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|`TheTrusteesconsiderthatthe`|`unrestrictedreservesconsist`|
|---|---|
|`ofthefollowing:`||
|`Generalfund`|`£8.4million`|
|`Designatedfunds`|`£6.3million`|
|`TotalUnrestrictedFunds`|`£14.7million`|
|`Buttheyexclude:`||
|`Fixedassetsreserve`|`£3.4million`|
|`Capitalfund`|`£1.1million`|
|`TotalforReservesCalculation`|<br>`£10.2million`|



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## 

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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`|<br>`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 `|<br>`;`|`_`|`i`||`_`|`eres`|<br>`-`||
|`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`<br>`fo}`<br>`ot`<br>`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`<br>`Peat`<br>`eaidascahoa`<br>`Ria`||`106`<br>`FST`<br>`eee`||`112`<br> <br>`(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`<br>`China`<br>`MiddleEast`<br>`ProvidingBibleSocietypresenceinothercountries`|`OuP`<br>`u`|`p`|`So`<br>`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`|<br>`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`<br>`£70,000-£79,999`<br>`£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`<br>`Charge`|`(3,311)`<br>`(220)`||||`(3,932)`<br>`(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`<br>`Total`|`350`<br>`«6,349`|<br>|`136`<br>`4,540`|`aes`<br>`r`|`136`<br>`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`<br>`$`|<br>`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`<br>`fa`|<br>`Peer`|`URL`|`ae`|<br>`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`|`-`|`-`|






##