HAYES PRESS Annual Report and Financial Statements for the year ended 5t 31 December 2025 (Registered Charity INumber: 242257)
HAYES PRESS Contents Page Charity Jnfomialion Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts Thefollowing does notform part of the slalutoryfinancial slalements.. Detailed Income and Expense Account
HAYES PRESS A Charity governed bv Trust Deed Charity Information for the year ended 31" December 2025 Trustees: A W Jarvis A R Jones D Woods- appointed 13, April 2025 Dr. GK Schleyer- appointed 131h April 2025 Address: The Barn Flaxlands Wootton Bassett Wiltshire SN4 8DY Registered Charity No: 242257 Independent Exajniner: Mr P Buck FCA, DChA Champion TLL Limited Chartcrcd Accountants 7 - 9 Ststion Road Prc5ton PR4 6SN Main Bankers: HSBC Head OtTi¢e 160 Belave Road Leicester LE4 SAU
HAYES PRESS Trustees report for the year ended 31, December 2025 Hayes Press is governed by a trust deed dated l O January 1962, as revised by a Charity Commission scheme dated 6 October 2003. Thi5 scheine was approved by the General Assembly of Elders of the Churches of God in the Fellowship of the Son of God, the Lord Jesus ChTlSt. Trustees are appointed from time to time by the same General Asseinbly. The charity exists to provide Christian literature for use within the Churches of God and for wider distribution worldwide. There is no longer a full-tiine manager at the depot, but the trustees make arrangements in place to ensure the day-to-day operations are effected efficiently. Review of the year and financial review The trustees present their annual report and financial statements, which have been prepared in accordance with the requireinents of its governing document and in line with current slalulory requirements and the Charity SORP (2015). In fulfilling the charity's objectives, the trustees have considered the Charity Comrnission's guidance on public benefit and are satisfied that the activities undertaken during the year have delivered meaningful benefit to the public. During 2025, Hayes Press continued to supply literature to the Churches of God and, under the remit of the Fellowship Media Committee, to the wider Christian community. Over 190/0 of sales income was generated through online platforms such as Amazon and eBay {150/0 2024) The temis of siipply of core literature to the Churches of God were amended diiringJ the year, whereby the magazines and calcndars produced are now to be supplied free of Lharge to the readcrship within thc LhurLhes. Each church is encouraged to make donations that will offset the loss of that income. 2026 calendars were issued free of charge in the latter part of 2025. Magazine sales for 2025 were paid for by the readers in the ordering process at the end 01.2024. Therefore the full effect of the policy change has not been reflected in this year's financial results. Magazine sales income was unchanged year on year. The loss of sales income for the calendars was £5,800. Gospel tracts income tell by 22 /0. The welcome increase in the content of one major magazine did double the cost of production for it. This is a cost worth bearing being countered by the non-financial benefits. The loss of margin on the calendar sales was significantly offset by North American funding of the calendars consumed there. Overall gross margin was much the same year on year. The need for a depot to carry Out the operations of Hayes Press is reducing, with some products being shipped directly from the manufacturer to the consurners. The reduction in work has led to a fall in the payments for personnel with resulting reduction of overheads by £1 1,000 year on year. Donations fell by £2,000, which was due mainly to a one-off reduction in support of the radio outreach program. The fall in interest rates duringJ the year also had an impact on income. The trustees are extremely grateful for all contributions supporting the work of the Fellowship Media Committee. Despite the reduced income the trading loss for 2025 was £2,070 -one third of the loss reported in 2024 (£6,400). At year-end, Hayes Press held total funds of £117,192, comprising £19,908 in fixed assets and £97,284 in unrestrictcd dcposit and currcnt accounts.
HAYES PRESS Truslees report (continued) Risk review The trustees have carried out a risk review in accordance with Charities Act recommendations to identify any risks that surround thc chatity and tnitigate thos¢ risks wherc possible. Reserves poliey Following the restructuring after the retirement of the depot manager in 2024, the breadth of the Charity's focus has reduced. The Depot is utilised significantly less than previously, and the trustees are considering options to reduce the fixed costs which are still being incurred. Inventory has been tailored back already. The trustees consider a siiitable level of reserves for the medium term to be £70,000, based on an estimate of two years, operating costs. Given the iinpending possible negative impact on finanees of the amcndment to the supply of core literature policy, thc trnstccs consider the level of free reserves at the end of 2025. £97,284 as a useful buffer in the meantime. Statement of trustees responsibilities Charity law requireq truqtee8 to prepare account4 for each financial year which give a true and fair view of the state of affairs of the charity and of its income and expenditure for that period. In preparing accounts the trustees have.. used suitable accounting policies and applied them consistently made judgements and estimates which are reasonable and prudent followed applicabl¢ accounting standards, subject to any matcrial departur¢s discloscd and cxplaincd in the accounts prepared the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for maintaining proper records wt]ich disclose with reasonable accuracy at any time, the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act. Th¢y are also responsible for safeguarding th¢ asscts of thc charity and for taking rcasonablc st¢PS to pr¢vcnt and detect fraud and other irregularities. Trustee appointments are made as needed, following discussion and mutual agreement among existing trustees. Approval of Report Thib report was approved by the trustees on . 2910612026 2026 and signed on its b¢h21f by.. A W Jarvis- Trustcc A R Joncs- Trustcc
Independent Lxaminer's Report to the Trustees on the Account5 of Hayes Press Independent examlner's report to the trustees of Hayes Press I rcport to thc charity ttustccs on my cxamination of thc accounts of Haycs Prcss {thc Trust) for thc year ended 31 st December 2025. Responsibilities and basis of report A% the Lh21ity tru4tee4 of the Tiu%t you are re%pon4ible for the preparation of the a¢counts in accordance with the requirements of the Charities Act 2011 ('the Act,). J report in respect of my examination of the Truqt's accounts carried out under 8ection 145 of the Act and in carrying out my examination I have followed all applicable Direeiions given by the Charity Commission under section 145{51(b) of the Act. Independent examiner's statement I have completed my examin£1tion. I confinn that no material matters have come to my attention in conncction with the cxamination giving mc causc to belicvc that in any material rcspcct.. accountillg records wcrc not kcpt in rcspccl of th¢ Trust as r¢quircd by scction 130 of tlic Act. or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the fom) and content of accounts set out in the Charities IAceountS dnd R¢ports) R¢gu12tions 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent exatninaiion. I confirni that there are no other matters to which your attention should be drawn to enable a proper understanding of the a¢counts to be reached. Mr P Buck FCA, DChA Champion TLL Limited Charlered Accountavt.y and Regis¢eredALidiloYs 7 - 9 Station Road He8keth Bank Preston PR4 6SN Date.. 2910612026
HAYES PRESS Statement of financial activities for the year ended 31" December 2025 Unrestricted Restricted funds funds 2025 Total 2024 Total Note Ineome and Endowments from: Donations and legacies r¢ceiv¢d UK Deposit a¢¢ount int¢rest 20,718 3,036 20,718 3,036 22,979 5,107 Churituble artivities.. Sales 29,443 29,443 36,800 Toldl 53,197 53,197 101,063 Expenditure on: Churitable adivilies." Cost ofactivities in furtherance of the Cliarity'% objectives- Cost of Sales Other operating costs 19,829 35.438 19,829 35,438 24,790 46,551 Tolal 55,267 55,267 71,341 Net Income l (Expenditure) {2,070) (2,070) (6,455) Transfer5 Bctwccn Funds Total funds brought forward 119,262 119,262 125,717 Total funds carried forward 10 117,192 117,IY2 119,262 The result for the year shown above repre8ents the only re¢ognised gain or108s for the year. All turnover in the year relates to continuing operations. There is no difference between the historical cost result and that shown above since no assets have been subject to revaluation.
HAYES PRESS Balance Sheet as at 31, December 2025 2025 2024 Note FIXED ASSETS 19,908 21.106 CURRENT ASSETS Stock Debtor8 Cash at bank and in hand Deposit account 802 5,080 25,723 97,107 1,315 8,120 89,812 99,247 128,712 CURRENT LIABILITIES Creditors.. Amounts falling due within one year {1,963} (31,056) Yet Current Assets 97,284 97,656 TOTAL ASSETS 117,192 119262 REPRESENTED BY: Unr¢.strietedIneom*furtds." Gcncral Fund Balancc 97.284 97,656 Funds represented by Fixed Assets 19,908 21,606 Designated Fund- Trnnslation of Literature 10 117,192 119,262 Approved by the Board of Trustees on 2910612026 2026 and signed on its behalf by= A W Jarvis- Trustc¢ A R Jon¢s- Trustce
HAYES PRESS Note5 to the accounts for the )'ear ended 31. December 2025 l. Accounting Policies Basis of Accounting The ft)Ilow'ing aLLOUllting px)licies have been applied conbibtently in dealing with itemb which are ¢onsidere£l mateTial in rclation to thc charity's financial statcmcnts. The Finat]cial Statements have beet] prepaTed in accordance with the Statement of Recommended Practice alld applicable accounting 8tandard8, under the hi8torical co8t ci)nvention. The charity is exempt trom the requirement of Financial Reporting Sidiidar(Is to pi"epdre d Cash flow 5t4tenient ds it qudlifieb ds a s11111[ clidrity. Sales Salcs rcprcscnt nct invoiccd amounts, cxcluding Valuc Addcd Tax. Salcs in advancc rclating to thc coming ycavs 8ubscriplionq are shown within ¢rediiors on the Balance Sheei and taken into the Profit and Loss Account in the year to wliich they Telate. Tangible Fixed As5et5 Deprcciaiion 18 proi'ided on fixed as%ets at the following annual rates in order to write off each as8et over its estimated useful life.. Equipment- 250/0 reducing balan¢e Buildin85 20/0 straight line Stock Stock is valued at the lower of co8t and net realisable value, after making diie allowance for ob%olete and 8low-moving itemb writing down btock destined for flee distribution. TheTe is no stock at the year end fvllow'ing reductivn iii trade. DonAtions and legacies Donation and legacy income is included in the Statement of Fit]ancial Activities as it becomes due and is included in the relevani fund. Expenditure Expenditui"e ib chaTged to the Statement of Finaiicial Activitie5 on an acctua15 ba515. The charity ha5 taken advuntage of the SORP exemptions available to small charities in the classification of costs. Cost of sales represellts the net costs of the piimaiy purpvbe ttadiiig of tlie Lharity, adjusted for btvck inoN'tnients. FIn(le Losts hai'e beeli segregated as oveihea(b. that are not directly relating to the day-to-day runt]ing costs incurred in meeting the charity's objectives. Taxatioll Thcrc wcrc no chargcs for taxation in thc ycar, nor in thc prcvious ycar sincc thc Charity's activitics arc normally cxcmpt. Support Cost5 Suppurt costs are all dirtLtly attributable to the une charitsble expenditure cost heading bince there aTe fundtai5ing cobts or other chaTitable cost categorie5 ,as sucli a separate allocatloll Summary of support costs 15 not required. Fund5 Rcstrictcd funds arc thosc rclating to amounts rcccivcd with spccific donor conditions rcgarding thc purposc to which thosc fund5 should be used.
HAYES PRESS Notes to the account5 for the year ended 31. December 2025 (continued) 2. Direct Charitable Expenditure Within Direct Charitable Expenditure, operdting c(k8tg include the following: 2025 2024 Staff costs Advertising and publicity costs Dcprcciation Premiseq coqts Other costs 24,387 2,426 1,698 2,031 4,896 34,043 1,838 2,533 ,951 3,579 35,438 46,551 3. Employee Numbers and Costs The average number of full time equivalent employees for the year is as follows: 2025 number 2024 number Management and Administration The total staff costs relating to these employees is as follows= 2024 2023 Wages and salaries- sub ¢ontra¢tors 24,387 34,043 24,387 34,043 In accordance with the c.harity Act requirements. the trustees confirni that no employee received more than £60,000 during the year, being the reportable limit specified by the Charities Act.
HAYES PRESS Notes to the account5 for the year ended 31. December 2025 (continued) 4. Fixed Assets Freehold Property Equipment Total Cost." At 1st January 2024 Additions Disposals 84,818 42,738 127,556 At 31st DeCeber 2025 84,818 42,738 127,556 Deprgciation.. At 1st January 2024 Chargc for ycar Disposals 63,212 1,698 42.738 105.950 1,698 At 31 December 2025 (A,910 42,738 107,648 NÉI Bth?k Voltte.. At 31st December 2025 19,908 19,908 At 31st DeCeber 2024 21,606 21,606 All fixed assets are for use by the charity for direct charitable purposes. The treehold property was valued in 2022 ai £25,(K)O therefore an impairn)ent charge was accounted for ac¢ordingly in that year. 5. Stock 2025 21124 Goods for resale 802 802 6. Debtors 2025 2024 Trade debtors Sunclry dtbtOTS and prepayment 676 639 3,587 1.493 1,315 5,080
HAYES PRESS Notes to the account5 for the year ended 31. December 2025 (continued) 7. Current *5set investments 2025 2024 Developtnent fund monies deposited in Deposit aL¢ountS 97,107 97,107 97,107 97,107 8. Creditors: Amounts falling due within one s'ear 2025 2024 Tradc crcditors Deposits received in ad.&nCe So¢ial security and other tsxes Accruals 278 2,122 22,374 796 5.764 47 1,638 1,963 31,056 9. Pen5ion5 Pensions no longer apply as the only workers are on a sub-contract basis. 10. Reconciliation of movement in funds Fixed Assets De$ignat¢d General Fund Fund Futld Total Fund5 Total funds brought fonvard Mniyemcnt in the iEar.' Income Expenditure Transfcr between Funds 21,606 97,656 119.262 53,197 53.197 (53,569) (55,267) (1,698) Total funds carried fonvard 19,908 97,284 117,192