8ymeni$ dthrvj the ￿8t
236.783
4.491,664
14.570.107)
169,659
3,994,551
13.927,4271
ommitrnonESC4rn0dkMrd payat4fr*ilhm ono
N(rt• 18
158,340
238.783
7 SuppDrt ¢￿t*
Tot41
202$
T4)tal
2024
SIEff costs
R•io$. Iitht. he81 and Insw8r
c￿ning, deCor0￿ryJ and rew
Ti8v*I- TtsJ$i••8
TIll￿1.Other
otfi¢o ¢¢$18
Gmmance costs
Equlprneni reng** •nd m￿nI￿
Prolession81 lees
eank charges
ndryofft8 *xpens86
OepreoatKn
{p•x• 10}
S13.4fi8
33.458
17.479
1.565
480,802
30,882
12,793
1.935
85,436
16.872
29,825
83,$33
42,682
8,718
16.614
J9.680
96.094
34.437
8.93
14.894
26.083
INr4e81
33,729
878 819
818 281

ECHOES INTERNATIONAL
NOTES TO THE FIMAMCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
T¢)tsl Funds Totsi Fund#
2025
2024
AudhDrfs lees
19.320
18,000
TN51e& meBtsng5
AdvisorygroLV
Strat￿le p￿nrIng arKI
15.947
3.574
5,566
1,354
3.561
39.680
29,825
9 Not Incorndl•xp•ndttur•l lorth•swr
This Is sts￿d afier chwgirs..
2025
2024
d￿0￿5 remunBratic
19.320
18,000
TN51ees' trayd. meals. •Th#1rn￿lrPtXpQr￿
00we0èt￿
3.851
26.083
3,270
33,729
5 Tru8t88s •y4kn)￿ 88 *JesthW 12024." 41 No Tru$t8• waivod any
r8murw8bW 5*8t.
Aggregaio Trus*e8. key psfyoSM89£7,64512024 £3.1351.
10 St411¢¢xl4 and nuM￿rn
The agoregale co*s wwe..
2025
2024
Wages & salwes
$￿v￿lY¢0$
PeD5hJn conlnbjtsorffj
434.123
37.831
410,246
31,360
39,196
513.468
480 802
No empb5Ye receNed emokrnisc4nKKe ihaTh£60.M.
Th8 Svtrage %￿lYnLwnl*d*nFthJffts dunry the 18f20Y. 191. ¢4trx4thd ￿ tr*bO$ts of8Yer8ge TTh
8verage weekly numberolerrolob*es dunry Ihe par 1512024.. 151. c*)Jlat84 ba516 of lull Iirne eguiyaWI. Key
ffllnagemenl per￿Tr￿ IDchJde ihe Tnjstees and E¥6Y)Juve OirK¢o7. Tr¢ W ern&40￿1 tse￿fit￿ r￿￿ved by k&yffl&nagernent
perP￿nn￿ In¢￿dI￿ ernpw nDth7Dd Irwi•Ke aThl err0o￿rp*￿￿Ve É126.930 (2024.. È10S.1%1.
11 T•x*tlon

ECHOES INTERNATIONAL
NOTES TO THE FIMAMCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
12 Staten)eiit ol FIMt)clAIAdvll*s ¢ompArnJ¥efigures
Uwe*trie￿ R*#tsitt•d Endts4bTnènt Total Fur
Fund
FurKIs
FuTrd$
For th• >Yar•nd•d 311 D•c•mbDr2024
2024
In¢omefrom'.
Donabons leg¥tyBS
ChantabknaGtiwtses
InveS￿ent Income
Olher Income
I.3(￿.748
54.297
127.569
2.966.874
4.273,622
54,297
128,745
1,176
1.645
Total IncorTr•
1.492.175
2.SW,695
4,461.870
Exwndl¢vr• ¢>n:
Chantabbactiwtses
2,LW.WS
2.952.049
5.032,D54
T•¢•1 •xyndltur•
2.W.(K)5
2.952.049
5.032,054
{587.&10}
17,646
Nelgainsl1I055esl￿ InYe51rnen15
65.073
2.712
10.1
77,965
tr4•t Iny)rTrvll•xp•ndttur•lfqrlh•>•w
1522.757}
10.180
1492,2191
Trgnsl£rs bèiwe¢n fun¢$
16.ts)1}
8,fPJ2
Not mov•m•nt In fun
1$26.7581
10.179
1492,2191
701•l fvnd• •1 •tartof
4.199.858
404,641
156.839
4,761,338
T•¢•1 fvhd* •1 •nd
3.671.lOJ
431.(N)I
167.018
4,269,119
13 Inl•nglbl• •A••tA
Tot•1
Al 1 JaTrJary 2025
Add￿kn$
101.7
101.700
Al 31 Decembw 2ff2S
101 700
Amorti4•tlo
Al 1 January 3)25
Ch8ro• l¢tI￿ y•¥
Al 31 De￿nb￿ 2￿25
Al 31 Dgcernbw 2025
101.7
At 30 De¢¢mbw 2024
Ourtng the ywrthBre *Yea￿4*y*￿emc(*bthItl*￿eArMth￿9eo.A￿th￿APp *Ag Kwse. no AmDrbyalon wAgcharged
dudng tho wr.

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
14 Tathglbleflxed 4M*i*
Fr•who
property
Computèr
Totsi
Cost
At 1 J&￿ary 2025
811.112
9.478
169.995
89.049
1.079,834
Diswsa
At 31 DÈcemb¥ 2025
9.478
169.995
89.04g
1.079,634
O•pr•dFIIDn
Al 1 January 3025
Charoe Icrthe
324.621
16.2
169,494
489
30.307
8.6rKI
533.107
28,082
Al 31 December 202S
340.821
9.478
169,983
38.907
559.189
N•t btsok ¥41u•
AI 31 OKembw 2025
470.291
12
50.142
520,445
At 30 Dec•mbw 2024
4e6.491
501
58.742
IS Inw*trMnt Prowrty
Frn•hold
Inv••tm•n*
Pr•pvty
Investrnenl propBrtyv¥LthOty è11 J*Lwy2025
Impairment In Ihe ￿ar
Inv8strn*ni ptOwtyv￿uth0ty 8131 O*•Ytw2025
30,￿0
120,NOI
10,000
18 InwAtnMnts
902$
2024
4vkat￿l￿*
Al 1 January 202S
Purcts￿ ol Invesbmen
S8le of 1nV¢$tm￿11
3.023.928
810.592
11.336.757>
148.4eo
142.9671
3,566.436
432.382
77,giy
14,868
Mo¥emenl In c4sh hdd
In￿￿ThenL8 habj at 31 Dec￿b￿2025
2,e03.256
3.023.928
Le55 hdd as aynt
1293.1461
1329,6501
Chanty Inve51rnents held al 31 DecwnLw2025
2 310.110
2 694 278
HiswiKal cost ￿￿L￿lrrfj lu￿$￿￿￿ ￿ageTh1
2,370.791
2,924.86J
2025
2Q24
Lisredinvestmenr
Fixed IntÈrtst
UK 9quit￿S
Overseas equityes
5.1rKI
722.717
89.527
2.181
43.751
770.294
935.835
775.250
45S.834
66.715
Cash as part of Invg51rn8nl wwlf(AK>
Less hdd as a9ent
1293.1461
1329.$501
2,694.278

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
17 Oeblor•
202$
2024
Due In Ihan one >*ar
PrepayThents and ￿t￿e￿ it1￿)[￿tr
redaimable undw Gift Aid
Legècies ietsYatAe
Ottwdebto
38.711
14 831
1,S21.7
9.155
10,f￿3
1.144.￿0
35,507
1.584.450
I,204,￿1
18 Cr•ditorè: am¢Juntstsllnq du• *illMn on•y•w
2025
2024
ryedit
Grfints pay2bl8
Okn taxation xwial sw)Jrity
als and defeFTed Inf￿le
61.694
158.340
41.186
87.63e
13.1
9.717
238,783
17,440
90,177
7,989
INL4861
362.04
362.106
19 Qp•r•fjh#
2025
2024
Prqml•••
Pr•ml••4
p￿bIl
Within 1 wr
2 to S b•a
2.S13
33,503
2.513
33,120
11 R•¢onGlllutJon olnvt rnpw•m•nl In n•t Gb•h Inllry*frc¥n owr•Ung •rtMtI••
2025
2024
SIElemenloffvDFAiualMbVht￿'. Nel Mumn￿1n frjnd
265.783
1492,2791
InvO$bx•nt in¢omo
Oewecial
G£ins on InvesbThen
Inu8￿ in dèbtors
ID6¢re8881 l ￿¢r8￿ in
Movemthil In wl Investrnthii ￿￿$
26.083
1128.4601
1380.3Sgl
ieoi
(S6.5￿)
33,729
177,9641
172,3301
38,942
N•t u•h •Ulll•wfttyTh WV•llty •¢llvlO
372.739
700.$58
21 An•l>*lt •f ¢h•nga ltt ¢*h y•*
2024
¢hllnge
Cash * and in Iwwj
370.Y3
1*,329
213,914
202•
2023
ChAthg•
Cash at b￿k and In hend
156.329
107.770
48,S59
31

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
22 Movementln thnds
For th• >Yar•nd•d 31 D•c•mbDr20
A11Jan
Galnsl
Al 31 D•c
2025
Rèstylctsd fun
Misswary
Personal needs
8enefKiary Win9
I55￿9￿0¥. Chithn's Furwj
Ramsden fund
Olwier fut
Ruih H￿IeY Mgmorid knd
168232
1.513.982
1.8J1.307
1.421
42.9&1
1.104
62A12
{1.499.9341
{1.826.930}
1￿,380
4.377
105.283
43.858
50.788
105283
43.6TI
48291
142.XrfJ}
1.393
174.9291
111.4ZO}
4S.13)
33.700
3S.IN))
135,LWI
431.001
WT.434
31000
42C567
Unr••trlct•dfun
Gwer81 fun0$
First So￿•
PvDli8hlno dep8ffiWt
MisswaryV￿
Or8￿tt fund
Legacy equalis•bcn
IAedical
Nlinislry supw
I￿6e￿ I.1￿.489
1418.669}
337.461
23.121
72,419
{1.7531
119.716
1.611.637
1148.709)
le66.￿>
2e6.652
4W.fXTh)
1.550.N
581.797
1.$50.LYJO
120.CLYJI
16,895
I￿.230>
197.rKAI}
30,2)0
Povertyand hJ
Str¥teoi¢ Initi8tiv• fund
EqulFThenliDd ma￿ten1￿c*
2￿,?$1
5XJ.4WJ
141.507
1#.603
278.374
362.620
131.778
132.OC•Jl
19.7291
1125,8701
3.671.100 2.244774
,140.6Z4
37.143
119.710
5.934,409
end¢jwrn￿t lund•
IArg H M8¢19on Twt
A H 8oult4n Fund
39.740
127.278
1.170
6.181
40,910
12,4431
167,011
7.3S1
171,926
To¢al fvnd•
269.119 5.73&311
&59B.O
128.4eo
4.534,802
R••tri¢t•d fun
8•n•fi¢l*ryholdlno. m¢y)•w¢W lthsthlx￿l instryrth0￿.
14*lonarle*'Chlldr•n'* Fund.Iheaim [￿j K5 ￿ YJK￿thectsk*en ot m￿S￿￿ *rrters¢x%nmended from UK assembNe5
to helpV￿lh the edLubonBI expenses inDJrr&#. umlfwiher&1Ue￿n. tr*r parents are seNng on Ihe mlssKJn ￿d.

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
22 Movement In fvnds (c¢￿￿￿￿ed)
Restrfcl•d funds
the UK.
Dls•stsv fvnd. dona1b￿S 1Wd56F￿Th8dknl5 ofcfvca nèpd. uwjaly a5 a r05L*crfnabA orhUMKitari￿ disasters.
Ruth Haill•y M•MOrf￿1Und.ffurlj￿reG￿￿d in a5 a rnl55i￿ary￿ Awola. Fu￿s￿re
di*DMted forsuiiaNe misgonth ￿ Ary4a.
App d•Wlopm*￿ fi￿d. ioitr48kw 8r#1 kntem*k)14 W. Th8 tr8n$fw In the ye8rrel*eS
to ￿ c8piL4liSètNM Dfthe Èssrwt¢d eXr*Thth￿ s*¥.
Utr)rè*trlctsd A Thd dMlonat•d luts
a•Mr•l. Fu￿$4￿1￿b￿Io Tnjstses toadrnir45*rthptywnu ctierlThwoftreCh&ity.
Flr¥t S•ry•. lunds duwgnyted l(Ytre Firnlserve pwwnrne.
Publl¥hlng d•yrtrn•nl-P￿Th10s bytr* Tr￿1¥*¥•$&-￿*N8. trthe oftts)k¥lfxi fl16s •r* prooucih>)
¢1 lh& Djity Pr¥yer GuidB 8NJ
purposes ollhe 1*8Dlywthin ￿￿)¢•r3 olre¢eW.
L•y¢y•guall•atkn. MoThes thgnthd tythe TnxleDstyJ4LI u • 70￿*￿"t0 GuFVkn￿IgWrva undertho obo¥e catewy.
rnisgonary th unresmcted. Shr￿Id that mpmanl catawc491( Inc¥2mEdedine.
M*dI￿1. 8rl In c￿¥.
Inl•try•upwt. dwnot¢d tyth• Ityovwtyofchrw mmffjtrifys Wt¢rabJrfy*tyk. 8nd
disli1￿￿0￿ ofv¢ma¢yJl¥ BIW * 81tyfr Sludyoth. r8dK)tKo*J¢a$bro•N1 ¢dher8$8￿•1fy¢ xts¥Iti￿.
NatlDn•l wor*•r. Monies d05Woled tytr*TnJJteE8to Natscrd SeThM*4e￿to dmtrbjie M￿17$ DThhJng51tsrown
i￿l￿nCUS Chnsban ￿e
Pth•rtyind r•lhf. byts Try**esi0 ￿￿•7￿•fin￿l I￿￿ofpr￿MYrIW0f0n0 h8rd$hlp.
str4t•glc InhI•ii￿. Monhx *etasthfc¢the rundirgc1rrm￿1tt*Tr WOJBtyS9k&&ty. nc(mdlyowa pornd. Thèfund
19 used for prr4aeth￿￿dBdtho COurneofrowL•rgts and tyE¢*0￿ Inwnauwl aThJ IAllmltad to t￿90 ￿h1n ihB
er¢thrnn movBmBnt(*thc4e 9ubstsntrAI links toth8 nMMmeM.
Equlpmont Jnd fflalnt•nllw•. bY￿Tr￿lee5 for¥*upkwoftheolfiL* wryeTtya￿ cllpild eypendrtureon
equipmert.

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
22 Movement In fvnds (c¢￿￿￿￿ed)
End¢Wimtthtfuthd*
AH BouttoTr Twst.The FuThY upforthe bWefftdEC￿ofS￿￿eS-thfr¢n*￿￿eTr1 fvnd eKwnentbekwé 15 a
permanent ￿￿0￿￿￿1.
rs H MAcle*n TriMt-T￿Tntsih3yry bBen setw•kKthè t*nEfiirfEfkns orSeTh￿-￿ enth)Jmient tur￿ LS &n ewd&blè
endowment.
For the ¢ndod 31 Det￿bAr2021
AtlJJn
2024
At31 ti
2024
IDrrffl• Exp•nd#w• Tran•f•r•
A•¥t￿l•d FuDd•
156.157
1.129.750
1.718.435
44.351
37.622
{1.117.575}
{1.724.437}
144.351}
I47.6￿)
168.332
Per50nJl n8eds
eenefieiary holdin9
15sw8rio¥' ChI￿r0￿.¥ FUNJ
Ramsden fund
Oisa$ier fund
Rulh H*l6y fwd
6,￿3
105.283
53,678
44.403
105.283
43.677
48.291
20.298
45.120
2.712
38.361
118.W}
4S.120
404,641 2.W.695
2.952.049
6,002
2.712
Unr•itrlct•d Fundl
OFngr¥l funds lrnergtrdhJndtsi
Flrst so￿0
Publishino doPaltrnWI
m1ssKnaryv￿
Ot S¢ott Furtd
Leoacy equaliubcn
IAodi¢81
Ministry suppNI
351.870
348.459
65.073
463,860
128.071
{148.7091
1866.696)
76.29)
581.797
4￿.(￿)
72.419
147,PA)I
619.351
286.852
450.wo
1,550.￿0
2.(W.l)J)
14&1.(NX)I
120.tt0?
139.gWI
130.2301
197.IKXII
120Tr
132.rth}
19.729}
,230
Nalion81 ther
Povartyand frJn
239.2(N8
678.360
151.2
19.103
258.781
520.490
141.S07
1125,87Ql
Equlprneniand ma￿ten￿
J 671 100
Endowrn•nt Fund•
IArg H M8clean TrLL41
A H 8oul¢ty) Fund
37.316
119.521
2.422
7.7
3P,740
127,278
156.839
10.180
167 018
To¢•1 fvnd•
.701.331 4I61M70
&03z.o
77.￿5
4.269.11#

ECHOES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202S
23 Anal￿$ olnetassds bekn￿n fvnds
En￿o￿Tn•￿t
funds
Totsl
As at 31 D•c•mbor2025
nds
Jnds
Fixed aseds
Investynenls
011￿r net £sset6
822.14$
2,097.
1.214.868
622,145
2,320,110
1.592,647
171.926
377.T79
3,934.409
428,567
171.926
4,534.￿2
Uth¥trict•d R*•trt¢t•d Endty*7n•n¢
nd•
fundB
As at 310•¢omb•r2024
Flxed wfjis
Inv95trnen
Other nei asseta
S46.527
2.9)8.969
615.fl)4
548,$27
2.724,278
998,314
48.291
382,710
167.018
3.671.ICrfJ
431.(N)I
167.018
4269119
24 R•11t￿ wtytrnn*atllon•
rt)fLthtiiaM8¢Otrtwm p>wotr•ihOn wuthj byth• SORP
25 Funth h•hl 4• 4q•nl
In th• Lwtt8ni 8r¢ w 5*8r. Ettth6 t*Wof8WW typ8n￿O￿8 a￿1 proJKts th s*nl•r pwpo$o& to
E(*008 Ihi6rn81ion81.
In IhiwMbth)o1 ￿•￿•￿￿￿)7.01912024.. n6.7291.•bJ m&Jo p8￿￿￿ of£243,S2312024". £38.8001 on
th8 instrLthN ofma (ty9rWmbc￿. Al r*tyJ 86 8llenibJ*O £293.14612024.. £)29.6￿).