REGISTERED CHARITY NUMBER: 1189318 THET SAN Shaw Gibbs Llmited Wey Court Wesl Union Road Farnham Surrey GU9 7PT
WSON MINI CONTE THE FINANC 31Ma ATEME Page Report of the Trustees 1 to 3 Ind8pandent Examlner'8 Report Ststsmont of Flnanclal Actlvitieg Balance 8hegt Notes to the Flnanclal Statsments 7 10 11 Detallod 8tat•m8nt of Flnanclal Actlvltl85 12 to 13
AVID PAWS RT OF THE TRUSTEE_ ear en rch 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectlves and aims The principal obi8ctÉve of the charfty Is the proTnotK)n of Christlan teachlng through¢Jut Ihe wodd. Slgnlflcant acllvltles In seeking to fulfil its pilncipal charltable objective the trustees have focussed on the provlsion of books and pr8recorded mater181 by the Reverend David Pawson M.A., BSC. In more recent years the Iruste8s h8ve recognised the opportunities provided by new technology, and Investment has been made lo create digital copies of many of David's works to make them available for download from the internel. Publlc bonoflt The Trusl&8s have complied wlth the duty In section 17 of the Charftles Act 2011 to havè due regard to publio ben8fl1 guidance publlshed by the Commission. ACHIEVEMENT AND PERFORMANCE Charitable actlvltles The Trust has continued its trajectory lo provide teaching at the hlgh&8t possible quality, to tha hlghest number of people al thè lowest possible cost. Free of charge wherever posslble. FINANCIAL REVIEW Flnanclal posltlon At the balance sheel date the charlty had accumulated funds of £890,698 {2023.' £1,180,736). Of these amounts £29,22512023: £35,085) related to restricted funds. The fvnds of the charlty are prfmarily held In the form of bank balan$. Durlng the year donatlons and endowments lo the charity decrèased by £246,091 and total expenditure has decreased by £70,837. Reserves pollcy Total reserves at the Balance sheel dats amounted to £890,698 of whl¢h £29,225 wa8 Restricted Funds. The Trustees consider that the level of reserves reMn appropriate on the following basis a) they enable the charity to retain a modest level of core reseNes to ensure the maintenance o the charity during a period of signifi¢antly redUd income, and b) they enable the charity to plan in the medium to longer term for the future work il wishes to carry out in the Iranslalion and distribution of Ihe body of material whtch rf( currently has rights to in the Engllsh language. Page 1
AVID PAWS NMI Ycio REPORT OF THE TRUSTEES for rc 2024 FUTURE PLANS The principal current priorilles ft)r the charity are a} translating more of the body of Christian leaching material in which il has rights into th8 most widely spoken languages of the wortd, and b) woyklng towards future proofing wld8SDread sc¢ess to thls mat8rial. Thls Involves looklng at upgrading our digltsl plafform and our media into formats that wlll survive into the future, Includlng video, eBooks and audiobooks. The wot* of translating, digrtising and sublilling Continues at good pace as well as the growing move towards eBooks and POD¢8sts. The TrJste8s are currently looklng into the developmént of audiobooks. The Trustee8 remain very thankful for all ils &aff, volunteet8and 6upport6rs. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Charty is controlled by Its governlng dooJmenL a CIO-Foundation. On 4 May 2020 David Pawson Minlstry CIO was regisler8d under charity number 1189318 at the Charlty Commisslon and on 30 September 2020 it took over all assels and activltles of The Davld Pawson Tea¢hlng Tru81. REFERENCE AND ADMINISTRATIVE DETAILS RegSstered Charlty number 1189318 Prlnclpal address Wishlng Well Cottage The Ridges FINCHAMPSTED Berkshire RG40 3HS Trustees D Rebbettes S C Dally T J Clarke Independent Examlner L Redrnan Shaw Gibbs Limited Wey Court West Union Road Farnham Surrey GU9 7PT Page 2
DAVID PAW Nl RE ORT OF THE TRUSTEE r ended 31 March 2 REFERENCE AND ADMINISTRATIVE DETAILS Solicitors Barlow Robbins LLP Concord House 185 Church Street E88t Woking Approved by order of th8 boartj of trustees on OL4. and signed on its behalf D Rebkiettes- Trustee Page 3
Ml ERE REPORT T IN TRY CIO Independent examlnefs report to the twslees of David Pawson Ministry CIO I report to the charty trustees on my 6xaminatlon of the accounts of David Pawson Ministry CIO (the Trust) for the year ended 31 Mah 2024. Responsibilities and basls of report As the charty trustees of the Trust you ar6 resFJonslbl8 for the prepar*ion of the accounts In accordanc8 With the requirements of the Charities Act 2011 he ACVI. I report In rèspect of my examination of the Trusts accounts carried out under Sectlon 145 of the Act and in carrying out my examination I have followed all applicable Directions glven by Ihe Charlty Commisslon under Section 145(5)(b) of the Act. Independent examinèr'8 Statemènt I hav8 Completed my examination. I confirm that no material matters hav6 me to my attention In onnection with the examinalion giving me cause to believe that in any matèrial respect.. accounllng records were not kept in resped of the Trust as required by Secllon 130 of the Act; or the accounts do not accord wRh those records,. or the accounts do not comply with the applicable r8quirem8nt8 contsrning the form and content of accounts set out In the Charities (Accounts and Reports) Regulatlons 2008 other than any requlrement that the accounls give a true and fair view which 1$ not a matter consldergd as part of an independent examln8tion. I have no concems and have come acr088 no othèr matters in connectlon with the examinatlon to whl¢h attentlon should be drawn In th1$ report In order to enable a proper understandlng of th& accounts to be reached. L Redman Shaw Gibbs Limited Wey Court West Unlon Road Farnham Surrey GU9 7PT Date.. Page 4
D PAWSON MINI ST FINANCIAL en ed 31 March 2 for 2024 Total funds 2023 Total funds Unrestricted Restricted fvnd funds Notes INCOME AND ENDOWMENTS FROM Donatlons and legacie8 102,147 102,147 411,522 Investment Income Other income 8,721 15.822 8,720 15,822 3,001 21,058 Total 126,690 126.889 435,581 EXPENDITURE ON Charltable activitles Dlrect Charitable Expenses Admlni6tration 389,663 1,205 5,859 395,522 1,205 160,453 16,012 Total 390,888 5,859 396,727 176,465 NET INCOMEIIEXPENDITURE) (284,178) 15,860) (270,038) 259,116 RECONCILIATION OF FUNDS Tot81 funds brought forward 1,125,651 35,085 1,160,736 901,620 TOTAL FUNDS CARRIED FORWARD 861,473 29,225 890,698 1,160,738 The notes form part of these financial statements Page 5
AVID P N MINI __CE SHE 31 Mar h 2024 2024 Tokl funds 2023 Total funds Unreslricted Restricted fund funds Notes FIXED ASSETS Intanglble assets 1,507 1.507 3,013 CURRENT ASSETS Debtors Cash at bank 5,704 862,38g 5,704 891,614 463,041 707,949 29,225 868,093 29,225 897,318 1,170,990 CREDITORS Amounts falling due wllhln one year 18,127) (8.127) (13,267) NET CURREKf ASSET8 859,966 29,225 889,191 1,157,723 TOTAL ASSETS LESS CURRENT LIABILITIES 861,473 29,225 890,698 1,180,736 NET ASSETS 881,473 29,225 890,898 1,160,736 FUNDS UnrestAded funds Reslrlcted funds 881,473 29,225 1,125,651 35,085 TOTAL FUNDS 890,698 1,160,736 The financlal statement8 were approved by the Board of Trusleeg and authorised for issue on I..1...0 L4: . and were signed on Ils behalf by., D Rebbettes- Trustee The notes form part of these fin8ncial statements Page 6
AWS TEST Pl[HE FIN for the NCIAL 31 TEMENTS eare ACCOUNTING POLIC1&8 Basls of preparing the Ilnanclal statements The financial statements of the charity, which Is a public benefit enlity under FRS 102, have been prepar8d In acrdanCe with the Charitles SORP {FRS 102) 'Accounting and Repoiting by Ch8rilies.' Statement of Recommended Practice applicable to charities preparing their accounts in accordan wlth the Financial Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021 (effective 1 January 2019)., Financial Reportlng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The finan¢lal stslements have been prepared under the h15torical cost convention. Income All Income18 recognlsed in the Statement of Financial Actlvrtles once the charity h8s enllllement lo the funds, 11 Is prob8ble thal the income will be received 8nd the amount can be measured r91iably. Expendltura Liabilities are recognised as expenditur& as soon as ther8 15 a legal or ¢onBtruclive obligallon committing the charity to that expend+ture, it Is probable thal a transfer of economic benefits wlll be required In settlement and the amount of the obligation can be measured reliabty. Expendllure is aceounled for on an accruals basis and has been classified under headlngs that aggregate all cost related to the category. Where costs ¢annol be directly attributed to partlcular headincs they have been allocated to activities on a basls ¢onslstenl wlth the use of resources. Intanglblo flxod a8s0ts Deprecl8tSon Is provSded 8t the followlng annual rates In order to wre off inlanglble assets. Vvebslte - 3 year8 Repurchase of rlghts to written works - 10 years After the passing of Davld and Enid Pawson, all rfghts and royalties are owned by David Pawson Ministry CIO. raxation The charity18 exempt from IrKome lax on 5ts charitable aollvllles. Fund accountlng UnreStcted funds can be used In accordan with the charflable objectives at the dlscretion of the Iwstees. Restricted funds can only be used for particular ostricted purposes withln the objects of the charity- Restrictions arise when specified by the donor or when funds are ralsed for particular reslricled purposes. Further explanation of the nature and purpose of each fund is induded in the notes to the financial statement8. Page 7 ¢ontinued...
ONMI RYCI THE FINANCIAL STATEME for 31M nue 2024 INVESTMENT INCOME 2024 2023 Deposit account interest 8,720 3,001 TRUSTEES. REMUNERATION AND BENEFITS There were no trustses, remuneratlon or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Truslees, exponses Thgre were no trustees, expenses pald for the y@ar ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fijnd funds Totsl funds INCOME AND ENDOWMENTS FROM Donatlons and legacles 411,522 411,522 Invèstment income other irscome 3,001 21,058 3,001 21,058 Total 435.581 435,581 EXPENDITURE ON Charitable a¢tlvltles Dlrecl Ch8rilable Exp8n$es Adminlstrallon 160,453 16,012 180,453 16,012 Totsl 176,465 176,465 NET INCOME 259,116 259,116 RECONCILIATION OF FUNDS Total funds brought fomard 866,535 35.085 901,620 TOTAL FUNDS CARRIED FORWARD 1,125,651 35,085 1,160,736 Page 8 continued...
PA TRYC OTE LO.-THE FINANCI orthe ear en STATEMENTS - 31 March 2 tln MOVEMENT IN FUNDS - conllnued Comparative net movement in funds, Included in the above aré as follows.. Incornlng r8sour¢es Resources Movement exp8nded In ftsnds UnregtrSctÈd fund8 General fund 435.581 {176,465} 259,116 TOTAL FUNDS 435,581 {176,465} 259,116 RELATED PARTY DISCLOSURES Th& charity has grantèd a L5¢ence t? dlstribvte the works of the Reverend David Pawson to David Pawson Publishing Limited I'DPPL"), a charilable company (registered charlly no. 224579). Mr S Dally, a trustee of David Pawson Ministry CIO ("DPM">, Is also 8 director and trustee of DPPL. During the year DPM received royalty income from DPPL of £985.75 {2023: £5,912). It also made donatlons to DPPL totalllng £295,907 (2023 .' £63,604). Al the balance Sheet dale ther8 was an amount of £4,124 du8 from DPM to DPPL 12023.. £2,903 owed from DPPL to DPM); th18 balance Is Included wllhln elther "Other debtors" or "Oth8r cr8dilor8 Page 11