TRINrrARIAN BIBLE SOCIErY TRUSTEES, ANNUAL REPORT & FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Number (England and Wales): 233082 Charity Numller IScoU•nd): SC038379 TRINrrARIAN BIBLE SOCIErY TRUSTEES. ANNUAL REPORT AMD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Contents Page Report of the Trustees Independent Auditors. Report Consolidated Statement of Finanaal Acf1vit￿ 2024 Consolidated Balanc£ Sheet 2024 UK Balance Sheet 2024 Cons(Aidated Cash FI¢y•V Ststement 2024 Analysis between Branthes Notes to the Finanaal Statements 2024 1-13 14-17 18 19 20 21 2343 TRINThARIAN BIBLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their Annual Report and the audil8J Financial Statements of the Swety for the year ended 31 December 2024. Charlty Name and Number The full name of the Chartty is the Trinitarian Bible Society ITBS). It is registered in England as a charity (number 2330821 and as a cross•border tharity in Scottand (number SC0383791. Intemational Headquarters William Tyndale House 29 Deer Park Road London SW19 3NN UK Structure. Govemance, and Management The Trinitarian Bible Society is an unincorrM)rated association govemed by our Laws and Regulations and administered by our General Committee. A resolution is passed by Ihe mem￿rship at eath Annual General Meeting (usually in September) regarding the apwntmenl ofTrustees. NewTrustees may be appointed during the year by the existing Trustees. suc* appointments lo te reappcint&J for a fvll term by the &tietys membership at the next Annual G￿eral ￿￿ting. Following the pthlication of the Charity G0￿ManCe CLNk, the Twstees evalualed the Socie￿$ ￿rforManCe against each of the princAples of the CcKYe. They Identifi￿ and maintained practi¢*s where the Society meets a number of the outcomes in the Cc#Je. The General Commrttee has le￿ntlY ¢￿sider&I a report from Sociews solicf(ors Bates Wells Braithwaite on the subject of Coowate Stnjctures and Govemance. and it has agreed to utilise these insights to strwuthen th8 ￿s11￿j govemano struciure. These will be implemented during 2025. The SocieVs Inlemational Headquarters Is based in London, UK and the Society has overseas branches in Australia. Brazil. Canada. New Zealand. and the USA. These overseas branches are run by local Boards, but they operate under the general direction of t￿ General Commrftee of TBS London, who have the power to either appoint a major¢ty of, or exercise a veto over apKx)intsnents to. the Board of each branch. The accounts of the overseas branches are consolidaknj into these Finanual Statements in accordance wlh the provisions of Finanoal Re￿rtIng Slandard 102 IFRS 10218nd Statement of Re(#)mmended Practi￿ FRS 102 (SORP FRS 102). The Swety works in thse ¢x)operatK)n wrth. and receives significant fiJr¥Jing from, our sister organisation in The Netherlands, the Gereformeerde Bijbelstthting IGBSI. although there are Th) fomial constitutional links. TNstees and othgr Pgrsonnel of TBS London The Trustees of the Soaety who served for all of 2024. or up to ￿ date of this report We￿ as follry•YS". Pastor R. A. CLarke (Honordry Treasurer) Mr A. K. Jones Dr M. Keogh-8rown Ichairynan) The Rev. E. T. Ki￿and The Rev. J. l. Gracie The Rev. A. J. Lewis MrJ. Sayers The Rev. J. P. ThacITh￿Y (Vi*-Chairman) The Rev. W. Imn Pastor D. ca￿ar￿n New Trustees are sought from tim8 to time from the SccEtys m8mbership aThJ supporter b￿, ￿th a view to recruiting not only those who have suttable skills and exPerier￿. bul also who are wholly committed to the Socyety's constrtulional wsition. New Trustees are either interviewed by a sub-r￿mmittee which bring a recommendation to the General Committee regarding appointrnenL or by the whole General Committee. Th8 Trustees are not paid and receive no ajdibonal benefits beycnd what a wular member of the Society would r￿¥Ve. There are no Corporate Trustees. or Trustees who hold tiue to property on behalf of the Society (all property is hekj by a separate Lxsmpany Cal￿ the In(x)rrx)rated Trinitarian Bible Society Tnjst. on which eath Trustee of the Society is also a board member, and five Trustees of the Society are also directors}. New TRIN￿ARIAN BIBLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees are glven an induction. arKI ongoing training i8 prowded SU1￿ to their existing knOW￿ge and experience, and as needed acc￿ding lo changes in tho regulalory framework. The General Committee of the Society is formed of ¢JJr Trustees, plus the General Secretary (Mr J. Arnold) as an eX￿ClO n￿Mber. The Operab"ons Diredor (Mr P. Blows). the EdTtorial Director (Mr M. Voganl, and the Resources Director (Mr D. Broc¥nel also attend meebngs of the General Committee in an advisory role. The Swetys President and Vice-PresKlents are akn able to attend in an ex Offic￿ capacity, although do not vote. The General Committee meets len times pw annum and takes Strat9j￿ oversight of the Soryety, which, amongst other things, indudes approvbrKJ all sNJnffi(xnt new publications as well as the Annual Report, agreeing the correct position on drfficijlt translational points. overseeing and approving senior management appointments, setting and monitoriThJ the annual Gerwal Fund Budgetand Produdion Budget, and monitoring the Society's Strategic Rksk Register. The day-t(Hlay management of the Chanty and our staff is del￿ated to the Senior Management Team ISMT) comprised of the General Secretary (Mr J. Amokll, Operations Director (Mr P. Blows), the Editorial Direct (Mr M. Voganl and the Resources DI￿lor (Mr D. Brcome}. These four Directors. together with the General Committee. make up the Key Management Personnel. The remuneration of the So¢ietYs senior management posts was the subject of a detailed review by an indep*ndent consUlt￿t in 2016. when a fcfftial pay structure was established based on local govemmenl pay grddes and prinap￿. Advlsors Auditors Mi)ore Kingston Smith LLP 6th FI￿r 9 Appold Street London EC2A 2AP Investment Man er Walker Crips Stockbrokers Ltd Old Change House 128 Queen Victoria Street L￿10n EC4V 4BJ Solicitors Bales Wells Braithwaite 10 Queen Street PEa London EC4R 1 BE Bankers Arbuthnot Latham & Co Ltd Arbuthnot House 20 Finsbury Circus London EC2M 7EAA The Soclety's Oblect and Actfvitles The Sooety's Constituknon specrf*s that 'The ¢)biect of this &tiety is to pmmots th8 Glory of God and the salvation ofmen, by circulating, both athome and abroad, in d8wd8nce on the Divine blessing, the HOL Y SCRIPTURES. which are given byinspiration of God. and8re able lomake men ws8 unto salvation, through failh which is in ChristJesus'. The futhlment of this L￿re c&jective is Pursued through the Socie￿9 staled aims and in a(￿rdance h￿th the s0oe￿s prirriples, which have been uncharKJed for many years.. 1. To publish arKI distribute the Holy Suiptures throughwt the world in many languages. 2. To promote Bible transLgtionswhich 8reac￿￿te and trusts¥orthy. c(mfoming lo the Hebrew Masoret Text of Ihe Old Te5tsmenL and the Gr￿k Textus RecepbJs of the New Testamen( upon whith lexts the English Authorised Version is based. TRINrrARIAN BIBLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 3. To be in$trurr￿ntal in bringirvJ light and Irfe. through the GosFd of Chrisc to those who are lost in Sin and in th8 darkness of false relkjion unbelief. 4. To uphokl the doctrines of refC￿ed Christianity. bearing witrEss to Ihe equal and etemal dgity of God the Father. God the Son. and GcKt the Hdy Spiril: One ￿ in three Pet50ns. 5. To uphold the Bible as the inspirgJ, inerrant Word of G￿J. 6. For the Glory of (*J 8nd the InLYease of His lfjngdom through the circulation of Protestant or uncorrupted versions of the Word of Gcd. The SLKiety articulates its core objeclive publldy under fve sirnp￿ activities drawn from its stated aSms'. Translating, Publishing. Distributing. PromobrwJ, and Upho*Jing the Word of God. For the purposes of the SORP FRS 102 requirement to analyse and expenditure ac*oss 8Ctivities. the Swety has acwunts for arKI reports financially based on four he&Jings: TransL8ting the Scriptures. Publishing the Scriptures. Distributing the Scriptures, and Prorwting and Uphotrjing the Scriptures. The last tjvo aCtI￿tieS have been merged for this purpose. as tt would not be practically and rdiably possible to separate their costs. The Societys strategy is to maximise the distribution of the Scriptures land SC￿p1Ure portions) in the 38 languages in which we currently publish. seekn'ry to sell to those irKlividuals, churches, mission organisalions, etc., who can afft1￿ to pay. and granting to those who cannot. where wssible through reputsble Ihird-party organisations known to the SoC￿ty. However, there is currenuy either no Bib￿ at all, or no faithful edition. in the vast majority of lh8 world's 7,000+ languages, so there is very much more work to be done. Every new translation that is published directly fu￿lS the s￿ety's obiecbve lo a￿late the Word of God and make F)ossibfe the salVa￿n of the people who read IL u￿ler the application of the Holy Spirit. Of the most widely spoken langu￿eS of the wodd (Mandarin Chinese, English, Spanish, Hindi, Arabic. Bengali, Russian. Portuguese. Indonesian. Frenth, and Gemwi}. the &￿iety already publishès &riplure portions in nine and is s*knng to work in the other To this end. the Socxety works with many ojmpetent tranSlat￿S ar￿rtd the world who are translating the Holy Scriptures in accordan￿ with the Sociews prin￿p￿ usually from the original Biblical languageg directty into receptor languages, with a wew to increasing the nLAmb8r of languages in which &'bles and smaller Scripture pc￿lOnS may be arculated. Currenuy the Socw ig directly m*agiThJ or overseeing active tr￿slation, revision. or digtbsatK)n projects in 90 languages. Much of this work is done voluntsrily by translators all around the worfd, but significant costs were incurred on the Amharic. Chinese, French. arxl Hebrew projects, with these four projects alone accounting for almost 45% of the totsl expeThJiture on transL4tion and edi￿al expens8s, as shown within the Finanual Statements. In ad¢Jilion to the vdunteers invow in translation work. in three of the countries in which we operate (the UK. Canada, and the USA) the Society also has local auxiliary committees formed of volunteers who further the SrKietls work in theif local gec%3raphical areas. Volunteers also assist in several Branch off￿S, as well as in the Intemational Headquarters in Lond(￿. Public Bgnefrt and Impact The Trustees haj regard to guidan￿ published by the Charity Commission, induding that in relation to Public Benefit, and speTrfically 'The Advancanent of RelvJion for the Public Benefrt.. Trustees are required to ensure that.. 1) There is an identifiable benefft ry beneffts, aTrJ: al it is dear what the beneffts are" bl the benefits are relatwj to aims,. and cl the beneffts are balanced against detriment or hami. 21 The benefit is io the public or secli¢M of the publtc and: TRINrrARIAN BIBLE SOCIErY REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 DECEMBER 2024 al the benefiuaries are aprKopriate lo the aims.. and bl where benefft is lo a section of the publ￿ the opportunity io ￿nefft musl not be unreasonably r8stricted by gwraphical or other reslriclions. In order to satisfy Ihe Public Benefft tesL a charity's purpose 'musl be benefiaawthis must be in a way that i8 identrfiable and capable of being proved bY￿den￿ where rEcessary and which is not based on personal views. and it must 'benefft the public in gen￿al. or a suffvent section of the public-what is a 'sufficienl seth'on of the public" varies from purtKEe to purpose.. The 'Advancemenl of Reltqion, i8 recc¥JniwJ by the GUMIan￿ as one means by which Public Benefft can be provid8J. It stales that lo be char[tab￿. reltgion musl be advan¢xJ'. which is cleady consistent wth the Soaetls objective", this can indude the promotion of parbcuL4r tenets of the religion whith is also consistent with the Societys Constitution. The Guidan￿ provKles examples of praCti￿S Ihatadvance religion. sever81 of which tOLsch on the &tieWs aCti¥￿eS. tNJt one pa￿cUlartY appl￿. namely 'promoting the study of religious teachings and praLlios and ￿￿pI￿re$,. The Soryety provides Public Benefft by delivering OUT obiectsves and ca￿￿ng out the actsv[t￿s referr&1 to in this Annual Rep)rt. The translation and publication of the Holy Scriptures provides for circulation in actordanc£ wth the So￿et￿$ objective both in the UK and overseas, bringing primarily spiritual benefits but also moral, ethical, aThJ practical ones. These beneffts are avai¢abSe to millKsns throughout the worfd who can read the Scriptures in a laThJuage in whrch the Society publishes them. For many, reading the Scriptures wtll have elemal benefit through the salvalion of their souls. whth is an immeasurably greater benefit than anylhing that can be given in this wodd. Given the nature of the benefft prowd&J by our work arKI the faL* Ihat many. ind*J mst, ol the recIp￿￿ts of the SocAetls Scriptures are unknown to us. it is often V￿ drfficutt to measure the impact of our activities in the traditional quantitative or qualitative measures uwj by many Charities. However. we c2n measure certain e￿ments of the impact by the many and varied expressions of thankfulness that we receive. sometimes telling of a person who has teen saved throuth reading Scriptures sent by the SocAety-many of these communications are pUblish￿j on the Socaews website, in our m￿azine the Quarterfy Reconl, email newslettw SupporterNews. and on the Swetys Social media pages. However. only elemity aThJ the day ofjudgment will reveal the true benefft arml impact of the S￿e￿s wor hlgvemgnts and Pgrfomiance Operntlons The distribution perforrnan￿ of the ￿lety is measurgj arbj asse5s&J in varh)us ways. some quantiEative and SO￿ qualitsbve. Overall, we aim to: maximise the urtsJlakn"on of the Holy Scriptures in many18nguages' achieve extensive global reach thrO￿h our dkstribution". build strorg relationships with our pathers and grantees to ensure that items granted or hewly discounted are put to g¢)od use" undertake speaal distribution proieds where a particular neoJ has Eeen identified. Through the Lord's mercy. 2024 was another pr￿JuctIve suc￿SS￿l year for fijlfflling the Societys distribution aims. with a 10% increase in the total number of items C1￿181ed eompared with 2023. Overall. 424,746 more cOp￿S of the Scriptures (Bibles. New Teslaments. and Porbonsl were Lxrojlaled in 2024 than In 2023. This increase comprised swJnificandy more Gospels and New Testaments than in 2023, bul fewer Bibles-a result of demand for newer tr8nslatN)ns. in which Ihe Scoety has published a Gospel for the first time, but where we do not yet have a corn￿ete Bibte. Our prayer is that the Holy Spirit would abundantly bless these ccyies of the Word of GTrY. to the salvabon of His own people and for the glory of His name. Grants.. During 2024. 1.999.175 {2023.. 1.191.888) Bib￿5 and Scripture portions, 353,049 (2023.. 404.2931 calendars, and 12.4LK)12023: 29.928) children's items. artide5. and other Scripiure items were supplied free of charge to institutions and indiwduals induding churches. missions, prisons, and schools. The prtyjuction cost of thes8 items was £476,957 compar&X with £573,655 in 2023. We o)ntinue to scrutinise and sc TRIN￿ARIAN BIBLE SOCIETY REPORT OF THE TRUSTEES FOR THE YE4R ENDED 31 DECEMBER 2024 every grante8 application to ensure that. as frdr as is practir*Jle, grants of Bibles, Scripture portions, and other ￿$ are distributed throLb3h thanr*ls which ￿11, on the who￿. be ac(2ptable to our supporters. Sales.. We ￿)ntinued lo pursue our goal of distributing Hoty Scriptures by way of sales wi 2024. often at heavily discounted pri￿. Inde￿. the vast majonty of the Bibles purcha*J from us wll ultimately be gNen away free of charge. The total number of items sokl worldwth in 2024 was 1,244,729<2023.. 1.640,851}, ofwhich 188,60012023.. 583.141 } were under rordlty. Ofthetotal, 896.128 (2023.. 1,278,669) were Bibles or Scripture portions, 202,4￿ 12023: 236,783) were I￿￿dar$, and 146.111 {2023: 125.399} were children's ttems, artides aThJ other Scripture items. Totsl Sates income in the year was £1.420,82712023.. £1,648,024); the prcxjuclion cost of these items was £￿8,193l2O23'. £1.073.734}, and there was additional royaltylli￿nsln9 income of £27,73712023: £61.052). In 2024 the Society was pleased to receive again the Feefo Platinum servi￿ award for its sales w￿rk. This award s gwen to buwresses that have achieved the Gold standard for three (onseculive years or more.. the Feefo Gold Serv1￿ award is 'an independent seal of exc8llenc8 that r￿niseS businesses for delNering exC￿￿n￿ experien￿. as rated by real customers. The breakdown of distribution according to Grants arKI Sales was 66% Grants12023: 50%) and 34% Sales 12023.. 50%). When c4r(yJlatK)n via licensing is eXdvd￿, the numberof Scriptures and Scrtplure rtems phYs￿l1Y circulated by the SOc￿ty was 27% higher than in 21r23 and 35% higher than in 2022 12024.. 3,420,753; 2023.. 2,683,819., 2022.. 2,526,147). The number of Scriptures (BIb￿s. kn Testaments, and Porhons) physically circulated by the Society excluding li￿sIng was 43% higher than in 2023 antJ 68% higher than in 2022 (2024.. 2,706,703.. 2023.. 1,889,439: 2022: 1.608.272). It is encouraging to ￿ this conb"nuing trend, since the Scriptures themselves are the highest priority items whth the s￿ety circulates, and cArculation exduding licensing 15 typtcally volatile year to year. As fortr* items circu￿ted under licEnce, they made up 5% of the total12023: 18%). (For infOmatic￿ on the use of the TBS Online Bible. see the Editorial section telowl. As an intemallonal Organisat￿n we seek to distribute Suiptures to as many nations as p0s￿bIe, as peT our motto, The Word of Grxl among all nations.. In 2024 we distributed Scriptures in 39 languages to 97 ountries12023'. 38 languages to 111 countries). The sales arbj grants process&Y throughout Ihe year were numerous and dNetse, and as with previous yea￿. many of the 2,364.624 {2023: 1,626,109) Bibles. Scripture poit'ons. or SL¥iPture items that were granted were given to prisoners. schLK)I children, missionaries. and churches'at home aThJ abroad.. to borrow wording from our constitub.onal Aim. Pro￿SSIng arbd shipping costs are pr(wttsnally IINer when grdnting Scriptures in a sma118r nUm￿r of large orders comp8red to a ￿rge number of small orders. Therefore, we seek to optimise the value of our grants budgets by supplwng a good number of large grants lo grantees who are well known to u$. Some of the large grdnts lover £2,500 value) awarded during 2024 were as follows.. 6,000 Ndebele Bibles to ￿mbabWe 4.000 Nde￿Ie Bibles to ￿rnbabVth￿ lin addibcffi to Ihe pr8vious line) 2.800 Chichewa Bibtes and 500 English Bib￿ to Zambia 3,000 English Bibl8S to Botswana 1,484 English Bibles to Nigeria 1,008 Portuguese Bibles to ArvJola 1.000 Arabic Bibles lo Sudan 1.000 English Bibles to Kenya 500 English Bibles to Kenya (in additK)n to the prewous line) 692 English Bibles to Ghana 544 English Bibles to Ghana (in addit￿￿ to the prewus line) 500 Russian Bibles lo knenia 500 Spanish Bibles arKI 25 Hebrew and Greek Bibles to an island 500 Spanish Bib￿$ to South Amer 500 Spanish Bib￿$ to Spain 500 English Bibles to lowa flcx)d victrns. Unilgj States of Ameri 2,876 Portuguese Bibles and 395 Portuguese New Testaments lo Angola 1.216 English Bibles and 400 Gospels acurding to John to a UK Prison Ministy TRINITARbAN BIBLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 1.000 English Bibles and 4.500 Chichewa New Teslamenls lo Malawi 500 English Bibles and 1.200 Chichewa New Teslamenls lo Zambia 5,032 Amharic New Testsmenls and Psalms to Ethiopia 2,000 Chichewa New Testaments to Malawi 1,500 Ukrainian New Teslamenls to Northern Ireland (for Ukrainian reftjgeesl 1,000 Ukrainian New Testaments lo Germany 500 Amharic New Testaments and Psalms to Ethiopia As a Christlan Society with a core emphasis on the Holy Scriptures, we believe that il is a great public benefit to present the Holy Word ofGod freely lo members of the public. To this end, we have for many years operated a campaign whereby we coordinate the display of large Scripture posters in public places throughout the UK. most le￿n11Y in bus shelters. In 2024, we refreshed our poster designs, adding a QR Code lo allow passers• by lo scan and continue reading the Word of God via the TBS Online BibSe. In 2024, 9812023.. 571 individual bookings were made for our 2025 campaign, through funding provided by 38 sponsors12023.' 251. We continue to share reports of Scripture distribution with our supporters via our Qu8rterfy RecorLI magazine, email newsletters, our website, on social media, and in deputstion meetings. to promote greater engagement and Connection with the work of the Society. In March 2024, the doors of the Society were opened lo the public to highlight our work in Bible translation and dislribulion. We were pleased to welcome many local Christians lo our head Offi￿ at William Tyndale House,. as well as viewing various displays. visitors participated in a tour of the building and attended presentations from staff on aspects of the Society's work. There were also several activities for children lo participate in. In November 2024 we held Inspiration and Text conferences, where the vital doctrine of the inspiration of the Holy Scriptures was explored, as part of the Society's Promotin9 and Upholding work. Two main conferences were held, in London arKJ Lisbum, Northern Ireland, supplemented by two meetings targeted specifically at young people, in Belfast, Northem Ireland and Inverness, Swtland. The sessions were recorded and released online for those who were nol able lo be present. We were also pleased to onrE more welcome many of our members and supporters to our AGM in September 2024. As well as having an inlemational focus lo our work, the so￿ety also encourages the circulation of the Scriptures and promotion of the Society's principles al a local level. The Society's regional Auxiliaries, active in the UK, USA, and Canada, contribute significantly to this more locally orienlaled work. In 2024 the UK Auxiliaries were responsible for circulating 25,121 12023.. 24,9951 Scriptures and Scripture items through grants lo prisons, sch(x)Is, hospitals, and care homes. 13,29912023.. 18,3411 of these publications were Bibles and 93012023.. 8981 were New Testaments. We record our thankfulness lo the many Auxiliary Committ members who give their time to pursue the Society's Aim in their local regions. Editorial During 2024 the Society published several new editions of the Scriptures, alongside new settings and reprints. Printed editions included the Gospel according lo John in Hindi. Greek. and Kikamba la significant language spoken in Kenya). The Gospel according lo John with the Epistle to the Romans was published in Slovak. 11 was also possible to publish the Gospel according to John in three Nepali languages in which we understand no literature exists.. Desauri Tharu, Paschimi Kham, and Thalli Mailhili. This highlights the developing work of the Society particularly in the Indian subconlinenl. These print publications are part of our ongoing mission to make the Scriptures more widely available as the Society seeks to distribute faithful Bible translations both in the United Kingdom and nations throughout the world. We also made more languages available digitally during 2024.. Arabic., Desauri Tharu,. Kikamba,. Mauritian Creole,. Slovak.. Tagalog,. Thaiti Mailhili., Hindi,. Modern Greek,. Tedim Zomi., German,. Boro., and Modern Hebrew. In total this amounted lo 36 languages available online by the end of 2024. This has generated further interest as people become more aware of tbsonlinebible.com and the digital text made available through our own or third party apps. Online Scriptures have particular benefits when rt is not possib￿ lo obtsin prinlaj copies or when an app is more convenient. Here are some interesting slalislics which represent a very significant increase on prewous years.. Total number of visits lo the Online Bible App- 365.5k Total number of unique visits lo the TBS Spanish Seripture website- 33.9k TRINITARIAN BIBLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Total number of unique uws of our other apt6 (mainly for ts Pcrftuguese Bible in Brazill- 34.6m In 2024 the Society continued to I￿￿ta signifL¥nt proFMThn of reg)urces in the preparatK)n of new or reviwl translations of the Scriptures. With major or¥JoirrfJ eX￿ndItUre for Bible projects in Chinese, French, and Hebrew. We continued to add new transtatiC￿ projects. inclLMling Japanese, Khawngtu Chin, Manobo, and Goan Konkani. God wlling. within the next two years (202￿2026) cOmp￿te Bib￿ wll be published in Chichewa. Zou, and Vaiphei,. New Testaments in DanlGio. Hebrew, Kom. and Ka￿n11n,. and Gospels in 8 number of European, African. and Asian languages, t¢>Jether with wpporting artides in most of these languages. The number of Bible translation projects has continued to increase. arKI as a Consequen￿ there are additional d)allenges to manage. Some pilot projects suth as Tamil. Pa5chimi Kham. arKI Khawngtu Chin also proJressed to becom8 New Testament projects. The Soc4ely mainL8ined our ffnnly hekl constltuti￿aI commitment lo the English Authorised (Ffjng James) Version in 2024 by producing the Hampton Text Bibte (vA)ic* arrived in stock earty in 20251. This new setting contains the definitsons of thousands of words, mthThJ it of parbojlar use to thiklren and young pw)le, and il is hoped that many will be dislribute(I to schwls. We have also Continu￿ to pn)vide material for children with a quartedy pamphlet Call￿ the Young Supporter to ￿1MpanY the Society's magazi￿, and have continued to devek)p new educational b￿)klets for chikjren for use in schools and churthes. We have produced web articles le.g. tbsbibles.orgMhyThoAV) and articles in other publicabons aimed at children and ￿￿ng We also produc£ a quiz based on an article for children, in 2024 it was aboLrt Robert MoThison. Our Editorial Department ￿MpriseS of highlythlled staff based in different parts of the world. Our srrial media presence continues to promote our work to r83ular Sup&￿r5 and beyond. As mentioned eartier Ipage 6), w8 were able to organise two well-attended conferenos in Ihe Untted lQngdom during 2024, promoting the translation work of the Society and particularfy uphokJir¥J thg prinuples on whid) rls work is ionducted. During 2024 we c4)ntinu&l the 'Supporter NewE' emaib to be uwj by our branthes across the wort(J (in addition lo the UK). providing our supporters wilh artides, regular news, arKI utxjates on the Swetys work. We also contin￿d 8 newsletterfor Christian n*dia. sit alongside our Qu8rtertyRecord magazine which provides in-depth information aLK)ut our work. In 2024 we have also been ab￿ to incTease the number of short wdeos available ab(MJt our work. The Department continues to prCMyu￿ Ca￿ndals. during 2024 Words of Lrf& ￿lendarS in thirteen drfferent languages and Golden Th0￿h15 calendars in ten langu￿e$ were published in hundrgjs of thousands of copies. Our diary cfffitinu8s to be published tc¥Jether with greetings cards. b￿kMarks, posters. and Iracts. The Editorial System deVel¢￿d by the helps to sustain heavy wothload wrth greater efficrency. Further automat￿ checks have been developed to allthv for robust analysis of a translation On￿ manual proofteading has been completed. This system is already being implemented for all new p￿lectS, as well as several historic translatron propcts. as diJitisation of existing translat￿n$ allows for further quality control. Translations are accessible online. which means that they be widely revtesyed by speakers of the resp￿tiVe L8nguage. and a proof website helps with the revw of tranSla￿nS. Translators are also able lo access the Biblical languages and other Iransklions to enab￿ them to review their work. Our Editorial System pro￿$$ has enabl￿1 us to vasmy imFffove the timings for the final stages of Bib18 translatlon and revis￿￿ projects, and also improve the d￿lt31 ch￿$ on the work. We also (xinb'nue lo develop our systems for the publution of the S￿ptUres online (through our website) as well as other e-publications-. and the Editorial System is set to augment ￿Jr abilty to publish e*tronic Scriptures in the flrture. With thL8 system, we 8150 continue to cultivate rthv ways to assist in ty[￿etting process. The Editorial Deparbnent has a rolling fve-year plan for forthcoming publications. There are 90 languages where we have a definite project in which some progress has been made over the last tsyelve months in tem of preparation or publication {both digitsl and in print) of Holy Scriptures. We are carrying out research or gniing consultancy advi￿. andlor exploring the possibility of doiThJ some {further} work in a further 54 languages. There arg 318nguages in wh￿h we have stalled projects, yet some prosk*Ct of further progress. There are TRINITARIAN BIBLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 also 4 languages in which initbal work or research has come to a premature end lat least the presentl. F¢ these projects we await the Lryd's provision of suitabty qualffied personnel. Considerable reSoU￿S are ￿Ing expended lo ensure that Bible translation and revision teams are workityj according lo our principfes. Each translation or rewsion is scwtini*J in￿SiVely before being approved for publication,. thg Societys Senior Edttorial Consuttant {Linguisticsl is emplowl ￿marilY to assess the Scriptures submitted for publication or ewdluab"on. Using standard analytical tools. translation analyses, and textual examinations, the s￿Iety makes a detailed evaluation of eath ￿pIor L4nguage Scripture text to ensure Conforman￿ to the Greek Receiv&J Texl Of￿ New Testamènt and the Hebrew Masoretic Text of the Old Testsment. Any non-Conforman￿5 f(yJnd must k recknfied ￿fOre the Editorial Deparbnent can make recommendation lo our General Committee to publk8h Ihe translation. These rigorous systems help ensure that we fulfil our aim 'to promote Bible transktions which are acojrate and tnjstsvorthy. (y)nfomiing to the Hebrew Masoretic Text ofthe Old TestamenL and the Greek Textus Re￿pIuS ofthe New Teslamenl,. The preparation arKI publication of faithful edttions of the Holy Scriptures are iwo of the s￿ety$ key goals. The printing in 2024 of many ¢knpels. for example. further&J our aim lo publish and distribute the Hoty Scriptures throL¥JhoLrt the world in many languages.. lrt addtbon to printed Scriptures, the publication of electronic Scriptures in 2024 (and those imminenvy due for release) is an Imp￿￿nt distribution avenue Ihat will grea￿Y enhan￿ our abilty lo fulfll our original primary purpose- lo promote the Glory of God and the safvalion of men. by circulating. LK)th at FKJme aThJ abroad, in deperx1en￿ on the Dimne blessing. the Holy Scriptures, which are given by inspiration of GCMJ. and are able to make men wise unto salvation, through faith which is in Christ Jesus.. Slgnlficant Evonts On the %thole 2024 was a relativdy quEt Far of LX)nsolidation for the Swety there V•Ere no reportable Significant Events. Fundraising The Society belEves that our funding comeg from Almighty lknl, thnxjgh the instrumentality of our many generous members and supporters, and as such we do not ery8ge in activ￿eS which are traditionally knowft as 'fundraising' such as campaigns, door-tTrdwr. mailshots. str*t ￿1￿CtionS, etc. The Society does, from time to lime. allude to our financA81 needs on our website, in our magazine Ilhe Quart8fy Recordl, in our newsletters, and at public meeb.ngs land coll￿tionS are taken at such meetsngsl, but beyond that there are no swific fundrai￿ng adiv'ities. The SorAety not work with any third-paty companies etther to raise fvnds on our behalf or to monitor furKlraising aCti￿lEs. Thère were no fundraising complaints in 2024. ￿th0￿h the SocAety is not required to comply with the Fundraising Code. we have previously voluntarily undertaken review of our wmpliance with Ihe CcKle, wlth the assistance of our cx)nsuhants CleaTComm. Revlew of Financgs The soc￿8 Total Funds ￿luCa￿ by £636.435 during 2024. Aftergains arKI l(tsses caused by movements in foreign exchange rale5 are reMoV￿J, the Net Expenditure for the year was £474.752. This figure is the accumulatiorb of a deficit from TBS London of £703,657 and a net surplus from the SO￿ety's five Branches totslling £228,905., the reasons are explained in the following paraJraphs. The 2024 worfdwide income was £4.340.877. down 26.4% £5,894,899 in 2023. This overall reduction was signtficandy drSven by three main factors: Donations a￿1 Legacies were dry•m by £1.376.364 (34.6%) to £2,597,027. This was mainly due to.. A £1.388.594186.7%1 rgjuction in Legaaes to £213.625.18rgdy as a result of a single legacy in 2023 of £1.35m. whereas 2024 is Se￿nd I¢y•vest in the past 20 yeats: A £313.743166.9%} rgjuction in Partnw Funding to £155.533. dueto 8 combination of factors, including which projects were exiemally fvnd&Y during the year. the timing of ftjnding on those projects, arKI how much fvnding was gNen" offset by TRINITARIAN BIBLE SOCIErY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 A £336,877 {23.6%) irKxease in Donations to £1.765.385, of which aboLrt h¥0 third$ occurr& in Canada arnl the remainirwJ third was roughty equally split belween London and USA. Incom8 from Charitable Acbvibes-DBtribulion of Scriptures (Sales and Royaltie81 fell by £260,512 {15.2Yol lo £1.448.564. this arose in the UK. with the five branches showing an overall i￿reaSe in Sales of £29.159. As suggested in the last Annual Report, the simiL9r rise in UK Sales in 2023 proved to be largely a timing issue. with some large orders fuffilled right at the erKI of that year. Causing a corresporKling redU¢bL￿ in Sales in 2￿4. Investrment income rose by £74,692 (36%) to £282.124. due lo higher cash depM)sits arbj use of a nv Charity ooposit Platfonn in the UK Worldwide operating exp￿ilu￿ in 2024 was £4,744,612. dthvn £319.961 {6.3%} compar&l wrth 2023. Th increase was largely drsven by: The cost of TranslatiThJ the Scriptures was drmn by £234.252120.8%110 £889,782, principally due to the completion of the Spanish Bib￿ {£*.0521 and the near-completion of the Hobrew New Testament1£39.875), combined with a redudion 1£98.3251 to a more usual level following a 2023 spiko in the ¢))sls of ￿ numerous of translatL)n and revi￿0￿ projects. The co$tof Publishing the Scriptures li.e. the stage betsyeen c(ffnpietion of the translation and it being available lo distn"bute) rose by £27.028122.7%110 £146.C61 as the Society has published many translations in 2024 {see EditL¥ial section prewously). The direct and indired Costs of Sales were down by £40,242 (2.1%) tr) £1,883.922 dug to the reduction in sa￿$. tNJt still signifK8nty offset by the rapid inflatKJn in the cost of prOdU￿ng Scriptures In recent years. The direct and indirect Costs of Grants were down by £141.414 {18%} 10 £643,605. The previous ye8r120231 was a particulady high point in the eost of Grants due lo the publication of several signrficanl new L￿guageS}edit1OnS {there was a 48% increase over 2022}, so in 2024 we reduced lo a figure still well above the rewt avwage, reflecting the growth in the work of the Soiiety. The cost of Displaying the Scripttires Publty rose by £17,811 {30.9%1 to £75,473 due to irveased activity in the UK (Bus Poster Scheme) and in Canada. The o)st of Distribution Centres has risen by £10,183 (12.7Y•) lo £￿.676 as the work of our Distribution Centres in 80livia, Colombia arKI Ethiopia grew during the year. The cost of Promotir¥J & Uphokling the knptur8s was up by £42,829 {4.5%1 to £989.032 as the Sm increased these ac11vit￿. particularly in Latrn America in o)nnecbon with the new Spanish 'ble and in the Uli The Soaety's Nel Current Assets have deueased by £559,56816.7%1 to £7,778.698 at 31 December 2024. Within this, the liquidity SI￿atiOn remains healthy. with ￿sh balan￿ {induding deposits maturing withln 3 months) of £2.589,626 and cash on depostt totalling £3,257.967. a total of £5.847,593 at the year-end. The Society's UK operation held Fix&J Axet Investrnents of £1.463.775 at 31 December 2024. down frc*n £1,524,733 in 2023, this is largely the resu￿ tsfst￿￿ market movements over 2024. The freehold prope￿eS of the Swety (wjduding the International Headquarters in London) are ststed at the book cost of £2,474.325 at 31 December 202412023.. £2,523.0741. The leasehold prOpert￿S of the Society are slal8J 81 the book value of £266,592 {2￿23.. £273,833). The Trustees are of the opinion that the open market value is in excess of the bcK)k value expressed in local ￿[renUeS. The Trustees are very thankful to God for Ihe remarkable prowsion He has made for this work during 2024, which has enabled the Society to meet our objectives, Parts￿lIadY the progress of translation work and Scripture granting in many dtfferent languages. aswell as maintaining the more routine actimties of the Society. TRINITARIAN BIBLE SOCIErY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ReseNo5 The Society's UK General Reserves Policywas originalty drafted in 2016 in the IpJht ofthe Charity Commlssion guidan￿. and simplffi&J and strengthened during 2019 and 2020 as part of our new Financial Strategy.. Free Reserves is defined as Genernl Fund Npt CuffentAss8ts less Stock. The Baseline for delemiination of the ￿ for Free Resems would be Genernl Fund Total Exp8ndilure less t￿pre￿at￿)n. Free Reserves should be at least equivaknt to fcAJr months. expendrbjre as defined by the Baseline figure. This is a rea￿able exrxession of pruden￿ whilst also acknowledging the Soryety's dependen￿ u￿n Gcxl. Where Fre8 Reservesfall bèbw this level aim is to restore them over a ffive-year re￿Very period. At 31 De￿mber 2024 UK Fr￿ Reseffts {i.e. Unrestrrcted Funds lesg Tangible Frxed Assets less Stock & Work in Progress) were £2,713,625 ￿ainSt a requirement of £1,206,295 li.e. 41121hs of 2024 UK UnrestriC￿j Funds Expenditure less Depreaationl. g￿ing a surplus of £1.507,300. In accordanc4 with the Socievs Financial Strategy, the use of It￿ funds is planned with the 5 Year Financial Plan 202>29 whilst always maintaining a Balan￿1 Budget (defined as when the Free Reserves are mainlained al a level al least equivalent to four monlhs. expe￿litUTe in eath indivKlual year of the 5 Year FinancAal Plan}. Restrlcted Funds and Designated Funds The Society has a significant number of Restrthd Funds whith have been gNen by ijonors and sponsors f specific purposes. The purposes of these funds and the movements on them are shown in Notes I l and 12 of the Finanual Statements. The Soci8ty also has a number of t)eswJnated Funds, which are so designat&J for use on speufic projects by TBS {Canada} li.e. fr(Kn their own General FUNJ) when they send those funds to London, in order to ensure Complian￿ wtLh Canadian lax rg3ula￿n$. Invo$tmont Policy There are ￿0 rnain strands to the SocAeWs invesknents, relating to the endowed Goklen Thoughts Calendar Fund {GTC Fund) and to the GeneraVRestricted Funds ofthe Society respectNely. The Swety has no social or programme-related investments. The SocEtys Investsment Policy Statement was approvay in 2019. In relation to the Golden T￿ughts Calendar Fund (GTC), the Trustees, poI￿Y is to maximise income whilst preserving the real value of the endowed investments. The investrnent aim for the equity part of the GTC Fund F)Ortfolio is to a¢h￿ve capital growth at ￿$t in line with the CPI over five to seven years, with a 4% 10 5% income target. TheTTUStees' 8th1￿1 investrnenl policy is to avoKI those major actNiknes whith include gambling, alcohol, tobatxo. and leisure. aThJ also (￿Mpan￿ which openEy adv(￿ actiwtie5 which are contrary to the Bible. In re18tlon to GeneraVRestricted Funds rash invests))ents, the policy is to Invest in cash with a wew to maximising the interest eamed cOmm￿SUrate with hawng the fvnds availabk shouk1 Ihey be required. but there is investrnent target per se. Going Concem Basls for Financial Statements The Trustees are well aware of their reSp￿$bIlty to be satisfied that the Swety is a going concern, given that the Finanaal Statements are prepared on thi5 assumption. To this end, various scenarios have been tested based on 2024 expenditure levels and the 31 D￿mber 2024 Balan￿ Sheel position. This s¢*narKJ testing shows that the Soryety has suffiryent General Fund reserves for at least 12 months following the approval of these Finan￿al Statements. even rf income fell to Ivorst Case ￿nario. levels. Consideration has been given to the effect of inflation and supplychain limilations caused bythe war in Ukraine. tariffs particularly affecting the Scripture prcKlucknn ojsts. as wdl as falling interest rates, and the totential for income to f811. 10 TRINITARIAN BIBLE SOCIErY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Through Gcxl's wse superintending prowdenr8, the Soaety's Balan￿ Sh*t conbnues lo ￿ in a sustainable pla￿, with solid cash balan￿$ both in the UK and the Brdnches. At the eThl of 2024, the SocieWs worldwide Cash, Cash Investments (maturity in than 1 year), and Debtors were over 22 times larger than its Creditors. The worst-case S￿na￿oS considered above Iwk very unlikely to malewi81ise. but, even rflhey did. the Trustees would take the ￿e￿sary mitigating action to rebalan￿ the ffinan￿aF position. This would be achieved thrO￿h the Sooetys annual budget setting proc￿ arKI 5 Year FinancAal Plan, the latest version of which (Financial Plan 202&20291 was approv&Y wth the 2025 Budget in October 2024. This Plan seeks lo ensure (under God) that available funds are used, whilst ah¥ays maintaining a Balan￿ Budget {defin&J as when the Free Reserves are maintained at a level at18ast quNalenl to four months. expenditure in each indivijual year of the 5 Year Financial Plan). The Trustees have faith tt￿ Qlyj wll ￿ntin￿ to wowde for the Sc#iety, as He has done In m8inlainlng the w(Kk for the past 194 years. 11 is obviwsly very drfficult anyone lo predict what might happen to workl economies in the loTrJer tem) and the effect that this might have on the Soc￿￿$ income. However. we do know that the Swety has a very Iordl supp(xter and membership base, funding agreements or commitments from sponsor5 for key prwts. and Sa￿ ha￿ romained substsntially consistent over the yeatE. Other Princlpal Rlsks The Trustees review aThJ utNJate elements of the S(xWs Strategic Risk R￿iSter at each meeting of the General Committee to ensure that all the Mlen1rf￿d risks are managed effectively. The Society 0￿rateS a 'traffic lighy risk rating system based on an Impact score of 1-5, muttiplied by a Likelihood swre of 1-5. There are currently no risks in Category 4 {Redl, onty tsvo in Category 3 (Amber), whereas there are 11 in Category 2 {Orangel and 17 in Category 1 (Greenl,. aThY none in any category wth a Likelihood s(x)re of more than 3. The risks currently receMrvJ the most attention from the Generdl C(xnmittee are.. The Sociglys physical and intangible assets S￿ not being used economically, efficNenYy, and effecfyv81y, or are not securn-This risk i8 grven part￿lar attention, not because the Trustees are aware of particular risks that have not been a(klressed. but tr￿aUSe they take their responsibili￿$ for data protection and cW)er seoJFity very seriously. arKI recognise that there is aNvays room for improvement Senk)r Management intend lo review and update dala protscbon and cyber security procedures and documentab.on over the ¢))ming months. That slaff or Visito￿ aTr in danger because ofHealth and Safety Issues-This rtsk is given partwlar attention, not beLxuse the Trustee5 are aware of parbcuL4r rtsks that have not been addressed, but because they take their Tesponsibilrbes for Hea￿h and Safety very seriously and re(>Jgnise that there is always room for improvement of dooJmentation. Senior Manasemenl intend to out 8 further review of health and safety prcx%dures arKI (knc#Jmentation over the o)ming months. Plans for the Future and Strategic Roview Secli¢)n Phases 1 and 2 of the knietys Strategtc Review were cL)nduded in 2021. An overview of the Five-year Strategic Plan has now been shared wth the sC￿￿s members an(J supporters through the QuartertyRecord. Phase 3, induding a review of the SoCie￿s Corporale Structures, G0veman￿. arbd Constitutional Implications, has been complelal. The Commitiee carefulty ￿nsidered various options for the struthre and decided to proceed wtth the most effective approach, which they agreed to te the current structure in the UK as an unincorForated assoclabon registered as a Charity. albeit wtth some improvements within the slrvcture to be finalised and impkmented. The Swety is also implementing a staffing strategy that will indude assessment of the increasing demands on the SoLyety. takes al￿oUnt of recent retir￿ and those who have reduced their working hours. It is anticipated that this will ensure the Society has the capacity to carry out its ￿re work. The ongolng implementation of the StrabJic Han will continue to bring gradu81 changes {rather than any revolutionary approach) to the way that the Society operates arMI delivers its Conststubonal Aims. bul with no change lo the principles that the Society has held to Sin￿ its fomiation in 1831. 11 seeks to pla￿ front and nlre the distribution of Scripture that was key lo the ft￿ndIr0 of the Society. and to ensure the Socievs resources are managed in the best way to faclslate this. TRIN￿ARIAN BIBLE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 There are a numtEr of new translation being bro￿aht to pUbl￿tion at this time. The completion of these projects are substantial mi￿s1Or￿S folkmiing deC￿leS lin some proieclsl of work by translators. This has the result of signfficantly inc¥easing the numter of Lgnguages the Soryety publishes in. There are acute needs in Africa, India, and Latin Americs for grants of Scripture. Likewise, the ScKiety has been able IhTough its UK Auxiliaries to distribute Bibles to many schLK)Ls. prisons. care homes and the militsry auoss the UK. The SC(￿ has also been developiry rts dk%tribubon centres in Colombia and Ethiopkg to assist as hubs for the circulation of Scripture, as V•pII as maintaining and t￿lIding on SUpP￿t in those r￿J10n$. The Society has an in(xeased pipeline of proFcts as tranSlat￿S with the requisite ability and commitment are made known lo us in Gc¥J's promdence. These will be progreswl in a vrdy ￿nSiStent with the Societys financial means, and with support being prov¥Jed alongside local denominations or through missionary organisations. In each (Xse. a pilot is to be cThipleted before a full Bible project is undertaken. Concluslon TheTrustees are extremetythankful to G¢JJ forall that has been athieved in the last year arKI for His C¥)ntinU￿£ prowsion for the Swety. There may LE signtficant finanaal and Icoistical challenges due trj rising costs. btrt we look forward in faith, stsnding ready to take any necessary MeasL￿e$ that may prove necessary, under God's providence, to keep the s(￿ finanually sustsinable fr)r the long term. 12 ThIN￿ARIAN BIBLE SOCIErY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 statement of Tnjstees, Responsibilities The Tnjslees are responsible for prepariThJ the Annual Report and Finan¢ial Statements in accordance with appIl￿ble law and regulations. The Trustees are required lo prepare Financial Statements for each finanaal year in a(￿rdance with Unite ngdom Generally Accepted Accounting Pracbce {unit￿j ￿ngdoM A¢xounting Standards and applicable law}. The Finanual Statements are required by law to gNe a Inje and fair view of the state of affairs of the Charity and Ihe Group, and of the incoming resources and the application of resourc8s of the Group for that period. In preparing these FinancAal Statements, the Trustees should follow best practice and.. select suitable accounting wlicbes and then apply them (£￿siSten￿y. ctserve the meth¢JJs and principks in the Chariti8s SORP; make judgrnents and estimates that are reasonab￿ and prudènt aThJ prepare the Financial Statements on the going cl)n￿M bagig unlèsg it is iwpropriate Io assume that th8 Charty will continue its op￿ations. The Trustees are responsible for keepir¥J Fryer a￿Unting reu)rds that di￿Se with reasonable accuracy at any time the financial posItic￿ of the Charity and lo enable them to ensure that the Financi81 Statements comply with the applicabk law and the Laws and Regulations of the &aety. They are a￿0 responsible for safegua￿Ing the assets of the Charity, and fortaking reasonable steps for the prevention and deleclic of fraud aThJ other irregularit￿. Tr Trustees are responsible for lh8 maintenance aThJ inlegrity of the corporate and finan￿al infom)alion induded on the CharrVs *Ebsite. Legislation in the United K¢ngdom goveming the preparation aTrJ disseminati￿ of Financial Statements may drffer from legislation in other jurisdictions. ON BEHALF OF THE TRUSTEES M. KeOgh-B￿wn. Chainnan 16 June 2025 13 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF TRIN￿ARIAN BIBLE SOCIE FOR THE YEAR ENDED 31 DECEMBER 2024 Oplnlon We have audited the finanriJ ststements of Trinitarian Bible Soryety for the ￿*T ended 31 De￿mber 2024 which comprise the ConsolKlated Statement of Finanaal Activities, the C(￿s011dated and Parent Balanr Sheet, the Consolidated Cash Flow Ststement and Notes to the Finanual Statements, induding a summary of signrficanl Accounting Po[￿les. The financkil reporting framework that has been applied in their preparatson Is applicab￿ law and Untted lfjngdom Aixounting Standards, Ind￿Jing FRS 102 The Financial Reporting standard Applicable in the UK and Republic of IreLqnd' (United Kingdom Generally Accepted AcrA)unling PTactice}. In our opinion the fin8ncial statements". give a true and fair view of the slale of the grwp's and the parent charitys affairs as at 31 D￿mber 2024, and of the group's in￿ming resou￿5 arKI appl￿tion of resources. for the year then ended., have been propedy prepared in aLXXlrda￿E with United lfjrvJdom Generally Actspled Accounting Prdctsce.. and have been prepa￿d in aux)rdanL* With the wuirements ofthe Charities Act 2011, the Charitie5 a￿1 Trustee Investment {ScoUand) Act 2005 la5 amended) and regulations 6 and 8 of the Charities ArKounts {ScoUand} Regulatic￿$ 21Th {as amended). Basls for opinlon We conducted our audit in acr￿d8￿￿ with Intemational Standard$ on Aud￿ng (UK) {ISAs IUKII and applicable law. Our responsibilitw under those standards are ftjther descriLEd in the ALbditor's Responsibilities for the audit of ￿ finanual slatements sects'on ofour reporL We are independenl of the charty in accordance with the elhical requirements that are relevant to our audit ofthe financial statements in the U including the FRC'S Ethical Standard. and we have lulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained 15 sufficient and appropriate to provide a basis for our opinion. Concluslons relallng to golng concem In auditing the finaniial statements. we haNE condLbJed that the truytees, use of the going concem basi5 of accounting in the preparalion of the finanu31 statements is appropriate. Based on Ihe work we have perfomied. we not bjentified any material ￿n￿rtainlieS relating to events or conditions that. individually or Q￿lectivelY. may cast signfficant doubt on the charity's ability to continue as a going concem for a peri(Kl of at least ￿e1ve months from when the financial stslements are authorised for issue. Our responsibilitses and the respOns￿li11￿eS of the trust*s wth resr*cl to g)irvJ Conc￿ are described in t relevant sethons of this reKK)rt. othgr inlomiation The other infomiation rxsmprises the inforrrthon induded in the annual reporL other than the financxal stslements and ourauditorfs rewt thereon. The trustees are responsible f¢xthe other information. Our opinion on the finanaal ststements does not I￿Ver the other infomiation and, except lo the extent otherwise explicAfjy slated in our report, we do not express any forn of assuran￿ conclusion therer￿. In conneclion with our audit of the finanaal ststements. our reSpc￿S[blIty is to read the other infomiabon and, in doing so, consider whether the other infomiatbon is materially inrLJnsislent with the financial statements or our knowledge obtained in the audit or otherwise apFears to be materially misstated. If identÉfy such material inconsistencies or apparent material misstatements, we required to detemiine whether there is a material misststemenl in the finan￿81 statements or a material misslaterrEnt of the other infomalion. If, based on the work we have performed, we condude that there is a material misstatement of this other inforniation. we are requir&J to report that fact. We have nothing to report in this regard. 14 1NDEPEN0E￿rAUD1TORS, REPORT TO THE TRUSTEES OF ThIN￿ARIAN BIBLE SOCIErY FOR THE YEAR ENDED 31 DECEMBER 2024 Matters on whlch wg are required to report by excopUon We have nothing lo retKYt in rest￿￿ of the folknving matter5 where the Charibes Act 2011, or the Charit￿S Actounts IScotLqndl Regulati(￿S 2006 (as a￿nd￿j}. requires us to rerL)rt to you rf, in our opinion.. the informab'on given in the Truslees, Annual Re￿rt is incl￿SiStent in any material restec* with the financial statements., or the parent charity has kept adequate aCC￿nting recx)rds: or the parent ¢hariVs financial statements are Th)t in agreement with the aw)unting rgcords and relums; or we have not received all the Information aTrJ explana￿nS we required ts our audit. Rosponslbilities of trustees As explaine(J more fulty in the trustees. responsibililies stalgment set Otrt on page 13. the tNslees are responsible for the preparation of the finanaal stslements and for being satisfied that they gNe a true and fair view, and for such inlemal control as the Injstees detennine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In p￿paring the financial statements. the trustees are responsibleforassessing the charivs abilty lo ￿ntinUe as a going concem, disclosing. as applicable. matters relal&J to going concern and using the going concgm basis of accountiryJ unless the trustees either hrtend to liquhdate the Ch￿ or to cease operations, or have no realists'c altemative bLrt lo do so. Auditorfs respongibilrtsgs forthe audlt of the financial statements We have been appointed as auditor under Section 44(1 Xc} of the Chariiies and Trustee Investment {Scotlandl Act 2005 and section 144 of the Charities Act 2011 and repKKI in accordanc* with regulations made under those Acts. Our objectives are to obtain reasonable assuran￿ aboutwhett*r the financial statements as a whole are free from material misstatement. whether due to frdud or error, and to issue an audilorfs report that includes our opinion. Reasonable assuran￿ is a high level of assuran￿. but is not a guarantee that an audit ¢x)nducted in accordan￿ with ISAS {UK) will ahvays detect a mateiial misstatement when it e￿Sts. Misstatements can arise from fraud or error and are c4)nsidered materi81 rf. i￿lIV￿￿ua1IY or in aggregate. they could reasonably Èe expected to infiuence the 8(￿nomiC decisions of users taken on the basis of these financAal Statements. As part of an audit in ac￿rd8n￿ v￿th ISAS IUKI exercÈse professionaljudgment aThJ maintain prirfesSic￿al s￿p￿Cl$M throughout the audiL We akn.. Identify and assess the risks ofrnaterial misstateThwt ofthe finan(xal statements, whetherdue to fraud or error, design and perform audit iYocedur&s resF()nsNe to those risks. arwj obtain audit evidence that is sufficient and appropriate to provide a basis for our opinM)n. The risk of not detecting a material misslalement reSu￿ng from fraud is higher than for one resutiing from error, as fraud may involve collusion. forgery. intentional omissions. misrepresentations, or the overridè of intemal ￿ltrol. Obtain an understanding of internal control relevant to the audrt in order to design audtt procedures that are appropriate in the ciroJmStan￿. bLrt not the purp)ses of expressing an opinion on the effectiveness of the charitys irrtem81 cL￿trOl. Evaluate the appropriateness of acoyjnting policies used and the reasonableness of ￿lUnting estimates and related dtsdosures made by trustees. Conclude on the appropriateness of Ihe trustees. use of the going ￿n(￿n basis of accounting and, based on the audit evidence obtained. whether a material uncertainty e￿Sts relalgj to events or condtbons that may cast significant doubt on the charitys ability to cxtrntinue as a going concern. If we conclude that a material uncertainty e￿$ts, we are required lo draw attention in our audilorfs report to the related disclosures in the financial ststements or. if such disdosures are inadequate. to modify our opinion. Our conclusions are bawj on the audit evidents obtained up to the date of our auditorfs 15 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF TRIN￿ARiAN BIBLE SOCIErY FOR THE YEAR ENDED 31 DECEMBER 2024 rewrt. However, firture events cf ￿ndthns may cause the L*arsty to ￿58 to continue as a going eon¢*m. Evaluate the overall presenta1]L￿. strucaure and ￿rrtent of ttE finanaal statements, induding the dlsclosures, aTrJ whether the financial statements repmnt the underfying transactions and events in a manner that achieves faif presentatbon. We communicate with those tharged with governan￿ regardiro, among other matters. the plann￿1 scope and timing of the audit and signrficanl audtt findings. induding any signfficanl deficiencies in intemal control that we idenltfy duriro our aud Explanatlon as to gxtgnt thg audit was tongldernd capable of detecting irregularitles. Ineludlng fraud Irregul8ri1ies. including fraud, are Instan￿ of non-complian￿ with laws and regulatK)ns. We design procedures in line with our reswnsibiltttes. ouuined above, to detect material misstatements in resr*ct of irregularities, induding fraud. The extent to wh￿h our procedure5 are Lapable of detecting irregularitEs, irtduding fraud is detailed bdow. The objectives of our audit in respect of fraud. are.. to hlentify and asse&8 the risks of material misstalemenl of the finanaal statements due to fraud., lo obtain suffiuent aFpropriate audit e￿den￿ warding the assessed Tisks of material misstatement due to fraud, through designing and implementing appropr￿te responses to those 8sses8ed risks,. and to respond appropriately to Irbstan￿ of fraud or suspected fraud identffied during the audit. However, the primary responsibilty for the prevention and detection of fraud rests with both management aThJ those charged with goveman¢% of the charity. Our approach was as follows.. We obts1n￿j an understsrwJirvJ of the ￿al regulatory requirenwits applicable to the tharity and considered that the most 5iglltficant are the Charitses Act 2011, the Charrties aThJ Trustee Investment (Scotland) Act 2005 (as amerKJaJ). regulations 6 and 8 of the Charities A(￿Unts IScoUand} Regulath)ns 2006 las ame￿Ied). ￿ Charity SORP, and UK financkal reporbng standards as issu by the Financial ReF4ybng Counal We Obtain￿ an understsnding of hry4V the charity complies with these requirements by disLussions management and those charged with governan￿. We assessed the riskof material misstate￿Ent0fthe financAal statements, including the risk of material m1sstatefflentd￿ to fraud and how r( mightc*£ur. by hokling discussions with management and those charged with govemance. We inquired of management and those tharpj with govemance as to any known instances of non- Comp1Fan￿ or suspeded ￿￿-C￿P1Kon￿ with Lqws and wJulations. Based on this urbjerstanding. we design￿ appropriate audit protsdures to identify instance5 of non-compliance laws and regulations. This included makirwJ enquiries of management and those charged with goveman¢* and obtsining additional corroborative e￿dence as req(Jired. There are inherent limltstions in the audit procedures desuiW above. We are less likely to become aware of Instan¢x of norrfOmplk4n￿ ¥￿th laws and rg3ulat.ons that a￿ not dosely related to events and transactions refleGted in the financial ststemenls. Ajso. the risk of not detecbng a material misstatement due lo fraud is higher than the risk of not detecting one reSU￿ng fr(￿ error, as fraud may involve deliberate contsalmenl by. for example. forgery or intentional misre[￿e$entatiOn9. or through collus¥M. Use ofour report This report Is made SO￿lY to the charitys trustees. as a bcNJy. in aC￿rdan￿ wrth Chapter 3 of Part 8 of the Charities Act 2011 and Section 44111{cl ofthe Charities and Trustee Investment Iscouandl Act 2005. Our audit work has been undertaken so that we mKJht state lo Ihe charitys trust￿ those matters we are required to state lo them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law. we do not 16 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF TRIN￿ARIAN BIBLE SOCIErY FOR THE YEAR ENDED 31 DECEM8ER 2024 a￿pt or assume responsibility to any paty other than the charity and d)arit*s trust&s as a tM)dy, for our audll work. for this rep￿t, or for the opinion V￿ have f0M￿d. ¢2V NfvL La Moore Kingston Smith LLP Stslulory auditor 9 Appold Street London EC2A W Date: Is Moore lQngston Smbth LLP is elvJibb to ￿ as auditor in terms of Sectlon 1212 of thg Companies Act 20(E. 17 TRINITARIAN BIBLE SOCIErY NSOLIDATED STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 2024 iknrtstrlcknd Rb*ki•d D•4gnatsd Endowm•nt Fund¥ Funds FurK Fund 2024 Tolal Totsl 2023 12J Incomo and 8ndowmentsfrom: r#)nati(Th & Leg Charit￿8 ActThities. tkstribjhm clth8 Script e5tment Ir￿e I1￿.770 2,597,t)27 3,973,391 1,437.213 11.351 111.(IX) 12.1 1,448.W 1,7CV3,078 282.124 13.162 X).&81 Totsl In¢omlng ar￿ •rKI¢MTm•nls Xl,531 4340.en S,B4899 Expondltyrg on: Rak8iry Funds Charit&le AclThitie8.' Trar*latiw the ScrityB5 PLknlishir* tha ScriptLY88 Distribthr¥J th2 ScriptL￿5 Fr￿0t1r0 UphJ(IrvJ the 10,70] 15,&ry1 26,￿1 27,965 533.184 146.C61 2313. 179,343 17T,255 .7tr2 1,124,034 146,061 119,033 2.693.676 1847, .178 24,(41 989,032 946,203 Total oxpondltyr• 492412J 311,566 74612 S,OB4,573 Net Gwns1(LcGses1 ￿ IrTre5trnertE 1￿le& 1.970 In98T) (71,01n 1101.8591 NEt Incom• I l•xpvndknrnl io 191609) P91.03sI rr49 1474,7521 728A67 Trand8rsbotsv8•n fundB 11-12 (5T4 ,4391 613. Oth•r r•Mgnl¥•d galnsl 00￿4. Foreign I Ikwsl- FDt&l Assets Fr￿n eXctr￿ I Ikwesl. other 11818 11818 117,6771 1171.4 .0231 11715)11 137,ciJgi NOtm￿•m8￿t lunds 11-12 39A17 (71987) IM43• 673,741 Rgcon¢illatlon olfundb Total fjjrth brought 13 9,1(￿. 7x1,476 348,461 2.679,1&) 12.849,C¢1 11175,310 Total fvnd¥rA fonv•Trl 17 IM173 112116$6 11849.091 18 TrINITARIAN BIBLE SOCIErY SOLIDATED BALAN AT 31 DECEMBER 2024 iknre*lctsd R¢*i¢iBd Doslgnatsd End¢)wm•nt Funds Fund8 Funds Fund5 Totsl Totsl Fixed asEets Taroibl8 as$et$ In*stTTWrts 2,771, 199,1ZJ ITT1.a59 2,813,053 1,4617T6 1,W2.899 1,697,772 1970.182 1.461m 4A33,958 451Q825 Currnnt a*èls Stwks & W¢Jrk in Prc¥J8SS 16 17 1,632,W2 &81.891 2.115.570 1,1&1.176 1,636,656 1,538.499 581,894 2,079,731 3.257.*7 3,632,049 2,589, 1,517.937 In¥estmerrt$ Cash at L*r* in hary 1.141397 75&329 671,121 44Y4n2 7*893 671.121 1.141397 IM,143 768,216 credito￿ Amounts fallir¥J ( %*ilhin cfie y8¥ 1¥d1 287,445 429, Not ￿rrentA￿ts 4204287 7*.893 671.121 1.141397 7.m.698 4338,266 N•tA*èts .175.469 671.121 I￿173 849.091 Totsl Charfty Funds 17 671121 aL173 1121 A.f¥.(LL K A. CJeJl(e. Tfftas(uw 19 TRINrrARIAN BIBLE socIErY UK BALANCE SHEET AT 31 DECEMBER 2024 lkn•*i¢knd R•th¢1￿ D&signatsd Endowmont Fund5 Funds FundB Total 2024 Totsl Flxed a*ots Taroit4e asset5 h￿trnentS 14b 1463,753 14fj6,753 1.463.TT5 1510,153 1,524,733 1.463.TT5 1466.763 1,463.7YS 1930,528 4034.8Bfj Current awts strtks & Wtsk In PrrY4es$ 16 17 1.W.C63 512,2 1,￿2,1 494.012 1,088,627 1,044,812 512,2& 1.583,220 1.141397 3,[￿,￿ 3.444,685 1.732,544 833,522 h￿trner￿S Cash at bank aTrJ in SS7.411 671.121 4011539 671.976 6M,121 1.141397 6,JX032 7.3W239 crad1t0￿ AmMt8 falir#J dua thin y68r 19 214.851 214.851 518, t Curnnt A*•ts 1797,688 Sll,975 671.121 1.141397 8,183.181 790,175 tA8B8ts .2H441 S71.975 671.121 10 113 709 10 825 061 Total Charity Furtd• 1 ￿1975 f11,121 IW.172 10 113 709 1Q825 W1 R. A. aathe, T￿sU1￿r TRINrrARIAN BIBLE SOCIETY CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2023 Not flow used In Opèrating Aclivities {Not8 24 682,075 1.069.74 Cash fl<>w from invesling acllvltlo DI￿dendS. Intewl aTrJ Rents from kNestsnw)ts (￿e 4} Purclkgse of Prcyety, Plant & Equiprnent (Note 14al Proceeds from of Propwty, Plant & EquiF¥nent (Note 14al Prmds fr[￿ Sale of Fix&J Asset In*tmenls (Ncrte 15a) Purchase of Fixed Asset In￿SImerrts INcrte 15al [lisin￿tMent fr(xn CArntt Asset In￿tments IW$ 18al Inwtment in Current Asset In￿tments (Note 18a} 282,124 123.0341 207,432 (2,0151 27,383 I101,￿2) 4,291,182 13,344,443) {110,1C61 7.244.253 {6.e￿,33Ol Nèt ¢a¥h flow provided by Invegllng activiti05 580.775 Cash flow from fin•nclng actmlle Rèpayrnents of borrTrMr#J Cash irfow& frc4m LKrniThJ Recelpt of erKlovKnent Net cash provldèd by financing actlvHI•s IncreasellD8crnas•l In eath & ca¥h equlvalents durfng the year 8,729 Cagh & Cash Equ￿81•ntsI Npt Debt Openiro Balance at 1 January Increase1{￿reaSe} in cash & c￿h a]uThdents durfNJ Il* y Change due lo Excharoe Rate Mownents Closing Balance at 31 ￿cemb¥r 1.517.937 1.282.849 191,160 2.589,626 1.524,465 8,729 15,257 1,517.937 Analws of Cath and Cath Equivalents I Chang•$ in Not Debt Cash in hand Notice Wosils {<3 month51 Total Cash & Cash Equlval•ntsl Not ￿bI 1.733.429 8￿,197 1589.626 1,264,687 253,250 1 $17 937 21 TRINITARIAN BIBLE SOCIErY ANALYSIS BEfwEEN BRANCHES FOR THE YEAR ENDED 31 DECEMBER 20 Total ¢0rno •nd Endowimnts & Le9yae5 ritabk ACt￿lt 982.931 649,242 258,685 ,991 71,337 11.9)3 423,2 941,572 561,767 2.597,027 251,512 1.448,564 10,876 282,124 12.194 13.162 836 349 4310.877 4,211 787 Otker Irv))n 1.B91,826 171.558 441067 991.216 861 Exwidtture RaisirwJ Fts GtrWrltab￿ 20,017 3.129.778 26,Cfj1 4,718,551 47414612 131. 131,969 454.113 19).675 196.719 809.416 Net OFwatkvJ Prol*l {Los81 11251,W} {11.0461 794497 4261 933 14017351 Gakts l {k68881 on lrhBstrr￿¥ (T2.9B71 1,976 161 171.0171 Net Inci)rn• I {Ex￿nd￿j . Branch05 11,330.9561 111.11461 79Q4n 4261 26.V27 1474.7521 1rt8r-braThth trarBfers 627,2YJ 27.rrt 5.124 1693, 16,1841 Net Incom• I IExp¢Nl*urn)- Con$olldal 1703.65TJ 6& 14W22) 103.166 11,9231 14747521 ForevJn Ethoe Gars I ILc68881. Fts8d thats Forebn Excw G*6 1 ILc68881. oirfjr (s.￿1) 19,619 13.818 (7.693) P1.9781 1103.6511 I31.3￿) 12.627) 18.1961 1175,5011 Not Mtsv¢m•nl in Funds 11.350 115.374 550 UK Zeaknd Total TawiN8 assets 2.466,753 1,463.TT5 279.e61 2.771.059 1.662.899 4,433,958 197.698 197,698 1,426 Currert a5¥0ts Stcth Debters Irfi&%tm8rts Ikss t￿n l yearl Cash at bard( ard in 1.088.627 416,554 3,064,￿5 ZJ,876 1,732,544 32.719 171,3&3 30129) W2.637 388.685 30.243 180.rn 1tsq.1t6 71,027 8,221 9.182 261,421 46,334 160,344 331,636 799.735 1,636,656 581,WJ4 3,2S7,967 2,589,626 066.143 820 21,139 Cr8dhor5'. wittrin 1 ye0r 183,238 58,814 781 287,445 119.1)52 8Q201 397A58 380.863 25.743 769,381 7.77&690 10.049.580 283.899 421103 382.289 25.743 1.049.042 12.211656 TRINrrARIAN BIBLE SOCIETY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL TATEMENTS 2024 ountln Polici la) Basls of preparation These Financial Ststements ttsve been prepared under the hIst￿Ical ￿)81 basis of accounting, as modified by the revaluation of investments lo market value. in accordance wtth the Charities Act 2011. FRS 1021SORP FRS 102. The Soaety meets the defin￿On of a Public Benefft entity under FRS 102. Ibl Golng concern The Trustees consid8r that there are no material un￿rtaIntieS about Ihe &yietys ¥knilrty to ￿ntinue as a going conc*m for the foreseeab￿ ftrture. This ￿ndUs1on ¢s reached following Consideratic￿ of various narios and, even in the worst case, the Society has SUffi￿ent General Fund reseNes to meet its debts as they f811 due for at least 12 months after the 8pprov81 of ttrwe Finanaal Statements. The Society has a very byal suppcKt base often from amongst more mature age groups, whose disposable income is typicalty less hard hit by e(x)nOM￿ shcth. so voluntary inconE is historically stable. Nevertheless, the Soaety receives s4qnrficant partner lunding from like-miTrJed organisalions in the UK and overseas. so ri is Th)1 wk)Ily dependent on wlunlary Inco￿￿. The Society maintains a 5 Year Financial PFan. whlc* i% refreshoj every year. so in the event offinancial dfficulties developing. these can be ktientifi￿1 arKI address&J with avarbcgj waming. {cl Crftlcal accounting estimatss and areas ofjudgment In the application of the Charitab￿ accountir*J p)liaes. the Trust￿ are wuired to make judgments. estimates, and assumptions aboui the carryN)g amount of assets and liabilities that are not readily apparent from other SoU￿s. The esbmates and asswated assumptions are based on historical experien￿ and other faclors that aye (x)nsidered lo be re￿vanl Actual resutts may differ from these estimates. These assessments indude: Legaries left to the d)arity which may involve an eslimated value of an estate bas&d on infomation provided by the executor. Gifts in kind are reco3ntsed wilhin in¢x)miThJ resourfx and expenditUTe ¢x sIc￿k 818n estimate of the value to the charity of the donated serviees or goods. Where possible the value of serVi￿1g0¢XlS are confinn&J direclly wrlh the dorK)r. All estimates and undertying assump￿￿5 are reviewed on an ongoing basis. Rewsions lo accounting estimates are recognised in the peri￿￿ in vhjich the estimate is revised where the remsion affects only that period. or in the peri(Kl of the re￿$￿n aNJ future peitods where the revision affects both current and future pericKIs. In the view of the Trustees in applying the aco)unting policaes aj0p1￿￿. noju&aments were required that have a signrficant effect on the amounts recx)gnised in the A{￿unt9 nor do any estimates r assumptions M￿18 carry a sKJnfficant risk of materi81 ajjuslment in the next financial year. Idl Basis of consolidation The Financial Statements ￿n$011date Ihe reyjlts of the kniety and its five overseas Branches. where the Society has control over the Board ofthe Branch meeting the SORP FRS 102 definition ofsubsidiary undertaking. Al inlr&group transactions ￿ eliminabj on ojnsolidation. {e) Incorne All income is rec(KJnis&l On￿ the Chaiity has entiUem8nL r( is prci)ablethatthe inc£sme will be received, and the amount receivable can be reliably r￿sUred. Al ￿UTeS exc1L￿e VAT {or similar local taxes). but include reL￿rable taxes {e.g. Grft Md). (Q Expgnditure Expenditure is acuued as soon as a liability is ￿nSKIered probable, diso)unted to present value for longer tem liabilities. By way of darity. grants of Holy Scriptures are ac4x)un￿l for at the point that they are communicated to the recipients. All figures exdude VAT and local tsxes. TRINITARIAN BIBLE SOCIErY NOTES TO THE CONSOLIDATED FINANCiAL sTATEmE￿s FOR THEYEAR ENDED 31 DECEMBER 2024 Expenditure is analysed across RatsiThJ aThJ the four Charilab18 ACIN￿eS of the Soryety, namely Translating the Scriptures, Publishing the Scriptures. Distributsng the Scriptures. 8nd Promoting and Upholding Scriptures. Lkjvernance and Support Costs are allO￿ted to these activities on the basis of the cost of the Actswty in the year, with the exception of Property Costs, whith are allocated based on Flwr Area. (g) Provision for Annual Leave A provision is unr￿CesSary on materiality grcwnds, as ￿ S(Kietys annual leave year is eo-temiinus with ts financial reporting year. {hl Redundancy Payments Redundancy payments are a¢counbJ when the pewns are no11fi￿1 that they are at risk of redundancy. Flxed assets Depreciation on fixed assets is provKled at following annual rates to write off the UK assets over eir estimated useful lives.. Office and warehouse ￿Ul1￿7}ent 15% on reduc4ng balanc CompLrter equipment 20% of c£sst Motor vehicles 25% on reduLang balance Freehotd land 0% Freehokl buildings 2.5%4% of cost ￿ estimated residual walue Assets costing less than £2,(￿ are not capitalised. During the year the &aetyown&J a buikling al 29 Deer Park Road, London, UK.. William Tyndale House for its own pemianent (￿Upation. which ts accounted for as a Fixed Asset at histor￿ cosl and depreciated. The cost of kasehold premises arKI impTh)veThwts are written dr over Ihe tem of the lease. o) Invests))ents Listed investments. tonds, deposits. atKI teffy)rary h)ans are staled at market value. Realised gains or k)sses on disposal of irNestments are calculated by referen￿ to the market value at the last B8lanc£ Sheet dale for the holding Con￿Med. Any gain or loss on revaluation is taken to the Ststemenl of Financial ActNili8S. Atl non-cash investments are held on behalf of the Swety and various fuThJs by the Inwrporated Trinitarian Bible Society Trus( the Annual Report and Finano81 Statements of which may be inspected atwilliam Tyndale House. 29 Deer Park Road. London SW19 3NN. UK. on application to the Resources Director ofthe Swety. {k) Flnanclal Instruments under FRS 102 The Society has elected to apply the provBions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Instruments. of FRS 102, so these are re(x>snised in the Swety's Ba￿ncE Sheet when il becomes party to the contracbjal provBions ofthe instrument. Finanoal assets and liabilities ar8 offset, with the nel anw)unts presented in the Financial Stslements. when there is a legally enforceable right to set off the reLJ)gnised amounts and there is an inlention to settle on a net basis or to realise the asset and settle the liabilty simullaneously. For the avoidan￿ of doubl. with the excepth'¢M of prepayments and deferred income. all other Debtor and Creditor balances are considered to be basic Firkancial Instnjments under FRS 102 (see Note5 (rn} and (pl bek)w). 11) stocks Stocks and Work-in-Progress are valued at ()Jst. indudirg production costs. typesetbng. and carriage onwards. A prLWOrtion of the stocks will rK)t necessarily be utilised within twelve months. Where it is deerned thatparticular lines are obsolete. the stockholding Value is written off. Othe￿iSe, f( is anti￿pated that stocks will eventually be either sold or distributed fr* of charge. Also, where direct costs (such as typesetting) have ken held in the Work-iTrProgress value and the products to which they relate have not (X)￿ to the market within yaars. these amounts are written off. 24 TRIN￿ARIAN BIBLE SOCIErY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 {m) Debtors Debtors are Includ￿ at tl* setuement anount due. Prepayments are valugj at the amount prepawj. {nl Cash at bank and In hand Cash at bank and in hand indudes rash aNI s￿rt temi hwJhly Imiuid investrnents with a short maturity of three months or less frLKn the date ofopenwNJ of the depo&L {0) Current Asset Investments Liquid investments wtth a medium matur[tyOft￿ween thre8a￿l Iwefve months from the date ofopening of the deFX)Sit. (pl Cr9ditors and provlslons Creditors and provisions are reCA￿nISed where the Charity has a present obl￿alKIn arising from 8 past event thal will probably resuli in the transfer of fuThJs to a third party and the amount due to sethe the obligation can be measured or estimatgj rdiably. Creditors arKI provisions are recognised at their setti8ment amount. {ql Currency translation Amoun15 re￿1vable in forevJn currency are initlally trdnslated into Sterling at the exehange rate al the time of receipt, bul all foreign currency amc4Jnts indUd￿j with Ihe Balan￿ Sheet are indL•Jed at the rate prevailing at the Balan￿ Sheet dale. On consolidation. the results of overseas opwatM)ns are transLgted into stet1ing at rates approximating to those ruling when the transactions took p￿￿. Al assets and liabilities of overseas operations are translated at the rale ruling at the rewrting date. Exthanges differences arising on translaling the opening net assets at o￿nIng rate and the resutts of oversea5 operations at actual rale are recognised in 'Other recogniwj gainsl{lossesl' in the Statement of Finanaal Activities. {r) Taxafjon As a UK register￿1 Charity, the Scoety is exempt from Ir￿Me tax urnler part 10 of the In￿rne Tax Act 2￿7. The Society in the UK is regi8ter&J fDr VAT arKI appr￿Mate￿ 95% ofthis tax is recoverable on expendrture incurrgj. Isl Pension Scheme arrangements The Society operates a number crf defined cL)ntn"bution pension arrangements for the ￿nefit of employees. ContribLrtions payable are re(￿n￿e￿ as the liabilities to make them ari59. {t) Fund Accounting Restricted Funds are to te u*J for speufic purEK)ses a5 latd down by the donor. Expendiknre whi meets these criterta is charged to each sPe￿fiC Fund. Interest (where sbJnificant) is credited to Restricted Funds on the aNErage balan￿ held 0￿r ts year where the fiJrMIs are hehj on deposf(. The Society also has a nurn￿r of Des¥Jnaled Fundg, which are 50 desynated for use on sp8afic projects by TBS {Canada} {i.e. from their own General Fund} when they send those funds to London, in order lo ensure ¢>)mpliance with Canadian tsx regulations. Interest {where signrfThitl is crylited to Restrthd aThJ Designated Funds on the average balan￿ held over the year WI￿re the fvThJs are hekl on depo The Societys only Endowment Fund is the ￿hlen Thughts Calend* Furwj. The In¢x)me generated from 115 investment portfolio Iimrt not the capital) is used for the prcNJuc*on and distribution (rf Golden Thoughts Ca￿ndar$ as per the Trust Deed. Unrestricted Funds are all incoming resour￿ that do not cary any restricti¢M or have not been designated and are Us￿1 for the fuffilment of Ihe charitable objectives. lu} Operatlng leases Rentals applicab￿ to operating leases where substantially all beneffts and the rigks of ownership remain with the lessor are charged to the Statement of Finanual Actsvities over the period of the lease. 25 ThIN￿ARIAN BIBLE SOCIErY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 lknrn*l*d fv•*l¢l•d O•¥lgnatsd thdwmont Funth Funds Funds Funds Total TolAI 2J SLt6¢rikthons t￿(￿lon¥ CdIe¢li￿ cie PaInWFuTr￿ 79.7&1 1,477,222 373.170 213.tr25 79,753 1.7&fj,385 382,731 213,S25 155. 288.163 1.428.508 3￿,5 1,e02,219 469,276 155.533 11447TO 2[￿ the UK Intwrotlon* Tythd da that Ir￿11￿￿ a shap rAin￿tal a frBehDkl is $ul#t to a lenarKy. Tr ¢(réilioro ly re¢witth oftris ir*Lxne mBt aThl theth ttms Wy is as incorn in the Finaro Stalemenls. Tr eBtim0ted r4tr¢ Wy r8 £37.(IXI. $vles RryattieB 1.4￿￿.476 27.737 1,420,827 1,648,024 27.737 1448,564 1709 076 tisted In￿lments 68,093 211.629 2.402 70,318 135,851 14T.884 43,414 20.531 $vJe oflT& E(pMrrnl (rKTrc*l 12.194 11194 26 TRINrrARIAN BIBLE SOCIE NOTES TO THE CONSOLIDATED FINANCIAL sTATEmE￿s FOR THE YEAR ENDED 310ECEMBER 2024 1ts*S¢l•d D•4gn•tsd EnOwm•nt Funds Fun Funth Fun Toial Total Ra5itw CWtat4e FU￿ 9,104 18.861 134 15.*1 2J.495 Translallno thg $thpfr tirect Cost5 ofTr￿lat1￿ & Raisi￿ C￿]9￿ of Trdnslation & R*dsk¥) ProJ*ts 191, 11Z(47 1￿,036 19.217 751,97T 173,881 198,3* 154,199 PulAl¥thlnll tho S¢rfP￿l•* 146 C61 146.C61 119.033 CLEt ofGoods SLSd Sales De$￿tch & CThJe $￿e$ Mthetiroj & Prurr Sales Athirmstrth) & Maw Gtatrts tlS¢rfpbJr8S Grant8 P(6tao8 & Cwri Grants A(kniniStr*V￿ & EisFlayitvJ tt* S¢rfpbJes Putllc Elstributhm ¢vlrEB 9￿214 37T.445 41, 4376 181488 13.124 110,637 ,193 3TT,445 41.9)8 ,378 476,957 56.011 110.&17 75.473 1,073.734 341,833 28,5TT 221.7>) 739 14,397 573,655 74,932 136.432 5T.662 80.493 Pyomollon & l￿oId11￿j pl￿￿011￿9 & 924.487 24.041 9.r)32 946.203 311.5E6 Prom+Jllry Ba*8of RaSdrvJ rnent GowrwKe & Stthgic 718 11 1173 .715 71.121 71.167 35,746 104,208 .248 ActNty C05t 343.423 Aciimty Cost 292.335 A¢li%4ty Cost 44,￿ Actimty Cost 137,720 Actiiity tst 239.802 Flo￿Are4 11.031 154,871 103.675 Fina 12,039 43,341 1.192 6,815 47,478 184,175 Praperty Total 3%24$ 644.8g 319.430 1 1S7 112 27 TRINrrARIAN BIBLE SOCIEri NOTES TO THE CONSOLIDATED FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2024 DlrnGE Ov•rd9ht of Tf•MlalM Tmndallon Total X*24 Tolal Anthaic TWtslIt￿ Prr Chin85e Re4sion Pruiect Frerth RtM8H)n PrLi*t Hebw R￿$1¢￿ Pr(ie¢t spa￿sh Re4sion Pruiect othw Tr*slation & R￿￿$1¢*) 39.910 83.762 .143 43.781 42,630 42.553 116,320 8.176 10. 54,143 94,018 107,123 512,284 275.125 117.813 738 20 Grants to Irtsblthr 333,884 466,1n 143.073 107.482 476.gS7 Gmrtaof H￿YscriP￿￿11n •XCWakofQXKlW•f• m•d• th)th• lollowlffj Amwian Mlrw$trf A￿an ￿te7tUre FurKI Baal* BiLle Prestyteri* Cthurch Bibkn Chrigtrw Fadh Bisrdt Yibas BaE*o IArntrAx, SaAhAtrk•} B¢rf*l 6itl8 h8tituto IKwtyal Ch￿t W"s¢ (Mgw181 3,035 17cr) 31.8 10.621 2,510 3,177 3.207 DO￿ morris￿ IiA4ralnk*l 4.930 2.822 46,070 2.846 2,540 Free Grace E￿I5￿C Associabai IAts & Asigl Frea PresLtyteri* ofscL￿￿Kl (Zrr*thl Free Presbyfrri￿ Clxlrch ofScotl* IS¢lK(l. K￿al Gatww To Hea￿ Perrt￿OSt￿ MiTrsty (M*•M"I BijtdstKhtirKJ Tr NBIl￿[￿*S) H.k4. Prisrm Oakth Istaknshuel Hopè f1stri￿AlOn FLrt Icthi Missionary SLwAYt (Atical m￿$10￿5￿ VrAce ofFky luk￿rI￿) Vc4¢0 ofFw IGryl Ord Trust <￿) Open Ba￿￿t c￿￿ch (EIIMoFOB} Pl1￿0 Orozco R(1￿ Ne1￿2[￿1*) Rthrnir*J Athca Mirdslrie5 IAthcal Rem￿1 MLThwnetrt ASSLWb￿ (Fthl 40.891 5.512 16&4 11.478 19,610 6,611 18,019 SBTCIM 8BTCd0￿￿xa s￿let81 Bltdlc8 Thr￿8 ISKar¢l S.C. F￿1￿9 Prrthrm SRL (R￿￿) 36.351 10.367 Styewgn G￿6 Bitle cfL¥¢h {￿￿1a> Spwtse 72Th*ry The ofG0W￿￿ Ckik*Enb (K￿ry￿> m GcoJlr#J (Rmnkg) Trinita73n BiPAe SrAiety Ètricpa Willlan wil3￿ (kBlaxl atwj Zamts81 Ml881￿ (UK) 8.843 15,128 5.1eo 28 TRIN￿ARIAN BIBLE %)CIETY NOTES TO THE CONSOLIDATED FIKANCL4L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 8 R4trLt•d i* £9,885). 12023.. £01. pAragra[￿ 33.1A of FRS 102. Staff enwknytrj LK" Wages ￿ sa￿[ 915,465 61. 71.356 1.W.371 42.071 180.294 373,9Sg aOD,778 ,257 75,058 40,726 197,445 347,7e8 412,656 b) Remun*r8ttty7.' 12023.. £296.3J31. iIK IIQ 202J £60.CKK) lo EBg.999 £70.￿)10 £79.999 £80.c￿t0 £89.999 £100.(KKTrto £109,999 £110.(KKito £119.g99 £120.CKI)to £129.99) 31 72.792 Cortr*￿tr)rts at yeor 9,140 29 TRINrrARIAN BIBLE SOCIETY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 io Total Tot•1 2023 Ntrt In¢omo 1 (Ex￿ndl￿Jr•1fr￿thv )YirW)FA) 1474.T521 728.467 This aler¢Jwl trkn¥y.' Cry￿AtIEn & ArnCrfbSab￿ INrte 14al lernsl P* 78.848 Fl're DfPla*. Of Pro 17.156 27,616 12,548 31,231 UKAthll Fees Fees pad to authtcrfs kr cthersenie 18,8rx> 2,818 20.769 45,530 F￿¥J. Fund. At01101124 InL￿MI IDwknrt EXp•NI￿r• Tr•nthra At31112124 Re*llledl Unra*rfctod FurKI 9,11X>.994 3.7315H 14.rA5.78Z) (574,2571 8,175,409 R•arfGtsd Fund& TransI￿r@ IL* Scrimu PuNi5FirvJ trE ScrirknEs tistribthrvJ the Scrioures PromtirHJ & Ur￿dd￿( the S¢rfFrtLThS Total Re*rlcknd FundE 104,315 li￿5¢5) 129,7Crf) 811,>2B 4,233 720.476 311.m5 62.8YI (79.4381 601,320 28.873 759.893 (506.946) (39.4391 De4w•tsd FurHI Ttanslating Publi*￿￿rvj the Scriptures tistri￿¢hrY the ScThOure5 Pr¢mDtinu & &rikrt TolAI DodgnAtod FundB 178,244 794 1189.2701 240,7eA) 258,528 171x217 10.189 (96.12n 1TO 251.W 121474 613, 335.741 346.461 20.531 11. 671,121 dowm•nt Fun lff19,1fy) 18Cfj,173 Totsl Fund• TRINrrARIAN BIBLE SOCIETY NOTES TO THE CONSOLIDATED FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 At 011Tr1124 Incl￿0 Inv88lment Expendltyr• Trond¢rs galM& OosJB¥ At 31112124 Abkhaz ScriF4urB Fund AfriGa SGThpturv FUMI Amharic Scriptwe Fur Aralx¢ tligthsatity) Ftyxl Aratic ScriptLre FUTr Bible Translation FuTrJ Èible& fu Gh Bibles Malawi Bibles for NI￿la Bibles fDr PriSor￿ Fu Bibles Orly Fut¥J Brftish Sign LarwJuage Fund Chichthva ScriF4urB FuTrJ h11th￿ & Schrds Scriptwe Fw¥J Chir￿8 Bit4e Trartslalicn Fml hine$8 NT(>ont$ GBS Furnj Ch￿￿38 Pth￿rty IOZ) FLThJ Chi￿6 Scripture FuThl Oakota Scripture Fw OanlGlo Testam*rt Furnl DanlGio Old Test￿ T[w￿￿tIOn Wr*k DanlGio scriptu￿ FUTVJ lknsauri IhaN Test*n8nt Tr*stth Fwx1 c￿nat￿S kn Grants F￿j Erolish Bitle8 FuTrJ Ethiopian Office P￿¥￿t F￿d E￿￿￿1$t￿ Tr&t8 F￿d F4r5i scriptu￿ FuTrJ F¢xagn Scrik*ures F￿1 French ￿ CistritrLrtion FuTrJ IGBSI French S¢Dpturt FUTKI GharA- BI￿88 ￿r{￿ildren Fuk) Gdden Tlwhts FUTr Hausa ScrfptLre FUTh Hebrvw NTin Auolo TWR￿L FuTrJ Hebrv* ScrfK*ure Fu￿1 Hinth Scriptures FUTh 1(rygD Scripture FL knd￿ Scripture FurKI kndkq Trip FLTrJ kndon Lawes Furnj Lsland ScriptLre FuThJ 1 J#parEse ScriptuTB Fwd Kaby￿ Scriptur8 F￿d Kaknjin ￿ lkns Fw 753 13.lJ)31 11.Q31 15TrJl 11251 li.(MXJI 110,3421 112.6611 1137) 15,2101 13.6441 (78,5121 11.0891 112,1681 110.&8T) 125 47,433 12,X 181 5.210 1,051 14.981 11.728 4,587 26.783 81.414 1,079 12.168 10.S97 28,793 1,1(e &1,771 1,147 55,981 2.210 34.423 9.424 (34.4231 11.28n {8.&WI 133.8151 1301 1e.810 24,947 22.116 31.016 19,317 81,472 IT8,￿) 11 3,176 161 15191 (6101 6n 81.913 81,913 93 14741 11561 {59,7931 1&8 703 89.197 12 &070 (39,4391 1.475 (2,9951 (7,7311 <6,8461 9,128 2.280 1,393 21 1.￿1) 2.ffi1 {5,448) {3, 12371 15421 7.744 15 542 5,570 11 23.175 23,175 31 TRINrrARIAN BIBLE SOCIETY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12a At1rt101124 IKome lfftsbn•nt Expend￿￿8 TrarMlor¥ At 31112124 galns & llow4 Kikamba T￿latIon FLWh Kisanga Scripture FuTrJ Korean ScriptLTr F￿d Lat51￿ Scriptwe FLThJ LetlknL*3e Campa Lhaow Scripture FLTrJ iisu ScriF4urB FWKI mac￿ ScriFrture FLmd M(ry(4ian New Testarnerrt FuTrJ 1 m￿dIan Testament FLmd 2 Mozarnbitwe S¢riptuTE li Scripture Fund TM51alim Fth ?￿lan Scriptwe (￿gInal L￿a￿ Furnl Paschimi Klwm FuTrJ Persian reSt￿￿tt F Rornanian WLC ScriOLWB F￿¥j ScriFlur8 EhsF4ay Fund S¢rirtV￿ frx GwtetT0￿¥rt0 ArEa Fw ScriFiur8s Mark6t Stdls FuTrJ Scritstsres Mu51im$ F￿￿1 Scriptur88 Myanmar FLThJ Scri$*u￿ frx P(wC(urtries Fwbj Scriptur85 t(th8 UK FUTh scri￿￿￿ frjr Ukranians FWKI Swish Bl￿e G￿t5 B￿￿18 FLTrI Sp￿lsh GrantirvJ & Carri4e FuThJ S￿l$h ￿PP Printir#J Fw Swish Translaticn FuTrJ (￿TrGBS) Spwi$h Tran$￿tim Wtxk F￿yj SuFWt fixAfrica FuTrJ TauokyJ 8¢riptu￿ FurKI Tamil TMslatKfi FuTrJ T￿lM S¢rfpture FUNI Thath ScriF4ure FuTrJ Ihaitl Mthill l¥tspei Furnl Torcrfrto Transit Carnpaign FuTrJ Trar￿latiOn ofthe ScriFlures FLn1 Tutki5h S¢ripturE Fund Ukralnlan Blt4& FurKI Ukrdini8n Scripture 8tnamesÈ Scnvwe Futwj Wd8h ScriOur8 Fund 1,168 11,0731 11141 11951 2,038 114 7,150 13,278 2,691 3,240 18 17,047 12,754 1108} 3,112 {1.IX61 16,374 673 18,C67 5,512 (18,074 e.s14 2,(Ql (Il￿1} 12,rn1 13,253 977 27,433 1,127 28,$80 25.743 (2141 I7,￿) (30.9791 11.6151 13811 27,240 t2,488 2,897 24,103 3.1 122 {9J) P4.3Ce} 51,112 A2,￿7 1,556 31185 9,C67 39,081 11,548 12,429 15.118 122,437 316 (6,36n 187.7141 12.194 12,429 pon 14,7381 11,0411 97 12, 12,033 16881 5.391 11.429 18 461 17,428 10,8 17,445 {1} 11631 ,147 315 5,510 21 7,474 17.337) S)1 812 Tolal Roari¢t•d Funds TRINITARIAN BIBLE SOCIETY NOTES TO THE CONSOUDATED FI￿NcIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 AtIM101n4 Incl￿• In¥e8knent Expend1￿￿ Trnnrf¢ galns& osaè¥ At 3111W24 Amh*lc Blt48 Trartslatkjn AMh￿C NfGrantir#J Amhwc Scripture PrDrncthn FUNI Bcm Tr￿Slat￿n FurKI Carri•Je fr)r FBV8PS Printsj Gr￿ts Fw¥J ChKhvw8 NTGranb 152,4551 119.5981 118 25,352 11,818 2.034 24.681 5,872 12,C61 {1.6951 25.188 r26,Wl 10.015 1.814 10.221 Tr4rYsbtion FurNI D3￿G￿> scriptu￿ Fund Donatths FUNI Ethiwan ￿8t￿b￿￿on & PrOM￿lL Farsi Bib￿ Granting FuThJ French NT Cl'slrilyJtv)n FuTrJ French Scripture FuTrJ 11.8141 187 93,130 s,￿6 104,924 6,407 102,944 22,e37 29,284 1652 118 4.142 ￿8.￿) (6.6711 J,479 12.418 1C(1,782 11.wl (T4.1￿) 104.031 21,743 4.167 Hebrwv Testsmert T￿SL9110n FLThJ Hebrvw Nf Findk4athW aTrJ Tyres Hindi Scripture Promoticn Fmj Hindi Tr￿lat￿￿ Furyl HUn￿rian Trdnslatirm FWKI Ind1*) Furwj Ka￿¥'In ￿G￿tiNj Ka￿¥.￿n S¢WLYe FL￿d KÉ&hmiri Tr8n$iation FUNI Kom TransL8tlon FuThJ mauriti￿ Cr8c48 TMsPakJn FuThJ Paschimi Kham Twtslation R￿an18￿ ScripturE PTcfflrAion Fw¥J RUSS￿ Bibles FurKI S￿ni*h Bible Grthting Spani4h Bible PRJrnOt1￿ FWKI T8￿g FurKI Tamil T￿n$￿tIOn Fund Tribal Langjagts Trdnslatth F￿1 Turfllsh Bibl8 R￿slon & PromotiL•) FWAI Ukr8Inlan Scripture 28.694 30,045 14.609 617 Is.￿5) 9.128 142 122 5,937 6.059 13,4681 33,650 1,234 (2.4491 145 7.916 10.015 7,218 8,116 3,7S4 21 25.581 41.708 11.344 14.(KJ3 16,257 10,698 243 P.(621 I6.1￿) 11.0121 75 21 515 1.012 25,C 75,193 13,434 25.705 (34,3251 P,3191 111,9841 ,8721 144401 837 7.or2 11,7[ 10 Tofal D88lgnaknd FundB 11 12c A transkr was m•* lothe Gen￿￿ Furbj C4*bJ¥lGTCI FLtrxI (£39,439) in rE5￿t annual Trdnsf*s mth T[￿ C*nerJ FWKI wiryjs F￿J8 I£613,￿) In re8PXt ofknJlrvJ restr1c￿ ty TBS (c¥￿18) 1¥h￿ ￿ Vds sent to LoNlon. 13 nl TRINITARIAN BIBLE SOCIErY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14a Ta Fro8hobJ Comput•r oqulpment Lit*ary TOTAL At 1 Jarw 2￿24 Additior Nbt Writ&off on Di8rxwL8" ForevJn Exc￿rGe AljL8tn*rt- At 31 2024 2.921.808 473.th8 31.89) 3,482.470 23,034 21.044 115,413 2.906,395 8,673 481509 5.7341 65.180 1.031 18.2021 tk)n: At 1 JarvJary 2024 Chsrge for year Rdeased on di%posal' For8wJn ExrtrArvJe fvIjLBtrn8rt- At 31 Dvmber 2024 398,733 45,320 45,510 4,037 25.171 3.427 669,417 78,848 11,984 431069 10.148 215 917 32.020 716.243 44215 24042 Net book valug: At 31 Doc•mber 2024 1474.326 20.965 5,141 4,035 2,771.059 At 31 Der£mber 2023 2.523.074 273, 6,720 2.813,053 Loss ￿ Dtspw)sal ol FixEd Assets Loss on Fown EthTV8 ￿j￿trr￿rt 13,818 14b Tan I￿tr Fi¥od Assets- UK C(xnputer Eq*Mrt equlpTr*nt Llbrary At 1 January 2024 ddrtiors Di8posaL8 At 31 December 2024 2.846,154 22.128 2,868,282 2.816,154 22.128 At 1 Ja￿ry 2024 C￿rge for ttre year Re￿￿ed on disposal At 31 08C8mb8r 2024 341.093 42.637 17.036 358.129 43,400 401,529 Not l)ook value: At 31 December 2024 2A62.424 4329 2.466,753 At 31 D￿ert￿ 2023 2.505.(￿1 2,510,153 TRINITARIAN BIBLE SOCIErY NOTES TO THE CONSOLIDATED FINANCLAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Funth Fundffs FurKIs 20 Fund5 2023 Markel value.. At 1 J￿ry 2W24 dthc Dtsrw)sa RealiBedl(healEd 9￿￿1(￿3&￿) Re￿￿9th￿ lo Foreun Ey At 31 D8¢entsr 2024 173,039 59.516 {17.30n 1.970 18, 199.123 1.524.732 5).591 13&.5S11 (72.98n 1.897,772 110,1 155,PMI 171.017) 1,733,955 101.D62 127.3831 1101.8591 8,003 . ￿TI6 1.662.899 1.697.n2 1,463,776 1,465.202 1.541.334 197.896 15S,437 1.463.7Tfj ￿¥99 1697 ll2 197, 199,123 Fundj F￿d Total 2023 2024 At 1 Jw 2W24 1.524.733 50,591 138,M11 1,524,733 50,591 138,5611 1,569,405 87.147 127.3631 104,436 RealiEedlik(eakned g*lk•e¥l At 31 Dgcwthr 2024 TTS Dl¥lslFA8 as 10Th0￿. 1,463,715 1,4￿,715 1.524.733 716 16 Stocks & Work X+24 1.W2.639 1.339. 44.017 198.69) 1 636 656 1￿38.489 1,044,610 44,017 84S,122 .198, W￿k in progress TRINITARIAN BIBLE SOCIErY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 17 QthJ> Con>￿Idatsd Con>Jlldatsd UK 3J23 1&1.878 428.749 2￿,146 1.SX5T8 214,322 1,SY2,578 147.424 118.8 S1 296 19B3.220 ),146 88,178 137.870 581,894 150,404 1079 731 Li lknrearlcted Re*lctsd Dolgnatsd Endrywmert FurKIs Fur Funds Funds Tolal Total 2023 2024 MA￿1¥￿1￿0.. At 1 Janw 2024 In￿tment in S￿rt-TeTh knwstrnerts Dis1n￿Strr￿ SkKrt.Terrn IrThe5tryvts Re*luatiM dua te Exch* At 31 De¢embor 2024 1477.622 8,3e8,3XS (6.7Y2.2221 1.154.428 3,632.050 4,582, SYJ,(KN) e.w.w 3,344,443 15110311 (7,244.2531 14.291,1821 11 3.267.W 3.632.049 D5¥1￿ble asfollows In￿trn Short4ern t￿￿5 aTrJ c&8h 2.115,570 3.257 ￿ 3 632 049 1 141397 3.257.967 18b D**gNfod Endowment Funds Funds Funts Totsl Total Mark*¢v&lu8 At 1 J￿uary 2024 tment in S￿I.T￿ trTheytmert8 Elsin￿tr￿e￿r frurn SIKrt.TeTh trrne51rneFts At 31 Decomb8r 2024 2.￿>.258 6,216, .584,￿9 1,154,427 3,4144,68S ,(KM) 6.716.889 512,030 4,542,714 3.185.143 4 283.172 DJvl4ble asfolltr•s 8￿j In￿tMentS ShJrt4ern dwits ea5h 1 142,397 1.142.397 3,W,S65 3.444.6B5 3 064,565 3,444 685 1.921168 TRINITARIAN BIBLE SOCIErY NOTES TO THE CONSOUDATED FINANCL4L sTATEmE￿s FOR THE YEAR ENDED 31 DECEMBER 2024 19C Tr*ltrU￿￿o 178,218 107,29J 31,614 283,472 138.018 70.0 24.554 Otrw (xedrtus ar•J acL¥w 87.319 21.910 76.071 24.554 21,910 21 Furnhb Fund Fur 24 Total T¢Aal Tar¥Jib￿ FDEd AsG&5 2.771,Cfj9 1Wd.123 5.205.287 759.893 175 469 759 2,711,059 2.813. 1,463,716 1.662,899 1.897,772 671,121 1,141397 7.778,69B 8.338,2 671.121 IK&173 ￿212 656 12.849 091 Cwrert Assets 21 2D24 2023 OF￿all￿j Le￿8 IW IT& Vdthl.. wrtrdn OM y*r Wrtlin two to yea Mr￿e tIMn ￿ yeor 18.530 27.742 rJ.941 Fr¢￿rtY L08888.' wrtlin yèar Wrtlin two to fhE yevs MrKe tk0nfA* yeor5 53.571 78.914 147476 728M67 IP*tt 14a IGairEyLL*ses on (Firyl knetl IrpEstrrwts (￿e 15al DniKlerKIs. irter85t a-d rertsfram lrn*stTrwts (We41 Lossllprofftl cffj QfTarpJth￿ Fctyj Assets 14al IGarsyLcÉ88s on Ctrrww Reythkn of FLVJ A%ets {￿e 14al IGar*yLLÉ8es on ReYdkBkn of ￿￿3 A888t Irts8Strrnth1￿ 15a) D￿rea￿lI1r￿re0￿eI in Strth IM)te 161 D￿reas61(1r￿re8S8I in C*btcrfs ln Itx¥ea88llt*r88881 in Cr¥Jttort [￿e 191 78,816 71,017 12811241 ID1.859 1207.4321 13,818 18,095 198,1571 1.497.837 I142,￿5) 117,677) 1101,e861 11,503,956) 1136,3261 682,07S 1.0$9.74 37 TrINITARIAN BIBLE SOCIErY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23 Notes to the Financial S ents 2023 It ￿ a requlrement of the guidan¢• on th• SORP FRS 102 that e•tsin el•ments of the prevlous yearfs Notes to thè Finaneial Statsrnents be provided in the current year document for ¢omparativè puYpos•s. Rathèr than compllcate the Current yearfs Notes to th• Financial Slat•m•nts. th• Socw has chosen to Sn¢lude these h?re at the •nd. ikn*lc&d PAdrlctsd t￿l9n3&d Endry*mgnl FurKh5 Funds Furwj Funds Totol Total sth¢n￿(l tkn8tw 95,005 1,787,601 352,152 220.483 333.302 1,1￿,512 1.428. 3￿,582 1.fJJ2,219 469,276 1973 391 &4.818 L&Jac 1ST lenaw. The ¢(￿rtIC￿ ￿￿cl¥jI￿￿ oftr%s Ir￿ teen mel ard ttis Wy as in ts Fir￿¢1 ststements. The ¢stsmatrl *y * £37.￿. sae8 IrK( 1.641,1 61,052 1.648,024 61052 1.447,070 70.316 1￿.&51 Cash DewJ5it krternt 167 ,818 125.174 140 8.255 lthwe¥Jl¢tsd P￿Cl•d Endr￿mont FurK Funth Total chari￿e FLr 9,104 18.*1 5,877 18.377 2&254 13.627 14338 TRINrrARIAN BIBLE SOCIETY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23 stotheF nanclal Ststement5 202 Tra￿4￿n9 the S¢rfptsTh8 Cirect 0fTr￿S￿￿ffl & Pr*18 I￿r$19h1 of T[a[￿latiOn & PrDi Edrtori4 tkndc%rn8nt & 228,491 1114C6 427.714 49,L*1 751,97T 1n.861 198. 723.840 140.325 203.082 1067 247 11174 4Th795 Publl*blng the Scriptsrn c¢SoiFIL¥88 & ker 119.033 119,033 It9.033 ee,438 t4*rtbuYng thB Scrfptsn C•st ofSx*ts Sdd SA￿5 tkspateh & C Sa￿$ MaketitvJ & PFjno1￿n Saks AdmInistratl￿ & st ofScriptLVES Gtatrt6 PLNSlap & C 1.073.153 341. $91 1.on.734 341,833 319.497 28.808 ,039 386,571 571855 74,932 136,432 57,662 80,493 27.747 13.659 1*,432 84.274 ,128 th8 Scritrtm t￿￿tArt10n Wres 74. 145J.12 5,930 16,￿8 Pr•mollon & L￿￿￿1￿• 929.870 12.230 ,203 633.169 AtMm1123 In￿n• Invethent Expendlfyr• Tran4• galrts & Ilo*e* At 3111¥23 Unro%trided Funds eral F￿￿1 8.XQ.148 4.W.135 2.5TT [4.￿.￿7) (J)3,9WI 9,1CQ,894 R6*lct•d Fund% Tran8latit¥J ScriptLYes Publi$l￿r¥j the Sciipt 'stritxJbThJ Scripiures Prornoti￿ & UFMdiw t￿ ScriFtLY8S Total R•*rf¢tsd FuNts 313.rfj7 {472.0531 443,213 (310,6891 22.5 I￿,272) 158,4781 ff29.391 4,233 720,476 26,763 895.165 689.(￿1 158,4781 08signated Fun TranslatiNJ th& ScriptLres Publish'ro th8 Scriptw88 $tribUtI￿ the Scriptwe5 Pmmotiro & Urmthw the Scfirrtures Toial Do¥ignalBd Funds 139.W2 1214 141,e6n 111,9921 {1￿,461) 41,536 11,992 YJ8.949 2C6,6 141,7TS 54.813 &385 194.xfj 10. P19,1201 .477 348.461 Endowmenl Funds Gdden Thowhts Ckn 17&J. (lo4,￿} 1679,1eo Tolal Fund5 17 &119.259 849,09 TRIN￿ARIAN BIBLE SOCIEff NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23 Notes to the Financial Statemen nllnu AtMM123 Irtomo Invoth¢nt EKpondltsrn Trotmbrs At 31112123 galns & At*h82 ScriptuE F￿d Amharfc LIStri￿tiCffi & PrcffiKrtkn FLknJ Amharic Scri￿ule Fund Aratic ScriptUTE Fu Amienian BI￿88 BilAè Trark%lathM FuThJ Bible5 & Test4rnent5 Furnj ￿1￿6S ljr Ami8ni8 FuTrJ Bible5 ts Kenya FurKI BI￿83 ljr Priscr￿￿ FuTrJ Bl￿eS *rSchcd8 FuTrJ Bibles ￿￿rnbab￿* FLbk1 Bibles Onty Fund British Sign Laryuage Fund ScriptLYe F￿J Childrm & s¢￿￿$ Fw n888 Bl￿e Tw￿latIC￿ FLmd C1￿[*$e NTGr8nts GBS FL*NI thnese Scripture Fur¥Y D8kota Scripture FuTrJ DanlGio N*4 Testament FuThJ DanlGio Old Te5t8rnent Furnl t￿IGIO S¢riOure Furnl Lksaurf Thanj Gc￿￿1 FuTrJ Des￿￿ Ih*u NTTran81atKm 1 auri Thwu FMJ 2 tknnations Gmts FUTh Eastem Eurtwn Scrirtu￿ FWKI EthioFian Offico P￿￿ect FuTrJ Ewqdi8tic Tracts F￿j Farsi ScrfKrture Forei￿ S¢riFlU￿ F Fr￿￿h Nth¥Testsment CCfflF1d•￿ FL Fr￿h Fth Ghana- Bib1&8 tr ChldrEn FUTh Gdd8n Ihought8 C41a￿r8 FLThI F*u5a Scripture Fwd brew ￿ Testam8nt Tra￿latiC￿ F￿1 2 Nf A￿10 IWR-NL FUNI 1,087 1485 .4851 61B 422 P9.582 11.8591 12081 11021 14,6181 15.017) 1CQ 4.e18 4.0291 I12,￿ 9,194 173 374 1,￿7 9,212 15.287 14.2151 IT6.￿) 14,981 26,793 5T1 12.573 113,1441 1,102 53.711 52.011 24.101 9.2 I￿.645) 11.885 14.310 13,333) 13.12n (32,8tr21 147,12n I2￿) 21 21619 470 3.1( 9.1B3 7T3 25) 81,4r2 15 1329 4n 22,116 81,472 419 1401 16441 1473} 14,3031 1.0191 15J 156 3,203 118.115 10 158.8691 15B,4781 178,5691 14.4881 {11,4881 (7591 1.1 1.475 F*brw S¢riF4urE FUTr ktindi Scriptures Fund Ilonguo sGriptU￿ FuTrJ Indian Tribsl Larg￿85 F￿1 L8rvJ Scripture Fund I Japanese s¢ri[kn￿ FUTr Kabyl8 Scripture Fur Kenya- Bl￿e& for Furnl lfjkamba TTsnsL9ticffl F￿d 1.291 47 18,210 216 113,7841 16,1621 13. 7,744 15 15 1913 {1,0581 TrINThARIAN BIBLE SOCIErY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23 Notes to the Financial tements 202 nu 121 AtMAM123 Inctyh• kn*n•Dt Expond￿Tr Trnn¥l•rd At 31112123 galns & Kk88nga Scrfpture Flu￿ Korwdn Scripture Lahian Scripturn Furxl LhaDW Scripture Fund su Scripture FuTrJ Maori ScdK*ur8 Furvj Morwian ￿￿Test￿Ment FuTrJ 1 Testament Fur￿ 2 Mozamtsqu8 Scrfptuo Fw Trartslatith Pws N￿ghin ScriFth FuTrJ 0rigr•l Langu*J68 Fu Pa8cNmi Kham ￿Pe1 Furyl Pers1￿ N￿lTe$￿ent Fund Pokot $￿pture FuThY Poster ScriptLn Fund Romani* WLC ScrirAwe FuTrJ R￿5r￿n Scri#ure FuTrJ S¢rit4ur8 CisFlay F￿¥j Scriptu￿5 *jrGTraterTr￿Ar&8 Scriptures for M*8t stalls Fur Scriptl￿ kn Muslirns F￿d script￿?5 ￿ Porx ￿nt￿85 FLu¥J ScrirAuro9 tsth8 UK F￿j Scriptuw ts ukrwrll￿ Fund Shona ScriptuR Fund Simte Scripture Fund Spanish Bibl8 GRnts BdiiiB FurKI Spanish GrdntirvJ & C¥ri•Je SpAni5h NTrP C•knmi¥"a Con￿. Fur S￿nIsh WPP Prirrting FUTh4 Spanish Tr￿tsIation con￿ Fth s￿￿*h T￿1￿"(￿) FU￿ Fund 2 Translati￿ Wuk SukF¥Jt fDrAfrica Swthili S¢riFlure FuThl Tag*cg sCri￿ure FLrd Tédim ZtskBm 8critlure Fund Thad￿ Scripture FurKI Thaiti Mat￿111 GNpd F￿j Toronto TrO￿rt Camww Fund Translation of the ScriptUeB Fund TLwkish Scripture Fu U(rninian Bitde FuThJ UkraIn￿n SCri￿ure Fund Vaiph2i Scritsure F￿j Vietrwn8s& sCriF￿r? FLTrJ W4sh Scripture Furxl ScrfF4urè FLth 1391 11754 3,112 (21 11701 1A793 21,815 49. 5B1 P1.8151 16.374 (31,4451 155)) 18,C67 5,512 12.730 1Z7)) 1851 974 27,433 17.913 25,743 9.161 (9.1611 413 1413 C22.&801 4,233 24,103 3,1 200 57,112 112 67,647 117.1941 12WI 147.5861 11.1x91 (2391 40.273 35.681 28. 15,118 137.375 110.08n 15.118 122.437 114.9381 10.(87 19.9791 P5.￿} .9)31 11.211 ,847 4,73B 11,6731 (3.1261 205 212 7.331 11,7591 5,853 11374 18.347 13.2r 20,31S 114,1531 (38.6441 11,429 18 8.147 109 8,147 (3.0591 18 181 15CpJl Total Restrftsd FundB 895.105 41 TRINrrARIAN BIBLE SOCIErY NOTES TO THE CONSOUDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23 Notgs to tho Financial S tements 2023 contlnu AtWNM123 In¢om• Inv¥th•n¢ Expendlknrn Transf•r8 At 31112123 galns & (Iow51 Arnharic Bible Tra￿laliC￿ FuTrJ Amh*tc Cistritthth) Chic1￿ Scripture FWKI Da￿G￿ ScriFlur8 FuTrJ rwUork% for Gr*rts FUNI Farsi ScriF4ure FUTh Farsi Bibl8 Granling F￿d F￿￿h ￿ tli$trftMrtth FUNI FrerKh Scripture Fund 78,840 5,930 15.9301 155 (64,627 1¢Y2,51e 3.575 112 913 Ic￿,178 21,￿) 3,687 120,7781 IS3.5981 104,032 21,743 1623 lian Trlbal LarwJJages Fts￿1 Rom￿lan BiiAe ThStrilxrti¢￿ FurKI Russian Bibles FUTh sp￿18￿ Bible PrCI￿￿n F￿j Tamil Trdnsthon FurKI Tribal Lwouages TrarBlatKn FuTrJ Turkish Bitle Re4"sM FL￿￿ Tuthish Old Testament FWKI Ukrainkgn 8¢ritth Fwd {7.￿8) 1,D12 111.9321 11.W2 26.e87 10,378 13.4341 t25 Total l)&dgnatsd Fund8 191505 9.120 12 A trans￿￿￿ m•Je to the GeneTrl (￿en C4lwthr IGTCI Fur¥J1£58,4781 in rE¥PXt clthe amLwI Tran8fers %sve m*Je ￿ thÈ FWKI lotrrt Fwd5 (W47T) in offimdNJ re8trlcbA ty TBS Carwthl $*rt to LLXKkn. 42 TRINITARIAN BIBLE SOCIETY NOTES TO THE CONSOLIDATED FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2024 23 to the Financial Sta contlnued iknrE*k*d 11o*Jktsd D8slgnatsd Endowmorrt Funds Funds Futtd$ Funts Tolal 2D23 Totsl 2022 Markotvalue: At 1 Januwy 2023 Atklitions "SPC681 Prcte&Ys R8alis*Jllthreaisd gainsllkssesl due to F￿gn Exchw At 31 DpGernber 2023 &￿.873 1&31.524 (3.718,4981 l.X4.191 4,$82,W 3.572.062 512.920 3,344.443 1,183,290 1571ee41 14.291,1821 1172,4881 4.076 1477.622 asknllows listed in￿tments 1477.622 1.154.427 1.154,427 3.632.049 4 582 864 18b P**i¢*d D•¥gn••pd Endowm•nt FundB Funds FundB Funds Tolal Totsl V41u• At 1 Januaty 2023 Additrons spo5￿5 Net unreall5￿j gairtslOwo$1 At 31 Dec&mb8r 2023 3.32&523 16R223 (1710,4881 1.214,191 4.542.714 512,920 3,185,143 1572,6841 14,283,172) 1399.245 1.159.113 115,6441 IM258 Dtvlslblo a8frAIo¥ Li5twl inw1metrt5 1Th).258 I290,258 1.154.427 3.444.685 4.542 714 1.154.427 3.444.685 ￿￿714 Funds Funds Fund* Funds Totsl Tolal Tangib￿ FrA￿l Assds Fixal Asset In*stm*tt8 Currant A8S8ts t at tha end ofthe year 1813. 173.039 6,114.￿2 41QO.994 1813.053 2,887,714 1.524.7&3 1.W.772 1,733,955 348.461 1.154.427 B.&38,266 7.553.641 17 34461 1679.160 II849.091 ￿￿310 720,476