RECISTERED COMPANY LYUMBER: 00136726 (England and WAl¢s) REGISTERED CHARITY F4UMBER: 216647 OSCR NUMBER: SCIH6866 R¢pDrt of the Trustees and Flnanclal Statcment5 for tbe Year Ended 31st August 2024 for International BSble Stlldents AssthdgtiOD International Bible Students A5sociailon Conttnts ofthe Annual Report ftyr Ihe Yt#r Endtd 31st August 2024 Page Repoyt of the'frustees Reptyrt of the Indtpendent Audltors I I to 14 Stattment ol Flnaucial Artlvltle5 BaiaDce Sheef 16 Cw$h Flow Statèm¢JLt Noles ID the Flnftncl*l Sl#tements 18 Its 27 International Bible Students Asso¢iation Report of the Trustees for th¢ Y¢*r Ekndtd 31st August 211Z4 The irust¢¢s WILO are also dircciors ofihe ¢hgriiy for the purpoKs of the Ci)mpanLes Aci 2006. prsent Iheir rtport wilh the fIn￿Cial 51al¢rn¢niS of the chariry for Ihc yearended 31st August2024, whi¢h h¥ve been prepared in a¢¢ordance with Iht charity govcming docurn¢nt as referenced on pag¢ 6. The trumees hav¢ #dopied the provisions of Accounting and R¢pvMiug by Charities.. Siai¢ment of R&'ommend¢d Pratti¢e applicable to ¢harities preparsng their ar￿￿￿tS in aecordanc¢ with the Financial R¢purting Standard applirxble in the UK ond R¢public of Jrelattd IFRS 1021 leffetiive I J#rtU8ry 20191. Thi5 T¢FX)rt includes the Directors RtPDTI a$ required by compally 18W. OWF.CI'IVES AND ACTIVITIF.S Objectives and 2lm¥ Tjie object of ikne A55ucio1ion 1> In pribrnnle the Chrisliall religion as praciiced by1he body uf Chtistiam wsons kJ)own a¥ Jehovah's WitD¢$$es. This has becn achiev¢d by.. . Pnividirbg s¢r¥i¢ed facilitics to support religious activity. 2. Arranging for v¢llu¢s to hcisi conveniions for Bible ed￿allOn. 3. Financially a55lSting Icgal cniities with 8imilaT aims and objcctiv¢& both foreign and domestic, 4. Paying cxpeDs¢s for SLr¥l tsktn8 care of living aTw¥emenis for ni¢mbeT¥ of the WoTldwi(Je Order of Special Full-Time Sejvants of Jehovah's Witnesses (the Order). On$oiti8 SUPPOrt of th¢ activity of Jehovah's Witn¢¥s¢s withoul iniemipiion. 15 0 more sixnilieant crit¢rion for the A55ucia1io￿ ih2t) a slaii£tical ass¢s5tncEII ofperfornunce. lrt the are4 of conventlQD& howevu, attet)danc¢ rjgu￿% be ¢ottsidered lo as8¢SS th¢ impact of the Association's a¢tiVilies. SigTrific4nt xrtlvltles Th¢ A550ciaiiort's aim. lo f¥Lilila* the tsn8*ing aeiiviiies of Jehuvah's witn￿se￿. rcmain5 t￿ each year. Therefore, the shorf- and lang-lerni obJcctlVCs synonymous with ea¢h ether. Specific curr¢nl a¢iiviiies are described in Iht lollowing paragraph5. Th¢ A￿cIation contittued io provid¢ faciliti¢¥ ¢n8blitibi religious service and th¢ pr¢par4tion ofBible-based inforniation in variou5 tsngua8es. The AssLY5ation ¢olllinu¢d to provide bUPPOrt for memberg ef the Order in VaTiOUS foms. such as fo(KJ, a¢¢omtnodation, and modesi all()wances. This support allowcd Ih6TTi to ¢ontittut in th¢ir full-tiTn¢ religious service. F#¢ililies W¢￿ a￿anged and hir¢d 10 ¢nabl¢ laT¥e convention5 10 bc tleld a¢ro%% the £ountry. spvcial week of tours W115 hvld in recogTrniiioii of the Association's new facilities at l Kingdom WHY* Chelm$ford. Alihough ¢onslrndion wa5 completed in 2020. this ¢v¢nt delayed duc to th¢ Pdndemic. Over 3,LNIO vi51tor& were able lo attend this special wt¢k. Additionally. ther¢ wer¢ open days atlended by local councilloTS and r¢sid¢nts vtho enjoyed a Jn¢al and * lourof the f3ciltlie5. Donatiotts were made to as¥iSt Lhaislies with simi18T aims wh¢tethtr¢ wos a greaterneed. International Blble Students Association Report of the Trnstees for the Year Ended 31st Allgusi 2024 OBJECTIVES A]¥D ACTIVITIES Pub15¢ bethefit In addition lo being a legal enlily, the Irllsiees confJTm thai rhey hav¢ takcn into considcration Chariry Commission guid&n¢¢ onpublic b¢nefJt in exerci8ingthcirpowersaDdduli¢s. Thi5 isamplydemon¥tra*d in rhisreportand 1npatti￿lar the following.. I. The tran518ied Bibl¢-based materi41 and videos arc made availabl¢ lo tht public free of ¢harg¢. Although the A$sDctatioTh doe5 nol produce or di%tribuie this niaierial. li faLilital¢s lis produclion. It is also noieworlhy Ihal the lii¢tature is pro￿ld￿ in rhe moth¢T tonoue of individuals. cven if their lan¥ua¥¢ TS nor widely used. These languagcs in¢lud¢ Brilish Sign LaDgud8t. Welsh and S¢ultish Gaelic. 2. Conveniions for Bibl¢ educaiion, Jre open 10 the public. Admi.k%inn is (￿e. 3. Throu8h facililaling the activity ofJchovah's Witnesses In general. through pwperty purthdS¢ and ownership 45 well &$ lakin¥ ¢ar¢ of members ofih¢ Order. This allows for charitablc. r¢li￿O￿$ aetivity to ¢ontinu¢. bTit)¥inE b¢ncftts to those who Rr¢ involved. 4. Tours of its facililiets whirn are availthble to the public. fre¢ of charge. By ensuring that thest aclivilies continued io b¢ supported. m8ny coniimie to re¢tYve vital comfort and a55lStancc. Social Ini'estment5 The Asw¢i8tion classifit$ it5 social investments as pro8ramm¢ relate& Th¢ invesmiwjt is to furthertharilgble aims. and ny fjnancial r¢turn is incidental. The inve%im¢nt is held ￿ cosi Ics8 impairm¢nl as fair value cannot be meAsur¢dTeliably. DonAtlon$ #nd ald These dongt20ns are noi s¢nl forspecifit projects. llor do they have thi¢t Conditions aitarhcd rcgarding how or when they shuLild b¢ Spent. Thc donation5 tan b¢ uscd 10 support th¢ ¥¢nual activiiies and OP¢Taling expenses of othcr legal enlilics which sliar¢ similar aims and obJe¢iiv¢s to the Association. The Association al lim¢s sends fund5 to Watch Tower Biblc and Tracl Society of BritsiTh (WTBTSBI. a charity With similllr 4ims and cxperienc¢ tn dislribuliThg funds around ihe world iv wherc needs exi51. Th¢ Associaiion first ascertains Wh¢th￿ ¢￿￿ent funds hcld are sufficient for the upcoining rtEcds of the AssociatlQlk'5 ordinary a¢tLvitics. Irthese Trccds tan k m¢1. Ihc Associa¢ion wuuld pr¢fer to settd the funds on kn whcrc Ihey can b¢ used iThmediately. This PT(K¢SS is C#Tti¢d out iD line Ihc A&YKiation's reserve5 policy. All dorvdlions made advancc the aclivityof Jehovah's Witnesses ill m#nycountries. aksislingwith lit¢rBtur¢ needs, disast¢r reli¢f. the building lif placcs of worship and other rewirtmcnts of cooperalinx le¥al ¢niities whilh support the Rtlivity of J¢hoYah's Witnesses. Donor$ are ]nadc aware of thc worldwide thaturc of ihe a¢tiviti¢s of Jthovah's Witnesses. JEmbeTS of the Order The Association is often as515ted by religious ministers who ar¢ members of the Order. These indiwdua15 aTe noi Lumpensated r]nanci¥lly or in-kind for their eftorts and OTe not employed. Eacll member is PTovided with md¢bt yet appropriaie support, such as food, sh¢li¢r. and other basic necessiiies so rhat they are able to ca￿Y out any lJ5k which they are assi8ned by Ihe Order of Ih¢ir sacred service. Although sueh uncs do ai liines help the AssociAtion. fi)r i115tance. by assisting with facilily maintenance. their service involv¢s many oth¢T assignment5 a5 well, not conn¢¢l¢d to the Associaiiot). Members p¢rfonn whaiBveT the Order >s5l8Ths them To th in support wsit the facil>lies at l Kingdom Way, Chelmsford. with nurn¢rw5 lours ondu¢t¢d throughout rhe year. along wilh the sp¢¢ial w¢ek mentioned in ihe 'signific3nl aclivilies, seciion. During the year ihe As5Licialion welcomed Jnor¢ than 28.000 ￿si10T5 frorn mLire than IQD diffeTent tounirie8. a significant inGreas¢ froTll the PTei'iOUS Ye￿ when tours rc8umed following th¢ pondemic (for rhe period b¢twe¢n June and Au8USt 2023, Ihc As¥o¥ialion weltorned thver 8.000 visitors from 70 diiTerent cthurtlriesl. Following the ¢otnpleliort of the Bible exhibit which ¢xplvres Ihe history of Bible Iranslalion in sorne of Britain and Ircl?nd's indigenous languages. work is now undcrwayto add a $econdaryexhibit called"The H￿lIage.. This new exhibii will focus on the history of lh¢ wotk ￿ promoie Ihe Chrislian religion as practiced by Jehuvah % Wiln£sse5 in Briiatts and Ireland. Th¢ Associaiion owns and maintains five Assembly Halls us¢d by Jehovah's Wiinesscs faciliraiing larg¢ gath¢TiThgs throu8hfrui Ihc year. In addition, Ih¢ facility in Swrey allow5 for Bible educaiiortal classes io b¢ held by J¢lwY8h's Wilttesses. with on averag¢ 5 cts5S¢5 hosted ¢&¢h year. Provtsiort of faciliries to su rtthc uction of Bible-ba8ed literature The knsociation continued Icp SUPPOrt th¢ facility its Burton-on-TrentforBritish Sign Language rranslation andr¢5id¢n¢¢5 for meTnb¢rs of the Otder serving ihere. In oih¢r localions, m&terial was iranslatcd into n)or¢ languages. including Welsh ar￿ S¢utlish Gaelic. Bible-bas¢d audio and video PTograms were also carrjed out throughout the yea[ in the Association'% properties. During The year work commer)ced (>n tlit rctjovaiion ora tran51aiion off)ce in Wales which offers improv¢d fa¢ilÈties (ijr the volunteers WOTking on ihc translation Df Bible liierdwre and media into th¢ W¢￿kn lanEuage. Construction work was¢ompleted during th¢yearonth¢ Studio buildillgar l Kingdom Wayy CIL¢ttn¥ford. whilh f*cilitat¢s Ihe produclion of Bible-ba$Ed malerial. The %iudiD capacity wa5 doiibltd in si7.e, pmvidin¥T arnple spaee. Thcre werc also subsiantial iinprovements made to the sound attenuatioTL ensuring a 8uperior acousti¥ ¢nviT(InsNent ihat w￿] support inercased usag¢ and v¢rbBtilily. In addition. Ihe A￿ciall0n w#5 plea5d tv make new sound recording availablc. Conv¢niioD5 for Bibl¢ ¢ductttio P¢ak Ittenda￿e$ of upproximaiely 133.00012023.. 130.0(Xll acro￿ 36 12023.. 23) separate event5 ww¢ a v¢ry pleasin8 Fit)at]ciall j￿in l eThtilies of J¢hovah's Witnesses Financial assisi&nce 10 legal entlties with similar aiJn8 and i)bje¢tiv¢s incToased in comparison wilh Ihe p￿vIOuS year. This was possible due to the sal¢ of one of the properties fonnerly owned by the A$so¢iaiion in London. The Iru¥iees £arefully eonsidcied how to use Ihese funds in furtheTsnce of the Associ81ion's chaTslable aims. WTBTSB W85 ¢hosety as the main re¢ipi¢ni be¢auk of its experience in distributin¥ fi]nds around the World where there is ¥ need. Ii also has similar chariiable obj¢cliv¢s lo th¢ A550¢iation. Assistance has alsi) been provided by Hllowing some of these legal ¢nliti¢s wiih sirnilai aims and Dbje¢iives io oc¢upy and op¢raie free of charge in propcrti¢sowi¢d by IBSA overseas. Th¢ Association Gontinues 10 hold a programrne Telated social inv¢slnienl as shown in noi¢ l O to the fthaneial siaiemcnis. The inv¢slrneni furtlier% Ihe chariiablc aims of Ihe Association, by assi#inB Jchovah's Withc5S¢S around the world in fmding plac¢5 to rncci artd eany out their WOTship. There ar¢ no Lthcerns Tegarding ih¢ social, ¢nviwnm¢ni*l thr eihieal natur¢ of the investment, as ii direLily assiblb with haritable adiviiy. Tht Irustee5 are pl¢as¢d with the Tesults aehLCVCd. International Bible Studellts Assoclatlon Report of the Trustees ror tlbe Ytar Ended 31st August 2024 Carin for M¢mbers of thr Order DurinE th¢ vcar, modest ycl appropiiar¢ support was provided io over l.OOD memb¢r812023.' ovcr 1,000 rnemb¢rs} of the Order, in harmony with the aims dnd objectives ol-the Association, ihroughout tb¢ United Kingdom. This cnabled them to devoic Ih¢mselves fvlly lo Iheir satT¢d seThice. and carry out Their a8sigtbmen15 from the Ord¢r during the y&8r. Thes¢ one& dr¢ not eJnploy¢d by the As50ciaiion. Thty do, however, di limes abSi¥t with rhe As¥ociation's a¢tivili¢s. and any other servic¢ they Carry oui is in lin¢ with the Asso¢iatLOn'S aim$ and obje¢iive$. Fundrxl$ing #etivitie5 We do not engage in fundraising aetivilies. Invtstmenl performance Thc trustees are sptisfjed with th¢ results for th¢ year, laking into account intcrest rate% gcncrally. Monty is h¢ld in firsi class banks. ]￿ternal toMtrol$ These f ontrols eth$ure thai th¢ monthly fmancial reporL* awurately represent all trartsaciiotls, piovide rea80tt2bl¢ aS5urance thai finances are bein8 wsed foi their inlended pu]pose and verify ibal prop¢T conirols and proctduies xte in place and #dhe￿d to. ￿ Ihat the figures we T￿ord¢d accurately and 8e¢OUnts are in balance. Se¢tioD 17211) 5¢ateJnent Th¢ bvard of tnjsleeb 18ke itlro account the likely consequcnees Df loThg-l¢rm decisions,. build relaiionships with stskeholdets.. undcrstand the importance of en8aging with ourvolunieers: understand Ihe Lmpatt of our operations on the communiiies within which ￿.¢ opcrate; tsnd allribulc importanct lo bEhaving as J respunsible or¥anisation. The bo&td of trustccs con%id¢r, boih individu8lly and logeth¢r. Ihai Ihrough their Str&l¢gic planning and decision mllkin¥, thai Ihey hav¢ acied in the way iliey tQnbrdcr. in good faith. would be mosi likely to promote lh¢ success ef th¢ charity for the bentfii of Lls Stakehold¢TS U5 3 whole (havin¥ r¢gaJd to the stsk¢holders mallers set oul in $17211 Ka-n ofihe Acil in the d¢cisions tsken during rhe year ¢ndcd 31 Abgus12024. Throughwi thc trusree'$ T¢POrt exampl¢4 are given wh¢re the Iru$t¢¢S Coiltinue t¢ ¢xcrcise th¢ir duties with r¢g3Td lo niaiicrs telaied lo Secii(>n 172. For inslanre. in the public bcntfji sertion. Iht ITU51ees confirm that ihey have Isk¢n inio regard th¢ impaci of ¢haTlry'S operations on the ¢ott)munity. As the board ol. Iru5tees. our inreJJiion is to behave r¢spoJ]sibly and cnsurc ih&t managanent operate Ihe rharity in responsibl¢ manncr. operniing wiihjn high Standards Dfbusine&¥ ¢onduct and ¥uod governance expecicd fthr a ¢hanty s￿h as ours. and in thiing 50. will coiitribute to the delivery of our obj¢cliv¢s and aims Flnlkntlal review FinAntlAI positloD Tlie As¥otyiation showed x dcficit of approximately £7.8 millivn on the Siatemenl of Finanei81 Activirics ISOFAI ai 31 Augllst 2024. Nei Ass¢ls at the ertd of th¢ year stood at approximately £161 znillion. The vast rnajoriry of thi5 15 made up of rangiblc fixed assets ￿th a net book value ofn¢arly £159 million Iwedo not b¢lievc ihi% wnuld be signifiGqnily dilT¢renl from nei realisable value). This d¢mon8trnlcs that the A$50ciatioii js con1inu￿¥ to uiilise 11$ r¢50ur¢es eff¢ctiYely. Prlntlp*l funding sollr¢t5 The A&wciation is funda by voluntary donaiions llnd legaei¢s. This income 5upponed the Associaiiott in achieving its kry obJ¢cliv¢s duying the year. This included supporting memb¢T5 of the Order and caring for facilities as d¢SCTibed in this rq)on. Internatlonal Bible Students Association Report of the Truste¢5 for the Ye*r Endtd 31st August 2024 STRATEC.IC REPORT FinA*¢ial revlew Reseri'ti poII¢v Thc A550CLation's policy LS to hold approximately two months ot operational rescrv¢s as free re8crvcs, cov¢ring all activities except donations and aid. This amounts to a range of £3.£4 million. CurT¢ntly the eharity has a net a55et position of £160.8 million which Incl￿eS a combin¢d figure for fsxed ass&s and social inv&stn)ents of £159.5 million leaving free res¢ry¢s 91 £1.3 million. The nel asset figuie is 51aled after Jeduttlllg £2.9 million r¢13ting w a ￿nceSS1O￿ry loan from a chatity in AusirAlia. Th¢Trnstecs arc confident ihat this loan will noi be called immedi31cly and. Ili¢relor¢. have includcd this as a ltsn8 ierni loan which meansihe charily hasneicurrenl assct5 sufficicnl to cov¢r ils short lenn needs. As the charity would receive notice to pay. it would hav¢ tirne to adjust its cash flow 10 mainl#in Iwo iniinihs expenditure in reserves. All funds are unr&4triGltd. Golng contern The trustees r¢8ularly monitor rhe financial position of the charity and ai this titn¢ have no significant Goneerns regarding ilie going eonccrn 51aLUS of the A8socialiun. PripripAI rl$kJ and umtèrtglntlej Th¢ major risks io which Ihe Association 15 ¢xposed have been forrnally reviewe reduee, as far 05 P05hible. the impatt of thosc risks. The ti&k register wa5 updaied most rec¢ntly in Augu812023. The As50rialion has limited exptrsurc 10 pric¢ risk. credit ri8k, liquidity risk and cash flow risk. due to the narur¢ of lis charithble aciivities. Whil¢ Ihe charity is reliant on dunaiion$, thcrc is no CUTrelli reasan to ste thal Ihese would curtail io tht ¢xt¢nt that this would chaThg¢ tht viability of ihe charity. Thc chaTity hold% reserveg in actordance with its r¢serves policy aJ)d %hould this chang¢, Ihe charity is in such a position that this would initially b¢ Jddressed by not making doDalion¥ lo other charitLCS Wjth Similar aims or by cutting back on activstie$. The principal risks and unc¢rtairkli2s are in the following areas.. Health and 5af¢ty. IT disast¢rre¢oyery a]Ml plgnDing, lack of building fabric mainiethanc¢. Health *nd Safdy CaTiJ]Kfw sizeable f2tilitiesand a larg¢ group of individualsbTings wilh itthc risk5 of aeciden15either ill 5¢rniced faciliii¢g or act0mnx￿otl0tl. TILIS risk is mitigated by a rigorous hcalth and safety routin¢. Experts in Ihis area giv¢ advice and diTettiL)n as lu help lo chitve safer praclic¢5. Individuals are ¢rain¢d in the procedwes they should undertake, and how thcy should cany out th¢ir tasks in the saf¢sl tnannei. Doeun?¢nlation Is provided a5 part of their training. IT disasier recovery and pl8JJniJJg Thc sy*tems used to 4chi¢ve the aims of the A5'Srtiaiion are cornplelely r¢li&nt on IT %ervtces. The pot¢ntitil for such servic¢siO be damaged or impedcd in sonie way is a serious nsk to the operdi10￿ of theAs$ociaiion. This risk is miiigaied by txlT¢niely dcia11ed IT backup pro¢edur¢s. Offsil¢ batkups are cayTied oul regularly, with Sensitive dala being backed up more frequently. Shi)uld a physical seTh'er be lost, rcmole s¢rvers kept off-silc can tske over and cn5ur¢ the toniinued running of opcraiions. In the unlikely ev¢nt that the neiwork go¢¥ duwm. d sirong. robubl infrasiru¢iure allows fur opcratitsns to tonrinue uTrinl¢rrupied. L8¢k of building fabrie mainlrnan¢e Regular r¢paiT and m&intenarh¢e programmcs are Gatried out to a high st￿da￿d. Experts in T¢levanl areas 8iY¢ tr4iDJllg and monilDT Ihese areas LgT¢fully. Ongoing trainiDg and dveumentstion ar¢ provided b￿d appropriate standards and followed by those who hAV¢ Ihc t¢$ponsibilily for caritt8 forthc building5. International Bible Students AssoelatloD Report of the Tr￿Stee$ ror tht Year Endtd 315t Augllsi 2024 STRATEGIC REPORT Futknre plans Continuing to Support individuals as tn¢mbcrs of the Ordcr, helps theTll ¢0 conrinue their sacred r¢ligious seryice, whilst they ass2s10TheT J¢hovah'$ Wiinessts and con8Fegat20ns. They will a]so hav¢2 benefi¢ial impad in rhe widercon]niuttiti¢s whtrc they W￿ship and conducl theirpublic ministy. The Association remaiJJs commiir¢d to fgciliiaiing the tratt$lation and audiWvideo pr(Kluction of Bible-b¥scd moterial. Consiruciivn work ha5 begun on resid¢nLes for mernbers of the Order asSiStits8 ai the Iranslaiion faLiliiies in Wales. with an anticipated complelion date in 2026. In addilion to rhe regular conv¢ntion venues aTranged for 2025, the Ass￿l*ll￿n is ex¢ii¢d to a￿ange th¢ venue for a special convention in Gla$gow. which will likely have illendees frorTr around the world. Duritt8 2024, Ihe As50ciaiiot) successfully irialled Givesliir, a mobile poinl of Sale platform which supports online and mobile donaiions. Following the positive f¢¢dback, this will be mad¢ available ai futu￿ eonvenlions. An Jncreosed numbeT of visitors toured the fa¢ilities ai l Kingdom Way. Chtlmsford. during 2024. and w¢ antiCiPal¢ Ihar approxiJD8rcly 6U,IlnO will visit durin¥ 2025. The exwand¢d hisiuTif ¢xhibii secli4m of the taUT and additional exhibitio highlighiillgihehi¥toryofJehovah's Witnesses in Britsin and Jrclandwereeompleted and￿￿E£d ro visili>rs in the 4umm of 2U24. srRUCTURE, GOVERNANCE AND MANAGEMENT Governing dotumtnt Thc chariiy was ineorwraied vn 30th June 1914 attd is govcrncd by the Metnvrandum und Articles ofAgsociation ofihal date as amthded by sp¢cial resoluliow on 20th April 1951. 10th January 1958. 281h November 2005. 4ih January 2006. 20ih F¢bruary 2t114. and 13th Apnl 2016. Or2wnisatloD#l strutttjre The charity is constilutel as a company limilcd by guarantee. PDli¢y decisionts are made by thc Ttitstees. l¥ltmbers tJabllity E&ch member (if Iht charilabl¢ company undertake5 to contribu1¢ to Ihe a55eis of lh¢ charitable wmpatty in the event of it b¢ing wound up whil¢ thcy are a tnember. or within one year aftcrthey tease 10 b¢ a member, such amounts as Jnay be requira, tsoi ex¢eedtng £10, for the debts and liabilitics cunlracted befor¢ ih¢y ceased 10 bc a ni¢nTber. R¢crnitmént, ¥ppol•tthe￿L iDdu¢tion hnd Iraining of ntw trustees TtLC tiwsiee5 of rhe A$socidliots who h¢ld office during th¢ year, and al the date of Ihis report. are sei out below. Th¢5e ttU51e¢s hav¢ key roles Al ihc ¢harity'$ headquart¢r¥. They meet logetb¢r each month and ale in r¢gulai contact from dHy lo day. The trustees have the wwer to appoint OT remove twstees by a simple majority vo*. The re£ruithJeni 01￿ inducti(>n of n¢w INstees is arraTh8ed Js follows. When n¢¢e&q&ry. thc t￿Stee3 review POlenlt81 candidtres, on ihe basi5 $¢1 oui ith the Artic1¢5 of As8ociation. Their 4biliries and qualificaiioni are ¢v31ualed by thc tTU5lee￿. NaYtru8lees aT¢ given Irdining in both operaiional and financial mailer5 Wlth the aid of the existing lrnsiees and Tcl¢vanl doC￿nen1al1on atyt guidan¢¢ provided by the Charity Comniission. Wld¥r Nètliork Legal eniilics with SiTnilar aims and obje¢iiv¢s exist in Thany COUniri¢s around the world. cl￿perall￿n with rhese l¢gal enijiies fa¢ilil&res ¢ffJcieni thnd cconomit use of resources. Thi5 helps IhE A550ciaiion lo rncet it% stslcd aiJ]is and objeciivts. The Assucialion a]￿j ¢ooperaies with such legBI cn111ies in th¢ United Kingdom. This cooperHtion Could be in ihe form of shared facilitie& ordonalions dcpending th¢ circumsianc¢s. Thc Asso¢iation rcviews poli¢ie5, procedut¢s and guidelincs uscd by kgal eDtities of Jehovah's Witn￿5¢5 globally with similar airn5 and objectivcs and, where Jpplicabl¢, $¢eks to implernenl them. Internatlonal Bible Students A550ciatio Report of the Trustees ror the Year Endtd 31sl Augu#t 21124 STRUCTURE. GOVERNANCE AFID hlANACEMENT Buslness relatiODsbips The board of trustees rccognise the importance ofiis stakeholder relationships and Ib¢ role that suppliers play in enablirtg (he Lhanly 10 deliver its obje¢liv¢$ foT the widei publiL and community bcnefit. We ettgaEC re8ularly wilh OUT suppliers to review perforniancc. plan dci'elopm¢nlS k¢ep up io date PTogr¢55 and innovation in their areas of exp¢rtis¢ REFERENCE AND ADMINISTRATIVE DETAIiS R¥gistertd co￿pan). number (XTr136726 IEng]and and Wales) Registered Ch•Tlty 216647 SC046866 (OSCR nujnberl Reglstered l Kingdom Way Wesl Hartningfield Chelrnsford CM2 8FW Trustees J Mgnl¢y K Snaith S C H Symond$ M Siinp50ll A Sutton Auditors Ri¢kard Luckin LiTDit¢d Isi Floor. C'ounty House IOON¢w Lon(kn Essex CM2 ORG Bankers Barclays Charities Team. LeY¢l 12 I chU￿h11] Place Lottdon E145HP EVENTS SJNCE THE END OF THE YEAR InforrnatioD reloting ts) evenis since the end of th¢ yut 1$ given in the notes io ihe fiThgTrcial st3temenls. International Bible Students Association Report of ihe Trustees for the Year Ended 3151 August 2024 STREAMLINED LIYERGY AND CARBON REPORTIT4G Curreknt rtportlng yt#r Current i¢porting year 202>2024 tC02e 2022-2023 kWH 9,906.9J8 o:. kWH 11.926,565 Quantity of e￿T¥Y ¢oDsumed resulting from attivities for whicli tlie AssoLialii>n 15 r¢s onsible Emi%sivns from combu51ion or tt5 {Sco Ernission¥ from Comb￿st10n of fuel for transport ses Isco I I lsldndard djesell Emissions trom urch3scd eledrici Tolal oss tCO2C based OJJ thlK>ve 1,083 77 1,440 Isco 756 1,916 777 2.283 Iniensltv t*t•): Th¢ rniensity me#%ur¢ment of tCOOrn has bccn 5clcct¢d as the va$1 majoriry of Ibi5 Clmisumption wa5 from a¢iivity onne¢led with its registered oifiG¢ and neighbouring propertics itt Chelmsford. 2024 0.0221 2023 Q.0264 0261m' Methodology.. Thi$ report hos been PT¢pared in line with the Deparnnenl for Busmess. Ettergy & Industrial Strdiegy IBEISI March 2019 'Environmenl#l Re￿rtIng Guidelin¢8.. In¢luding sIreoTnlin￿ cner¥y and cgrknn reportin8 guidance.. The c8rb(kn figuJt$ have be¢n calculatcd using the BCTS 2024 and 2023 carbon convetsion f8c¢ors for all fvels, other rhaTJ Ihe niaTket-based eleclri¢ily whiLh has been l¥ken froni utility bills. Ernissions are r¢portcd a8 metric ionn¢5 of carbon dioxide equivalent. Wc have iaken an opcralional tonlrol approac]L meaning that IOIWO of emi8SIOn5 from 0￿ratIonS over which rhe As*ociaiion has up¢rational control hav¢ been re￿rted. Energi. Effitltnmpanies. Trurther to Ihal a waste ￿reaM for recycling bubble wrap and polys¢yrenc was 5ttup to allow these to bc rcuscd wthin the facility wh¢D need Commungl DriNks Machines.. Paper cups, Taih¢r ihan plastic, are available at v¢nding machine5. Uscr8 are ¢ncoura8d to U8e th¢ir own cup al th¢ tt13chincs Iv further r¢du¢e the need to use single-usc pap¢T GUPS. The ITusiee¥ #re pleased witii these exarnplcs vf txlr¢mely tMkSitiYe envimjjmtntal pcrfomianG¢. STATEMENT OF TRUSTEES, RESPONSIBII.ITILS lkne tTUStees (who aic also the dir¢ctors of Intemotional Biblc Stud¢nt$ Association for th£ purposes of Gompany lawl are r¢spon%ible for preparing (he Report of Ihe Trusiees and ihe flnancial slHlemenlS in ￿¢1)rdance with applic3blc law and Unit¢d Kingdom Arcotsntlng Standards Iuniled Kmgdom Generally Atceptrd Accoutsting PractLc¢I intllldirtg Fmancial Reporting Standard 102 "Thc Financial R¢poning Standard applicable in lh¢ UK attd Republtc of I￿land.. Company law ￿quir¢S Ihc trustees io pr¢pare financial stsicmcn15 for ¢a¢h year which give a tru¢ and fair view of th¢ stst¢ of affaits of the ch&riiabl¢ company and of tlie incoming Tesouf¢¢s gnij applicaiion ot'resources. inrluding the incom¢ and expendilure, of the cliariiabl¢ c(irnpBny foT thai prriod. In preparing tliose financial srai¢m¢r)Is, the trusiees arerequired to seleci suiiablc accounting ]y)licies and then apply them ¢onsistently', obs¢rv¢ the m¢ihods and principles in Ihe Charily SORP; makc judgem¢Thts and esiimaies that arc reasonabl¢ and prudeni.. siaie wheih¢T applicabl¢ acrounling standards h&v¢ beert followed. subjeLt lo any tnalerial departutts disclosed and expl*ined in th¢ financial statements., prepare thc financial ststcrnenis on the ¥oing eonc¢m basis uttless it js inappropriate to presume Ihat the charitsble CL)mpany will contlDU¢ th business. The trusrees are responsible for ke¢piu8 proper ¥¢counling records which disclose with reasonable attuttty at any time the firtancial po%iiion i)f ihe charitable eompany and to cnabl¢ them te ensure thai ihc financial sla*meniS comply with the C.otnpanies Aci 2006. They are y150 ￿￿￿onsIble for safeguardin8 the dss¢ts' of the charitable cotnpany aE]d htn¢¢ IOT tskinK reasonable Meps for the prevention and detection of fraud and other ittegularitL¢$. In so far as the inJsree8 are aware.. Iher¢ 1.% no relevant audit infomiation of which the charirable companys oudilors are unaware: and Ihe Itusl¥es huve luken all %lep% thal they iiuBhl Iv have tsken tn make ihemsclves awar¢ of r¢levat)t audit infornithtiok aiid to establish that th¢ auditors are awarc of thai inforn]alion. International Bible Sthdents Assoclatlon Report of ¢he Trnstees for the Year Ellded 3151 Augn$t 2024 Repon ofthc tru51ee5. intorpDtaiinga straie%ic TVPOrt, approved by ordcr of the board of tru￿ee5, as Ih¢Lompany dir¢¢iors. on,.. . ..4f).%?. and signcd on th¢ ￿Trard's behalf by.. J M8nley- TNsi¢¢ Report of the Independent Auditors tfj the Members of In¢enbat5oD81 Blble Students Assocfiation We have Audiied Ihe financial staiements. of Inl¢malithnal Bible S￿denIs Assttcialian (Ihe'ch4ritable eompany) ffiT the year ¢nded 31s1 Augusl 2024 whi¢h comprise the Ststcm¢ni of Financial Activiti¢s. the Balance Sheet. the Cash Flow Sigt¢m¢nl and noles io ihe fjnancial slalemenis. includinB a summary ol. significant a¢counlin¥ poliLi¢s. The financial Teporting fr4mework Ihar has been applied in their prepardtion is applicablc law &Dd Uniled Kingdom Accounling SiandaTds- (United Kin8dom GcneTally Aecepied Accouniing PrdLiiLel. includin8 Financial Reportin¥ Siandard 102 The Financial Reportir)g Standard appli¢abl¢ in the UK 9md Republic of Ireland,. In our opinion th¢ financial SLqtrrn¢nts= give a Irue ond fair view ofihe slate ufihe chaTiiable Company's affaiTS as at 3151 Augui 2024 and of its ineomin8 resouTC¢5 and appliciiion of resourcc5, in¢luding it8 incom¢ and expendI￿re. foT the year then ended.. have beenpTop¢rly PT¢PdTeil in #ccordance with Uniled Kingd(Jtn Generally AcceptLxI Acc(Trunlin8 Praciicc, iDcludiTJ FinanLial Reporting lQ2 'The Financi81 RcpoTling Standard applicable itt the UK and R¢pubJi£ of treland.: Jnd have been Preparcd in a¢cordane¢ with lh¢ r¢quiiemenis of the Companieb Act 21H)6, the Charitie5 and TnL%lee tllv¢stJnenilScotlandl Att 2005 and regulalioTh 8 of the Chari¢ies AccouDt5 IS¢otland) Rcgulations 2006 las amend¢dl. B*gls for oplnion We conducted trui audil in accoTdartc¢ with InicrnalTonttl Standards on Audilittg {IIKI (ISAS IUKII appli¢abl¢ law_ OUT re%ponsibiliries undcr those slandards are furthtr de$cribed in the Auditors. rtsponsibililies tor the audit of th¢ finaTL¢ial slal¢menis seLtioJJ of OUT repom. W¢ are independent of Ihc charitabl¢ cornparty in accordance with Ihe eihical r¢quireJnents that arc rclevanl to our thudit of the fill￿¢1￿1 siatemeDts in the UK. iurluding the FKC'S Ethieal Standard, and we havc fulfilled oureihical Te5ponsibililies in accordance with the5trtquir?ments. We bclievc Ihal th¢audil eviikn¢¢ w¢ hAve Oblo￿ed is sutlici¢nl and appropriat¢ lo provid¢ a basis for our opinion. Conclu510Th$ rtlxtlng to golng ¢ott¢Èrll In audiling the financial siaicmcnts, we have concludcd that Ib¢ trusiees, use of th¢ goin¥ concern basi$ of accounting in the preparalion ofth¢ firtat)cial statem¢nls is appropriate. Bascd on Ihc work we have perfornjcl w¢ have ttoi identtfied any malerial uncertainties relatinB to events t>r £onditioJJs IhaL individually QT colleelively. mav cast SlEtsifLcunl doybi on the tliaritsblc company'% ability to coniinue ss A going ¢oncern for a Peri￿ of at least twclvc months from when tIL¢ r)naJ)cial slat￿nentS art authori$ed for issue. Our responsibilities and the ftbponsibililies of the ffijstecs with r¢spttl to 80ing concern yre described in th¢ r¢l¢vanl sections olthis report. Other lJTformatio The trustees are respon¥ible for the oiher infoTtnalion. The thher itLfonJ]alion wmprises th¢ inf*m)aiion includd in the Annual Report, oiheT thatl the financial slat¢m¢nt% and our Report of the Itkdependcnt Aud¥tOTS Ihereon. The trust¢¢s #re resp()llsible forthe oih¢r infomi81ion. Our upinitsn r*f Ih¢ finantial %iaiemet)Is d(Ls nottover Ihe 01her infomiaiion and, exceptto ih¢ exieni otherwise explicitly stated in OUT report. w¢ do noi express any forni of 35suranee ¢oncluEion thereon. Jn connettion with our audit ot-the financial 5tat¢rn¢n¢& our responsibility 15 to read the oih¢r inforniation and. in doing so, ¢()nsider whetlier th¢ oth¢1 infoTmaiion 1$ mateiially incunsislenl witli the financial stai¢M￿L4 OT our knowl¢dg¢ obtained in the audit or otheT%wse appears to bc materially misstatcd. If w¢ idettrify 8ueh ma¢¢rial itteonsi&tenci¢s or appareni material mi58t8l¢m¢nW we are required w deiemiit)e whether this 8IVCS Tise lo a mgt¢rial n)isstaiemcnl in Ihe rinanri)1 slaiements themselves. Jf. bastd on the work we havc performed we conclude that there is a material mi8￿aleMent of this other infarrnalion. wc are reqwir¢(I to repofl thai fact. W¢ hov¢ nvihing io r¢w)rt in this Tcgard. Opinion5 011 other matttrs presorlbed by the Companles Act 201J6 In our thpinion, based on th¢ WQTk undertaken in tht course of the audit.. th¢ infurn￿li￿n given in the ItU51ecs' repi)rt, which in¢ludts the diT¢CtOT%' Teport and the slral¢wc r¢port prepared for th¢ pu￿oseS of eompany law. forthe financial ytarfoT which the fLtLancial ¥lai¢mettls are pr￿ared is Co￿%1$tent with th¢ finBneial Sla￿lenIS.. and th¢ strategic Teport akd the diT¢¢tors' report it)cludcd withirt the trusrees. r¢porf has b¢en prepared in accordaoce wilh applicthle legal requir¢rn¢Dt¥'. Report of the Indepemdent Allditor8 19 the Memb¢rs ol Internatiooal Bible Stud¢nts A8wciatlon txiters which wè ire required to ￿POrt by extcption In the light of the knowl¢d8e and understanding of the charitsble company and it5 envirOTllJ￿nT ubtdined in th¢ ¢ourse of th¢ audil, we have noi idenlificd maieTial missiatern¢nl in ihe slrale8lL r¢pon or the dErtttor5' report I￿luded within Ihe trusiee5' rerxirt. We have noihing to report in resp¢ct of The followng matters ill Tel&tion io which thc Companics Act 2006 aJMI the Charili¢s Actountb. (Scoil#ndl Rcgulations 2006 (as amendedi requiT¢ US 11) repokri Iv you if, our opiJJithn'. d¢qu*le and proper accountittg T¢COtds have not b￿￿ kq)l. or reDJrnS odequaie for ouraudit have been re¢eTV from braiiches not viqiied by us,. or lh¢ fjntllcial siarem¢nis are not in agrecmcnt wilh the accounling rewrds and JYwrns= or certsin disclosures of lrn#¢es' remuttemion STp¢¢ified by law are not made,. or wc have nor re¢¢ived all infornètion and ¢xplanations we r¢quire foi our audit. Respon$ibilllles of tru5tte$ As Cxplained mole r￿llY in lh¢ Siaiem¢ni of TTU.St¢¢s' Re%ponsibilrliES, Ihe Irust¢es (who are alsth Ihc dirctlors nf Ihe hari￿bI¢ comparty for the purposes of CoMp￿Y lawl are rrfponsible forthe prepaTatioD of tlie fiTharKial staieTll¢Thts and for bcing s31isfi¢d that rhey ¥iv¢ a in* gnd fair view. and for such ini¢rnal conirol a5 the trusiccs del¢rniin¢ is necessary to enable thc preparation of f]n3ncial stdlemenis that are fre¢ from rnakrial misstatement. whether duc to fraud or error. In preparing th¢ fjnantial 51at¢ments, ttL¢iruste¢s 8re rcspon51bte fora5s¢ssing ih¢chari1obl¢companys abiliryto conlinu¢ as a ¥oing e(xJ¢¢nL disclasitt¥, as appIJLab]¢, matters r¢laied 10 going eoknc¢nJ and using the ¥oing toni¢m basis of accowitillg unle5$ the trust¢¢s eiiher intend to liquidai¢th¢ chariiable Coinpany or to teas¢operatioDs. or hav¢ rK* reali$ii aliernaiive but to do so. Re￿rI of the Jndepcndent Auditon to the M¢mber5 of International Bibl¢ Students Assoclation Our responslblllrfe8 for tILe 4udil of thÈ tblallclal statements W¢ have been appointed a$ auditor under scctioTh 144 of ihe c.harities Ad 2011 and se¢kn"on 441) of the Charities and Tlvsiee Investment (Stoiland) Act 2fft5 and report in a¢£ordance with the Acis and relevaTht r¢￿lationS made or having effect thereunder. Our (A)jceiivcsare toobtaio reasonable assuranc¢ about whether the fknancial 5tal¢menlS aga whole arc fT¢¢ foTm material missiaiemeni. whether du¢ lo fraud QT emr. and lo issuc a RcpLTrM ()rth¢ Independtnt Audiiors that includes our opinion. Rcasonable aSSUTance isa high Icvcl of a&8uranc¢. bul is rtoi a guaran￿ iha¢an l￿di1 tonducted iTh a¢coTdatKe wilh ISAS IUKI will always deieci a mal¢ridl misstaternent wh¢n il exists. Missiaiemeni8 cgn arisc from fra￿j or error and arc considered marerial if. indiv5dually OT in ¢he aggregatr. they could rcasotlably b¢ expeded to influ¢n¢¢ the economic deti*ions of users lakcn on the b￿5$ of these financial blJ¢¢menis. Tjit extent lo which our pw¢dures ore c8p8ble of detecting iJTe8ulariries, inclyding fT4ud ts detailed below.. CapabIlily of the *udlt In detetting irr¢gul2rlty. intluding fr•ud We identified areas of laws and T¢gulatioThs that could reasondbty be expected to have a material el'feet on Ihc fmanciAI siai¢m¢nls from our.. seneral comm¢nial and 5ecior exp¢ri¢ncc.' thTough verbal and writleJ] tommunicaiions with ihi)se charged wilh govctnartee and other martagcmtht". and via insp¢clion of the charity'¥ regulatory ond legal correspond¢nc¢. We discu55ed with ih05e char8td with govcrnan¢e and other mathagen)tht the ￿lICIeS and procethres regarding omplitttt¢e with18ws and r¢gulaiions. We communicat¢d id¢nlified laws and regulaiions 10 our team and Tetnoined alert 10 any indiLaloTS of n•n￿m)p118ncC throughout the audit. w¢ also specifiully ￿nsIdered *theie and how fraud may occur wilhin th¢ charit8bl¢ company. Th¢ pTrt¢tttial effect of thes¢12WS And regulations on ib¢ flljancial 5tat¢m¢Thts vllries considerably. FiT5tly, the charitable comp4ny is subject to I&w5 gnd Teglllations thai directly affe¢t the flnancial 518t¢m¢nlS, tncluding.. the th2ri1able company'5 eonstLtulion, T¥l¢vant financial reponing stsndards, cumpany law, th¢ Stalcmeni or Recommended Practice applicable 10 Charities prcparing their acc4)unis in 8ttordan¢e with FRS 102 leff¢ctive from I January 20191- and we assess the exteDt of complian¢¢ with these laws and regulations as part of our procedures on the r¢latEd fitkttckal staiemeThl il¢m$. Secondly the ch￿ilable company is subject lo mJny other laws and regulalion5 where Ihe consequcnc¢s of noth- OTnpliance eould have 8 rngt¢rial effect on the amounts or disclosures in the finan¢io15t*tements, for instance throu tlie imposilion ()f fines and penalties, or IhTI)UBh losse5 arisiiig from liligaiions. W¢ identified the following aTe3s a those most likely ro have such Jn affect.. le8islation direcily applicable io charitics scctQT is the Chariii¢s Art 2011- healih and safety legislation,. the regulariiy Tequirements of ihe Chanly Commission and OSCR,. tax l¢gislation particulaTly in ielalion lo gift aid and making overseas donation& safcguarding kgislation. data protection kg￿lali01L anti-bribery and corruplion legislation. Jntemalional AudLIiD8 Siondard% {UKI limit the required pwccdvres to ideniify non-cornpli&nce wilh these law$ ond gulalions lo th¢ procedures. and no prowdures over and abov¢ tho¥E already noied are Tequired. Thes¢ limil¢d procedure8 did not id¥niify any aciual OT guspected non-¢ompli¥nce with laws and regulations thal could have a maicrial imp*¢l on the financial sratcmcnls. In relalKbn to Ihud, we perfornied th¢ followirt8 specifLC procedu￿5 in addition to those alr¢ady ttoied: Chall¢JJging assumptions madc by mana¥wn¢rti in ils SLgnificaTht 4CCOUnlirtg e81imates in parti¢ulir. rv¢O￿lI10n of Ideniifying alld testing journaL entrie4 ill particular any ¢ntries Posted wilh unusual nomiTwI ledger &ccouTht combinalions., Perfom)ing anglytical procedures to identify un¢xp¢ried movements in acrouni balall¢es wthich m¥y be indiLative of fraud: Ensuring thai iesling unden2ken on botii Ihc Sialtm¢ni ofFinan¢ial Activity (SOFA) and the Balance Shc¢t incJud¢$ number of items sclcclcd on a random basis. These procedures did not identity any actual or suspectcd fraudulent irre8ularity that could hav¢ a material impact ou tb¢ financial stsiements. Report of the Independent Audltor5 to the Members •f Internation41 Blbk Students Assoelation ON?ng lo the inhcrent limitations of an audil. there 18 gn unllvoidable risk that we n13y not hav¢ detected som¢ material misslJlemenis in ihe fir)ancial sraleTn¢nts. even Ihough we have properly pla[￿ed d1￿ p¢rfomied our audil in a¢cordance with JnieTnational Audiling Standards IUK}. For examplc. the further removed non-compliaJJ¢¢ wth laws and re8ulalion¥ is fA)m the ¢venls 2nd Ir¥n5aelions refl￿ted in die financi815taiements, the les% lik¢ly the piocedyres that we are required lo undertake would identify it. In addition, as with any audit. there remainb a high risk of non-dett£tion of iTr¢gulaTilit5, as th&%e might involve Lullusion, forgery* Jiileniional omissien.%. misrepresenlaliot). or the override of internal tonirols. We are not r¢5ponsible for PTCVtniing non-¢ompliance with laws and r¢gulation% Dr fraud. and caThnot bc expect¢d to d¢tect non-compliance wilh all laws and r¢gulations or cv¢ry incidenc¢ of f]3ud. A furtherdes¢ripiion of r¢sponsibilititt forthe aLKlii of the financial ￿ateMen[S is lurated on Ihc Financial Reporting Council's wcbsiie at i¥-ii Auditors. ibiliiii.i. Thisd¢5criptioll formspartefourRepon of the Jndeper)d¢nt Use of our report This re￿rI Ig made 501ely to the chaTitrdblc company's mcmbers, as % body, in aceoTdance wtih Chapter 3 of Part 16 of rhe Companies Act 2006. and 10 Ihc charitsble eotnparLyS irnsle¢s, as a body, in aceard3nc¢ with Regulaiion 10 of ihe ChaTilie5 Aceounts {Seotland} Regulations 2006. Our gudit work has b¢¢n undendk¢n so Ihat wc might stale to the charilBblc company's mrtnbers and iiust¢¢s Ihose mBtt¢r8 we r¢qUi￿d io %lalr to thein in all auditor's rep()Ti for no otheT purpos¢. To rhe thlle5t cxttnt perniitlcd by law. we do not ac*epl or a55ume T¢5ponsibility lo anyone oth¢r rhan the ¢harilable company, th¢ ¢hariiable company'.% rncmbers as a body and the chariiabl¢ company'5 tnwees as a body. foT ouraudil wotk. for Ihis report. or fot the opiniotis w¢ have form¢d. Carolinc Peiers {Scnior Stalutory Auditorl For and on b¢half of Rirkard Lutkin Ljmited Chartered Ar¢ountant$ Staiulory Auditor 1st Floor, County Hous¢ Ino New London E55ex CM2 ORG Date.. Intern*llon41 Bible Students Association Statem¢nt of Flnaneial ACtI￿tIeS (In£orpor¥llng an Income and Expendlturt Aceownl) lor the Yewr Ended 31st August 2024 2024 2023 Unres*i¢ied Unre5triiied fllrnd restalcd Nules INCOME AND ENDOWMENTS FROM Donaiion% and l¢gacies 34,402.956 40,460.335 Investm¢nt Encome Other income 149.291 15.472,335 94,027 2.972,563 50,024,582 43.526.925 EXPENDITURE or4 Charitable *¢tlvltles Provision of conventions for Bible education Donations and aid Provision of s¢rvi¢d faciliiies Cans]g for m¢mbcTS of Ihc Order Provision of facilili¢s to produee Bible-b￿¢d li*TaluTe 2,567,404 35,147,017 7,176,615 12,459,208 2,088.414 25,008,Y72 5,963.7Q5 10,403.711 490,950 376,514 Tot•1 57.841,194 43.841.316 NET INCO.MEIIEXPENDITUREI 17,816,612) 1314J911 RECONCILIATION OF FUYDS Total brought forward 168,619,300 168,933.691 TOTAL FUNDS CARRIED FORWARD 160 802 688 168 619 300 Thc ￿t£S finanthal ststrrn¢nty Internation41 Bible Stud¢nts Asso¢i4tlon Balance Sheet 3A$t Auyst 2024 2024 2023 Unregtri¢ied fund Unre81rided ruAd as r¢stated Notes FIXED ASSETS Tangible assets Social investm¢nt5 10 159,047,206 460.215 165,905,728 460.215 159.507.421 166,365.943 CURRETrrf ASSETS Stocks Debto Cash at bank and in hand 136.168 5.429,555 2.029,993 13 148.700 5.550,810 2.574.285 7.595,716 8.273,795 CREDITORS Amounts falling due wiihiTh one year 14 13,372.5681 (3,092.557) NETCURRENT ASSETS 4223,148 5 181238 TOTAL ASSETS LESS CURRENT LJABILITIES 163,730,569 171,J47.181 CREDITORS Amounts lalljng due aner￿ore than one year 12,927.8811 {2.927,881} NET ASSETS 160.802,688 16¥.619.3(Kl FtJNDS Unrestrict¢d ￿llds 160,802,688 168619300 TOI'AL TrIINDS 160.802,688 168 619.300 Thc linancial staiemenlswere approved by the Board of Trusl¢es and authorised for issue ott.Q..F.q>ith..A .. and weie slbed on its behalf by.. J Manley- Trustee A Suttoh- Ttuslct The no￿$fO￿opOrt Oftl￿1]naM￿al sla*mertts Internation#1 Bible Stsdents Association C#sh FIDW Statement for the Ye¥r Ended 31st Aueu$t 2024 2024 2023 a5 r¢stst¢d Notes C*sh ntrws from operAtI]bg activities Cash gtnenttd from operations 21 20,132.134} 811,0211 Nct cash us¢d in op¢ratillg activiiies 120.132.134 811.0211 Cash flows from investing activities Putchusc of tsngible fixed assets Sale of tangiblc flxed a55¢ts Inieresi received 12,117,915) 21,556.466 149,291 {5.746,2641 8.565,302 Nd tash PT0Vid￿ by invesiing aclivitie5 19 587,842 2,913.065 Change in cash ¢*¥h e4ulvalent8 In the rtporllDg perind Cash and ¢8sh ¢quiv4l¢Ni$ gt the beglnnlng of the reporting period 1544,2921 2.102.U44 2.574.285 472241 C#sh omd cash e4llivaleDt5 at the end of th¢ r*portlng perlod 2,029.993 2.574.285 Thenoics foThiparl oftht%t lIn￿¢la1 Ststem￿ts Internadonal Bible Students Assoclatio NDte$ to the Fin4n¢ial Statements for the Yeir Ended 31st August 2024 ACCOUNTING POLICIES B*5i5 ofprep*rkng the fillane1￿ stxt¢me•ts The fLnantial statemenls of th¢ chariiable company> a company Itmited by guaran¢ee T¢gisi¢red in the Uniieir Kingdom, whi¢h isa public betttfit entily under FRS102. h*vebe¢]] prepared itt ac4ordgncc with applicable ¢harity and company law, namely the Ch&Tirics SORP IFRS102} Actollnting and Rcporting by Chariiies". Stat¢rn¢ni of Rwommended PrgctLec applicableto chariries pr¢paringtheir*cLount5 in accordance with theFinan¢ial R¢porting Standard applirable in rhe UK and Republie of ITeland IFRS1021 (effective l Janknsry 2019),. Financial R¢porting Slandard 102'The FinanLiyI R¢porting StsndJrd applicable in lh¢ UK and Republicof Ireland, (effective l JaD¥ary 20191. the Companies Aet 2006. Tbefinancial 8tal¢ments have been ptepar¢d undcr the hisioriral c05t conventionor traD8actionvalue,unlcss statwl in Ihe relevanl accountlll8 policy M>ielsl. All amounts ate Stated in pound5 sterling and roUtWJ￿ to the near&81 whol¢ number. Critical a¢countln8 Jkndgements And kev 50urte5 of estlmatioD uneertainty The pr¢paralif)n of th¢ financial slalem¢nis rcquires jud¥¢Tn¢nls. estimations 9nd assun)pti()n$ to be madc that affect ih¢ reported valu¢ ofasscts, liabtlitie& income and ￿P¢ndIturc. The natur¢ of tsiimaiion and judgement Incan5 that aclual oulcomes could differ from ¢xpeciation. A significant 8Tea of ¢slimalion and judgeincrbi i& when support C05rs havc been allocaled to ictivity i>n a basis C0Th5isl¢nt with their us¢ of resources. Anotheresiimat¢ in financtal 51at¢rnents is depre¢iation. The ttuste¢$are of the opiniom that rhe ratc$ applicd io th¢ financial Statrmenls are 8pprtspriat¢. All income, wheih¢r in the fom of d￿atIO))& lega¢i¢s or gift Sid i5 rcCO￿lSed in th¢ Ststemeni of Financial Activities (mcc thc Associaii()n has ¢nliilemeni to the funds, ii is probabl¢ ihai the in¢orn¢ will be recciv¢d and lh¢ amounr eaA b¢ Tn¢asuredtr¢liably. Donglions ill the fo]7n of assets ar¢ gcn¢rally included ai fair value. Wh¢r¢ 0￿¥1￿1￿8 a fair value is ttot pra¢ti¢al or ben¢fi¢ial, (he valu¢ provided by the donor may b¢ used. For legracies, eniiil¢meni is tsken 4$ the earlier of thc datc on ivhich eith¢r.' tht Association is aware Ihat probate has been granl¢d, th¢ cstaie has b¢¢n finalised and notific41ionhH¥ b¢¢n made by the ¢xccutor(s) 10 th¢ Association Ihat a disitibutioll will be mRdc. or when a disiribulion is received from th¢ tsiaie. Rec¢ipt of a le¥Ky, in whole or in part, is only considered probable when th¢ aTnouni can be m¢asurcd reliably and the Association has be¢n noiified Of Ihv ¢￿￿￿10r.$ inien(ion 10 mak¢ ts dislribulion. Expendlture Liabililie¥ dre iecognlsed as cxpcnditsre as soon 4$ th¢r¢ is & legal or Lonsttu¢tive oblig*tioJk ¢oll]mitting the Association to ihal expendLiure, it is probable that a transfer of economic benefit% WTII bc Teouired in settl¢m¢nl. and ihe amount of the obligation can bc meosured reliably. Expettditiir¢ Is ductrunid for ox an *¢cnJ415 ba5LS alld has been cla55ified under h¢adings thai aggrcgate all cost relllied to thc catCEOry. Where ¢o$i$ trannot b¢ directly attributed ta particular headings they have been allocated as d¢¥iibed ID rhe folluwing paragraphB. Alloeatlon apportionmen¢ of tosis Where a ¢05t is incurred for the pury>ose of directly 8chievLttg olle of the charitabl¢ ai]lls li is gllo¢aied to that partirular aiin. Some Lus15 do noi relaie lo particular airn. bul suppon all ot the aims of Ihe Associalton. When Ihis is Ihe case rhc support¢osl isappoTlionedto the aclivitybasdon the proportion of direct costs it incurs. Thisdo¢s not include the dollulivns activity as rninimal support ctssts BT¢ illcuTted in this Aciiviiy. TaDglble tlxed ajyetj Fixed asxl¥ aT¢ valued ai cost less depretiation. Asscls costitt8 l¢$s than £3,ffl0 are t￿t capiialised. Inlernatlonal Bibk Students Association N•tes to the FinaKial St¥tements- continued for the Year Emded 31st August 2024 ACCOUNTING POLICIES- continued Tallgible fI3cO #x$ets Depreciation is providcd ar th¢ following inrtual rates, less estimai¢d r¢5idual value, in order to wrile off ¢8¢h dsset over tts estimated ￿$¢￿[ life.. Freehold la￿1 Buildings Plant and machin¢ry* fJxlur¢$ filliThg$. Computer equipment I￿/& to 20°A OTh c05t Motor vehicles J2.5Q/o 10 20¥h on co$1 Asseis in the course of construction Noi depreeia*d Irnp3iTtneiil teviews a[¢ carried ouion individual assets when therc is some indicalion ih?I th¢ r¢coverable amount of a fixed a*%¢i is below its net book value. Not depT¢¢iated 2•/0 to 2.5 on Cost Social ihvtstments The Association classifies 115 social i*vesimenis as PTogramm¢ r¢lal¢d. The inveslmeni Is l() furth¢r chaTltabl¢ aims. and 3ny finan¢ial T¢tum is ittcidental. The inv¢stment is held attOBI Icss impairnicntas fair volu¢ unnot be nJcasuT¢d r¢liably. TAxatlon The charity 15 exempl ftorn coryoraiton tax on ils chariiable activities. Fund ateountlng Unresiricicd funds b¢ u￿d in &ccvrdance wilh Iht charirable objcctlVC5 at thc di5¢rclion ofihe INsie¢s. Forel£n eurreneies Fo￿l8n eurreney balances havc bccn translatcd &1 thc prevailing rdre on ihe balats¢¢ the¢1 (tsl¢. Inc¢)m¢ and ¢xpenditur¢s duritlg the year have been van51al¢d at the preN'ailing rate on th¢ day ufthe trdllS8cIion. DoD#ted gwTrds Donatedgoods are recoKnigLYias income when Ih¢Association has control overthc item.any conditions &sso¢iated with ihe donllled ttem htsve been mct, tkc r¢c¢ipl of cconomic benefil from ihe use by th¢ ￿￿sO(lO110￿ uf the item is probabl¢ that ¢conomi¢ benefit c¥n be me8suT¢d reli2bly. These would be measured at tair value unless impractical lo do s(F. In such eascs donated goods aT¢ r¢cogni5¢d Jl cost. Oth¢r rttogthkÈd gaIn8 Ind kn8eJ Th¢5e COtnpri5¢ unrealised and realised gains and losscs on inv¢stm¢nts. UnTealised gains and Ioss¢s repTe¥¢nt the differencf b¢tw¢¢n th¢ TngTkel Vdlue bwu%hl forward {orco41, for assets bou¥lii within this financial yearl and the mark¢t valu¢ al the balance slieet date. Realiscd gain5 and Ios5C5 r¢pr¢s¢Tht the difference beNecn salc5 procc¢ds and mark¢t valu¢ brought forward {or cosr. for assets bought within thi¥ finan¢ial year.) Interesl Receivable Inieresi on funds lield OTL d¢psit is included when receivable and the amount can be mEa8ut¢d reliably by the Charity,. this is normally upon hotificarion of the interest paid or payabl¢ by the bank. Debtors Debtors are recogniscd al Ih¢ thtal amount due 10 the Associaiion. Prepayments ar¢ valu4xl ai Ihe amouni prewdid net of any trade d￿cOuntS due. Cash gt bank in Cash atbank and in hand includes curr¢nl )nd d¢posil accvunls as well as trivial umDunL% of peiry c&%h. Credltors Cirditors recogttised wheT¢ th¢ Assotiatiott has a present obligation resulting fr(>m o past event that will pr(>bably result in (he iransferuf funds IL) a Ihird party and Ihe aniouni due 10 seitle Ihe obligation c3n be rnea%ured or ¢51i]nated reliably. Crediiors are nOm￿llY r¢cogrLi5cd at their scttlement amount after ojlowng for ￿Y trade di%tollnts diie. C.onces8iotury loans are initially musuTed aÉ th¢ amount Teceivtd. The cirrying amount is subsw¢ntly adJ.￿Sted to rctlect 4ny imP4iTmtni or accnsed inteT¢Si payable if applicable. International Bible Students Assotiation Ntstes to the Financial Stat¢ment$- tontinued f•r the Year End¢d 3151 August 2024 ACCOUNTING POLICIES- coD¢lnued FI￿?￿¢1*1 instrnmentj The A$sociarion ha¥ ¢l¢t*ed 10 apply th¢ provisKkns of Section I l Basic Fin2n¢ial Instrurncnls, and Settion 12 Diher Financial InsirutnenLs Issues, of FRS 102 10 all of its financial insmjmettis. Finan¢ial inslNments are r¢wgnised tD th¢ AssoC￿tIon,8 balffjncc shcct when th¢ Charity becomes party ro th¢ ¢ontractual provi$ion5 of th¢ I￿$1￿[ner￿L Financial assets and liahilili¢s are offset, wilh the nei &mvunls PTesenied irt the financial ￿￿tementS. when IheTe is a legally enftsrr¢ablc right to sei off thc Tccognised amounts and Ihere is an int¢iJlion ￿ È*il¢ on a n¢t ba&s or io realise the asset ond settle Ihe liability 5imulianeou81y. B4slcfittfjncivlossels Basic financial assels, which include d¢bioTi and cash and bank balance& Ar¢ initially measured at transaction price I￿l￿dIng transacliot) Costs Hnd arc subseqlleiitly caffied al amortised tost using Ihe elT¢L'tiv¢ iDt¢resr meihod LkThless Iht artangem¢nl con8titUies a financing iransaciion, wh¢rc Ihe tran￿¢tion is measured at tlie PTe4ent valut of ihe fttttjre r¢¢cipls discounted al a marktl raie of interest. Financial a¥b¢t5 classifitd os ret¢ivable wiihin o year are not atnort15ed. Basic fiknanciBI liabiliiies, incliiding creditors and bgnk Io?D8 are initially Tecognised ai tran.$aclion pric¢ unless the arrangen]¢nt conslituies i financiThg ittnsaction, where tlie debt ItTr$tTu￿ellt is measured at th¢ prc5cni value of ihe fuiuTe ￿Y￿1¢ni$ discoumied Jl a market rate of inl¢rest. Financial liabilili¢s elassifitd as payable wiihin ycar are not amortistd. Debi instrumcnts are subtseq￿Trdy caLTied ai am0th￿ed cosi. using th¢ ¢ft¢cb"ve intero8t rn¢thixJ. Trade credrtOT5 are obligation$ to pay for goods or s¢rvtccs Ihar hfjve be¢n 8cquirLxl in the ordinary course of Opcrnlions (rom supplicts. Amounis payable ¢1￿51r1ed as CUTrvni li8biliiics if paymenl is duc wiihin ottt year or less. If noi. thcy are ptesentcd as non-turrent liabilities. Trade creditors are recogni¥Yd initially at trallsadion pncc and subsequenily mEasuT¢d at amortised cv51 using Ihc effective int¢r¢5t meihthl. Financi&l liabiliiAcs are dereco8nised when th¢ charitys conirdtW41 obligations expir¢ or ar¢ diseharged OT ¢onc¢llvd. Golng Concern Th¢ Iwst¢es consider Ih¢ A550ciatton a 80ing ¢0￿crn and have tho material utt¢crtainties in this reg*rd. A $truDg baiant¢ sheet position and consisterjl incthne ba5¢ ¢ontribule to thiy ¢onclu5ion. DONATIONS AND LEGACIES 2024 2023 8$ restai¢d Cjift aid Le8acies Non-c85h donaiiot)s Cash donations 2,103,329 6,038.261 1.931393 24.329,973 2.169,315 10.540,521 3.514,982 24.235.517 34.402.956 40,400,335 20 Internltlonal Blble Students As50ciatio Note5 to the Financfial Statements - contlnued for the Year Ended 31$1 August 2024 INVESTI¥JENT 1Tr4COML 2024 2023 Deposit a¢¢ount interest 149,291 94.027 OTHER INCOME 2024 2023 G&in on sale vf tarbgible rtxed assets Foreign cutrency gains Oihcr r¢v¢DU¢ 15,377,292 16.100 78,943 2,837,271 24,575 110,717 15.472,335 2.972.563 CHARITABLE ACTIVITIES cosrs Support cos15 (se¢ llote 61 Direct eosLq T￿81$ PTOViSi*n of ¢onvenÈiot)s for Bible ¢ducalion Donations and ald Provision ¥f Serviced facilities CgriThg for ]nembets of Ih¥ Ordef Provision of facilities to producc Bibl¢- based lit¢ratute 2,247,158 35,147,017 6,362,945 11,027,185 320.246 2.567.404 35.147,017 7,176.615 12,459,208 813.670 1.432.023 429,710 61.240 49Q.950 55.214.015 2.627.179 57,841.194 Comp*ra¢ives fut 2023 Support costs {see olv 61 Dir¢¢¢ Costs Totsts Provision ijfconi'entions for Bible education Donations and aid Provision of seryic¢d facilities Caring for memb¢rs ofihe Order Provision of facililL¢5 10 produce Bible-bastd li¢rattJ*e 1.850.026 25.Q08.972 5243.326 9.150.460 330.902 238.388 2.088.414 25,ODX,972 5.963.705 10.403.711 376.514 720.379 1,253251 45,612 41.583.686 2257.030 43.841.310 International Bible Students Association Notes to the FiMnclal Statem¢nts- Co￿￿￿Ued for the Ytkr Ended 31st August 2024 SUPPORT COSTS Gtsvern4J)ce MaTJagemeni Fin&nt¢ Totsl$ Provi.%tnn of eonv¢ntions for Bible ¢ducaiion Provision of serviced facilities Caring for me]nb¢r¥ uf the Order ProviEion of facilitie$ to Produce Bibl¢- b35¢d I1*r￿U[e 295,459 761.054 l J21,181 16,956 43.083 75,824 7,831 9.533 35,018 320,246 813.670 1.432.023 56.499 3,243 1,498 61.2410 2.434.193 139.106 2,627.179 ConhP4tatives for 2023 Govcrnan¢¢ costs Manag¢rncnl Finantt Tothls Provision of¢on¥'eniions for Bible education Provisjon of s¢rviceil facilities Caring fur members of th¢ Ordcr Provision of factlities io produ¢e Bibl¢-b4sed literaiure 213,843 646.203 1,124.206 17,947 54.234 94.352 6,598 238388 19,972 720.379 34.693 1.253.251 40.915 3,434 263 45.612 2.025.167 169.967 62.496 2.257,630 NET INCOMEIIEXPENDITURE) Net incomellexp¢ndiiurel is slated atler Cha￿l￿￿(credi¢]ng}. 2024 2023 Auditors, T¢muneralion Dept¢riation- owrtLd 455cts Surplus OD disposal of fixed asset$ 53.880 4.194.350 115,26J,3791 62.496 4,110,068 12.782.816) TRUSTEES, REMUNERATION ANI) BTr.NEFJTS The trustees do not rtteive any IcmuTJcraiion 01 benefjts for Ilieir rv1¢ as Iruste¢s of Ihc charity. I lowevei. 011 rru$iee5 are membeTs ot'a worldwide r¢ligious order. By I'irtue of thcir membership of the reli8ious order. they land if married lo * m¢mbcr of Ihe t>Td¢T, Iheir spous¢l rective from the As¥Vfi?tion accommodatioTr, meal.%. ¥ modest allowance aThd ¢en8Eti oih¢T persoiial services dependittg on agc. The total allowattL¢ paid to each trustce and thetr spous¢5. by wrtue of Iheirmembership of IlL¢ religious vrd¢r. in the yearcndiJJE 31 Augusl 2024 wa% £2,5(￿}I2023.. £? 4501. Th¢ Irusices and their5poustt% dnnaltd in lolal £1.723 12023.. £2.140} to th¢ ¢hariry. Truxt¢¢5 expenses No exp¢nses were reimbursed lo Iru5tees in th¢irrol¢ a5 InJst¢¢s during this year or the previous year. 22 Internatlonal Bible Students Asso¢i&tion Notes to the Financial St#tements- contin￿ed for tht Year Ended 315t AMgu$i 2fj24 PRIOR YEAR ADJUSTI4IEFIT The pr￿[ ycar adjusttn¢nl pertains 10 a legacy amounting to £3.1 millJoL. which wls received ill ihe cu￿¢nt ycar but should hav¢ been r¢¢o8nised and accrued in Ihe previous financial year as that 15 Wh￿ PTobate WL8 8ranted. A& at 31 August 2023 A% I￿1￿us1Y >ned Adjuskncni A5 rcsiulrd Chfinys to Statemeni •f Fin#Dtlsl Attlvlilea Don3ljvD¥ & leL?a¢ies Chan¥t5 to the Balante She¢t VE￿striCted thnds 37 347,376 3 112959 40.4(￿l.335 165 506 341 3.112.959 168 619,300 TANGIBLE FIXED ASSETS the course of ¢on$rnciio Fyeeknld PToperty Plant and mfy¢hinery MoloT velucles Totals COST At 151 S¢pt¢mber 2023 Additions Disposals TTansf¢r to ownership 185,001.020 .923,117 110.055.2551 1,810.801 717.IM)9 1.098,442 14.650) 1,810,801) 2,813,362 321.775 (217,OJ21 1,453,193 189.984.584 287.581 3.630,915 173,0041 110,349,941) At 31st August 2024 178,679.683 2,918,105 1.667.770 183.265.558 DEPRECIATION Al I si Seprember 2023 Char¥e fui year Elimjnared on disposal 22,294.725 3,81>9.860 3,861.7461 1,318,785 22%,2X3 151.0971 465,346 156.207 42,Qlll 24,078,856 4,194,350 4 054.8541 At 31st Au8Us12024 22242.839 1,395,971 579.542 24.218.352 NET BOOK VALUE At 31st Augusl 2024 156,436.844 1.522.134 1 088.228 159.047.206 Ai 31st August 2023 162,706,295 717.0(19 1.494 577 987.847 105.905,718 SOCIAL INVLSTMENTS Programme r¢i¥ied iDves1ts]enLS cquiry MARKF.T VAI.UF. At Isi Sept¢mb¢r 2023 ¥rtd 31st August 2024 460215 NET BOOK VALUE At 31st August 2024 400,215 At 31 sl August 2023 460.215 This ￿presents an inve%tm¢ni in a proj¢rt whiLh helps Jehovah's Witnesses aiound the world fittd plar¢s io rneei and carry out dkeirworsbip. Th¢ truslees ar¢ pleased witli the resulis achieved gnd 8r¢ wnfidetttihal it will continue 10 advance the charittsble aims of rhc A5swiation. 23 International Bible Students Asso¢iation Notes tts the Statements- £Dntlnued lor th¢ Yeir ETrdtd 315t August 2024 J2. STOCKS 2024 2023 Sro¢k5- elcctrical. maintenanee and home supplies 136,108 148,700 13. DEBTO 2024 2023 Js rcstated Amounts falling due withinon¢ year.. Othcr dcbtors Prepayments a￿d accrued income 383,674 3,795.881 684.610 4.866,200 4 179,555 5 550.810 Amounls falling due *fftern)ote than one y¢ar-. her debknrs Aggre￿¢¢ &mouTht$ 5 429.555 5.550,810 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 I'rade CTcditors Other credilors DeftrTr￿ incott)c Accrucd expenses 280.¥8¥ 1,870J63 468,478 1.845.820 500,0 278.259 3,372.568 3.092,557 15. CREDITOK8: AMOIJNIS FALLING DUE AFTER MORE THAN Of4E YEAR 2024 2023 Other loaDS Is¢¢ note 16) 2,927.881 2.927.881 16. LOANS Loans T¢prtsent a ¢oll¢es5ionary ltsan, wilh no intere*t charged, froin other charitable entities wtih similar aims and objectii'es. It is not secur¢d againsr 2fky a.%sels of the Association. Th¢ loat) has not bccn called in by the -%ignin% dale Df Iliese financial 51a*met)Is. Th¢ Iruslees undeThiand that nthtic¢ will be given in advance of th¢ loan b¢ing called ttnd, until sueh tinK as thi$ 15 the case. have recorded The loan in lon8 temi liabililic& International Bible Studellts Association Notes to the Financial Statements- tontinued for ttle Y¢¥r Ended 31st August 2024 17. LEASILYG AGREEMENTS Minimum1¢8s¢ payments under non-¢all¢cllabl¢ operdting leases fall due &5 follows: 2024 2023 Within one year Bctwc¢n on¢ and five years 389,612 7.118 403.886 396.730 453.732 Th¢ omou]]t of l¢as¢ payments re¢ognised as an cxpcn5c in th¢ y¢ar was £644,(K)012023 £ 309,0001. 18. MOVEMENT IN FUNDS N¢t ov¢m¢mt in lunds Al 31.824 Al 1.9.23 Unrestrict¢d furtds General fund 168,619.300 17,816.612} 160.802.688 TOI'AL FUNDS 108,619.300 7,816.612) 160,802.688 Nel movement irt funds. includcd in ikne a￿ve are as follows.. Resourc ¢xpended Movcm¢nt in fvnd$ Te5QUTCe3 Unrcstrttt¢d funds G¢n¢Tal fuud 50,024.582 (57,841,194) 17.816.612} TOTAL FUNDS 7,816,612) Comparatlv¢s lor movtmettt In NEt ]nove￿*￿t in funds At 31.8.23 At 1.9.22 Unrestri¢t¢d f￿ndS ¢n¢ral 168.933.691 1314.3911 166,619.300 TOTAI. FIIND.8 168 933 691 ￿514 3911 168 619.300 25 International Bible Students Association Notes io the Fin8nclal Statements'_ conti]hued for the Y¢Ar Ended 31st Auguit 2024 18. MOVEMENT IN FUNDS- contAnued Comparative nel movemeThi in fund& incAu(kd in the above are 88 thllows.. lne(xni￿¥ r¢30Utrc5 Re5TrUTces expended Movern¢ni ID Umrestrltted funds G¢ncral fund 43,526,925 143.841.3161 1314.391} TOTAL FUNDS 43 526,925 {314 143.84J,3161 ￿91) 19. RELATED PARTY DISCLOSURES Th¢ only Telaled parties are Ihc trustees, how¢ver (here ar¢ nu related party iransaciions io di5clost oth¢r than those ineluded wirhin th¢ trustees, remurLeraiion disclostsr note 8. Although there #re no other i¢1gted parti¢$. rhc AssotiatioTh works closely widi other chdtitie5 in many countries whieh have similar Jims attd Dbjeciivrs. This is explainEd funheT IJJ thc Wtder Nciwork, paragJaph of the Rwrt of the Trustees. 20. POST BALANCE SHEET EVENTS On 12th July 2024 the TnJ$t subs¢rib¢d to pur¢h35¢ 631250 El Sh￿eS ttt Mill* Treasury Servic¢5 Limited 35 30cial investsll¢nt, and paid for These shares 8ftery¢ar ettd. 21. RECONCILIATION OF f¥ET kXPEL¥DITURE TO FIET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 as restattd Net expendilure f•r the reportihg perlod per Iht Stalement of inAntlal Aetivillts) Adjustmenls lor: tkpTeci31ion charse¥ Ptufit on di8pwI of fixed as5Cts JThicresi re¢¢ivtd Donat¢d flxed as8ets received Declea￿ in SIl￿ks Detr¢ascilincreas¢) In debtors In¢T¢as¢ in er¢di¢ors 17,816.6121 (314.391) 4,194,350 115,261.379} (149,2911 {1.513.IWI 12.532 121.255 4,110.068 {2,782,8161 (94.0271 19,027 {2,140.3501 391,468 Net cash ustd in operations 20 132 1341 811,0211 20 Internatlonal Bible Students A550eiation Notes to the Finanel81 Statetnents- ￿ntInUed for tht Year Endtd 31$t August 2024 ANALYSIS OF CHANGES IN fiET DEBT At 1.9.23 Cash tlow Ai 31.8.24 Net Cash Cash 81 bank and im hand 2,574.285 {544.2921 2.029,993 2,574 285 544,2921 2 029.993 Debt Ikbib- falling due after l y¢ar 2 927,8811 2,927,881) 2,927.8811 2927881 Total 1353.5961 1544,292) 897.888) 23. DKFERRED INCOME Defe￿ed income as at 1st Septemb¢r 2023 R¢lcase of defettcd income 5QO.000 DefcTred inconie as al 3[￿ Au8USt 2024 D¢f¢rred intome relatEd to a dtPD511 rL¢ived foi a property sale. 24. EMPI.OYEES The A%s0¢iaiion does noi have any employees {2023.- llill. 27