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2025-03-31-accounts

TheTrusteesconsiderthatthe unrestrictedreservesconsist
ofthefollowing:
Generalfund £8.4million
Designatedfunds £6.3million
TotalUnrestrictedFunds £14.7million
Buttheyexclude:
Fixedassetsreserve £3.4million
Capitalfund £1.1million
TotalforReservesCalculation
£10.2million

ANNUAL REPORT AND ACCOUNTS 2024-2025

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of legacy income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Audit and Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some

material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Crowe U.K. LLP Statutory Auditor St James House St James Square Cheltenham Gloucestershire GLS0 3PR

Date: 03 October 2025

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

INDEPENDENT AUDITOR'S REPORT

22

Unrestricted Restricted Endowment 2025 Unrestricted Restricted Endowment
2024
funds funds funds Total funds funds funds Total
Note £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Income
Donationsandlegacies 2: 11,320 3,168 288 14,776 10,144 3,205 283 =:13,632
Publishingandexhibitions 3 10,198 - - 10,198 8,832 - - 8,832
Othertradingactivities 3 320 - - 320 285 - - 285
4 860 - - 860 892 - - 892
Expenditure
Costofraisingfunds 5 (2,628) (231) - (2,859) (2,609) (228) (2,837)
Expenditureoncharitable
activities
MakingtheBibleavailable 7 (11,637) (1,301) - (12,938) (9,928) (2,489) - (11,417)
MakingtheBibleaccessible 7 (4,528) (106) - (4,634) (4,561) (121) (4,682)
DemonstratingtheBible’s 7 (2,444) (1,386) - (3,830) (2,613) (1,861) - (4,474)
¢redibility
Educatingthepublic 7 (1,537) - - (1,537) (1,578) - - (1,578)
Totalcharitableactivities (20,146) (2,793) - (22,939) (18,680) - (22,151)
Net(losses)/gainson = (945) (1,188) 1,021 = 1,076 2,097
Transfersbetweenfunds 22 - - - - - - - -
Otherrecognisedgains/(losses) 21 (25) - - (25) (664) - - (664)
—actualgainsondefined
13,028 30,908 16,412 2,741
4

Note Group Group Charity Charity
2025Total 2024Total 2025Total 2024Total
£'000 £'000 £'000 £'000
Fixedassets
Intangibleasset 12 358 404 358 404
Tangibleassets 12 2,560 2,778 2,560 2,778
Permanentlyendowedinvestments 14 12,339 12,999 12,339 12,999
Otherinvestmentsincludingsubsidiaryundertaking 14 ___9,788 11,136 __ 10,339 11,687 _
Currentassets
Stock 15
Debtors 16
Investments 14
Cashatbankandinhand
Liabilities
Creditorsfallingduewithina year 18 (4,939) (4,532) (1,043) (1,976)
Creditors— constructiveobligationforfunding 19 (2,065) (2,250) (2,065) (2,250)
commitments
Definedbenefitpensionschemeliabilitya
;
_ i _ eres
-
Thefundsofthegroup:
Endowmentfunds
WilliamLeechfund 22 10,038 10,596 10,038 10,596
Generalpurposespermanentlyendowedfund 22 2/3330, 2 2,338,432
71
Unrestrictedfunds
Designatedfunds 22 6,329
Generalfund
Pensionreserve 21 m i a =
Revaluationreserve

Group Group
Total2025 Total2024
2
fo}
ot
oO
£'000 £'000
Netcashusedinoperatingactivities > (1,993) (1,572)
Cashflowsfrominvestingactivities
Dividendsandinterestreceivedfrominvestments 860 892
Purchaseoftangiblefixedassets (94) (106)
Purchaseofintangiblefixedassets - (35)
Purchaseoffixedassetinvestments (286) (271)
Purchaseofinvestments (198) (253)
Proceedsfromsaleofinvestment 1,000 -
Netcashgeneratedfrominvestingactivities 1,282 227
Cashflowsfromfinancingactivities
Receiptofendowment 286 271
Netcashgeneratedfromfinancingactivities 286 271
Changeincashandcashequivalentsintheyear (425) (1,074)
Cashandcashequivalentsatthebeginningoftheyear 4,706 5,780
Cashandcashequivalentsattheendoftheyear : 4,281 4,706
Notestothecashflowstatement
NoteA:Reconciliationofnetincometonetcash usedin operatingactivities
Group Group
Total2025 Total2024
£'000 £'000
Net(expenditure)/incomefortheyear (832) 750
Addbackdepreciationcharge 358 357
Movementinrevaluationreserve (185) -
Deductinvestmentincomeshownininvestingactivities (860) (892)
Losses/(gains)oninvestments 1,188 (2,097)
Investmentmanagementfee 106 112
Receiptofendowment (286) (271)
FRS 102pensionadjustments (25) (664)
(Increase)/decreaseinstock (55) 230
Decreaseindebtors (1,809) (520)
Increaseincreditors 407 1,423
Netcashusedinoperatingactivities (1,993) (1,572)

2025 2024
£'000 £'000
Donations 10,079 9,094
Legacies 4,697 4,538
Total 14,776. _—«13,632

2025 2024
£'000 £'000
Incomefrompublishing 10,198 8,832
Incomefrompropertyrentalandrelatedservices 164 153
Incomefromresearchandotherconsultancy 60 28
Incomefromeventsandothersundryincome 96 104
Totalincomefromothertradingactivities 320 285

2025 2024
£'000 £'000
—Returnsonpermanentlyendowedandunrestricted 799 788
investments
—Interestearnedonunrestricteddepositaccounts 61 104
Total 860 892

2025 2025 2024
£'000 £'000
Directcosts 2,022 1,938
Supportandgovernancecosts 553 520
IrrecoverableVAT 178 267
Managinginvestments
Peat
eaidascahoa
Ria
106
FST
eee
112

(2,837
Grantspayable
No.of 2025 2024
grants £'000
Internationalgrants
Africa Lt 176
China 1 100
MiddleEast
Othertranslationprojects 5 69
Totaltranslationgrants 17 345
MiddleEast
Othertranslationprojects
Totalproductionanddistributiongrants
Africa
China
MiddleEast
ProvidingBibleSocietypresenceinothercountries
OuP
u
p So
w
Totalcapacitybuildinggrants
Africa
MiddleEast
Otherliteracyprojects
Totalliteracygrants
Africa
China
MiddleEast
Otheradvocacygrants
Totalengagementandadvocacygrants
Totalinternationalgrants
Nationalgrants
CambridgeUniversityLibrary
Biblestoprisons,immigrationscentres,colleges
Othernationalgrants 139
Totalnationalgrants 223
Totalgrants 3,983
Thesegrantsareanalysedacrossthecharitableactivities asfollows:
2024
£'000
MakingtheBibleavailable 1,516
MakingtheBibleaccessible 216
DemonstratingtheBible’scredibility 2,220
Educatingthepublic 31
Total 3,983

National International 2025 2024
programme programme
£'000 £'000 £'000 £'000
MakingtheBibleavailable
Grants 87 1,301 1,388 1,516
Operatingcostsofcharitable 1,089 8,932 10,021 8,665
activities
Direct costs 419 811 1,230 1,008
Supportandgovernancecosts 103 196 299 228
1,698 11,240 12,938 11,417
MakingtheBibleaccessible
Grants 111 217 216
Direct costs 2,676 3,563 3,649
Supportandgovernancecosts 639 854 817
3,426 4,634 4,682
DemonstratingtheBible’s
credibility
Grants 62 1,675 2,220
Directcosts 1,204 1,738 1,843
Supportandgovernancecosts 288 417 411
1,554 3,830 4,474
Educatingthepublic
Grants 36 36 31
Direct costs 1,207 1,207 1,262
Supportandgovernancecosts 294 294 285
1,537 1,537 1,578
Totalcharitableexpenditure 8,215 14,724 22,939 Beri
2025
£'000
Makingthe Bibleavailablerelatestothefollowing stagesofthelifecycleoftheBible
Translation 345
Productionanddistribution 11,716
Capacitybuilding 877
12,938
MakingtheBibleaccessiblerelatestothefollowing stagesofthe lifecycleof theBible
Literacy 106
Engagement 4,528
4,634
DemonstratingtheBible’scredibilityrelatestothe followingstageofthelifecycleoftheBible
Advocacy 3,830

BibleTrading InterCo 2025 2024
£'000 £'000 £'000 £'000
Costofsales 9,028 (91) 8,937 7,586
Grantspaid 2 - 2 8
Projectcosts 79 - 79 91
Directinternalcosts 785 - 785 780
(91
Operating Raising Bible Bible Bible Educating 2025 2024
costs funds availability accessibility credibility thepublic
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Costofsales 51 130 70 201 98 69 619 577
Grantspaid 64 162 88 250 122. 86 772 706
Projectcosts 39 98 53 151 74 52 467 434
Directinternalcosts 46 117 63 181 88 62 557 527
2025 2025 2024
£'000 £'000
Governancecosts
Auditors’remuneration
—Externalaudit 33 31
—Otherfinancialservices - 2
—Stockcountcost 4 7
Othergovernancecosts ier
J
185
Netincome/(expenditure)forthegroup
Thisisstatedaftercharging:
Operatingleases— equipment 2 4
Depreciation 357 357
Foreignexchangeloss 44 65

2025 2024
£'000 £'000
Grosssalariesandbenefitsinkind 6,373 6,038
Socialsecuritycosts 645 604
Pensioncosts— definedcontribution 1,019 984
Accruedredundancycost 239 -
8,276 7,626
2025 2024
Number Number
Charitableactivities:
MakingtheBibleavailable 34 33
MakingtheBibleaccessible 58 51
DemonstratingtheBible'scredibility 29 28
Educatingthepublic 15 15
se; 127
Otheractivities:
Raisingfunds 27 27
Governance 3 3
166 157
2025 2024
£'000 £'000
£60,000-£69,999
£70,000-£79,999
£80,000-£89,999
RUN re)
£90,000-£99,999
£110,000—-£119,999 = Rh

In Total
development
£'000
Groupand Charity
Costat1 April2024
Additions - -
Disposals - -
Costat31March2025 449
Depreciationat1 April2024
Charge
Disposals - -
Depreciationat31March2025
Netbookvalueat31March2024
Netbookvalueat31March2025

Freehold land, Computers Motorvehicles Total
buildings and andother
improvements equipment
£'000 £'000 £'000 £000
GroupandCharity
Costat1 April2024 5,897 6,710
Additions - 74 20 94
Disposals (193) (373)
Costat31March2025 5,704
Depreciationat1 April2024
Charge
(3,311)
(220)
(3,932)
(312)
Disposals 193 373
Depreciationat31March2025 (3,338) (3,871)
Netbookvalueat31March2024 2,586
Netbookvalueat31March2025 2,366 176 18 2,560

Group2025 Group2024 Charity2025 Charity2024
£'000 £'000 £'000 £'000
Investments
Marketvalueat1 April 24,135 21,626 24,686 22,177
Additions 286 524 286 524
Withdrawals (1,000) - (1,000) -
Investmentmanagementfee (106) (112) (106) (112)
Netinvestment(losses)/gains (1,188) 2,097 (1,188) 2,097
Marketvalueat31March 22,127 24,135 22,678 24,686
Themarketvalueat31Marchrepresents:
Unlistedpermanentlyendowedinvestments 10,038 10,596 10,038 10,596
Listedpermanentlyendowedinvestments 2,301 2,403 2,301 2,403
Totalofpermanentlyendowedinvestments 12,339 12,999 12,339 12,999
Otherlistedinvestments 8,525 9,901 8,525 9,901
Investmentinproperty 1,263 1,235 1,263 1,235
Investmentinsubsidiaries - - 551 551
22,127 24,135 22,678 24,686
CurrentAssetInvestment
Marketvalueat1 April - - = B
Additions 198 - 198 -
Disposal - - 5 =
Marketvalueat31March 198 - 198 -

Group2025 Group2024 Charity2025 Charity2024
£'000 £'000 £'000 £'000
Tradedebtors 2,786 1,741 25 10
Amountsduefromsubsidiarycompany - 1,897 1,827
VATrecoverable 88 110
Sundrydebtors 3,125 2,553 2,399 2,072
DuefromUnitedBibleSocieties
Total
350
«6,349

136
4,540
aes
r
136
4,045
31-Mar-24 CashFlow 31-Mar-25
£'000 £'000 £'000
Cash at bankand in hand 4,706 (425) 4,281
Total 4,706 (425) 4,281 _—
Group Group Charity
2025 2024 2024
£'000 £'000 £'000
Tradecreditors 3,295 3,146 1,525
Sundrycreditors 1,641 1,321 451
DuetoUnitedBibleSocieties 3 65
Total ; 4,939 4,532 1,043 1,976
2025 2024
£'000 £'000
GrantstoUnitedBibleSocietiesprojects— 2,087 2,250
at1 April
Paidintheyear (2,776) (3,000)
Pledgedintheyear 2,754 2,837
At31March 2,065 2,087

Group2025 Group2024 Charity2025 Charity2024
£'000 £'000 £'000 £'000
Financial assetsmeasuredatfairvalue 22,127 24,135 22,678 24,686
Financial liabilitiesmeasuredatamortisedcost 4,537 4,299 689 1,808
31-Mar-25 31-Mar-24
Discountrate 5.7% 5.0%
Inflationassumption(RPI) 3.3% 3.2%
Inflationassumption(CPI) 2.8% 2.6%
Pensionincreases(RPImin3%max5%) 3.7% 3.6%
Pensionincreases(fixed3%) 3.0% 3.0%
RPImin3%max5%pensionincreases 3.7% 3.6%
PostretirementmortalityS3PAtableswithCMI 1.5% 1.5%
2020projectionsusinga long-term
improvementrateof:
1.3% 1.3%
Commutation(%assumedtotakethe 25.0% 25.0%
maximumcashfreecashpossible)
Commutationfactorsatage65 Pre1997: Pre1997:
17.5formales,19.1for females 17.5formales,19.1for females
Post1997:18.9formales, 20.8for Post1997:18.9formales, 20.8for
females females
2025 2024
£'000 £'000
Fairvalueofassets 14,758 15,833
Presentvalueoffundedobligations (13,934) (15,351)
Surplusinscheme 824 482
Effectofassetceiling (824) (482)
Netdefinedbenefitliability
Administrationcosts
Interestonliabilities
Interestonassets
Interestoneffectofassetceiling
Remeasurementsovertheyear
Loss/(gain)onschemeassetsinexcessofinterest
Experiencelosses/(gains)onliabilities
Losses/(gains)fromchangestodemographicassumptions
Losses/(gains)fromchangestofinancialassumptions
Losses/(gains)fromchangeineffectofassetceiling
Totalremeasurements
Reconciliationofassetsanddefinedbenefitobligation
Thechangeinthedefinedbenefitobligationoverthe
periodwas:
Definedbenefitobligationatthebeginningoftheperiod:
Pastservicecosts
Interestcost
Benefitspaid
Experience(gain)/lossondefinedbenefitobligation
Changestodemographicassumptions
Changestofinancialassumptions
Definedbenefitobligationattheendoftheperiod
Thechangeintheassetsovertheperiodwas:
Openingfairvalueofschemeassets
Interestonassets
Employercontributions
Rectificationsettlement
Benefitspaid
Administrationcosts
Returnonplanassetslessinterest
Closingfairvalueofschemeassets
2025 2024
£'000 £'000
Themajorcategoriesofassetsasa percentageoftotal
assetsareasfollows:
Equities -% 5.03%
Bonds 23.78% 26.95%
Cash 6.66% 13.74%
Otherassets(includingdiversifiedgrowthfunds) 54.28%
100.00%
£'000
Administrationcosts 272
Interestonliabilities 770
Interestonassets (813)
Interestoneffectofassetceiling 47
Total 276
01-Apr-24 Incoming Gains/(losses) Expenditure 31-Mar-25 31-Mar-25
resources and
investment
fees
£'000 £'000 £'000 £'000 £'000
Analysis ofmovementsinendowment
funds
William Leech(Notea) 286 (844) - 10,038
General purposespermanentendowed 2 (101) . 2,333
288 (945) = eee
$

27370
01-Apr-23 Incoming Gains/(losses) Expenditure 31-Mar-24
resources and
investment
fees
£'000 £'000 £'000 £'000 £'000
Analysis ofmovementsinendowment
funds
William Leech (Notea) 9,466 271 859 - 10,596
General purposespermanentendowed 2,203 12 217 - 2,432
11,669 283 1,076 : 13,028
01-Apr-24 Incoming Expenditure 31-Mar-25
resources
£'000 £'000 £'000 £'000
Analysisofmovementsinrestrictedfund
Restrictedgifts— national 387 1,123 (235) 1,275
Restrictedgifts— international 2,045 (2,789) 1,116
01-Apr-23 Incoming Expenditure 31-Mar-24
resources
£'000 £'000 £'000 £'000
Restrictedgifts— national 67 487
Restrictedgifts— international _2,674 2,718
WorkinChina 1,116
11otherfunds_
01-Apr-24 Incoming Expenditure Designations 31-Mar-25
resources
£'000 £'000 £'000 £'000 £'000
Analysisofmovementsinunrestricted
funds
Fundsdesignatedannually:
Multi-yearprojects 315 248 (139) - 424
Fixedassetsusedincharitableactivities 3,577 - (212) - 3,365
SpecialOpportunitiesfund 1,575 - (135) - 1,440
CapitalfundforBibleprovisionoverseas 1,100 - - - 1,100
(ProjectJireh)
Generalfund:
Freereserves
01-Apr-23 Incoming Expenditure Designations 31-Mar-24
resources
£'000 £'000 £'000 £'000 £'000
Fundsdesignatedannually:
Multi-yearprojects 391 31 (107) - 315
Fixedassetsusedincharitableactivities 3,785 - (208) - 3,577
SpecialOpportunitiesfund 1,978 - (403) - 1,575
CapitalfundforBibleprovisionoverseas 1,100 - - - 1,100
(ProjectJireh)
_20,153 (20,245)

Revaluation General Pension Designated Restricted Endowment Fund
reserve fund reserve funds funds funds balances
2025 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Tangible fixedassets - - - 2,918 - - 2,918
Investments 558 9,334 - 447 - 12,339 22,678
Netcurrentassets - (1,111) - 2,964 2,391 32 4,276
Defined benefit pension scheme rese -
C fie titan Madeira
Subsidi
On
fa

Peer
URL ae
edo
Revaluation General Pension Designated Restricted Endowment Fund
reserve fund reserve funds funds funds balances
2024 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Tangible fixedassets - - - 3,182 - - 3,182
Investments 558 10,734 - 395 - 12,999 24,686
Netcurrentassets (2,401) - 2,990 2,247 29 2,865
Defined benefit pension scheme reserve - - - 3 - -