S.A.S.R.A. AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025
S.A.S.ILA. COIYTENTS OF THE FIryANCIAL STATEMENTS for the 'ear ended 31st December 2025 Page Referenee &nd Administrstive Details Report of the Trustees 2 to 10 Report of the IndepeNdent Audltor 11 to 14 StatemeDt of Financial Activitie5 Balttnce Shott 16 Cayh Flow Statemtnt Notes to the Flow Statemetst Notes to the Flnanckal Statements 19 10 11 Detailed Statement of Financial Activities 72 to 14
S.A.S.ILA. REFERENCE AND ADMINISTRATIVE DETAILS for the ear ended 31st December 2025 REGISTERED OFFICE Havelo¢k House Barrack Road ALDLIISILO-I. Ilanipsliiie CIlJl l _INP REGISTERED COMPANY NlBER -329268 {F.ngland and Wales) REGISTERED CHAIUTY NUNIBER 235708 AUDITOR Shaw Gibbs Aiidil Ltd 264 Bunbury Ruad Oxford OxfoTdshiie 0x2 7DY Page I
SA.S.RA REPORT OF THE TRUSTEES for the ear ended 31st December 2025 STRUCTURE. GOVERNALYCE AND MANAGEMENT 'I'h¢ %ASRA'I'tusiees, als(1 beinb Dir¢LII)1s ol- %ASRA lur th¢ putp()s¢s vf the C()mpani¢s ALI 2(X)6, pi¢senl thtii repvri and audiled linanLial slaletnen15 loi lh¢ year ded 3151 D¢L-emb¢i 2025. in accordanLe wilh ih¢ Chaiilie5 SORI, (FRS 1021. sec(Ind edition, ()Llobei 2019. REFERENCE AND ADMINISTRATIVE DETAILS Charity name: 8oldicr%' and Aviators, Scripturc Rcadci% Association18A8RA) Charity Rwl$tr#tlon number: 2.15708 (England and Wales} Cbrlty regl$tratlon number.. SCO19130 (Scotland) ComnY Cbrity re%istration number: 329268 {Eng18nd and Wales) RL%iStcred Office #nd operational addre8$: lavLII)Lk I Inus¢ Ilarrack R()ad Al.r)F..RSII(IT I lampshirc CilJl l .INP T¢lcphnn¢'. F.mail.. Wcbsitc.. 03000.3013(J2 adminC,sasra.org.uk www.sasra.org.uk Auditor Shaw Gibbs Audit Ltd Wey Cvurt WLst. Union Rvad. F'arnham. (Fug 71.1. Solicitors MoorL Barlow CvnLorJL Htru 165 Church 51 Easl. Woking Sutrcy (iU21611J Brokers RBC BrL'win Dolphin 12 gmithfield Streei ECIA9BD STRUCTURE, GOVERNAf4CE AND MANAGEMENT STRUCTURE 'lkne diagram l)clow shows the governance and management Structure of SASRA. Patron President Emeritus President Chairman Trustees1131 Vice Presidents141 Pag¢ 2
S.A.S.ILA. REPORT OF THE TRUSTEES for the ear ended 31st December 2025 Patron Hi% Majcsty King Charles IJJ Preyident Majvr General (Reid) R J Thojnson CBE Dsn {to .1 l July 20251 Majvr 6ener#l D Reeve MC (from 01 Aubius120251 President Emeritus (Jcncral IhL l.oid Dannatt CJCB cBr. MC DL Vice-Pre8ideDts MajoT CyeDeral (Retd) %ir ljureiice New CB CBF. Major GenLrul D ReLV¢ MC (retired 31 July 2025} BriqadiLr {Retd} W l L DobbJL OBL Li)lonLI (Rcid) L B L Amiitslcad LBE Lady J Fannei Council Memher¥lTru%tee8 Li)1 IRLidl J W l.Lwi% (Lhairnian) Col D F.Ilibi)n (l.aiL' RE) Ci)l {RLidi c R RidLI CBF. Li Col (Reid) J C Allen MB ChB FRCS L( Cul P R G Bidy MBE RIFLES (ieiired 15 OLiobtr 2025) Lt Lul M Claydon IIAML Li Col (Reid) N C L. Daw¢s Irelired 15 Ociober 2025) Li C(Il {Reid} L M SIG Kiike l)hD 1.1 Col W.1 D Well% Rll.'l.l-.% (ielired 15 October 2025) Maj A C Ma%8cy QAILINC Maj (Rctdl P D Shannon MBF. CAMU sqn l.dr D H Heath RAF Sqn Ldr J tireenald {Retd} Mr J H Madden Mr A M Massey (retirtd 15 Octvb¢r 2025) MrSRPryoi Mr J I, M Wooldiidge Exeeutlvo Dlroetor L( Col (Reid) Dr Manin Gliniecki QGM. BTh, Bsc, MA, Msc, DPhil Oxf. GOVERNANCE GuverDiTh¥ DucumLJlty. The and ArtiLles of AssuLiatiun of SASRA weie illLOtpoialvd the 29ih vf Jiille 1937 aiid updaled by 5peLial resoluljon in 202_3, wknLh illLotpoialed Mis5 Dalliell's Soldiers, Huilles {MDSHI. Under tlie Conipanits Aet, tlie Associatioll was incoryorated as a Cojnpaiiy litniiLd by guarantLY and noi having a share capital. 'I'hc Gov¥rning Docuin¥nts s¢1 out the objc¢ts IOT whi¢h th¥ Association is cstablish¢d and Iiow it is io b¢ managcd. Council. The 202? special resolutioD set 8A8RA trnstees. alsi) known as Council members. to be ni) less than R and Do more than 16 personnel. Louncil fully tr8nsiiioned from ihe previous figures of 12 and 24 respectively and by Dw¥inb¥r 21Tr25 Loun¢il numbcT¢d 13. Council ar¢ r¢spi)nsiblc lor th¢ Associaiion's OVCTall gov¢rnanc¥ and lia% scv¢ral sllb-ct>mmittccs. such a% thc Finalicc and %tratcgy 8ub-CoJnmittees, c%tahlishcd to %llppi)n its dccisii)n-making. It) 2025, it establi%hcd a suh-committcc to rcvicw SA8RA'$ 14a%i8 nf 14clief and to dclcnninc its fitncs% far purpn%c in the c(kntcmporary age. The Council Inay dclegatc any of its wwcrs tn committccs con%istit)g of tni%tce%. ablc to call on cxtCTnal cxpcrtisc. Such commIttccs conloTm to all Council-iinposcd rcsulations. Uiile5S Otherw15c dctcrmsncd, three shall bc a quorLitn. Que1105 aiising at any rneeling ale decided by a rnajoTity of voles in case ol-an equality ol. votes. thc Chaitillan h05 a ¢asting votc. Page 3
S.A.S.ILA. REPORT OF THE TRUSTEES for the ear ended 31st December 2025 Electlon of Counell member<ru51ee5. The Council mav apw)ini a suitable trustee until thc next ordinary general mccting. when hc nr shc will thcn bc cligiblc foT rc-clcction. At thc ordinary gcneral Jnecting. hcld cach ycar. trustccs that hav¢ s¢rvcd for thr¢¢ y¢aTS will r¥t] bui will b¢ ¢ligibl¢ for rc-clwtion. Only mcmbcrs of th¢ Association are eMpowed io vote in such ele¢tions. New trus¢Les at¢end induLtiot) training Loviring iheir roll. risponsibilitiLs, bligativns, d¢t#ild #Llivili¢5 and any issues ol. lh¢ Association. They ar¢ ¢nLx)uraged io all¥nd ihird-pariy trailling. neLessary. Authority to Operate. SASRA and its Sciipttiie Readers ale aiiihorised lo operate by the Ministry of Delence and sponsorcd by it% chaplaillLy branchcs withEn Ilic Anny and RAF. undci a McmoTandiim of Ilndcistanding and Cjcncral Administrativc InstrLicliotl. Tcspcclivcly. 8A8RA is a mcinbcr i)f thc Council of Voluntary Wclfaie Work ICVWWI that cxi%ts an &ssociatii)n of charitablc organisation% pinviding wclfarc scrviccs to thc ATmcd Forcc%. MANAGEMENT ASRA cmploys livi %alaricd and onL non-excLulivc l)irLctt)rs, a¢Lountablc io Council, and rc%ponsiblL lor ILading. andbjing serving the AssuLiatiun, as well as deliveTing 15. vision, tnission and siralegiL ubjeclive5. The Council Ineels at least three limes annually in ordinary council Jneellligs, one ol'whJLlI is also t]ie Aiijiual (reneral Meeting. l.,xlrai)rdiiiary CouJiLiI ineetin&% tnay be Lalled a% requirtd.-l-he C(>uneil Jnet three lime% in 2025 to pr()vide governance. givL %tralLgii-Icvel guidanLL and dL¢i8ion%, and dLliver 118 rc8p<)n%ibililic%, in order to su%tain ¢hc A*s()iiation. LoiinLil c(InfirnJLd ihe vision, mi55ii)n and siraiegic (JbjeLlives of the AssoLiaiion, reviewed slrk)l¢¥ic-level risks, conrinued i(?Ilin¥ rL"vi¢w i)r c()unLil-ILv¢l p(IliLi¢b and nvw Le15 LIS r¢visLd ()fcuunLil members. VISION. MISSION. OBJECTIVES AND ACTIVITIES VISION Foi every serving Tnernbei of the Britlsh Atmy and Royal Air Force {RAf) to hear the gospel of Jesu5 Chiist during thcir pcriod i)f service. MISSION To spread the saving knowledge of Lhrisl among ihe serving personnel of the Army and RAF. OBJECTII'ES Consistent wilh SASRA'S chariiable objecis. the Council's strategic objectives are to.. susiain hisiorical legaey and senior PalTonage. hold 10 a d(rinallY ollhodox Basis of Faith, share ihe gospel effeclively wilh Service personnel, suppori SeIvi¥¢ CllliSlJalls Jii peisoijal wJlJitS5 ¢vallgelisllL Lonliibute lo Ihe spirilual dnd maleiiul wtrllaitr ol. ServiLt peisonuel, Truw Reader numbeis tu tel reqiiitejnents aeioss tlie Atlliy and RAF. place Readers to achieve maxiniiim Jmpacveffect, bc tinancially viablL and sustainablL. manage rL8nurccs {human, linancial, mat¢riall ¢ff¥ctiv¢ty, and be PraYCr1]Y dcpendcnt on Ciod foi blessing_ Page 4
S.A.S.ILA. REPORT OF THE TRUSTEES for the ear ended 31st December 2025 Publlc Beneflt. Olli main activities llndenaken to funher our pose5 for the public benefit were-. communicating th¢ gosp¢l of Jcsus Christ to scrving mctnbcrs of thc British Arniy and thc RAF togcther with their dependlTs. assi51ingJ military chaplains. chaplaincy and welfare team5 in the provision of spiritual attd pastoral 5UPP()rt to servinb personnel: proinolinb7 jnleidenoininalional Lhtislian Ivlliiwship, and ihu5 enLoufabSinb Ihe b¥llefit5 of Lotnfflunity," encoiiiagiiig believe15 lo live a Chiisliall Ille in accordanLe wilh Biblical principles, In Submission to the law and in a tnant)cr ihal is loving. caring and compas%ionatL'. and stiengthcning Iclations bctween Inilitary personnel at)d local cornmunities. While our main effort 18 %uppi)rting JITlti8h military peTqI)nnel and tlieii. familie%. we offer OUT minislry to t]itTr%e adjaeent whcte appropriate and TLgaidless ol-rallk 01 class. £itliLIa1 slalus, eduealjollal stalldard. ethnicily, mental, llilellectual or pliysical abilitlLS. SLxual and gLJider orJLntations or bLlicl'. ACTIVITIES To dtltver nur vi%ion. Inis%ion and objeclive%. thereby providing piiblie henefil, SASRA tinplny$ 8cripture Rtadtrs, who are VClLYans Iraincd in iheoli)gy and Chri%iian mi4%ion. "I"hLy dcploy to muliiplc military ba%L8, camp% and %iations throii¥ht)Iii ihL IIK und abroad. DLyl()yments are based tsn Seeking mttximum iniernLlii)ns with as many mililttry pLT%()nncl larniliLs Pii%siblL. and in Lunsuliuliun with Liuf iJLiIjiiiry LhdplLiinLy bPUnStirs. Duiit]¥ lh¢ y¢ai. SASRA engaged in ihe following primary aciivilses.. Gts¥pel Mlni$try. Th¢ Lore role of SLripiure Readers is io share the go51 to troops and their f#Jnilies, whiLh we did at Inor¢ Ihan 25 tnililary ¢5lablisl)meii15. Diiiin8 Ihe year, SLiIplii Ileadeis.- piovided spirilual inslniLlivn, wellaie and SUPPOTI; led ()ne-lo-one disLiJ%¥iolls and Bibl¢ 51udies lor bL)Ih Service pets()nnel and Il)¢ir laniilies," PTeaLhed SeTm(Ins and gave 13ible lalks," and engaged in individilal and collective piayei, devoti(>ns and disciple%liip. 'I'ho%e that iesponded positively to thc gn%pcl havc bcen cncollragcd to bccomc active mcmbcrs of SASRA. a commiinity of bclievC and a local cliurch participant. Wellbeing and M'clf#re. Scripiure Readers regcted io all wellbeiiig and welfare interactioiis sensitively and respecifully in 2025, engaging willi miliiary personnel and lamilies of all baLkgrthunds, belief5 and lifestyles, extending pasloral care lo the pafliculai needs and silualions Ihey wiin¢5s¢d. I'hib imwirianl PlilLli¢al ininiblry, building Iru51worthy rtlalionships. eatllll)g resptcl and liiend5hip by patienl, long-tertn engageinenl and signposting ptoplt lo relevant agencies loi liirtl)ei wellaie support coiitiniics to be an iinportanl public benetit. such ensagcnienl and pastoral suppori is impactful and helps soldiLYS and aviators build menial resilienee as etTeclivc members of the Arnied Forces. Te#eblng Tralnlng. Sciipiure Readers assisi wilh leaching and training. such as involvemeni in explaining ihe moral componeni of fighiing power and whai li mean5 to lighi jusily and mllke eihical decisions. Our SLripiure Readers have been very produLlive di51ribiiiing Bibles. bibliLal Iracis and pamphleis 10 asgLSI Service personnel in iheir iillde151allaJllg ot. ubj¢iliv¢ iiioial valu¢s ilie lle¢d tvi a SPllLmal L]iiJieiJsiull ill tlieii liv¢s. Tlity liave iaktll evely opportunity lu explain, defend and Loin]nend the chtisll nits8¢ of salvatioll throusih Jv5us Chn"sl thal aligns perleLtly witli iht value5 alld slandatds ol- the UK military. whiLh taLh 501dier and avialoi leams alld llien revises atuallY. EventE %A%RA organis¢d S¢VCTal high-prolil¢ cvent8 during thc y¢aT in¢luding.' I I I 'C)llr l)ay', th¢ As%a¢ialion's riagship Cvcllt foi supportcts tn cclcbratc thc ministry.. 121 l.'dinbiirgli Tattoo. whcrc wc support military staff with a canteen mini%try and %cripture Readers, support.. 1.3) several outreach occasians tn expn%e SA%RA to Christian ¢(Fmmunities and people that Inay wish to pray. volunieer and financially support ils mission.. and (4} fundraising and spon%or%hip activiti¢s. As %A%RA 8¢¥ks to grow its serving m¢rnbChJp. a pili)t ¢v¢nt ¢all¢d 'Equip' took pla¢c during thc %uJnmcf. wherc scrvit]g Jncmhcrs and othcr Jnilitary Cliristians attcndcd ali)ng8idc nur Ministy Dirccti)rs and scveTal scripTe Rcadcrs Thc aim was to ct]collragc at)d cqllip attcndccs in living ollt and sharing their faith in the Artncd Forcc%. The evct)t was Success]. will bc rcpcatcd in May 2026. and scck growth in attcndajicc. Page 5
S.A.S.ILA. REPORT OF THE TRUSTEES for the ear ended 31st December 2025 ACHIEVEMENTS AND PERFORMANCE As a Christian charity with a ministy to thc Arni¢d Forces our role is to cngagc with as many Scrvi¢¢ personnel and their fainiliLs as posbibli. proilaimiiig thL gospLI. dislipling, providing spiriiual wLllarL, Lmhaiiiing wLllbLiiig and improving m¢nial rtsilienL¢. Depl(iym¥nis last year Siripiurr Readers acL¥55 Iv appn)ximately 60.(K)O S¢rvi¢e per50ttttel #nd their I111¢S IL living in Servile b#mily AL¢ummvdaiiott1Sb'A). At initi#l Iraininbj esldblishments suLh s II'L LalleriLk A'I'R WinLI)¢ster, oui SLiipluie K¢aders h1ve aLLe55 lo every reLtuil Ilial enl¢is aDd ai< abl¢ lo engage as part ol-Tecniil SPlTiliial neLds and ethical Iraining. AcLess lo m051501die15 15 511nilaT al l)hase 2 iechnical training al place% ch a% MOD l.yncham Othei Scriptuic Rcadcrs arc deplnycd at largc niililary cslablishmcnt% whcre thcy havc accc%s lo bctwccn 800 and C)500 Setvicc pcrsonncl. and whcrc thcy inu1 priaritise engagcmcnts alongside i)theis wit]iin ihe %pi[ial. wcllbcing and wclfarc SLlPPiIrt afforded tn nur Inilitary. In 2025. aold 950/0 of all new recruits that attLnded an initial presentation by oiie ol-oui Scripture Readers accepted a Bjblc or NLW TLStaJnLnl-Ihat is OV 2500 pcrsonnLI. 'fhe followilig wLck. whieli is not compulsory altLndance. approximalLly onL-Ihird rLnirnLd for a %implL ihurLh sc]vicc evLmt <ind li) hLar about Chri%lianiiy. ()vLr hall-ol-IhosL dsked staled thal they would like (u know tnoi< abvul ihe Chri51ian fdlth. whiLh allows our SLriPture Redder5 lo enbjage. On bases and slations. SLriplui'e Readers deljvered ijn average ol-17 Bible stiidies per week. 12 Iollg Lourses SULh as Christianityllli)pe l..xplored, 20 %liorl Lu%lom-made Lour%e% f&r partlLular group%, liad over 91) one-to-one LI)nVeatiOn eaih wcLk about faith, plu% additi()nal w¢lfarL and wellhLing inlLraciion% and %ignp()%iing i)f %oldicr% and aviator%. Scripwre Read¢i% coniiniie io Ènn()vaie. expli)iling oiher relaied aLlivilies such pop-lip Larés, Iilm rtighis. enieriaining i h(irnL. and LILIiIL' nLW ()PPI)TIIJTiIIILS I() shHrL IhL ¥()SP1 b) ILmpiin¥ IICUIS (Ir simpIL fi)(Id and diÈnk." m()Tnin¥ atternoon leas ihai regularly bring 20 10 120 people along-lheir success promoies further growih and supwri from other miliiary welfare agencies. ATR Winchester buptiJm5. 13aplisrn, an outward sisll of inward rellewal, are one measiirabl¢ iillpaLI ol'ihe work of our SLiipluie Readers in helping PFepaie AIiJLed F'(iiLes pei%()nntl spiriliially l(Ir such a life-LlianBin8 evenl. Durins 2025, with thc help of oui lon8-setvin8 Scripture Reader ai A'l'll WinchesleT, wheie new recruit.s iindcrgo theii 13_week ba%ic training COUTSC. SA%RA's impact was iemarkablc. Alongsidc marching. shooting. map Icading. fithcss and ricldcraft. trainccs cncnuntcred snmct]iing cvcn morc powcrful. narncly t]ic gaod ncws of Jc8u8 Christ. During 2025, many recruits %howed a real desire to %eek meantng and purpn%e iii their live%: the work of our Seriptllre Rcader. shaTing the gospel. was shown to be transforinaiive. In October 2025 alone, 26 recruits were l)aptised at ATR WinchesteT'S chapel. where our Scripture Reader works lull illne supptsriing them-14 on one Sunday alone. Al tliese baptisms. hundr¢ds vf Lolleabjues Lom¢ and atttnd voluniarily. Edinburgb Tattoo. SASRA deployed Sciipture Readets and support stal'l. to as5l51 with the Edinbur8h Tattoo durin8 laie Julylearly Augu%r 21125. li wa% an opporlljnity tor new Scripture Readers io bL mentorcd and for office gtatl to wiiness the practical work of %cripmre Readers, so gaining greaier undersianding and appreciLiiion of their owi Loniribuiion 10 SASRA'S mini51ry. We ian a Lanieen-based minis(ry. serving hundieds of sp()nsor-donaied hoi and cold drinks and snacks to those involved in (he event, and all wilh a goal of sharing ihe gospel wilh troops rehearging for this world-leading eveni. Outreach aL(ivilies 10 IoLal LhurLhLS k)Iso look place. Our D#y. The annual 'Oui Day. luok place on Smlurday 20 Strpl¢mb¢r 2025 al Duk¢ Siivel Bdplisl ChuTLh. RiLliniulld. Theit were around l(M) ill-peisoll atlelldees. with a co]nbined numbei walLh9 live online or a Tecoidillg later of over 600. Coiiunellts were very lavourable, with most being iiispired by Scripture Readers, stories of evangLlisin at)d disciplL%hip, and thc POWLYfiil tcstimoiiics ot lorcL% pcrsonncl. In-pcj'son aticndancc has bccn diminishing in rc¢Lnt yLars, ¢ataly8cd hy th¢ Lll¢cLs of tliL Lovid-19 pandLmic, hui has grown ovcr thL l&st two ycar8. Our Day 2026 is schedulcd for o_3 Octaber. Digiti$ation. Transition to more digital media ¢ommuni¢gtions continued in 2025, exploiling thnologIeS and opportunitic.s such as radio. 'I'V, Googl¥ Ads ctc. W¢ arL se¢king to ¢ncourag¢. as mueh as possibl¢. all to cngag¥ with thc ncw digital f(>miat% and wc a&sist whcre ncccs8ary. Wc shall continllc to supp(>rt thn%c whi) prefcr hard cnpy as much as passiblc but for those that can acccpt digital formats. we scck to providc the be%t po%sible quality service and contcnt. Page 6
S.A.S.ILA. REPORT OF THE TRUSTEES for the ear ended 31st December 2025 R15k Management. The straiegy sub-committee advlses Council on risk managemeni policy and straiegic rcquiTcmcnts. Ai cach of thc tlircc Cnuncil mccting% during 2025, Coujicil meinbcTS rcccivcd an F..xccutivc bTicf i)n th¢ risk profil¢s of oa¢h stratcgi¢ objwiivc. thcir ir¥nding and mitigations whcr¢ appropriatL. SASRA'S I'isks w¢rc. therLfL)rL, managLxd appropriately and in ac¢ordan¢¢ with Ch111 SORP. BLst praitiLL risk managLmLnt methodology was used.. identify. analy5¢ and a55ess, aLt and munilor. SiglliliLani risks. id¥nlifi¢d alld mitlg?#l¥d in 2025 wer¢.. RepvtwtlOD. A LhallenbTe lo SASIiA's tni55iun, vulues and Basi5 of l.aiih Luuld b¢ n¢8alively expluiled by thos¢ wishins liaiin on a laiih-ba5ed organisalion like %ASRA. Ncgalive publicily Lould adve15ely al'lccl our repillalion, rclalioi)ships with and accc%s lo thc ATTny and IL4F. aiid uPpOrtct backing. Risk 1% miligalcd by annual military and Ihird-patiy traiiiing of pcrsoiincl. Icgillai takChn1dci cngagcmcnt with military chaplaincic% aiid authoiitie%. candidate selcction. culra] awarcnc%s tiaining and %criptuial gllidancc. We also Inaintain our TCPUtatian by bcing tianspaTcnt in our requesLs fi)r proyer and fujidiiig support. PTiJnaTily ihrougli IDdividual supporters, ehur¢he8 and tru8ts - legacies also reccivLQ. We would never seek suppoil froin any ViLh)erable person and reduLe oui risks by nevet liindrai5in8 via tLleplionc or coJitractJng out tiindraisijig. Wc have a rigoroiLS salLguarding policy, rcvicwLd aiid accLPtLd by Coiineil, and our Scriprurc RLadLrs are trained and adhcre lo MOD policies when. in those very isolarLxl cases. they engage wilh under 18-yeais-old reLruils. Basi% of Belief. While %A%RA'% Tlasi% of Dtlief ha% retnained unaliered %inLe inLeption, we liave underlaktn a review t() Ln%urL Ihal il 1% fully ndL1nd and remain4 lit for i)Urpo. in the Li)nlLmpi)rary Culrurc. "I"0 thi% Lnd, a sub-c(¥mmiiiee was fom)ed lo review ihe Basis of Beliel.. which wa5 fiirther sLniiinised ai the SASRA workers. c(InfcrLY]cL in 2025, whLTL' all SASRA Lmpli)yLLs ¥uihcr. SLripiuiL R¥dl[5 fullin¥ ii) untJLi%ianJ (11 tJdhLIL l() ()ur B(IbLS of Belief could underniine ihe Associaiion's work and suppori. Risk is reduced by good iniernal leaching praciices and opennes5 10 debaiing sensilive issues. IL4F Scripture Reader5. Since 2022, when there was only one Reader deployed with the RAF, p05ilive en¥a8emenl with RAF LhaplainLy has iesiiltvd in ihe reLniilm¢nl ol. seveixl addili(Inal Readeis 1()T ihe RAF 50 Ihal Ih¢r< are n(Iw loui %crving al ljii7.e Noilon, Wllleiiiig, Ilen50n ai)d (Idiliatn we also employ an RAF veteraii in an ATMY post, such has bccn thc grow1h. Serving Memberqhip. 8A8RA %erving MelnheTpartne[$ are %erYing military per%onnel. including reservi.%ts. who ore distiiiguislied froin other supporters because of their unique opportuniry to share iheir faith with colleagues and live out Iheir faith on aLlive service. Meinbeiship griiwih slumbled in reLenl ye#rs lollowing the loss of the membership s¢crelary. Low in¥mb¥rship IS LL)nsid¢r¢d a biralebTiL-l¢vel risk Iv SASRA'b sust#inm¢ni and in 2025 we besjan a can)paign to grow serving ineinbership Ilirough i)¢w initiative5 e.g. 'Lquip' alld seeking lo ieLruil a patitiille secretary {which we did in January 2026). As of 31 Deceinbei 2025, we had 19 serving tnembers and 8rowing. Fundralslng #nd sustalnlng In 2025. SASRA income had remained relaiively 8taiie in the five years up to and inLliidin¥T ?02.1, so deLieasin¥i in real ternis due io inllation. A tundraising campaign was iniliaied in 2024 10 False an exira £200K io fund four more Scripiure Rellders. The #mouni was surpassed. achieved by (he successful culiurnl realignmeni ol'our siall. to considering fundraising as a minisiry. equal in importance 10 oiher minisiries such as prayer. woisliip eli. How¢vti. Itvel vt. iJii1¢11se io (uiid Ili¢ obje¥lJv¢ 10 8iow Siiiptuie Readtis ll¢ril¢a iv be susiaiiied i 2025. ID 2025, while the inLume was 1tr55 than 2024 wheD we had d Ldtnpdibn Iu bTlUW fund5, il was hibThtrr than pieLeding years and sulLicient to Susta oiir illLiea5e in SLrip1e Readeis. We beLame mort agile ill 2025, addp1j out ciilture and rttraining our stsl'f ill modem Iillldraisiiig protocols and techlliquLS, neetssary lo achitvc the Council's vision. rni8%ion and objLclivcs. Uur dLYjSjOt)s wcJ'¥ made prayerfully. analyiically, diligently, rctlLclivcly, disccrnibly and bihliLally. 'I'hc up%hi)t h28 h¢¢n tliat w¢ now havl morc salaried %criptur¢ R¢3dL than in Ihc last C)5 yvars. thcrefoic able to irnpact Inore Amicd Forces pcrsonncl with spiritual rcsilience and mental strcngth. Page 7
S.A.S.ILA. REPORT OF THE TRUSTEES for the ear ended 31st December 2025 PLANS FOR FUTURE PERIODS S¢riptur¢ R¢ad¢r Growth. Th¢ Character of ¢haplain¢y and military lifc is changing. Anny and RAF chaplainci¢s now see an in¢reasi in muliifaiih chaplains and the addition of Non-R¢ligious Pasloi31 OlliLers INRPOs1. SASRA will Lunlinut l(1 adapi tv ¢h¢ Lhan¥¥s and su51ain the uni(iu¢ r¢l#lion511ip that il ha5 wilh military chaplains and military weif#re serviceb wiihvui Lumprujnisillbj its ObjeLls #nd B#5is ol. Faith. SASRA'S slrate¥iL plan Ltsniinues lu be lo s)ruw Ihe nutnbe15 01'SLriplur¢ Ileaders lo tn¢¢l ihe a55ess¢d ne¢d lo aLhieve oiii vision and tni55iun p055ibly Liimp¢llsale lor the rediiclioii it] Clirislian witness Irom mililary chaplaiTrLy. One new Sciipluie Readcr is conliimed as 51ailing in Ihc mInC[ and our 2026 Su%tain Plat] sccks lo mect thi% %u8lained growth. following OUT succcsslul 2025 Tran.%ilion and %u%tain Plan. Council at)d prcsIdcnt. mcmbcts and suppnrtcr% ale bcing cncoiiiagcd to scc ndIa]sIng as an cs%ciitial part of this c8%ential mini%try to Inilttary pcrsollncl. Rccrllitmcnt will scck to balat)cc mnic bcncficially the split of Amiy and RAF scripture Reader%. full and parttime. paid and unpaid. We shall continue %eeking opportunities lo liave Sciiplute Readers deployed oveiseas. SASRA larye-leale mobili*#tion plan for major conflict. A% Ihc M()l) makes contingcnLy plan% for maji)r Lonllict. seeking lo en5uie iapid LTrowth in Loinbi2(dnls Should the need arise, SASRA 15 also revi¢iviIib huw il Lould suppun the Army and RAF by a siiiiilar rapid growth in SLripture Readers. A Readu's rew)rt has been brieled and is now beiiig developed by the l..xtclltive for consultation with the Louncil. Strving Membership. A5 desLrid above, low membership of serving personnel is considered a slraiegic-level risk to SASRA'% .%usitllnTnLY]i. Thr()u¥h iiur updaiL'd TnCL1Sh1p r(11 sLTvin¥ miliiary pLrs(InnLI, a paiiiiinL SL'rving Members Secreiary and exploiiaiion ol. digiral communicaiions. we shall Lonrinue 10 gaiher new serving members. PTinLipally ihose ihai OUT SLtipmre R¢ade15 havtr dev¢lvp¢d eleaT relalion5hips wiih. As our newesl niembeTS depail Ir#inins7 urbTani5#lions and unils, we Shall maintain Lvntaci #nd suppori dibLipleship tsl. Ihem, ihai they Lan srvw in laiili and spread ihe y05pel - Ih¢ii PFayeFS and hopelully linanLial SIIPPOTI will lullow. Wv have sel 01115elves a lai8el lo have al l<as1 100 5ervin¥ m¢tnkTS by December 2027, wilh a 5lr¢lch objective 01. 150. We have iecenily grown liorn 17 In 2024 10 19 and continue 8rowin8. Digital Fundraising Capability. Wc have idcntificd a nccd for dÈgital fllndrai%ing capabtlity and capacity. and to u%e fundrai%iiig and markcting tactics tn in%pire supporteT engagement. ftnancial giving and l&sting coinmitment to 8A%RA. We shall seek to develop this capabiliry. flexible working ¢onlracts for ScripwTe Re9ders and sthff will allow us to employ more volunteer and parllime personDel thal could deliver the same objeLiives with less relianLe on inLreased nnual inLom<. Financial stability. SASRA'S 2026 Sustain Plan seeks to ensure Ilnancial stability thi5 year and prepaie the As%ociarion for tonhcoming yearg. We shall coniiniic to %LYk three lanes ot gospel work,. praycr, volunteering and funding. in order io ensure that we Oplimise our ti(xlly minisiry. Revli'al. The Bible Sociery's repoll of a 'Quiei Revival., published in April 2025, Ihough based on tlawed data, has b¢en demonstraied by a marked rise in iniere51 in ihe Chrislian faiih Irom Service persomjel, Pallicularly in the 18-25 age wuup. 111 2025 w¢ aJ51Jibuied iiivi¢ Bibl¢s alld liui1S Iliaii previous y¢ais, baw illuie bapijsllis alld liaL] iiivie eusydf bTernenls with ServiLe petsunnel and their farnilies, with uui iIiLrease iD tmploytrd SLripluiv R¢ddvrs. By whalever ]lleasure. SASRA pldns lo jnailltdill engdgTtrnenl wilh At]ned FoiLe5 personal al die highest lempo possible. Page 8
S.A.S.ILA. REPORT OF THE TRUSTEES for the ear ended 31st December 2025 FINANCIAL REVIEW Financial Summary. As Cliristians. wc arc profollndly grate7 fnr thc J.i)rd's pri)vision through the giving of His p¢opl¢. A suinniary of our financial position. in coinparison to 2024, is as follows.. 21124 £2,067,947 £1,359,C)88 £707.959 £1.050.991 £51889 £585.156 £112.591 Total InLome 'I'olal Exp¢ndilure Nel l)OSLlion Donations Ciift Aid incomc l.cgacy incoinc Investsnent income ExcLplional iten) transfer OI-MDSH funds £1,664,962 £1,56.3.140 £101,822 £99_1.4Q7 £6_1.726 £1_31.499 £161.508 -19.49/0 +14.94Yo -85.620/0 -05.480/0 +18.250/0 41.170/ +21.810/0 £190,279 -I(M).OOO/o InLlude5 exLeplional gain of £190,279 fiorn the transfei of iotsl funds fro MDSH following ihe ¢er wilh SASRA 011_3 l DeLeniber 2024 belore investment 8ains and los%es Dividends received from sioLk markei investments increased £927 {+1.950/o11() £48,452 and renial income increased £12.842 (+16.24°/0) iu £91,875 w¢ were abl¢ 10 i¢ni oui s¢veThl ofuui prvpetlies shuri-i¢rtn ledbes. RvserTres Policy. Council policy had hislutiLally been (hal SASRA should huld beiween 3 and 6-monihs' opeialional expendilure. in Lash or near Lash tu Lope with Lash llow fluLiuaiiuns and any bhorl-iemi, unexpeLted de]nands buLh as a slidden. dTaillaliL lall in dividend incvrne. 'I'heie Temains iisk ihai linaiiLial Bivin¥ be hindeied by turbulenl nyarkels (w(iildwide laril'ls). inleniali()nal Lxiiillicls, Luls lo beneli15, p( giowih and inLieas¢d cost ol. living. %(i. C(iunLil accepled a new Re5ervcs Policy in ()clober 2025. The pielerred target is iiow loui month5, allowing Ilexibility but gllarding again%t tying llp cxccs%ivc fund%. lJsing SASRA'% ieccnt hi%toric CxpcndltiC and noting Ihc incieasc in salaricd Scripturc Rcadcis during 2024 and 21J25. with a coic opcrating co%t (cxcluding Ic%trictcd project spend) of £1_2 millinn per annum. rising ti) £1.5 millinn. then reqeTYes of £5(10.(X)O liave been deemed apprnpriate. Property. Where possible Scripwre Readers are accomm(MJated in 5FA, placing them wilh the communities to whiLh Ihty Illiiii51er. Sl,'A ib normally pitivided Iv SASRA slal'f al ¢ntiil¢d ial¢s Ihal ar¢ low¥r Ihan inaikel fdle5; Ihis benefit is rellecled in Ilie accounts a5 Intangible Income o1.£51,-339. '1'here 15, however, grealeT deinand in partirular localioiis lor IiighcT priority serving pe150n]iel Il)al reslricts S1.'A availability IOT Sciipttirc ReadeTS and 50 we iiiu5t purchase suilable properries tor thcir rcquiremenr.%. "I'he AsoLiarion also hold% hoiising %t()ck tor thL conducr ot itg mini%try. I ni%rcLS recognise rhe need to provide additional housing for our addilional Scripmre Readers or exisiing ones who may have io move from miliiary SFA. 'fhis requiremeni can be mei Irom iinbifenLed I'unds. Alloetttlon Apportlonmtnt CostK SASRA benefilg from ihe voluniary service given by such as Irusiees. advolaies loiul JeyitsrJiiativ¢s. Maiiy vol]1¢¢i5 il100se lloi io iliiiKI) le8ilJiiiai¢ ¢xpeiis¢5, aldiou81i ility ai¢ ettLLiuia8¢d in thtr5e Las¢5 tu mdke a Llairn and donal¢ the plted, in older lo bellgr ItfleLI al l¢dSt 50tne ol. the true Losls olnLEllllIib the AssoLialion. Tht 2026 Siislaill Plan may see oiher all(ILalion and app0ilioEjell( costs. Page 9
REPORT OF TFIE TRUSTEES ror thc ear ended 31st December 2025 STATETrIENT OFTRUSTEES, RESPONSIBILITIES The Tru5lees are responsible for preparing the I"ruslees' annual report and the financial staiemenis in accordance wilh applicable law and United Kingdom Accounting Standards (Unilcd Kingdom Genernlly Accepted Accounting Prd¢tice). Company law rcquires the Tru51ees to prepare financial Slalernents for ea¢h financial year. Under comparby law the Trusiees mus¢ not approve thc financial 51aiemenis unless Ihey arc saii5fJcd thai Ihey give a Inje and fair view of the siaic of affairs of ihe charity and of (he incoming resources and application of resourc¢s. in¢ludin&Tr it5 income ad expenditure. of the charity for ihe year. In preparing financial statcjncnts Ilie Tru51ees ar¢ required io.. sel¢¢t suitable accounting policies and then apply them consisi¢nily; obsprve the rncthods And Principles In ihc Chariti, SORP., niakc judgements and estimates ihai 3Te reasonable and prudenl; and prepare the financial stalczncrt15 on ihc going conccrn basis unless it is inappropriat¢ lo presume that the charitable company will continue in business. The TTUSlees are responsible for keeping adequate a¢¢ourtling records Ihal are 5uIYi¢teni to show and explain the charity's iran5aclions and disclose with reasonable accuracy ai any lime Ihe financial p05iiion of ihe charity and enablc them io ensure ihat the financial 51atemenis cornply with Ihc rcquir¢Thenls of the CornpaDi¢s Act 2006. They are also responsible ftsT safeguarding the assets of Ihe charity and hence for taking reasonable steps for the preveniion and detection of frdud and other I¢818[]11¢S. Trustees, Statemen¢ Each of the Trustees has confirmed ihat 50 far as ihey are aware there is llo Televan( audii inforrnaiion of which the auditors are un?ware. and that they have taken all the 51cps that Ihcy ought to have iaken as a Trusiee to make Ihemselves aware of any relevani audit infomaiion and lo establish that the auditors are awore of that infomation. The TTU5tees have also ensured that Ihe financial stat¢Tnenls Ctsmply with the Chariiies and Trustee Investment ISeoiland} Act 2005. AUDITOR The auditors. Shaw Gibbs Audii Lid, will be prow>s¢d for T¢-appoiniment ai ihe fortheoming Annllal G¢n¢r41 Meeting. Approved by order of Ihc board of tru51e¢s on ........ ..... .-.... and Signed on its behalf by-. Col J Il, Lewis- Trusl¢e Page 10
REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEES AND MEMBERS OF S.A.S.R.A. Opinion We have audited the flnancial statements of S.A.S.R.A. lthe 'charilahle company'l for the year ended -1 1st l)ecember 2045 which c(Impri%e the %thtement of l.inaJJLial Acttvitie%. the Ilal&ncL 4hLet. the La%h l.'l(>W %tatemLnt and nntcs tn th¢ tinancial tatm¢nt, including a 8urnmafj' nl- significant ac¢nunting ]x)Iici¥8. 'I'h¢ financial rvi)OTiing framework thar ha% bLcn applied in their preparation 1% applicable law and lJniicd Kingdom Accouniing Srandards (Uniied Kingdom Generally Accepied Accouniing Praeiice). In our opinii)n the finaE]¢ial st8tements'. give # true #nd fair view ()i- the slate of the charlb]e ci)Inp#ny's arrairy as a¢ .I15t Deleinber 2025 anLI of lis inc(Iming It5()uic¢s and applLLalion (Il'ies()UILeS, inLludin¥ ils inLoine and ¢xp¢ndituie, li)[ th¥ yeai th tndvd; have been propeily PTepaTed Iii accordaiice with Ilniled Kingdoin liei)erally Accepted Accounlin8 1'Taclice; and have been piepaied in accordance wjih ihe reqiiiTenienis ot- die Coinpaiiie5 Aci 2006. Ihe Chariiie5 and Trusiee Investmeiit {%cotland) Act 2005 and Rcgiilation 8 of the Chaiitie5 Account5 (Scotlandl Regulation8 21106. B8518 for npinion We LoiiduLled i>ur audit in ac¢ordance with International Standards (m Auditing {UK) {LSAs {UK)} and appliLable law. Our r¢sponsibililit5 under ihose standards ar¥ fiiriher desLrib¥d in ihe Auditiir respunsibililie5 for ihe audit vf the linancial statcincnts scction of OUT rcpi)rt. Wc arc indcpcndent of thc charitablc cnmpany in accordancc with the e(hiLdl Itquiiemtnls Ihdl dre ielevdnl to OiJT audil ol- the Iina5]Lial slaletnenls in Ihe UK, I]ILluding Ihe bKC's EthJLal %tsndaid, alld we have lullilled our other ethical respon4ibilities iii accordance wilh t]iese requiiemenls. We believe tlial the audit evidence we have obtained is %utlicient alid appropriate lo prTrvide a ba%is for i)ur opijiion. Contlusions r¢lgtitb% to ¢oneern In audiiing rhe Iinancial %18rLmicni%, we have concludLd that the trusiees. use ot the going concern basis of accouniing in the preparaiion ot ihe tinancial staiemenrs is appropriaie. Based oll the woik we have peifunned, we have nul idenlilitd any ]llatttial unLerldinUes ielalit)b to evtnls 01 Londilions that, individually or colleLlively, illay cdsl significant doubi on ihe chaiitdble Lumpuny's ability lo continue as a ¥oin8 concern for a pcriod ol-at ILast twelvL n)Otiihs fron) whLMi IIIL linajicial slatLincnts arL authorisL'd for issuL_ Our respOnlb1]it1es and the responsibilities of the ttustees Wlth respect to going concern are described in the relevant secrion% of tliis repon. Oth¢r information The trusiLLs are risponsiblL for ihe oihLY infonnatiL)n. The othLr inforniation ¥ompris¥s ihL inlorniation inLluded in the ArUal R¢pori, oih¢r than lh¢ ImanLial st#t¥ments #nd our Rwvri ofih¢ Independeni Auth'tiir therwn. Oui vpinion on lh¢ linancial slaleinen15 does nol LOV¢[ die oihei infonnalioD and, exLept lo ihe exlenl oiherwise explicitly slaled in our iepotl, we do not express ai]y IoTin oFa5suiance conclusion Ilieieon. In connection with oui audit of Ihc financial slatctnenls. oiii Icsponslbility is to rcad the oihci information and. in doing SO. Lonsidcr whether the other inlomiarion ]% maiLrially inconsisieni wilh Ihe IinanLial slaiLmLnl% or our knowledge obL4inLd irt (he audit or olhlnvise appears io be maiiriully misratLd. If wc idLniity %uch maiLrial its¢on8i&i¢n¢ics or apparent mk)Icrial missiaiemLnis. we are requirLd io dLiemine whLihLr ihis gives risL lo a maierial misstsicmLni in the linCI#l slatemenls thtmselvvs. If, based iht work we have ptitotrned, we LonLlude that therL is a maleiial isslatement of ihi5 Other inlorniation, we ate required (o Iq)ort thai fact. We have nothing to report in this regard. Opinion8 on other matters prescribed by the Companies Act 2006 In oiir npinii)n, based i)n the work undertaken ill the Lourse i)r the audit.. the inlomati()n given in ihL KLport of ihL 'I"ru%ice% for Ihc financial year for which the financial %latements are prLpared ib consisteni wilh the linanLial siaiemen15; and the R¢purt ()fihe T51¢¢5 has b¢¢n prep[< in acLurdanLv wilh uppliLabl¢ l¢¥al requirceT11¥. Pagell
REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEES AND MEMBERS OF S.A.S.R.A. Matters on wbich we are required to report bv exception In thL light ol- IhL kn()wILdgL attd iindLY%tandin8 1)r IhL ehtsritable c()mpany and iL% environment obtained it) the course of thc audit, wc havc not idLntifi¢d material mi8%taicmLnts in ih¥ Kcport ot the .1 ru8tccs. We have nothing ro repori in respect of the following matters where the Companies Aci 2(M)6 and ihe Chariiies Accounis {Seoiland) Regulaiion5 20[ las amended) requiieg u5 10 repon io you if, in opinion". adequate and Proper a¢¢ouniing reeord% liave noi been kepi or retuims adequate for our audit have not been received fri)m br#nLhe5 noi visited by us; or the linanLial slalem¢Trls ai¥ n(Il in a¥ie¢mtni with ihe acLvunling records alld Felums, or ceTlain disclosuies ol-Iru%lees' remiiiieialion Specified by law ale not made, 01 we have noi ieceived all Ihe ii)fotmaiion and explanaiions we requjie foi OUT aiidii" or the trustees weie not entitled to take advantage nf the small companie% exemption from the requirement to prepare a Strategic Report or in preparit)g the Retx)rt of the Trustees_ Responsibilitie$ of iru$lees As explaintd inure fiilly in lh¢ Sialemeni vfTnislLes' Respunsibililies, the Inisiees are responsibl¢ foi lh< preparation of thc finaiicial stateincnts aiid toi bciiig satistied that tlicy gtvc a truc and laii vicw, aiid Ini sucli Intcrnal cnntrol as the iru51¢ts dtrlermine Js neLesSdry lo tndble the piepatalion ot. tindneial 5121tmeniS tha( are free from maieiiai Inisslatemeiil, whet]ier due lo Iraud or ettor. In prLI)aring thc tinancial statLmcnL%, thL tni%tCC8 arc rL%pon8ibl¢ lor a$8e8%ing thu charitablc coinpany'% ability to ¢ot)tsnu¢ os a 80¢n8 ¢on¢¢m. dis¢l(>gill8. 4)s appli¢gble, matt¢r% r¢lai¢d t() golll8 ¢()n¢¢rn and using th¥ soins con¢¢rn basis ol- a¢¢ounting iinlc.%s the tru%rces either inicnd io liquidate the chariiablc company or to cease opLrations, or have no realistic aliernative bui io do so. Page 12
REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEES AND MEMBERS OF S.A.S.R.A. Our responsibilitieq for the audit of tbe finantial statements ()ur objL'lIVL% tsfL to i)Iitain rLa8on&blL a%%iifancL ab()iit whLther (he financial gtatement% a whole &re tree fram matvrial misststcmvnt, wh¢th¢r duL l() Iraud nr ¢rr(>r, and ti) i4%u¢ a Rvpnrt ol. thc Ind¢p¢ndcnt Auditor that includcs nur opinion. RcasonablL a8siirance 1% a high ICVLI of a%surancc. bui is nor a giiarantce ihat an audii conductLd in accordance wilh ISAS (UK) will always deiecr a Inaierial missraieinent when li exisis. Missraiemenrs can arise from fraud or error and are Longidered maierial it., individually 01 in ihe aggregaie, (hey could reasonably be expecied io iiitluen¢e the economic de¢isioiis of users taken on the basis ofthese finan¢ial_statement8. 'llJ¢ exienl tv which our proLeduics ai¢ capablc ofdel¢Ltin8 i81a[]Ilg&, including fraud i5 detailed belvw-. Our apptoach ro ideniifying and a5ses5ing ihe risk5 ofinaierial tnis51aialleni in iespeci of itre8ulaiiiies. Including fraud and non-compliance with laws and rcgulations. was as follows". the eng9gement partner ensured that the engggement team eolle¢tively hgd the gppropriate competence, capabilities and skills to identify or recognise noll-Lomplian¢e with applivable laws and regulations: we identilied ihe laws and r¢s7ulalivns applicable lo the Lompany Ihrou¥h dis¢u55i0ns with directors and other managcnicnL and trnm i)ur ci)mmcrcial knftwlcdgc and expcricncc ol'tlic scctnr. we loLused un 5PtLII'IL Idws and iegjuldtions whiLh we Lunsideied l)dve a diieLi material ttleLI on Ihe findnLiai staleinejils ilie operalions ol. Ihe coinpany, including Company law, the Cliaiities Act 2011, data pioleclion, etnployment. and environmental and health and saltty legi%12tion' w¢ 0%¢¢a the extet)t of ¢omplian¢e with the lsbws and re8ulationg identifted above through m4)kin8 enquiries of managcmLnl and in8pceiing legal correspondLncc; and ideniafied laws and rL'gularions were commiiniLaied wi(hin Ihe audii team regularly and the ieam remained alen to inslanLes uf nun-LO]JipIiiiIiLe IhroubFh( the audil. We assessed the SU5Leplibility ol. the cotnpauy's financial staternellts to te[la1 Eni5slaleilltlll, including obiailling aD uiidLrsta]idiiig ol-liow Iraud iniglil occur. by.. aking enqiiirie% of inanagemellt as to where they considered there was susceptibility to fralld, theii knowledge of actual. siispccrcd aiid allcgcd fraud". aiid ¢onsidcring ihe illt¢rnal controls in plac¢ to Initigate risks of fraud and non-compliance with1ow% and r¢gulations. To address the risk of fraud through management bias and override of controls, we.. perlormed analyiiLal procedures to idenufy any unusual or uneXlled relaliollships: le51ed joutnal enliie5 10 id¢nlify unusual IT75aLlion". a5ses5ed wliciher Judgeinenls and a5suinplioiis made in deletmining the accounlin8 e51imale5 were indicative of potenlial bia%- alld IVlISatcd thc iationalc behiiid 5igiiificant 01 Ullllsual trallsactions. cnsure rhai cxpLndirurL' on ihe lea%Lhold improvemLmis i in agrcement with third party documentation. and specifically wilh the maitj eontractors 88rced i¥mder documlniation and fjnal a¢¢outst report. In reswnst ILI the Ti5k ol. itregularitie5 and non-eompliaIiLe wilh law5 and iegulaliolls, we de5igDed proLeduies whiLh included, bul weie Dot limiied to". agreeing linancial stalement disclosiires to underlyiiig supporiiiig documentation.. enqiiij'ing of Inanagemtnl as to actual and p(>leniial litigalion and claiin%,' and reviuwing ¢orrL%PI)ndLmcL wilh rLlevant rLgulai()r% inLluding Ihc I ILalih and %alety Auihority. and Ikgal advisors. ThLfL iirL' inhLTL'nt limiluli()n% I ()ur aiidil pr(LdU[l dLWTihLd ab()vL. ThL m(irc Icm(?vLd Ihul luw% and rLgulaliiin% are fn)m tinan¢ial Iran%aciions. the IL%$ likely it ]% thai wc would bccnmc aware ()f non-compliancc. Auditing %iandard% also limit (hc audit procediiies iequircd to idLnlify non-compliance with laws aiid rcgiilalions to enquiry of the director5 and othLr illanagctncnl and ihc inspeclioii of Icgillalory and Icsal cottespondence, il-any. Malerial niisslalem¢nl5 Ihal 4iTiSe due 10 Iraud Lan be harder to delecl than those that arise Irom ertoi as they Involve deliberate concealtnei]l 01 collii%ion. Page 13
REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEES AND MEMBERS OF S.A.S.R.A. A further descripiion of our responsibiliiies for the audit of Ihe finanLi#l sla¢emet)Is is locad on the Finanlial Repc)rting CounLiI'% websilt al wivw.IrL.org uklaudit()rsre%ponsibilitie%. I'1ii% desLripiii)n li)nns pari ofour Repori ol- the Indepettdent Auditor. Uge of our report 'llJis report is inade solely io rhe charitable Lompany's members, as a body, in accordance wirh Chapter 3 ot Pan 16 of the Companies Act 2006. and 10 the chariiable coinpany's (Tusiees, as a Lx)dy. in acLoTdanLe with Regulaiion 10 ol. the Charities ALcouiitq (S¢otland} Regulati0118 2006. ()UT audit work been undertakeii %0 that we might stale to the charitable Lomp#iiy's members and Ilie tyusiees di()be m#tlers we are required io sthie ¢0 ihein in #n #udili)r's rep()rt #nd lor nii (Iiher PUTP()5e. 'I'(I the lulle51 exl¢nl petniiiid by laiv, we d() n()1 ilLLtpl ()[ a55UiJL¥ ieswinsibilily l(? any(Ine (Iiher than the chaiilable conipany ai)d the chaTltable cotnpany's tneinbets a5 a body, toi OILI audit work, for ihi5 ieport, or lor the opinioiis we Iiave fonned. Andrew HvdbT¢lls IS¥nior Siiilutury Audilorl lor and i)n bchalt nl-8haw Cribb% Audit l.ld Eligible Iv aLt as an auditor in lenns 01- SeL'iion 1212 ofihe Lompanjes ALI 2UU6 264 llanbury Road ()xtord ()xtord%hirc OX2 7DY Date.. 21..May2Q2$...................... Page 14
S.A.S.ILA. STATEMENT OF FINANCIAL ACTIVITIES NCORPORATING AN INCOME AYD EXPENDITURE ACCOUN for the 'ear ended 31st December 2025 2025 Total funds 2024 Total funds Unrestricted Restricted Endowment funds funds funds Notes INCONIE AND ENDOWMENTS FROM Donations and le8acie5 1.439,971 1.4.19,971 1.915,445 Othei trading activities Invcstsncnt incotnc C)3,481 142.717 18.791 161.508 112.591 Total .646,171 18.791 1.664,962 2.067,947 EXPENDITURE ON Rai%ing liind5 91,676 95,914 54,757 Charitablc 4¢¢iTri¢ies SLripluie Redders- LOlltaLt with Military Personnel .459,692 7,534 1,467,226 1,705,231 Total 1.551.368 11.772 1.561,140 1.159,988 Net 8ainslllosses) on investments IC)4.8(11 6,IC)71 158,4_34 64,200 NET INCONIE Transfers between fund5 Other recogni$ed ga1ns1llo$A) Gains on r¥valuation of fixcd asscts Actuarial gains L)n defjned benelil sLheiiies 259,604 2.IC)3.087 652 (2,163,087) 260,256 772,159 18 631.509 75.887 707.396 45.000 N¢t m&v¢ment in fund$ 3.054.200 (2.086,5481 907,652 817,159 RECONCILIATION OF FU.N'DS 'I'olal lunds biou8hi lotward 3.712,962 2.577.098 5.890,060 5.072,901 TOTAL FUNDS CARRIED FORWARD (1,IC)7,1 (12 4C)l},5Sn (),1157,712 Thc notes forni part of thcse financial Statements Page 15
BALANCE SHF.F.T 31st December 2025 2025 Total funds 2024 Total funds Unresiricied Restricted Endowment funds runds funds Notes FIXED ASSETS Tangible assets Investments .3.648.145 1.678.992 404.387 4.052.532 1.678.992 J,362,617 .526.122 5.327.137 404.387 5.731,524 4.888,739 CURRENT ASSETS Sioeks Debiors Cash at bank and in hand 14 27.444 211,634 813.8?6 278.692 817.275 278.692 90_1.438 86.163 1.095,967 86.16.7 1.182.130 1.052,904 CREDITORS A Thounts fallin8 due wiihin one year 16 155.9421 155,9421 151.5831 IET CURREf*T ASSETS 1.040.025 86.163 1.1?6.188 1,001,321 TOTAL ASSETS LESS CURREYT LIABILITIES 6.367.162 490.550 6,857.712 5.890.060 NET ASSETS 6,367.162 490.550 6.857.712 5.890,060 LinrestTi¢ied funds= General fund De5ignal¢d Fund- Prop¢rtie5 De5ignaied Fund- Ini'e51Tnertts Designated Fund- Thc , H Dawson Trust 884.??5 1,708,798 1.86?.403 1.911.736 911.5?7 1.485,948 914,487 6,367,162 3.312.96? Endowment funds 490.550 2.577.098 TOTAL FUNDS 6.857,712 5.890.060 These fin&n¢ial statemen15 hav¢ been prepaTed In arcordance iviih ihe provisions applicable (o ch8rilable companies subj[ to the srnall ¢ompanics regime. Th¢ financial siaiements wer¢ approved by Ihe Board ol Trustees and authorised for issue on go.l.oF.1.2Q..l&........... and were signed on its behaifby.. J W Lewis- TnJsi¢e The noies forni pan of Iliese financial Slalements Page 16
S.A.S.ILA. CASH FLOW STATEMENT for the ear ended 31st December 2025 2025 2024 Ca$h flows from operating activities C#sh g¥n¢raled frvm op<ra¢ivJ15 7,414 441.225 Nel cash provided by operaling activitie5 7.414 441.225 C#¥h flvws frvm invgstinx #Ltivities PuiLhase ill. lansTiblt lix assels l iiicha8e ol. lixed asset iiivestnients ale of fixcd a5sel iiive%tment Ca%h rcccivcd as part of chaiity meiger IntcrLst recLived l)ividcnds rcceivcd (10,(x)o} 123.1,490) 242.146 2Q.7(A) (2,721,290} 2.126.836 21.181 48.452 47.525 Net cash providcd by inve%ting activitics 75.179 Cash flows from financin% #ctivitiey InLumL allribuliiblL lo LnduwmLml Expendilure dltributsble to endowmeDI 18.791 11,772) 11,6081 Net ¢ash provided by finan¢ing oc¢ivities 7,019 11.575 Chmngo in e¥$h *nd ¢4gh equiv¥lent8 in the reporting period C#sh #nd L#¥h equii'#lent5 at tbe beginning of the reporting period 89,612 525.804 813,826 288.U22 Casb aDd cash equii'alents at tbe end of the reportiTh% period 901438 1111.82C? Thc notes forni part of thcse financial Statements Page 17
S.A.S.ILA. OTES TO THE CASH FLOW STATEMENT for the ear ended 31st December 2025 RECONCJLIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net In¢ome for tbe reportlll% perlod {#5 per the St#temellt of Fln#neial Actii'ities) Adjustments for: DcpiLLialion charges CJain on invc%lmcnts Intcic%l rcccivcd Dividcnd% Icccived Income aitributable to endawmenl ExpLiiditUlL attributable to endowment InLomL Irom eliarity JnergLr DLcrca%ellincrLasL} in stocks InLredse in debiurs InLrease/{deerease) In creditors 260,256 772.159 17,482 1158.414) 1.1,270 (&1.200} 1().03_1} (47.5251 {2.1.1811 11.608 1190.279} 1515} (17.866} 6.2111 (48.452) (18.791) 11,772 27.444 (67.041) 4.-159 INet C115b provided by oper#tivns 7,414 441.225 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.25 Cash flow At31.12.25 Net cash Cash ai bard( and in hand 811.826 89.612 901.438 813.826 89.6l2 903.438 Total 811.826 89.612 903.418 Thc notes forni part of thcse financial Statements Page 18
S.A.S.ILA. NOTES TO THE FINANCIAL STATEMENTS for the ear ended 31st December 2025 ACCOUNTING POLICIES Basis of pr¢paring the fin4ncial $tat¢m¢nt$ ThL fiiianLial sia1¥inLis of tlii iharitablc ioinpany. which is a public benefii entity undLY FRS 102. have been prepar¢d in aLLxiidan¢¢ with lh¢ Charili¥s SORP (FRS 102) 'A¢L(iun¢ing and Repvrting by Lharili¥5'. Siaiement of ReLommendeJ PraLtiLe #ppliLable 10 Lharities preparinb their aLLvullis in #LLvrdanLe wilh the FitianLi#I R¢portinb SianJaTd appliLable in ihe IIK and Il¢publiL ol. Iieland {1.'115 102} le1tlive l January 2U191'. FinaiiLial Rcpotlin8 %tandard 102 "I-he l inaiiLial RLPOrtin8 Standard applicable in the UK and Repiiblic ol. Ircland, and thc Coinpanie% Act 2006. The fit)ancial Slatcmcnls havc becn prcparcd iindci Ihc historical ci)%t coiivcntion. with tlic cxccption of invcstments which are includcd at markct value. as Inodified by the rcvaluatii)n of ccrtain a8scts. The Financial staten)ents have been prepared on the going concern basis. Incomc All il1e is recogni5ed in ihe Sthietnent of Financial ALlivilies once the Lharily ha5 enl1ileenl tu the funds, il Is probable thai the inLome will be received ld ihe an)ounl can be measured reliably. Si)ecifically, legacy income is recognised when the charitsble company is firsi notified after grant of probaie, and only if a value can be reasonably esrimaled for all elemenis of costs such as legal fees. Expendltvre Liabililies ale ieLoy7nised as expendiiuie as soon as theie i5 a legal OT con51iuLlivt obligalion Lointnitliiig ihe Lharily io thal expenditure, it is priibuble ihal # Iratt51er of econvmic bette11t will be requir¥J in 5eidemenl and lh¢ ol'ihe obli8alioD Lan be rneasuied reliably. L'xpeDdiliJre is aLLounl¢d loi on an aLcnials basi5 and has been Llas5ilLed und¢T headings ihal aggie8ale all c051 Telaled iii ihe calegory. Wheie Liis15 cann(Il be diieLIIy attiibiitcd lo particular headings they have been allocated lo aclivilies on a basis consi%tent willi the iise of resources. Raiqing funds Raising funds in¢ludes all expendiiure incurred by the charity to r8ise funds for its charitsble purposes and includes Losis of all fundraising aLuvilies. evenis and non-LharlbI¢ trading. Charitable actii'ities Costs ol. charilablL actLVlties ale incutred piincipally in the piovision ol. slalYdeliverin8 the chaiitable objectives of ihc A8sociaiion. 1"he WLYC torniLYly paral¢lY identifiLd ag thc work of our ScripNrc l£cader8 in providing spiriiual and pllsroral support ro our beneficiaries and our Area Represenraiives in infomiing ihe Cljrisiian public of oui work. A5 the charily has had a ieoiganisaiion and no longer has Aiea Represeniatives, Iheie is now only one principle t)Lliviry and ihe accouni presenilliion has been adjusied 10 ielleci (his. The sw)port costs relating io the managemeni and govern1Le of the Lhariiy is appoflioned io chariiable aLlivities. GoYern#Dce cu¥t Tliis includes aLLOILlltallcy and pioltS5ional lee5 inLurred by the Charity lo nieet 115 51atulory obligalions. Allocation and apportionment of ¢ost8 %iipport Lil.%i% arc InadL up nt- thL majiag¢m¢nt costs of n]nning th¢ charity. Part of thc%¢ ¢osts ar¢ diT¢CtIy allocated to Costs for CJCt)erating Funds and the remainder is allocated to Charitable Activitics. Tangible fixed 48sets 'I'h¢ poli¢y tor capitalising fixed ass¢ts is itcms >£200 ¢ach. Dcpreciation is provided at the folli)wing ant)ual rale% ID ordcr to write i)ff each asset over its estimated llscful Ihfc_ riiinitiiie & I quipment Motor Vcliiclcs I10 lo l_l _IIO/D on cost 2(P/o on cost Page 19 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 ACCOUNTING POLICIES- contlnued Tangible fix¢d 4$8ets Freehold properties Fr¥¥liold propcriies ¢ompri5e residential and llon-residential properties. All Ireehold properties are initially reLosTnised at Los1. Residenti#l properiies #re subsequently measured ai fair value and are ttoi depreLiaied. Valuations are catried out by ihe trii5tee5 annually, or when thete is an indication thai the catrying valiie may diffct inalcTially froin fair valuc. Non-rcsidcntial propcrtics aic subsequcnily measured at cost Ic%s accurnulalcd depreciation and impaitment. St(Jcks Siocks are valued at the lower of eost and llet realisable value, after Making due allowance foi ob501ele and slow moving items. TaxatjOD Tlie Lharity is exempt from corporation tax on ils charitable activities. Fund accountin% UnrestriLied funds can be used in accordance wilh ihe charitable objectives at the discreiitsn of the irusiees. Designations are made ai the discreiion of the irusrees to refleci intended use of resources and may be aliered or removed by the irugiee5 as CiTcumsiances Change. Reslricled lund5 can ollly be used lor patliLulat r¢slriLled piitpose5 within Ihe objec15 01. Ihe charily. Restriction5 arise when 5peLili¢d by lh¢ donor or when funds. are raised for partlLular restricl¢d putpose5. Tlic charity has prcviollsly had fivc non-cxpcndable cndowmcnl nds. Thcsc were capital gifts comprising i)f propertics hcld foi thc spccific llse of housing Scriptllre Rcaders. and Trnstec 8tatu8 JnYe%tments. Income generated i)n the investment% is treated a% unre%tTlCted. DuTing the year the endowment restrictii)n relating ti) two of the funds was lifted. urther explanaiitsn of the naiure and purpose ol'eaLh fund is includd in the noles to th< finanLial sialtmenis. Hire purchase and leasing commitment5 Ilcntal4 paid linder opcraring ILasc% are charged 10 the Statement of Financial Aciivities on a siraight line basis over ihe period of ihe lease. PLinJlon ¢osts #nd other po%t-retlrcmL&lIt bontflty Th¢ charitsble Loinpany operaies a delined Loniribuiion pension scheme. Contributions payable in the year are cliarba¢d llj ili¢ Siuieiii¢iJi of Fillaii¥ial Aitivities ill die p¢iJva iu wlijili iliey Jtlait. Fuiiliriiiivit, ill dje pas1, tl)¢ Lhatilable LOItipaIiy a150 made Luntrlbuliuns lu a delineis benelil 5Lheme up iu .1151 Decembei 2005. More Inlorn)atJoll on this is piovidtd ilndei the rtlevanl ])ute lo the dCLoiinl5. Investments 'I'hL l1lVL%tincnts aT¢ qUOt¢d inv¢%tmcnts and stated at mid-markct valu¢ ot th¢ b31anc¢ shcct date. %urpluqes and dcficits an Icvaliiation tjf thc portfolio at the cnd af thc ycai arc reflcctcd in the accounts in thc statcmcnt of Financial Activities separately between realised and unrealised gains. Page 20 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 DONATIONS AND LEGACIES 2025 2024 DL)nations Gill uid Les)#Lies IntanbTibl¢ incOt Funds'l-ransletred from MDSII 991.407 63.726 131.499 ,050.993 53.889 585.356 190,279 419.971 1915.445 OTHER TRADING ACTIVITIES 2025 2024 61.481 INVESTMENT INCOME 2025 2024 Renls ieLeiv<d DIvidd inLvme Dq)osil account interest 91,875 48.452 79,033 47.525 161.508 132.S91 CHARIT ABLE ACTIVITIES COSTS Direcl Cosis (see notc 6) Support cosis (sce note 7) Totals Scripture Readers - contact with Milit1 Personnel 711.449 715.777 1.467.226 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Stal'l'costs. OthLr operating leases -I'clLphnnL Po%iage and siationery Reni & raies Compuier costs Healinbi & Lleaning Tr#vel & Inoi()r expenses Other staff ii)sts Acioinmodaiion Costs Ci)nferences expenses Relocation cosls 560,461 11,2()5 465,525 ,255 1,5.15 15,339 6,069 7,475 17,335 20,867 5.628 16.812 2.820 1.3.n60 7.31.44C) Page 21 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 SUPPORT COSTS Govemancc costs Management Totals Scripture Readers con¢act with Military Personiiel 705,517 735,777 Siippotl Cts. IJlL'luded Jn the above. ate as follows". Management 2025 Scripturc Readers - contact with Military Pcrsonllcl 2024 Total aetivitics s111[]L and LxpLnsts Social security Pensilins Other operaling leases Insurance RtLtuilment cosls Telephoiie Ci)pying. pi)stagc & stationery Accoinmodatittrn co8L% & maillt Rent & service charge% Computer expenses OuisL¥urLe service fees Prote4%ic)nal lees I'ravcl & motor expen%es ()thL T Staff c(>%ts 'I'raining Publication Sundries Depreciaiion of tangible and heriiage assets 437,0.11 427,091 40.810 27,087 882 15,715 601 2,598 8.212 42.116 18.105 2,867 40.147 5,106 18,891 9,44 1,215 8,574 14,812 6,1.3.1 17,482 5,228 14,561 9,601 ,652 11,641 705.517 691.841 Govern¥Dce cost8 2025 Scripture Rcadcrs - contact with Military Pcrsonnel 2024 Total activitics Aiiditors, reinuneratio Aiiditors, reinuiieraliot) lor non audit work 28.260 2.000 10.120 2.000 Page 22 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 NET JNCOMEI(EXPENDITUREI N¢t it]comcl(cxpenditurc) is stat¢d after ¢hargingllcrcditingl'. 2025 2024 Audi101s' r¢mun¢raliun Aiidit()15' remuneialion lor non audit work Dcprccialion - owncd as%ets Other operating Icases 28,26 2,000 17.481 12.147 10,120 2,000 12.268 12.-105 TRUSTEES, REMUNEIL4TION AND BENEFITS There were no trngtees, remuneration or other benelils lor ihe year ended 3 Isi Deeen)ber 2025 nor lor ihe ytrdr elided I Isl December 2024. Trustee4 expenqes There were no truslees. expenses paid for the year ended 31st Deceinber 2025 nor for the year ended 31st December 2024. io. STAFF COSTS 2025 2024 WagLs and salaiies Social sccurity costs Other pension L0515 910.244 96.179 72,969 824,215 75.712 7.1,021 .079.392 972.948 Tlie average tnonthly nuinber ol. etnployee5 duiing the year wa5 as lollows". 2025 2024 13 16 HQ Staff SLiipliirtr Re¢5 R¢giollal Manageis 17 -io Th¢ numb¢T af employ¢¢8 whoq¢ employ¢e b¢n¢fits l¢x¢lllding ¢mpl(Try¢r n8)nn ¢osts} ¢xc¢¢d¢d £60,OOQ w38.. 2025 2024 £60.001 £70.000 The #verage number ol'volunr5 were 98 ihis year12024". 91). The iru&l¢e% have ¢i¥iiiidered ihgl the key manageinen¢ pers()Iin¢l v()Inpri%e of the tsu4lees. the bxeLutive DiYeLlTrr. ilie FingnLe t)iTevtor. the Mini%try J)ireLtor. the FaLilitie% Dire¢t(Ir and the Operati0118 Direeior. The total compensation paid and payable of t]ie key manageinent personnel during the fJnat)cial year w28 £238.202 {2024: £229.5.131 Page 23 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 COMPARATIVES FOR THE STATEMENT OF THE F1Tr4ANCIAL ACTIVITIES- 2024 YEAR END Unrcslri¢tcd R¢strict¢d Endowment funds funds funds Total funds INCOME AND ENDOWMENTS FROM Donatioiis and legaeies 1,915.445 1,915,445 Other irading aciivilies Inves(meni itiLome 19,911 109,408 19.911 132,591 Total 2,044,764 2.067,947 EXPENDITURE ON Raisin8 funds 50.683 4,074 54,757 Charitable actii'ities SLI'iplui'e Rtdders coiilact with Military Ptt%()nnel 1297 697 1.305 211 Total 1.348 380 11,608 1359,988 Net 8ain5 on investments 46,699 17,501 64,200 IYET INCOME 743,08.3 489.8?9 29,076 {489,829 J 772,159 Tr4n$for$ fund Othtr re¢vRnlsed %#lns1(1tsg$oy) ALluatidl gains dLlinLd benelit sLhemes 45,000 45,000 N¢1 mov¢mcllt ill funds 1,277.912 (460,753) 817,159 RECONCILIATION OF FUNDS 'I'iilal lund% bi(Illbhi fi)rward 2.0.35.050 3.0.37,851 5.072,901 TOTAL FUNDS CARRIED FORWARD 3,-312.962 2,577,098 5.890.060 Page 24 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 12. TANGIBLE FIXED ASSETS Frcehold properly Furniturc & Equipment Motor vehicles Totals COST OR VALUATION Ai I sl January 2025 Revaluations 3,167,416 707,196 175.557 16,000 3.514,973 707.-196 At_3 l %t Deccmbcr 2025 4.070.812 135.557 16.000 4.222.-169 DEPRECIATION Ai I st Jllnullry 2025 Charge for year 105,542 6,584 152,356 17,481 7,497 3,400 Ai 11 st December 2025 49,878 112,126 169,8.17 NET BOOK VALUE Ai.31 st l)ccember 2025 4,020,934 8,167 4.052,532 Ai 1151 De¢ember 2024 io.oi ! IC)2.r)17 Cost or valuation at Ilsr December 2025 is represenied by.. Frcchold Furniturc propcrty & Equipmcnt Motor vchiclcs Totals Valuation in 2n1 () Valuation ill 2025 Cost 707.-19C) 2.173.400 707.-196 2.124.957 1_35.557 16.(100 4.070.812 1.15.557 16.000 4,222,-169 Fieehold propetiie5 COItIPT15e a llon-ie5idenlial property wilh a catrying value of £65,794, iesidenlial propetlies wilh a total catrying valuc of £1.909.000. and a property with a carrytn8 value of £23,057, which is lied lo a leasehold aangC[nenI cxpiring in Novcmbct 2028. Tlic valuatloll of Ihc property subject lo Ihc leasehold is bascd on c%titna(cd futtiie ieiital income, as the property docs not havc a maikct valuc. Thi% propcrty is deprcciatcd ovcr (he Icinaining tctm of thc Icase. Alsi) included within residential properties is a property beneficially owned by the charity, for which legal title is held by the W H Dawsoii Trust. -I'he b#lanLe ol- £23,084 relates tv Lapiial improvemenls io Ihe freehvld prvpeni¢s. All freehuld properiies are held f()r dir¢ct ¢haritahl¢ purpoYs. Page 25 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 13. FIXED ASSET INVESTMENTS 2025 2024 Shails Oth¢r 1,604.96.3 74,029 ,495.719 .678.992 1.526.122 Additional inforn]ation follows- Listed invcslmentS MARKET VALUE A( I sl January 2025 Addiiion8 Dispo%al8 Revaluaiions 1.495,779 2.277,(12() (2.245,C)601 77,258 At_l l %t December 2025 1.604.963 NET BOOK VALUE Ai 3151 DeLembei 2025 1,604.963 Ai 3151 DeLember 2024 14C)5,739 The hisloiical Losi lor the above Fixed As5ei Investmenls is £1,475,472 {2024". £1.211,261). There were no iDvestmenl assets Outside the UK. No investment exceeded 5Vo of the inarket value of the porifolio. Co8t or valuation at Ilst l)c¢cmbcr 21)25 is reprc%¢ntcd by.. Listed investments Valuation in 2025 1604,96.1 Invegtmenis (neiiher lisied nor unlisted) were as follows.. 2025 2024 Cash held for inve5ltnenl 74.029 Page 26 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 14. STOCKS 2025 2024 Stocks 27.444 DEBTORS: AMOUP4TS FALLING DUE WITHIN ONE YEAR 2025 2024 Dividend and ini reeeivable LegJaLy d¢b1015 Otlier debtors Gift aid tax rLYlaim due PTLpayincnts 4,530 199,207 1.928 1.969 243,809 12.751 4.-181 278 692 211.614 16. CREDITORS: AMOUNTS FALLING DUE WITHIN of4E YEAR 2025 2024 Trade Litdilors S(ILial security and other taxe5 VA"I' OtiieT cieditots Accrlled expenses 1,993 19,479 4,450 8,716 20.-171 14,7 19.766 17. LEASING AGREEMENTS Minimum lease paymen15 under non-cancellable operating leases fall due as follows". 2025 2024 Within one year Bctwecn on¢ and five ycars 6.669 18.1495 2,858 25.564 2,858 Page 27 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 18. MOVEMENT IN FUNDS Nct movement in thds Transfcrs between fidS Ai 31.12.25 Ai 1.1.25 Unre$trl¢ted (i¥n¢ral lund De5ignaled Flind- Pivperlies Dc%ignalcd I'-und- Investmcnts Designated Fund- The W 11 Dawson TtU5t 912,527 1,485,948 914.487 130,8.33 222,850 173.927 163,507 {159,1.35) 884,225 1.708,798 1.8C?2.407 1,911,736 777.993 1,548,229 1.112.962 2,161.087 6,167.162 Endowment fund8 ThL Consolidèjtcd Fund ThL W H Dawsoii Ts1 CTrartvill¢-%miih F'und ThL MariLr RLadLr Fund 199,682 2,165,742 8.y¥() 2.785 79,194 {2,6551 478.876 (2.163,087) 8,1¢89 2,785 2.577.098 2.161.087 490.550 TOTAL FUNDS 5.890.060 967.652 6.857.712 Net movement in tunds. included in the above are as lollows". Incoming re50urcc5 Resources expcnded Gains and Movement losses in funds Unrestricted funds GLLIa[ tund D¢%ignatLd l.und- Propcrtics Dc%ignatcd Fund- Invcstmcnls Designaled Fund- The W H Daw8on Trust 1,622,-119 11,547,656) 56,170 222,85 151.783 -361.507 130,833 222,85 171.923 161.507 2_3.852 {_3.7121 1.646.171 (1.551,368) 796.310 891.113 Endvwment fitnds The Consulidated Fund The W H Dawson Trusl 3.-307 15,484 75,887 79,194 18.791 111.772} 09.520 TOTAL FUNDS 1,664,962 1.563,1401 865,8.10 967,652 Page 28 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 18. MOVEMENT IN FUNDS- condnued Comparatiyu for moY¢m¢nl in funds Net Mo¢M¢nt in fimds Transfers b¢twe¢n funds Ai 31.12.24 Ai 1.1.24 Unrestricted funds Gaieial lund Dc%ignatcd Fund- PTOPCrtics De_signated Fund- Investments 175,126 1.118.691 521.2.31 741,784 (203,98_1} -147.255 -146.557 912,527 1.485.948 914.487 46.699 2.035.050 788.083 489.829 3,312.962 EndowmeDt funds 'I'he Kin8 Edward Vll %oldieJ3 & %ailors Ins. Fund The Lonsolidaied Fund 'I'he W H Dawstsn'l'ru51 (Tfdiiville-smiih l.und The Maiter Readei Fund 489,829 {489,829) 199,682 2.165,742 8,889 2,785 2,136,666 8.88)( 2.785 29,076 3.037,851 29,076 489.829) 2,577.098 TOTAL FUNDS 5,072,901 817,159 5.890,060 Compaialiv< nel movemeni iti funds. iIiLludtd in the abvve are a5 follows." Incoming rcsourcc5 Resources expclldcd Gains &nd Movement losscs in funds Unre8tricted funds General fund Designaled Fund- Invesrments 2.044.764 (1.348,-3801 45,000 46,099 46,699 2,044.764 (1,348,380} 91,699 788,083 EndowmeDt fund ThL W H Dawsoll Trusl 23,183 111,608) 17,501 29,076 TOTAL FUNDS 2 067 947 1159 9881 109 200 817 159 Included it) iotal reserves, is a revaluation surplus of £2.026.902 of which £1.897,412 represenis the difterenee benveen rhe markei value and ihe hisiorical cogi of properiies. and £129.490 represeniing the difference beiween the market value and his(vriLuI Losl ul. other 4uvl¢d invesini<nis. DLSI naled Funds ThL'SL' fLpfLSLnl unresirieied lunds which have been earniarked by Ihe im51ees as being held in the fomi ol'asseis wliich are eitheT pan ofthe charity's property portfolio or as inve%tmenLs ti) generate income which supports the charitsble activities. Page 29 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 18. MOVEMENT IN FUNDS- condnued Th¢ W H Dawson Fund - The purpose for this fimd is partly to provide ac¢ommLThJation for S¢riptur¢ Rcadcrs and ihi balaiiil is mainly hLld iii Trustee Status InvL'slinLmls. InLI)mL from invLs¢mLiits and bank dLwosit iniLr¢st is r¥c¢ivLd ittlo lh¢ General Fund. The Lharilies Lvmmissiott approvtd Ihe lillitigT lil. th¥ r¢siriLlivn on Lapital lor the William Henry Dawson F'und el'feLlive l4 MarLh 2025. 11 is the trustees prelerenie tts recvbinibe ihis lund separale Itom the (ieneral fuDd as il is still illtended lo use il lor huusiug. ndowmcnt fimds Tlic Con%olidatcd Fllnd Thc PUTPQ%C for this fiind 1% partly to provide accominodatioii Fni 8ciiptiirc Readers and thc balancc is hcld iii Tru%tcc status Invesimcnt8. All cash inci)Inc iq rcccived into thc Cicncral Fund. The Grallville Siniih Fund- The purpose for this filnd is partly lo provide accominodalion for Scriptuie Readers and thL balaJicL was iJiJtially hLld ill I'rustLL Status ljivestmLnts. bul was sineL sold aijd thL pfocLLds hLld ill a deposit aceounl. All cash income is received into the (weneral Fund. Tlie Marter Reader Fund - This was also a luiid held in Trustee Siatus Inveslinenl. and was since sold and the Proceeds are held in a deposit aceount. All cash income is received tnto the (itneral Fund. 19. RELATED PARTY DISCLOSURES The Council of ihe Soldiers, and Aviators. Scripiure Readers AssociAtion is corpora Tn]siee and Beneficiary of vaiivus fillids Lompiising non-expendable capiial sums under the conirtsl Of the Charity Cominissioner lor Enbjland anLI Wales. -rii¢ C(iunLil 15 CvtP(ITale '] ruslee and BeneliLlary ()r'iiae C(Ins111idaled Soldieis, and Avial(its' SLiipliiie Readers Fiind (subseqiicntly IcleTted lo as 'l'hc Consolidated I'uiid") Ihi% 15 Used in part to provide accominodatioii lor Sciipturc Readcl. with Ihc balance of this. togcihcr with the capital of The Martcr RcadcT Fund and The CJranvillc %inith Memorial Fund. held in deposit accDut]ts_ The Council. under an order of the Gibraliar Supreme Loui1. 1$ 8lso Lorp(Frate Ttijslee and Beneficiary of The King Edward VIL Si)Idiers' and Sailors Insiiiule Fund. l.roin 10 September 2024 the restriLtions on ihe Fund w¢re lill¢d by ihe Chaiily Loinmissiuner fur Lnsland and Waleb. 'I'he Liipilal was used Iv provide accoinmodalion foi Scripture Readers, e5pecLally in geographical alea5 from which ihe Con501idaied l und is excluded. like Scotland lor instance. l.or the lime being there ale no piopcrtics l)eld iii Scotland, so all the ti]nd is being held in "I rustee Status It)vestmcnts, until a new prorty is purchased. The Council is Beneficiary of ihe W H Dawson Ttusi which was originally established solely io provide Lcommoitttlion lor the AssoLiaiitsn's Headqiiariers. The Tnisi has ils own Trusiees, responsible io the Chaiily Commissioners lor England and Wt)les. bui the Council has power io direci ihe Trustees wiihin (he limilb of the TIus1 D¢¢d aijd Tiusltts IllvestJll¢Jlls A¥1 1961. Ab sol¢ b¢iiefiLiaiy. T]ie Ass0¥iaiioll aLlS as dit S¢¥itiaIJai tor the Trn51ves. Diiring the year, a payment of £500 was made by SASRA to DiikL Street Cliureli. an organtsation Jn wliich Si¥yh¥n Pryor also s¥rv¥s as a trustce. %t¢phct) Pryor is a trustc¢ ol-both S.A.S.R.A and Dukc Str¢ct Lliur¢h. Thc Iian%action Icprc%ent8 a hirc of tlic Dllkc %tiect Church building foi a day to ho81 "()iii Day" S.A %.R A.'s onnual event foT 8UPPOrters. The trustees confirm that the payment was made in the ordinary course of furthering the chariiy's objectives. At th¢ balanec %h¢ct dat¢, th¢r¢ wer¢ no outstanding balances in re%pcct of thi% arTang¢m¢nt. Page 30 ¢onUnued...
S.A.S.ILA. NOTES TO THE FINANCIAL ST ATEMENTS - Continued for the ear ended 31st December 2025 20. PENSION COMMITMENTS Up until Ilst De¢¢mb¢r 2tN)5. the charity was contributing towards a dcfincd bcncfit P¢llSiL)n s¢h¢me providing benefiis based on final pLnsionablL pay. It was d¢¢ided to close ihis PL5]L)n fund following the advile lif an Indrpettdeni Aciuary, and sitic¢ Ihen the Lharily slur¢d iii Ltintribule l(Iwards a defm¢d L(Intribuii(In SLhune. Ci)ntribuiions payable in Ihe year are Lharbied in ihe Stsie]nent Of FinanLial ALliVities. I'he p¢nsion ¢hat8e foi Ihe linaDLial year was £"72,969 (2024". £"73,021). Thc &sscLs of thc dcfincd benefit pension scheme are being held %epatatcly from those of thc charity. and ar¢ bcing invcstcd with insurancc cainpanics. Fiill actuatial valuations arc undertakcn by ali indcpcndcnt. qualified actuary at intctwals nnt cxcecding thrcc ycars. Thc mo%t rcccntly complctLd full valuation wa% as at 3l%t December 2022 and figures have been updated from ihat date to the a¢¢ounting date using data available to the qualilied acluary ai the tlllle. Thc mLthi)d i)f valualion which has bcLn adopted 1% thL Lurreni Ilnit MLihod. an4J IhL assumpli()ns which have Ihe signiliLant etTeLI on ihe resulis uf the 2022 valiialion are those relalins (o the rale of TtIuTn UD Inveslinenls and tlie rates ol. IllLrease in salaries and pensioiis. The basis ot- inllatioii used lor slatulory pension increa%e% and slaluti)ry revaluation lor the scheme ha% changed fri)m RPI IRetail PriLt Index) lo L'l)I (Consumer Price Inflaii()nl. l i)r mcmbcr% who h8vL not yci rctirLd, and whLrLvcr pLrnii%4iblc, it wa% a%4umcd ihat ihe invesimeni i¢iUrnS would be 4.07 /0 pa after reiircmeni, ttnd thai pres¢ni pensii)ns woiild inLrease at the raie of 3.87 /0 P foi IhLisL subjLLI 11) CPI Iv RPI, und I[< would iT]Liease ai lh¢ rule uf 1.04°/o pa lur those subjeci io CPI and.1..19 /opa io RPI. The 5179 value ofthe scheme's assets. as ai that date was £1,578,399 the preseni value OL the ts)ial proiected 5Lhune'5 liabililies wa5 £1,37CJ,716 sivins a 5UTpIIis in Il)e 5Llieme. 'I'he jnovunenl ii) lh¢ delicil ITOrn £45,000 10 zer(I was rec()gnised in ihe 2024 aLcoun15 as a ieduLlion in the piovksion lor liabililies and charges in the eliaiity's fiiiancial slaten)ents. Thc next 1[ as%c%%incnt is due to rccogni%c the position as at_31 %t t)eccmbcr 2025. but 18 not yct available. It l5 expected that any adju%tinent8 ari%ing fro1 that asqessment will be reflected in the 2026 financial statemenLs. 21. MEMBERS, LIABILITY Every member ol. the chari1able cornpany undertakes lo contiibule suLh an)ounl a5 tnay be required (not exceeding 50pl to the charitable coinpany's assets il il should bc wound up while helshe is a ineniber, 01 within one year afier he/8hc ceases to a membLr. Pag¢31
S.A.S.ILA. DETAILED STATEME.YT OF FINANCIAL ACTIVITIES for the ear ended 31st December 2025 2025 2024 INCONIE AND ENDOWMENTS DnatIOnS and I¢1¢8 Donaii()ns Gill aid Lebjacies Inlangible income Fulld5 Iranslerred frorn MDSH 993.407 63.726 331.499 ,050.991 53,889 585.-156 34.928 190.279 1.439,971 1.915,445 Othcr trading activitics Sales 63,483 19,911 Invc¥tmcnt incomc Ren15 ieLeived Dividend illLO]ne Deposil aLLount inleitst 91.875 48,452 21.181 47,525 6.033 161.508 112.591 Tutal incoming re¥ources 1,664.962 2,067.947 EXPENDITURE Raising don&tinn8 and legacies Salarics and cxpcn.%cs Social curity Pcnsions Telephone Postabie dnd slaiionery Reni & ral¢s Ilealiny & Lleaning costs Publicity & advertising 4.844 5.260 470 473 118 182 21 442 21.-32.1 260 29.597 28,287 36,622 Other trading activities Purchases 51.5_37 Invcstmcnt man4g¢m¢nt ¢ost3 Pi)J'tfi)lic) management Relit LL)IleLlion I ll.5().3 8.75.3 16,090 18,135 Charit#ble activitie Sdlaries and expvD5¢S C9rried li)rw8rd 467.769 467.769 791.264 391.264 This pagc docs not form part of the statutory financial statcments Page 32
S.A.S.ILA. DETAILED STATEME.YT OF FINANCIAL ACTIVITIES for the ear ended 31st December 2025 2025 2024 Charitable activities 14roiight li)nvard ocial gecurity Pensions Oiher operating leases Telephone Postage and slalionery RLnt & ralcs Computei costs Ileatin8 & clcaning Traycl & motor cxpenses Othcr staff cn%ts Accommodatioii ¢osts Conferenies expenses Relocalion costs 467,769 47,285 45.409 11.265 1.303 IC)1,264 -34.4.32 -19.829 1.255 138 33.041 41,298 17.-3.15 2Q.8C?7 5.628 51.3.19 16.812 16.C?69 7.475 34.928 13.0(rf) 731,449 601,270 Suppurt e1Tr5ts M#nugement aldiie% ajid expenses Social seLiiiiIy pen105 Other opcratit]g Ica5CS JnsuTancc Recrnitment CO8t8 Teleplione Lopying, pi)slag)e & sl#tionthy ALLommodalion Losls & maint 437,631 427,691 40.810 -32,795 27.087 8R2 15.715 601 2,598 8,212 42,116 2,867 F li Reni & serviL¢ LharbFes Cotnpuler expen5e5 Out%oiiice sctvice fees Profcssional fecs Trt)vel & moior expenses Oiher 51all'L()st5' Traiiiin8 E4iblication Sundiies rreeh(Trld property lixluies alld titljngs Motor vehjcles 18.105 22.5.17 5.106 18.89_1 9.440 1.235 8,574 14.812 6.133 7.498 6.584 40.147 5.228 14.561 9.601 1,652 13,463 11.641 456 10.413 2.401 705,517 691,841 GoTrernance costs Audiitsrs, remuneration Audilors. remuDeralion for non audit WO 28.2 2.000 10.120 2.000 12.120 Total resources expended 156_3.140 .359.988 N¢t incom¢ before gains and IossLS 101,822 707.959 This pagc docs not form part of the statutory financial statcments Page 33
S.A.S.ILA. DETAILED STATEME.YT OF FINANCIAL ACTIVITIES for the ear ended 31st December 2025 2025 2024 Realised recognised gains and losses Reali%Ld gaIn{lO8LS) on fixLd a%sct invcstmcnts 81,176 -35.-356 Net income 182.998 74.1.315 This pagc docs not form part of the statutory financial statcments Page 34
Issuer
Shaw Gibbs
Document generated Tue, 26th May 2026 12:51:44 BST
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Tue, 26th May 2026 14:14:32 BST
Andrew Hodgetts - Signer (08305bab1db5833c414adab3c9d6cede)
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Tue, 26th May 2026 13:08:32 BST Tue, 26th May 2026 14:13:47 BST Tue, 26th May 2026 14:14:32 BST Tue, 26th May 2026 14:14:32 BST Tue, 26th May 2026 14:14:32 BST
Tue, 26th May 2026 14:14:32 BST
Envelope generated by Debbie Arundale (94.228.44.17) Document generated with fingerprint 1b47f557d9ad62133565b2ae996b8a3b (94.228.44.17) Sent the envelope to Andrew Hodgetts
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