Ligonier Ministries UK Unaudited Financial Statements for the year ended 30 June 2025 Charity Registration Number - 1185736 JCS Accountants Limited 5 Robin Hood Lane Sutton Surrey SMI 2SW
Ligonier Ministries UK Financial Statements for the ycar ended 30 June 2025 Contents Page Charity information Trustees, report Independent Examiner's report Statement of Financial Activities Balance Sheet Notes to the financial statements 9-13
Ligonier Ministries UK REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Rev M G Johnston Dr J Morris C E Larson Registered office Union School of Theology BryThtirion House Bryntirion BRIDGEND CF314DX Charity number 1185736 Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent MEI9 4JQ Stewardship Services i tamb's Passage IA)ndon ECIY 8AB Independent Examiner Miriam Hicksons FCA cfA JCS Accountants Lirnited Suttou Surrey SMI 2SW Solicitors Bates Wells io Queen Street Place IA)ndon, EC4R IBE Page 1
LIGONIER MINISTIUES UK TRUSTEES, REPORT The Trustees of the Charitable Incorporated Organisation ("the CIO") present their Annual Report and Financial Statements for the year ended 30 June 2025. The accollllts are prepared in accordance with the Charities Act 2011, and with the Charities Statement of Recommended Practice 2019. applicable to eharities preparing accounts in accordance Mryth FRSio2. Strueture, Governance and Management The CIO was registered on io October 2019. The CIO is governed by its Constitution. Appointment ond induction of Trustees Every Trustee must be appointed for a term of four years by a resolution of the charity trustees. A trustee whose term of office has expired shall be eligible for reappointment for a further term and there is no maximum on the number of terms of office which a trustee may serve. Any appointment or reappointment of trustees is subject to reeW by tAgonier US. Appointments will be made in accordance with the Charitys Constitution. In selecting individuals for appointment as trustees the trustees have regard to the skills, knowledge and experience needed for the effeetive administration of the CIO. tAgonier has long-standing relationships with pastors and theologians in the UK. Board mernbers are identified based on their Reformed teaching background, their alignment with tigonier's mission and lsIon. and organisational business skills. Once a potential trustee is identified, then the nomination is reviewed and approved by Ligonier US and tigonier UK Board of Trustees. New trustees undergo an induction to brief them on their legal obligations under charity law, the content of the Constitution, the Board and the decision-making processes and the rent performance of the charity. They meet the key officers and the other trustees. Changes in legislation, for example the Charities Act 2011, and its application to the Charity, especially the public benefit requiTements, have been explained to Board members and discussed at Board meetings, and the Board has given due regard to the guidance issued by the Charity Commission in respect of public benefit. Description of the organisational structure The Charity is run by a Board of Trustees and presided over by the Chairman. The Board is responsible for the financial management and long-term operational deeisions of the Charity. The Chairn]an is responsible for the day-to-day operations, and it outsources all bookkeeping tasks to JCS, a third-party accounting firtll. Relatedparty iigonier US is ligonier Ministries Inc, established in 1975 and registered as a non-profit organisation under the US Internal Revenue code. Ligonier US provides the teaching and theological framework which informs all educational and discipleship outreaches. tigonier US also provides strategic and operational assistance to the UK entity, including donor acquisition strategy, cornmunieations strategy, and event preparation and execution. The IAgollieT US Board of Directors proiqdes the tigonier UK Board of Trustees with guidance supporting and developing brand continuity. Ligonier US and Ligonier UK have entered into an affiliation agreement that includes provisions for using the Ligonier name and assockated marks to leverage the expansion of the Ligonier mission throughout the UK. Both entities have entered into a service agreement by which tagonier US provides financial and administrative support for all ministry activities until the UK Charity has the viability to perform its operations or8aThically. Page 2
IIGONIER MINISTRIES UK TRUSTEES, REPORT (eontinued) Risk ossessment The trustees have identified the irnmediate risks to which the Charity is exposed and, as far as is possible, taken aetiolls or begun to assess strategies and systems to mitigate these risks. The Trustees consider the potential risks and uncertainties facing the charity and their plans and strategies foT managing these risks to be: New and changing Charity legislation- ligonieT UKsees opportunities to further assist and encouragc the Church as increased marginalization of churehes and faith-based chaTltable organizations continues to prevail. To mitigate this risk, the Charity plans to remain alert to specific public policy and government actions that could adversely impact churches and charitable organizations. Bates-wells and other legal and public policy experts, will assist in guiding the Charity and ensuring that it remains nimble in its reaetion to new regulations and adequately responds to pressures to reduce or eliminate ehurch and faith- based charitable work. Compliance with new GDPR legislation - Ligonier UK reeognizes internet fraud and misuse of personal identifiable information is a threat that impacts all modern organizations. To ensure compliance and minimi7e probabilities associated with such malicious actity, the Charity is working earnestly to adapt to new UK data privacy challenges, particularly as data is shared between the US and UK charities. The Charity is also working to minimize risk for data breaches through coordination with data privacy attorneys in the UK and working with GDPR compliant donor manageTnent platforms and service providers. Developing a Strong Donor Base - Ligonier UK has a small baseline of UK-based Constituents who financially SllPPOrt the US ministry and will transition, in tirne, to support the UK Ministry. There exists uncertainty as to predicting the timeline for the Charity to become self-funded, however, it is currently developing a eomprehensive donor outreach strategy to develop relationships that will hopefully lead to generous gifts of resources from the publicand will help donors understand and support the mission and Nrysion of the Charity. The Charity is also making maximum use of Ligonier US content, conferences, and outreach and available to undergird the UK churches. Objectives and Activities The principal objective of the charity is the advancement of the Christian faith, specifically the Reformed faith, in accordance with the purpose of the Charity whieh is to proclaim, teach, and defend the holiness of God in all its fullness to as many people as possible. To help achieve its objectives the charity focuses in three areas: publishing, broad&]sting and events. The Charity provides trustworthy discipleship resources such as books, study Bibles, magazines, and many other online articles so that Christians can grow in their understanding of God and of themselves. Additionally, the Charity airs podcasts, video teaching series and radio programs via several digital mediums. Lastly. the Charitygathers Christians at events all oveT the world and online in an effort to bless the local church and strengthen its members for greater service. Page 3
LIGONIER MINISTRIES UK TRUSTEES, REPORT (continued) Achievements and Perfomance During the reporting period, the Charity has continued to establish presence in the United Kingdom through a Ligonier US conference and Pastor's preconference in Belfast where participants were made aware of Ligonier UK . Financial Review During the year to 30 June 2025, the charity received £71,647 in a grant from US Ligonier, £7,759 in donations and £1,421 in gift aid. The support costs of the charity were funded by a previous year loan and the grant from Ligonier US. Reserves policy The ministry seeks to achieve a minimum three-month reserve based on annual Tninistry budget projeetsons. The charity currently has unrestricted reserves of £45,840. These reserves are adequate to meet the current reserves policy. Investment policy Surplus funds will be directed to additional outreaeh and mission support. General investment of surpluses will remain in the local bank account or perhaps be invested in easily liquifiable and low- risk investment platforms. tA)ng term-endowTnent t)Tie gifts may be held in 5-10-year alternative fiat investment options and/or digital currency holdings. upon Trustee approval. Plans for the future and Public Benefit ligonier UK wryll seek to engage with the local church and like-minded ChTlStians through events, conferences, and pastoral seminars throughout the UK. Continued leverage of digital and print resources will occur through third party sales and distribution. tigonier UK plans to hire its first employee in the eorning year to manage UK partnerships and support the entity's growth. The employee will provide support to donors and churches and assist in ministry and donor development. In making these plans the trustees confirm that they have complied with the duty in Section 4 of the Charities Aet 2006 to have due regard to the public benefit guidan published by the Charity Commission. Page 4
LIGONIER MINISTIUES UK TRUSTEES, REPORT (continued) Statement of Trustee's Responsibilities The trustees are respon.sible for preparing the Trustees. Annual Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair Niew of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable aecounting policies and then apply them consistelltly; observe the methods and principles in the Charities SORP. make judgments and estimates that are reasonable and prudent. state whether applicable aeeounting stalldards have been followed, subject to any material depaTtures disclosed and explained in the financial staternents. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disdose with reasonable aceuraey at anytime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the eharity and hence for taking reasonable steps for the prevention and detection of fraud and other krregularities. ehalf of the B rd C E tarson April 8th 2026 Page 5
INDEPENDEwf EXAMINER'S REPORT TO THE TRusfEE'S OF IJGONtER MINisfRIES UK I report to the charity tn[eeS on my examination of the accounts of ligonier Ministries UK (the Charity) for the year ended 30 June 2025 set out on pages 7 to 13. Responsibilities and basis of report As the ehariws trnstees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Aet 2011 ('the Act). I report in respect of my examination of the Church's accounts as carried out under section 145 of the Act and in carrying out my ex2m1]tion I have followed ajl the applieable Directions given bythe Charity COM]Ssion ullder section M5{5)(b) of the Act. Independent examinerfs statement I have completed my £YarnItIon. I confirm that llo tterS have come to my attention in connection with the examination giving me cause to believe that in any materÉal respect: accounting records were not kept ill respect of the Church as required by section of the Act" or the aeeounts do not acwrd with those records" or the accounts do not comply with the applicable requirements concerning the forni and content of accounts setoutin the Charities (AecouDts and Report) Regulations 2008 other than any requirement that the accounts give a trne and fair vieW which is not a matter considered as part of an independent examination" or the accounts have not been prepared in accordance with the methods and principles of AccountiDg and Reporting by Charities: Statement of Recornmended Prarttce applieable to charities preparing their accouDts in accordanee with the Financial Reporting Standard applicable in the UK and the Repub]ic of Ireland (FRS 102) I have no concerns and have come across no other matters in connection wAth the examination to which attention should be drawn in this report ill order to enable a proper understallding of the accounts to be reaehe Miriam Hickson cfA FCA JCS Accountants limited 5 Robin Hood lane Sutton, Surrey SMI 2STA' Date: IS Apv*AI ZoZ6 Page 6
LIGONIER MINISTRIES UK FINANCIAL STATEMEwfs FOR THE YEAR ENDED o JUNE 202 Statement of financial activities For the year ended30 June 2025 Note Total Funds Total Funds For the For the year 6 months ended ended 30 June 30 June 2025 2024 Income from: Donations.. Donations & IEgacies Investments.. Interest receivable 80,827 1,744 Total income Expenditure on: ChaTltable activities 866 Total expenditure 866 Net income/(oYpenditure) & movement in funds 68,627 (3,104) Fund balances brought forward at i July 2024 22 68 Fund balances carried forward at 30 June 2025 Page 7
LIGONIER MINISTRIES UK FINANCIAL sfATEMEWtS FOR THE YEAR ENDED o JUNE 202 Balance Sheet As at 30 June 2025 Note 202S 2024 Fixed Assets Tangible assets Current assets Debtors Cash at bank and in hand 27,643 154 111,115 15,082 liabilities Creditors: amounts falling due within one year Net current assets/(liabilities) 81,959 13,332 Creditors.. Amounts falling due after more than one year Net assets/lliabilities) Funds General fund se financial sta ements were approved by the Trustees on April 8th 2026 . E larson Chairman Page 8
LIGONIER MINISTRIES UK NOTES TO THE FINANCIAL STATEMEwrs FOR THE YEAR ENDED 30 JUNE 2025 i AccouKfiNG POLICIES The name of the CIO is UGONIER MINISTRIES UK. It is registered with the Charity Commission (number 1185736). The CIO'S registered office is Union School of Theology, Br)Trtirion House, Bryntirion. BRIDGEND CF31 4DX. The principal accounting policies adopted, judgments and key sources of estimation uneertainty in the preparation of the financial statements are as follows: Basis of preparation The financial staten]ents have been prepared under the Charities Act 2011 and in aecordanee with the Constitution, the Charities Statement of Recommended Practice 2019 (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting. tllgonier Ministries UK meets the definition of a public entity under FRS 102. The financial statements are prepared in Sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest pound. In 2024, the Charity decided to change its fiscal year from i July to a 30 June year-end. This fiscal year ehange also applies for future years. Due to the six month transition period from i January to 30 June 2024, the comparative figures are not an adequate comparison to the year ended 30 June 2025 figures. Going concern There are no material uncertaillties about the charity's ability to continue as a going concern. Tangible red assets Tangible fixed assets costing more than £100 are eapitalised and included at cost, including any incidental expenses of acquisition. Depreciation Depreciation of fixed assets is calculated to write off fixed assets over their estimated useful economic lives, as follows: Computer equipment- 33% reducing balance. Debtors Grants receivable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid. 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 opening of the deposit. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to Page 9
settle the obligation ean be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. Page 10
LIGONIER MINISTRIES UK NOTES TO THE FINANCIAL STATEMEwfs (continued) FOR THE YEAR ENDED 30 JUNE 2025 i AccouNfiNG POLICIES (Continued) Financial instruments The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Income recognition Donations and other incotning reSoUrS (including legacies) are included in the Statement of Financial Activities (SOFA) when the charity has entitlement to the ineome, it is probable the income will be received, and the amount of income Teceivable cAn be reliably measured. Deferred income recognition All deferred income relates to Conference incorne received during the period which relates to future events. Expenditure recognition All expenditure is accrued as soon as a liability is considered probable. discounted to present value for longer term liabilities and has been classified under headings that aggregate all costs related to the category. Support costs This comprises all expenditure incurred in supporting the work related to the objects of the charity. Governance costs Governance costs are those eosts associated with meeting the constitutional and statutory requirernent.8 of the charity and include professional fees and Costs linked to the strategic anagement of the charity. These have been alloeated directly to charitable expenditure. Fund accounting General funds are unrestricted funds which are available for use, at the discretion of the Trustees, in furtheranee of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are those subject to specific trusts, which May be declared by the donor or with their authority. The charity has no restricted funds at this time. Page11
LIGONIER MINISTRIES UK NOTES TO THE FINANCIAL STATEMENfs (continued) FOR THE YEAR ENDED 30 JUNE 2025 2 CHAIUTABLE AcfiviTIES EXPENDITURE For the year ended 30 June 2025 For the 6 months ended 30 June 2024 Raisingfvnds.. Publicity Direct charitable expenditure.. Newsletter Conference expenses Grants Support costs.. Administration Bank Fees Insurance Depreciation Governance costs Administration costs IEgal fees Accountancy and independent exan]iner's fees Charitable expenditure 66 224 30 103 4,800 2,400 2,400 Total expenditure The fees charged by the Independent Examiner, accrued in these financial statements amount to £1,200 (2024: Nil) The Independent Examiner, was also paid £3,539 (2024.. 2,333) for services relating to the preparation of statutory accounts, bookkeeping and tax advisory servi. Page 12
IIGONIER MINISTRIES UK NOTES TO THE FINANCIAL STATEMENfs (continued) FOR THE YEAR ENDED 30 JUNE 2025 3 FIXED ASSETS Computer Equipment Tangible fixed assets Cost At i July 2024 Disposals At 30 June 2025 Depreciation At i July 2024 Charge for year Released At 30 June 2025 Net book value At 30 June 2025 At i July 2024 4 DEBTORS 2025 2024 Prepayments Gift aid receivable 26.443 154 5 CREDITORS FALLING DUE WITHIN ONE YL4R 2025 2024 Trade creditors Accruals 26,825 660 6 CREDITORS FALLING DUE IN MORE TIL4N ONE YEAR 2025 2024 Other creditors- Due to tagonier US. Page 13
LIGONIER MINISTRIES UK NOTES TO THE FINANCIAL STATEMENfs (continued) FOR THE YEAR ENDED 30 JUNE 2025 RELATED PARTyTRANsA1oNs None of the Trustees or key management personnel received any remuneration or benefits in respeet of services prOded during this period. There were no expenses reimbursed to trustees. During the period: iagonier US made a grant of £71,647 (2024.. Nil) to the charity. Ligonier US provided an interest free and unsecured loan to the eharity. At the period end the charity owed £36,119 (2024: £36,119) to Ligonier US. Page 14