Company Registration Number CE026901 Charity Registratlon Number 1196156 B-LESS CHAR￿ABLE INCORPORATED ORGANISATION UNAUDrfED FINANaAL STATEMEKrs PERIOD ENDED 31 AUGusf 2025 B-LESS CONTEprrs Page Tru5tees' Report Independent Examiner's Report Statement of Financial Artivities Balance Sheet Notes to the Financial Statements 7-11 LESS TRUSTEES, ANNUAL REPORT FOR THE PERIOD ENDED 31 AUGUS[ 2025 The trustee5 present their report and the unaudited financial statements of the charity for the perlod ended 31 August 2025. Reference Admlnstratlon detalls Reglstered charity name B-Less Charity reglstration number 1196156 Company re8iStration number Prindpal office and reBiStered office CE026901 11 Holwwell Street Oxford OXI 3SA Trustees George Diwakar John-mark Teeuwen Nicolas Wu Andrew Young Independent Examlner Andrew P CT05s1ey FCA Baldwin Cox Umited Chartered Accountants 15 Foster Avenue Beeston Nottingham NG9 IAE Objtcth￿s and Activities B-Le5S èxlsts to advante the Chrtstlan Faith among S￿dents in universities. theological colleges, training colleges. technical colleges and other similar institutions throughoul Great Britsin through the provision of scholarships to Braduate students to SllPPOrt and mentor Christian undergraduate students. In pursuit of these objectives, during the foreshortened 2024-25 reporting year. the charity has recruited. trained. and deployed Christian masters and dortoral students io serve as encouragers, mentors. and evangelists in a variety of higher educational contexts. In the 2024-25 academic year, the number of scholars has expanded from eleven to fifteen. indudirvd our first scholar base(l at Dutham University and one serving in an augmented part-time role as a B-Le5s As50Cl3te. Fourteen of the 5cholar5 were pursuing de8rees at Oxtord University, consolidating our position as a major supporter of the Oxford Inter-ColleBiate Chrrstian Union. Initiatives 5UPPOrted by B-Less scholars included: Theology Network- A local faculty-based group Convened by the Universiknes and Colleges Christian Fellowship IUCCFI in Oxford. The Search- A weekly outreach event organised by Oxford Iniercollegiate thristian Union in OKford. The student ministrles of Oxford Presbyterian Church IOPCI and St Ebbe's Church. Otherfaculty network 8roups based in Oxford focusing on History and STEM subjects. The running of the OICCU'Events Weev thrO￿h the prwsion ofcolle8e helpets. A nascentTheoloBY Network initiative based in Durham. LESS TRUSTEES, ANNUAL REPORT ICOPfflNUEDI FOR THE PERIOD ENDEO 31 AUGusf 2025 ObJeth5and Actlbrftles1(ontlnuedl The scholarship scheme has receNed warm SUPF¢)rt from students. clwrche5. and othei para-church organisalTons wf(h whom we work in partnership, whik, behind the s￿￿5, the administration and rnanagernent 0¢ the charrty ha5 thebped, culminatin8 in the ￿ruItrnent of a part-time Charity Manager teginnin8from September 2025. In iheir oversight of these deveknpments. the Trustees of B-Less have been guided by a focu5 on public benefit a5 laid out in the charitable objects registered with tl* Charity commis￿n. B-Less scholars are volunteer5. ￿¢rUited throu8h a rigomus process irwofvinK KxJblK adverttsement of the opp)rtunty, 5ubrni5sion of appl￿titin and self-discbsure form5. solicthng of reference5, inteThiews. DBS checks, and 5afe8uardin8 training. kholatships are regulated by 8 SiKnÈd. time-lirnited volunteer contracts. The B-Less assockaieship is a pèrt-tiw￿ Staff Position. to the sarne rigorous recruitrnent process. but regu￿tsd thfough a conuact of empknv￿￿nl. Following a year of COn￿lIdatiOn In 202>24. 2024-25 was a of strengthening ex￿Ing a￿S of support while Successful￿ expanding into area5. Scholars Corfinued to provide important supporting roles at Theology Network and The Search. SupFrf)rtl￿ evangelKal undergraduates with the challenges faced by studying secular academ￿ theob8y and taking part in the Christian UnKJn's outreach reSpeftfve￿. Table leaders at The Search. in partKular. were ab￿ to use the opwrtunit*s afforded by thelr stsius as yaduate students to present a Credib￿ (ase for the p￿v51b11rtV ol evangelical falth In an academic contexL and also bjikl ckne relat￿r￿h1ps with reguLar groups of students on the1rtab￿s. The establishment of new inityatw in SO￿ area5 brought challenges. e5FecIal￿f with regards to gathering students in faculty groups. however. scholats showed impressi¥e ftexibility to make the rnost of the opportvnities they were given to reach s￿dents wfthin the OJ. The introduction of a larye number of Incoming scholar5 ￿￿antthat some fai￿ to initialty grdsp the col￿b013t￿e n?￿re of the B- Less pro*rt. bjt thi5 imptoved overthe year. especialty folk)¥Angthe mid-yearscholaT5hip reviews. The Introduction of one sch)tsr In Purharn was a resoundinK success. with a ￿rge aml keen Theokn8y Network group belng quickty forrned. The Comparative size of the Durham CU and less intense work environment wfthin the Unfversty mearbs that there are many opporlunities for expansion of the scholarship network Durham. reflerted in a large number of appI￿at￿Tr$ to the wogramrne for tF* 2025-26 academic yearwith several potential new initiatNe> Inc￿51￿ the pctyjl of scholars in Oxford ￿(On￿1￿jated the Fx)sit￿ft of 8-Less asan imp)rtant wrce of 5UPPOrt for the CV. and integrating UCCF Staff Workers in the bi-weekty colk)quia has assisted lines of eommunKatlon between 8-Less anti oicaj. B-Less schoLar5 played an fjmF￿rtant role during the Events Week. servinE a5 co1￿￿e helpefs and assistin8 Wtth first tontact outreach. woviding essentral nurrerical ￿InforCeMent to the CU and kKal churche5. Scl*)lar5 sernrq as bng-term, year-round supporters of colkge CU$ Struggled to gain a toothold, IK>wever. gJ88esting that more needs to done to persuade indNidual CU rnembers of the ber*fits of grathjate sUPPOrt. Consolidation ITh Oxfotd and expanskiTr in Durhaffl has begun to show the imrK•rtance of B-Less on a atk)nal scale. and COnve￿tiOnS have begun to fvrther de¥ek)p partnershlps with UCCF and other organisatlons at other UnNersities. One outhow of thi5 15 the rffruitment of our first schtslar based in Cambridge forthe 2025-26 aCadem￿year. to flll a gap in SUPFOrtforTt*oby Networkthefe. 8-LESS TRUSTEES, ANNUAL REPORT {CONTINiIED) FOR THE PERIOD ENDED 31 AUGL15f 2025 Financlal Review B-Le￿ has erbded the financval year irb a healthy state. with the reseNes policy of holding funds suffitient to cover three months oFerating exFenses consistentty meL Wss contin￿5 io re￿Ne support from US- and LIK-based Lknnor5. The rntH) of kKal contrIbuth￿s has continued to increase as the work becomes more established. and we have also t*en exclted io add 5e¥eTrl new supportlne churthes in the US through our8r0￿￿ Prestyterian Connect￿ Working in consuttatKn with the Board of Trt￿￿$. the Dlrector and the irtoming Charlty Manager dec*ded to foreshorten the 2024-25 flnanclal year and shrft to a September-AugLtst annual accounting pattern. This better ￿fleCts the rh￿M of income and exFenditure for the chaiity. as our attNitles are largely strurtured around the ècademic year with a new cohort of schojars coming onboard each ptember. Stru¢¢ur¢. Go¥emance and Management B-Les5 is è Charitable Incorporated organ￿tiOn iaoi wistered wrth thE c￿rity Commts5*)n in the United Klngdom. Eligibility for tfUSteeship and procedures for ap￿1￿Ing trLLttees are set out in detail in our charlty cOnstrf(Ut￿ll. It is our policy that new trustee5 can be appointed. and extsting trnstees reappolnted. for a maximum tem) of three years by a resolut￿n passed at a propedy convened rneetin8 ofthe charty trustees and that no tntstee mayser¥e for k)ngerthan three consecutNe temis. Following construrtNe feedback potential instf(utional funders. 8-Less implemented a series of strutturing proposals in January 2025 designed to refiett the grown8 maturity of the chanty. Our Director and founder. Neil Martin. ￿l￿ed his weekty contsarted hours from 25 to 20, mtrroring the irscreasin8 scale of hi% commr(ment to Oxford P￿tsYrer1an Church Whe￿ he also serves as part time Associate Mini5tei. The church also took on reS￿nsIbIlIty for the tenancy of Neif5 home in central Oxford, and its assocSated al￿￿able expenses. reflerting its increasing use for Churc1￿￿11ted actNitie5. Our accountants. 8aldwirt Cox. prO￿ded valuable ad¥￿e on the correct treatment of benefrts in kind. To a5515t with the managernent of the charity and to reflect the growing slze and scope of the work. Less has taken on a part-time Char(ty Manager. from September 2025. This appointment will enable B- Less to mre adequate￿ supp)rt Tts yowifig scholarship prcydmme. whilst also freeiAR Neil up to invest in his work as a minister and as an academK. All trustees and staff recep￿ safeguarding training provided Iw our paMer or8ani5atK)n. ThirtyOne'.Eight. 8-Le5s woths closety in partnership wtth the Universitie5 and Colle8es Christian Fellowship IUCCFI who convene and supervise many of the groups and events in whKh Wss scholars and a55(KKites ser¥e. Local and natioThal VCCF staff are represeThted oft Wss Select￿ panels and placement supervislon 15 uThdertaken wtth inputfrom local UCCF ￿ade￿. Pre￿￿ed byand sI8ned on behaff of theTrustees oTh._....... Trustee B-LESS INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF B-LESS FOR THE PERIOD ENDED 31 AUGUST 2025 I report to the trustees on my examination of the accounts of the above charity {"the Trust") for the period ended 31 August 2025. which are set out on pages 6 to 12. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Art 20111.the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Art and in carrying out my examination. I have followed all the applicable Direction5 given by the Charity Commission under section 145{511bl of the Act. Independent txamlnerfs ststement I have completed my examination. I confirm that no material matters have corne to my attention in connection with the examination whith Elves me cause to believe that in. any rnaterial respect= the accounting records were not kept in accordance with section 130 of the Charitie5 Art,. or the accounts did not accord with the accountin8 records: or the accounts did not comply with the applitable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Andrew P Crossley FCA Baldwin Cox Limited Chartered Accountants 15 Foster Avenue Beeston Nottingham NG9 IAE B-LESS STATEMEKf OF FINANCIAL AcnvmES FOR THE PERIOD ENDED 31 AUGUST 2025 Period Ended 31 August 2025 Year Ended 31 October 2024 Note5 Incoming resources Income and endowments from: tk*nations and legacies Investment5 102.159 378 155.590 316 Total 102,537 155,906 Resources expended Expenditure on: Charitable activities Other 26,780 50.330 36,763 106.333 Totsl 77.109 143,096 Net lexpenditurellincome 25,428 12,810 Reconclllatlon of funds: Total funds brought forward 27.425 14.615 Total funds orrled forward io 52.853 27.425 B-LESS BALANCE SHEET AS AT31 AUGUST Z025 2025 2024 Notes Fixed Assets Tangible assets 4,570 1.611 Current Assets Debtors Cash at bank and in hand 13,785 36,054 14,437 13,481 Totsl current assets 49,839 27.918 Creditois: amounts falllng due within one year 11,5561 12,1041 Net Current Assets 48.283 25.814 Total Net Assets 52.853 27,425 Funds of the Charity Unrestricted funds io 52,853 27,425 The financial statements on pages 6 to 12 were approved by the trustees on their behalf by.. dand signed on Nwu Trustee A Young Trustse -LESS NOTES TO THE FINANCIAL STATEMENfs FOR THE PERIOD ENDED 31 AUGUST 2025 Ba515 of accounting These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherise stated in the relevant note to these accounts. The accounts have been prepared in accordance with the Staternent of Recommended Practice= Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014. and with the Charities Act 2011. Accounting policies Recognition of income Income is included in the Statement of Financial Activities when the charity becomes entitled to the resources, it is more likely than not that the trustee5 will receive the resources, and the monetary value Can be measured with sufficient reliability. Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at COSt or valuation. net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of a55ets less their residual values over their useful lives on the following bases: IT equipment 25% on cost Twtlon The charity is a registered charity and accordingty is exempt from taxation on its income and gains where they are applied for charttable purposes. Accounting period The accounts cover the period from l November 2024 to 31 August 2025. The comparatives cover the year to 31 Ortober 2024. LE$5 NOTESTO THE ANANCIALSTATEMEpifs (CONTINUED) FOR ThE PERIOD ENDED 31 AUGUST 202S AMaty5￿ 01 Sncome Lksnations and legKies tk)nations and gifts 102,159 IS5.$￿) Ir￿eSt￿￿Thts Bank Interest 378 316 All in¢ome re￿IVed In ts perifxl was unre51Tthd. A￿l¥S1$Of expendlture Charsiabje actwitie5 1.421 34A16 Payments to schola Training DBS checks contr￿￿$ ft¥rxholar5 25.962 526 26.781) 36.763 Other General manager reThJneratlon Rent Other property costs Computeru>sts Travelling costs Subscriptions Legal and professfjonal fees Accountancy Bank char8es Transfer th4rye5 InwrèrNz P05tsge. printiwd and sww)nery Te￿phoTre costs Sundry expen5e5 oewec1at￿n 3L161 5.333 125 2.261 31,917 6.416 IA30 4.992 976 166 2.135 240 943 2.3￿) 103 2.342 L191 1.823 L210 50.330 106.333 B-LESS NOTES TO THE FINANCIAL sfATEMEKfs ICONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2025 Staff costs 2025 2024 Salaries and wa8es Social security costs Pension costs 39,436 626 1.058 62.900 1.258 2.059 41.120 66,217 No employees received employee beneffts (excluding employer pension costs) for the reporting period of more than £60.IXX). The total amount paid to key management personnel (including trustees and senior management) for their services to the charity for the year was £31.16712024.. £50,IX(J). The average monthly number of persons employed by company during the year was: 2025 Number 2024 Number Total Defined contribution penslon scheme costs 2025 2024 Amount of contributions reco8nised in the SOFA as an expense 1,058 2,059 B-LES5 NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE PERIOD ENDED 31 AUGUST 202S Tangible fixed assets equipment Cost At l November 2024 4,839 Addition5 5,559 At 31 A￿uSt 2025 10,398 Depreciation and impairments At l November 2024 3,228 Depreciation charged in the year At 31 August 2025 5,828 Net Ix>ok value At 31 August 2025 4,570 At 31 October 2024 1,611 Debtor5 2025 2024 Donations pending transfer to UK Prepayments Other debtor 6,918 225 13,604 833 6.642 13.785 14,437 Creditors: amounts flling due wlthin one year 2025 2024 Accruals Other creditors 1.556 1.640 464 1,556 2,104 io B-LESS NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE PERIOD ENDED 31 AUGUS[ 2025 10 Analysis of tharitable funds Unrestrlcted fvnds Brought At 31 Augusi ZOZ5 Income Expenditure General funds 27.425 102537 {77.1091 S2￿53 li