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2021-09-30-accounts

Wycliffe UK Ltd

Company number: 819788

Charity numbers: 251233 (England and Wales) SC039140 (Scotland)

Annual Report & Financial Statements for the year ended 30 September 2021

Contents

Annual Report

Audit Report and Financial Statements

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Vision

Wycliffe Bible Translators has a big vision: A world where everyone can know Jesus through the Bible.

Today, 1 in 5 people still don’t have the Bible in the language they understand best – that’s 1.5 billion people. Imagine not being able to turn to Psalms when you’re in trouble, or hear the Christmas and Easter stories read at church.

John Wycliffe translated the Bible into English in the 14th century. 640 years later, dedicated Bible translators are following in his footsteps and making extraordinary sacrifices to bring Scripture to their people.

Our mission is to serve local partners worldwide as they bring God’s word to their communities in the language which speaks to them best.

Objectives and activities

Of the world’s 7,378 languages, only 717 have a full Bible and a further 1,582 have a complete New Testament. The Bible transforms lives but if 1 in 5 people can’t understand God’s word for themselves, it can’t transform them as God intended.

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We work for people like Mussa, a church leader in Tanzania who speaks Ikoma. Christianity first came to the Ikoma people 70 years ago. There are now 120 churches. But there is still no Bible in their language. So Mussa has spent the last 12 years of his life translating the Bible into Ikoma for his people. Our supporters were able to help Mussa over the line, financing the printing of the first Ikoma New Testament.

‘When I got married, that was a good day,’ says Mussa. ‘When my children were born, those were good days. But when the day arrives when I will finally hold the New Testament in my hands – that will be the happiest day of my life.’

We believe we are participating in one of the most crucial aspects of world mission today: when people take the Bible’s message to heart, they are brought to faith in Jesus and equipped to live as his followers. In this way lives are changed by God and churches grow, with consequent lasting impact on whole communities.

Our primary contribution is through the provision of highly trained personnel, funding for translation programmes, and leadership and support services. Wherever possible, activities take place in partnership with local communities and local churches at their invitation. Translation programmes managed by partners typically include:

  1. Creating writing systems : the majority of languages with no Scripture have never been written down before.

  2. Literacy : teaching people how to read in their own language.

  3. Translation : bringing God’s word into their language for the first time.

  4. Scripture engagement: equipping people to understand the Bible’s message for themselves so they can read it more profitably.

A key principle is to train local people to do this work themselves, under their leadership and ownership, rather than outsiders doing it on their behalf. Hence, working with local and

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international partners, we aim to resource and mentor people with the skills, training, support, and funding they need. This approach invests in communities, allowing them to sustain development after our involvement has ended.

Wycliffe operates within a global framework of over 100 autonomous partners within the Wycliffe Global Alliance working together to bring the Bible to people in their languages for the first time. Wycliffe Global Alliance is involved in at least 75% of the 2,899 translation programmes currently in progress across the world. More Bible translation work is going on now than ever before, and the rate of progress has never been higher. We thank God for the generosity of supporters which makes this possible.

The public benefit of Bible translation activity reaches far beyond those who are becoming Christians, bringing whole communities the benefits of increased literacy and training – an essential platform also for wider community development and lifting people out of poverty.

The strategy employed to fulfil our objectives has been developed with reference to the Charity Commission’s guidance on public benefit. It is implemented through a strategic plan which aims at greater global impact and increased operational effectiveness.

We aim to:

  1. Enable successful Bible translation programmes (creating writing systems, literacy, translation, Scripture engagement) by building the capacity of local communities and international partners:

  2. a. Resourcing our partners with people – recruiting, training and connecting personnel (‘members’) to roles with partner organisations around the world, including in strategic leadership positions within the global Bible translation movement. We develop the skills that are needed and place people where they can have the greatest impact, as well as providing them with emotional, practical and spiritual support to sustain effective ministry.

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Achievements and performance

As one of the world’s largest participants in the global Bible translation effort, Wycliffe Bible Translators and our supporters continued to play a significant role in seeing the work accelerate.

It may have been a year of lockdowns and travel restrictions across the world, but the work of Bible translation has continued to progress. In the midst of all the difficulties, established work has continued, new work has begun, and excitingly large numbers of Bibles and New Testaments have been launched. Indeed, despite the pandemic, across the Bible translation movement, translation teams were able to launch more than one new translation every week!

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God has continued to ensure that his word is becoming more available to more people in their languages, so that more people can know Jesus through the Bible.

We are grateful to God, and to those who support this work, for the progress being made towards seeing our vision become a reality.

This progress has been supported by an internal change process across four areas, which sought to increase the capacity of the organisation significantly to respond to the pressing need to make God’s word available to all people. Achievements across the four areas were:

1. Identifying new members and volunteers

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2. Growing our supporter base

3. Resourcing our people and our partners

members serving around the world – for example, helping members in three countries to relocate due to Covid outbreaks, and supporting members in Tanzania whose work permits weren’t being reissued.

4. Upgrade staff productivity support

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from home, while only 6% say they feel less productive. If this pilot continues to prove successful, during 2022 we will review best use of the funds designated for a building.

We are enormously grateful to God for the hard work and dedication of members, staff and volunteers in playing their part to help create a world where everyone can know Jesus through the Bible.

Financial review

We continue to be deeply thankful to God for the many individual donors, charitable trusts, and churches who give so generously.

Total income for the year was £8,350k (2020: £7,185k), with donations and legacies providing 99% of this total (2020: 98%), including:

Total expenditure for the year was £7,862k (2020: £7,828k), with charitable expenditure representing 96% of this total (2020: 96%), comprising:

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4% of expenditure (£306k) was used to raise funds (2020: 4%, £329k).

The year ended with a surplus of £745k (2020: £739k deficit) after net investment gains/losses.

The balance sheet remains strong with net assets of £6,769k (2020: £6,024k) comprising:

Reserves policy

Wycliffe’s unrestricted funds come primarily from the sale of the Wycliffe Centre in 2013, which was sold to enable clear focus on our core strategic purpose. We believe these funds have been given to us by God to be directed towards our charitable aims over the long term, whilst maintaining current charitable activities.

£1.49m of it had been used strategically to build capacity in order to better support larger numbers of Bible translation projects sustainably for the long-term. This has involved

investment in our finance, fundraising, member care and project management teams and systems.

In 2013, £0.80m (restated) was received in donation income (excluding donations for member ministry), but by last year this had risen to £2.46m. With careful investment of the remainder of the Growth of Ministry fund and if God is willing, we hope to see this figure double during this decade. This will result in us becoming more able to be a generous and dependable partner for translation teams whose long-term work requires support they can rely on.

As part of this investment strategy, we had planned a deficit of about £500k for the year. Instead the year ended with a surplus in unrestricted funds of some £500k due to the generosity of all our supporters and unexpectedly high legacy income. As a result, and with reduced demand for an office building and with changed working patterns following the pandemic, the trustees intend to review the designated funds during the current year. It is anticipated that this will result in releasing further funds for investment in translation programmes. As a result of the surplus, at the end of the year, the general funds were higher by £532k while the other unrestricted funds were largely the same, as follows:

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Investment policy

Our long-term investment portfolio is managed by Rathbones. The trustees engage actively with them about the performance of the investments.

We have an ethical approach to investment. In selecting investments, Rathbones aims to invest in companies that are aware of both their wider responsibilities and the opportunities that will arise from the need for a more sustainable society and which also meet our environmental, social and governance considerations. Our investment policy specifically excludes companies whose principal business is in armaments, gambling, pornography, tobacco or alcohol.

Cash is held on deposit with a bank or invested in a minimum-risk cash fund with CCLA, which can be accessed immediately.

Future plans

Advances in technology and training mean that some exciting goals are possible within the next 15 years. If there continues to be increased engagement globally, we could see:

In order to fulfil our vision of a world where everyone can know Jesus through the Bible, we have been looking at how we can build capacity, set out below on a three-year horizon and plans for the next year.

Three-year horizon

Over the next three years we aim to have achieved a significant increase in impact and be ready for a changing world. We have three main strategic objectives for the next three years:

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1. Invest in international partner support. Because we work through partners, we

achieve greater impact by resourcing our partners with whatever they need from us to be successful. This will include: investing in member training; building greater capacity within our partners to train national workers;and increasingly providing the funds and support needed to help national leaders and their organisations in ways which support their long-term sustainability.

2. Scale up our support base . Increased investment in our international partners is generated by growth in our support – as Christians and churches support their work through us. This will include: growing non-member income by around 20% per year from 2023; growing the number of volunteers who can advocate for Bible translation in churches; and identifying additional individuals who have the potential to serve as members or volunteers.

3. Refresh our operating models. In a changing world, our internal systems and

assumptions will hold us back unless we review and refresh them. This will include: piloting a new member model that allows for more varied pathways for service; reviewing our corporate structure; and reviewing our internal operations with the goal of eliminating unnecessary complexity in order to be the agile and robust organisation our partners need.

2021–22 plans

During the current year we have planned activities and outcomes across our three main objectives:

1. Invest in international partner support:

2. Scale up our support base:

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3. Refresh our operating models:

Structure, governance and management

Governing documents

Wycliffe UK Ltd is a company limited by guarantee, and governed by its Memorandum of Association (October 2007) and Articles of Association (June 2008). It is registered as a charity with the Charity Commission and the Office of the Scottish Charity Regulator. Membership is open to anyone over the age of 18 able to affirm the Doctrinal Basis and wishing to serve in support of Bible translation. Each member with voting rights agrees to contribute £1 in the event of the company being wound up while they are a member or within one year of ceasing to be a member.

The charitable objects are:

  1. The Association is formed to glorify God by promoting:

  2. a. the translation of the Holy Scriptures into vernacular languages;

  3. b. the publication and distribution of these vernacular Scriptures.

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  1. The objects of the Association are:

  2. a. to promote the Christian faith and Christian religion and in particular the translation, publication and dissemination of the Bible in different languages;

  3. b. the advancement of education (particularly in relation to the Christian religion, knowledge of the Bible and Christian doctrine, faith and practice), language and literacy; and

  4. c. the relief of poverty.

Organisational structure

The Board of Trustees oversees the charity and normally meets quarterly. A sub-committee covers finance and legal matters, another covers HR issues and safeguarding; other advisory groups are formed as required. The Executive Director is appointed by the trustees to manage the day-to-day operations with delegated authority within terms approved by the trustees through a Governance Policy. The Executive Director is supported by a leadership team.

Trustee appointment, induction and training

New trustees are normally recruited by direct invitation from the existing board members and are identified either by the board members, by referral to the board, or by external advertising. In extending invitations to individuals, account is taken of the skills and diversity present and needed around the board table. Once mutual agreement as to the suitability of the appointment has been established, new trustees may be appointed to serve in association with the board until the next round of board elections which take place every two years. New trustees and those standing for re-election are elected by the voting membership and normally serve for a term of four years.

Induction of potential trustees includes provision of information on the requirements of being a charity trustee and company director as well as the governing documents and relevant guidelines from the Charity Commission and Companies House. They are invited to attend board meetings and other activities to familiarise themselves with the organisation. Trustees are encouraged to attend appropriate external training events where this will facilitate the undertaking of their role.

Charity Governance Code

The trustees refer to the Charity Governance Code and seek to implement the recommendations in continually aiming for best practice and ongoing improvement. Two current trustees have held office longer than the recommended maximum of three terms: in both cases this is for the benefit of the charity since one brings long experience of the wider global work of the charity’s international partners and the other long experience of relating to businesses and other charities committed to this sector of work.

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Personnel

Wycliffe is a membership organisation, with 420 members (FY20: 438) of whom 274 have voting rights (FY20: 288) at the year end. Members are not employees and so receive no salary from the organisation but are supported through the generosity of churches, friends, family and other donors. Donations for such member support are received by Wycliffe as restricted income. The majority of members are assigned to serve language programmes around the world in collaboration with partner organisations.

Non-voting members include those still in training or early assignment, together with retirees and honorary members recognised for outstanding contribution through their employed or volunteering roles.

In addition to members, personnel at the end of the year was 32 employees and 61 volunteers.

Remuneration of key management personnel

The trustees, who also serve as company directors, consider the key management personnel to be the board of trustees and the leadership team.

None of the trustees receive any remuneration or other benefit from their work with the charity. Trustees are required to disclose all relevant interests, including those with any related parties, and in accordance with the Governance Policy withdraw from decisions if any conflict of interest should arise. Details of trustee expenses and related party transactions are given in note 10 to the financial statements.

Salaries of the leadership team are set by the trustees with advice from the People Committee and reviewed annually with reference to charity sector benchmarks. The remuneration and benefits received by key management personnel is stated in note 9 to the financial statements.

Risk management

Our risk management strategy comprises:

In particular, this process has identified the following primary risks:

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The strategic plan was developed with reference to this risk-management strategy. The trustees review risk-management issues on a quarterly basis, and conduct a full risk review annually.

Safeguarding and whistleblowing

We are committed to providing a safe and trusted environment for our personnel, those we serve, and their families. We require the highest ethical and moral standards from all our personnel and take misconduct seriously. An independent reporting service is provided to encourage anyone to bring safeguarding or whistleblowing concerns to our attention. During the year no safeguarding issues were reportable to the Charity Commission (2020: none).

Fundraising

We are committed to ensuring that all fundraising is carried out in an ethical and godly manner, and have a Biblical fundraising policy which guides our practice in this area. The charity has registered with the Fundraising Regulator, and complies with its Code of Fundraising Practice. We do not engage outside agents to approach the public on our behalf.

We appreciate and encourage feedback, whether positive or negative. During the year we received two fundraising complaints (FY20: two). One was resolved in a timely manner; the other was anonymous so we were unable to reply.

We aim to treat all supporters with respect, dignity and confidentiality and seek to protect vulnerable people and others from unreasonable intrusion when receiving our fundraising communications. We monitor the responses to these communications together with feedback and requests for change, to ensure that recipients are in no way pressured into doing anything that they do not wish to do. We remove recipients from our mailing list whenever asked and adhere to our Vulnerable Supporters policy.

Related companies

Details of dormant subsidiary companies are given in note 20 to the financial statements. These are retained for name protection purposes only.

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Corporate directory

Wycliffe UK Ltd operates under the name of Wycliffe Bible Translators. Charity registration numbers 251233 (England and Wales) SC039140 (Scotland) Company registration Limited by guarantee, number 819788

Trustees

David Steinegger Chair Jane Showell-Rogers Vice-Chair Ayo Adedoyin (from 29 September 2021) Kevin Ashman Rebecca Benton Chair of People Committee Joe Kelly Ian Kirby Kenneth MacKenzie James Turner Chair of Finance & Legal Committee Roger Welch

Secretary

Esme Scott (from 29 September 2021)

Leadership team

James Poole Executive Director Neil Graham Director for Churches Claire Hollis Director of Finance & Operations Robin Peake Director for Supporters Ann Saunders Director for People

Bankers

National Westminster Bank plc, Commercial Banking Chilterns, 2nd Floor, Rapid House, 40 Oxford Road, High Wycombe, HP11 2EE

Investment managers

Rathbone Investment Management Ltd, 8 Finsbury Circus, London, EC2M 7AZ

CCLA Fund Managers Ltd, Senator House, 85 Queen Victoria Street, London, EC4V 4ET

Solicitors

Edward Connor Solicitors, 41 The Point, Market Harborough, LE16 7QU

Auditors

Critchleys Audit LLP, Beaver House, 23-38 Hythe Bridge Street, Oxford, OX1 2EP

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Registered office

Wycliffe UK Ltd, CMS House, Watlington Road, Oxford, OX4 6BZ

Other offices

Wycliffe Bible Translators, Skainos Square, 239 Newtownards Road, Belfast, BT4 1AF Wycliffe Bible Translators, ℅ EMW, Waterton Cross Business Park, South Road, Bridgend, CF31 3UL

Statement of trustees’ responsibilities

The trustees (who are also directors of Wycliffe UK Ltd for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. The trustees have elected to prepare the financial statements in accordance with UK Generally Accepted Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

So far as the trustees are aware at the time of approving the trustees’ report:

This report was approved by the trustees on 23 March 2022 and signed on their behalf by:

David Steinegger (Mar 31, 2022 13:56 GMT+1)

David Steinegger Chair

Then Jesus came to them and said, “All authority in heaven and on earth has been given to me. Therefore go and make disciples of all nations, baptising them in the name of the Father and of the Son and of the Holy Spirit, and teaching them to obey everything I have commanded you. And surely I am with you always, to the very end of the age.” Matthew 28:19-20 (NIV)

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Independent auditor’s report to the members of Wycliffe UK Ltd

Opinion

We have audited the financial statements of Wycliffe UK Ltd (‘the charitable company’) for the year ended 30 September 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 18, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities.

This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted

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by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Kirtland (Senior Statutory Auditor)

For and on behalf of Critchleys Audit LLP, Statutory Auditor Beaver House 23-38 Hythe Bridge Street Oxford

Apr 1, 2022

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WYCLIFFE UK LTD ststement of Flnunclul Aclivltles (includNng the income ond expenditure account) For the 12 month5 to 30 Seplember 2021 Current Yeur Reslrlrted fund5 Prloryeor estrlded funds Unrestrlcted funds Unreslrlcted Ivnds Total Totul Income from-. Donations and gift5 1,033,907 6,572,313 7,606,219 804,213 5,86?,469 6,666,682 LeOaCieS 609.713 80,320 690,033 271,020 98,834 369,854 1,643,620 6,652,632 8,296,251 1,075,233 5.961,302 7,036,536 Invèstments 36,753 36,753 106,338 106,338 Choritable activities 15.367 15,367 17,122 Olher ,905 1,905 25,129 25,129 Tottsl Income 1,697,646 6,652,632 8,350,278 1,223,823 5,961,302 7,185,126 Raising funds 306.487 306,487 3?8,572 328,572 Choriloble adiwlies 5,6,7 1.166.808 6,388,708 7,555,516 1,344,030 6,155,752 7,499,782 Total Expenditure 1,473,294 6,388,708 7,862,M2 1,672,6D2 6,155,752 7,828,354 Nel gain5111055e51 on inve51tnentS ?57,007 257,007 Net Incomellexpendit￿re) 481,359 263,924 745,283 1544,3971 1194.4491 1738,8471 Tronsfers between funds 10.17 24,194 124,1941 16.055 Net movement in knnds 505,553 39,730 745,283 1560,4521 1178,3941 1738,8471 Total funds brought forword 5.632.015 391,919 6,0?3,924 6,192,469 570,314 6,762,783 Total funds corried forward 0.137.568 631,649 6,709,217 5,632,017 391,920 6,023,934 Page 25

James Turner

David Steinegger (Mar 31, 2022 13:56 GMT+1)

James Turner (Mar 31, 2022 19:55 GMT+1)

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WYCLIFFE UK L TD Siotemenl of Cosh Flows For the year to 30 September 2021 30 Septembw 2Q21 30 Seplember 2020 Cttsh fli)ws from optrrotiftg Otfivitiés.. Net eosh providèd by (used in) operoling Otlivilies 525,152 1860,5311 Cush tlows from InvesNng uttlvhles.. Dividends and iDlere51 from I￿ve￿[DentS Proceeds frotD the sole of property, planl and equipment Purchose of property. plonl ond equipment Proteedi from sole of Inyeslmenls Purchase of inveilments Movement in investment cash 36,753 106,338 433,975 1309,7851 3,975,710 1284,7691 217,147 Net eush provlded by (used In) Invesllng ueNvllles 160,943 4,014,426 chonge in Cvsh ond eush eqvfvvients In ffte reportlng perlod 686,096 3,153,895 Cash ond co5h equivalent5 Qt the beginning of the reporting period 4,034,591 880,697 Cosh ond cash equivalents at the end of the reporting period 4,720,687 4,034,592 Rètontilitifioij ot ftet ineomè kn nèt eOSh tiow trom operatlng u¢Nvltles Net Incornellexpenditurel tor the reporting period las per the Stotemant ol Fintsncial Adivitiesl Adjustments for-. Oeprecialion charges Unrealised Igainsl/losses inve￿￿entS Dividends and iDlere51 from Inve￿[DentS L05$11profitl on the sole of fixed osset9 Ilncreosel I decreose in debtors IDecreoiel / increoie In creditors 745,283 1738,8471 43,629 95,619 1106,3381 1257,0071 136,7531 91.134 117,5041 162,4771 Net cosh provided by (used in) operating odivities 525,152 1860,5311 Angly5is 91 rush vnd rq5h eqvivplents Cash al bank and in hond 4,720,687 4,034,591 Tts￿1 tosh tsnd etssh equivtilejtrts 4,720,687 4,034,591 Page 27

WYCLIFFE UK LTD Notes fv Accovnts for yeur ended 30 September 2021 l. Accountlng pollcl•s Statement of compliance Wyclilfe UK Ltd 15 a charitable company limited by guarantee, incorporated in England, number 819788. The charity registered number In Englond ond Woles 1$ 251233 ond in Scotlond is SC039140. The registered office Is CMS House, Wotlington Rood, OxFord OX4 6BZ. The nature of operolion5 15 the adivity of religious organisalion5 and its principal adivitie5 are the work ol Bible Tronslotion, Scripture Use ond Literocy. The principol occovnting policies odopted, judgements ond key sources of estimotion vncertointy In the preporotion of the accounts are as follows.. ) Basls of prepurcrtlon and assessment of going concern Wycliffe UK Ltd is a public benefit entity. The financial stotements hove been prepared under the historical cost convention, modified by the revoluation of Investments to morket volue, und In coryplionce with the Companies Ad 2006, the Chorities Act 2011, FRS 102 The Financial Reporting Standord, ond the Charities SORP IFRS 1021. The trustees consider thol there ore no moterial uncertointies about the chority's obility to continue as o going concern. b) Grovp finunciol slulements These accounts incorporate the results of the charity and exclude any information for its wholly owned dormant subsidiary componies which ore detoiled In note 20 of these occounts. CJ Incom• Voluntary income urising from donations, gifts tsnd legucie$ Is Included in the Stotement of Finonciol Adivities when the charity is legally entitled to the income, it is proboble the income will be received and the amount con be quontified with reosonoble occuracy. For legacie5, entitlement is taken 05 the earlier of the date on which either the charity is aware that probate hus bee grunted, the estote has been finolised ond notilicolion hos been mode by the executorlsl thot a distribution will be made, or when a distributlon Is received from the eslale. Receipt of a legacyi in whole or in part, is only considered probable when the amount con be meosured reliobly and the chority hos been notified of the executor's intention to make o distribution. Where legucie5 have been notified to the charity, or the charity 15 aware of the granting of probate, the criteria lor income recognition hove not been mel, the legocy is Ireoted os a contingent osset ond disclosed if motÈriol. Gift Aid arising from donor5. gift5 15 applied to the sarne fund as the donulion, unle55 stipulated othepNi5e by the donor, ond in ihe accounting period In which the gift wos received. Interest received is credited to general funds by agreement of the membership. Income from other choritokile octivities Is recognised os eorned los the reloted services ore provided). Investment income is recognised on a receivable basis. d) Expènditurè All expenditvre Is recognised when o liobility Is Incurred and hos been clossified under heodings that aggregote all costs related to that particular heoding. Costs of raising fund5 are those cos15 incurred in attructing voluntary income. Costs of choritable oclivities, including gronts mode, are expenses directly incurred in ochieving the objedives of the churity. Governonce costs Include those Incurred In the governonce of the chority ond Its ossets ond ore primorily ossocioted with constitutionol and statutory requirements. Page 28

WYCLIFFE UK LTD Notes fv Accovnts for yeur ended 30 September 2021 Those costs not diredly atlributable to one porticulor activity ore ollocated on a percentage basis, which relleds on estimote of vsuge. Support costs ore not chorged to some reslrided funds os they con noi be eosily quontified ond ossessment Is token to cover some of these costs. Gronts poyoble ore poyments made to institutions or Individuols in the furtheronce of the charitable objects ol the chority and ore recognisecl when a conslrudive obligotion arises and the trustees have ogreed to pay the grant. e) Tanglble flxed ussets Tongible fixed assets ore stuted ot cost less depreciotion. Tangible fixed assets costing more thon £5,000 ore copitolised. Depreciatiori Is provided al the following rates on a straight line ba515 so as to write off each asset over its expecked useful working life.. Compuler equipment Furniture and other equipment Leusehold Improvements Between 3 and 5 years Belween 3 and l O years The term of the leose Investments Listed investments are stated at market valve. Realised ond unrealised gains are reflecled through ihe Statement of Finonciol Adivities. g) Cosh ot bonk tsnd in hond Cash ut bonk ond in hund include5 ts11 ctssh equivulents held as shorl-terrn liquid investments with maturities of three months or less. h) Penslon costs The churity operates o group Auto Enrolment quolifying pension defined contribution scheme, lor employees. The omount charged in the Statement of Financial Actrivitie5 15 the charity's conlribulion5 payable for the year. i) Foreign currencie5 Transactions in foreign currencies are translated to sterling at rates ruling at the date of the trun5adion. Assets and Iiobilities ore tronsloted into sterling ot the rote ol exchonge ruling ot the bolonce sheet dote. l) Lotts￿ ussèts Assets held Under finonce leoses, which ore leoses where substrontiolly oll the risks ond rewords of ownership hove possed to ihe charity, are recorded in the balance sheel as fixed assets and future obligations are included in creditors net of finonce chorges. Poyments ore opportioned between the copitol element ond the finonce element which Is chorged to the Statement of Financiol Activities as interest. The costs of operoting leoses ore chorged io expendilure os they ore due ond poyoble. k) Funds Generol funds are unrestrided funcls which ore ovailable for use ot the discretion of the trustees in furtherance of the general objeckives of the charity ond which have not been designated for other purposes. Designoted funds comprise unrestricled funds thot hove been set oside by the trustees for porticulor purposes os detoiled in note 16 to these uccounts. Restricted funds ore funds which ure to be used in tsccordunce with specific reslrickions imposed by the donors or which have been raised by the chority lor particular purposes as detailed in note 17. Page 29

WYCLIFFE UK LTD Notes fv Accovnts for yeur ended 30 September 2021 l) Volunteer setvlces The chority benefits from the serrfices ol volunteers who spend mony hours ossisting In vorious oreos os required. The trustees are of the opinion ihat ihe volunleers, ServI￿S are not reasonobly quantifiable or measurable and therefore no cost Is represented In the finonciol stotements. m) Judgements and key sovrces of estimirtion uncert(finty In preporing the Finunciol Statements. management is required to moke estimates and assumptions which affect reported Income, expenses, ossets, Iiobilities ond disclosure on contingent ossets ond Iiobilities. Use of ovoiloble Informotion ond application of judgement ure inherent in ihe formation of estimutes, together with expedations of future events that are believed to be reosonoble under the circumstonces. Actuol results In the future could differ from such estimotes. In the opinion of the trustees, there ore no judgements or key sources ol estimotion vncertointy In the preporotion of the accounts. 2. Income Donatlons and glfts Unrestrlcted fvnd5 Restrlcted fvnd5 2021 Totol Member ministry support Projeck and other funds Retirement ond supplementary Other gifts and donations 5,125,995 1,400,993 23,240 22,085 5,125,995 1,400,993 23,240 1,055,992 1,033,907 1,033,907 6,572,313 7,606,219 Unresfrff¢ted fvnds Re5tri¢ted funds 2020 Total Member ministrry support Project and other funds Retirement ond supplementory Other gifts and donations 5,066,167 726,735 30,086 39,481 5,066,167 726,735 30,086 843,694 804,213 804,213 5,862,469 6.666,682 Gifts received for the ministry of specific mernbers of ihe charity are forwarded io the specified rnember after the deduction of a ten percent ossessment. Assessment is olso taken upon receipt on gifts for projeds ond other funds. Retirement uncl supplernentary tunds enable the charity to make allocations lo any of its mernbers who do nol receive suFFicient funds for ba51C subsistence from other sources. Part of the assessment deducted by the charity is used io support purtner organisations ond is possed on together with the omounts forworded to members tss shown in note 7 to these occounls. Total Income 2021 Totol 2020 Totsl Individuals Churches Trusts cjnd others Legocies Investments 4,667,198 1,584,659 1.371,635 690,033 36,753 3,956,825 1,523,439 1.228,670 369,854 106,338 8 350,278 7 185 126 Page 30

WYCLIFFE UK LTD Notes fv Accovnts for yeur ended 30 September 2021 3. Exp•ndlture Stuff costs Dirert costs 2021 Total 2020 Total Expendtlure on roising funds (note 41 Charitable oclivilies (note 51 186,191 1,085,245 120.296 6,470,270 306,487 7,555,516 328,572 7,499,782 1 271 436 6 590 566 7 862 002 7 828 354 4. Expendlture on ralslng funds Unrestricted funds Re5tri¢ted funds 2021 Total 2020 Totul Roising donotions ond legocies Investmenl monogement costs 300,175 6,312 300,175 6,312 309,316 19,256 306,487 306,487 328,572 5. EXpendIfv￿ on ¢horitoble ts¢tivities Unrestricted funds Restricted fiinds 2021 Totol 2020 Totol Svpporting members Memkjer ministry 5upporl Member Core Training Retirement ond other support 4,747,257 350 24.305 4.747,257 144,302 26,979 4.642,882 143,905 98,085 45,407 143,952 2.674 146,626 4,771,912 4,918,538 4,930,279 Supporting projècts Project funding ond ossocioted costs Contributions to partner organisations 121,584 15.013 862,843 192,704 984,426 207,717 904,389 232,865 Supportlng church•s und support•rs Supporter engagement Church engagement 259,896 201,696 619 3,784 260,515 205,480 313,288 201,383 744,814 269,773 5,831,862 581.041 6,576,676 950,814 6,582,204 898,822 Support costs Governonce 28,026 28,026 18,756 1 142 613 6 412 902 7555516 7 499 782 O. Support costs Unrestrlcted funds Restrlcted fvnd5 2021 Totol 2020 Totsl IT 48,332 87,720 39,098 194,624 78,056 151,807 57,289 293,888 126,388 239,527 96,387 488,512 169,028 225,863 109,423 350,879 43,629 Finonce Office accommodation Administrotion Depreciation 369.773 581,041 950,814 898,822 Page 31

WYCLIFFE UK LTD Notes fv Accovnts for yeur ended 30 September 2021 7. Anotysls of gronts Grants to Instfflvtions Assoclttted Costs 2021 Tot(fl 2020 Totul SIL Internationol 673,546 53,054 726,601 756,696 Wycliffe Globul Alliunce Orguni5Utions Association Cenlralricaine pour lo Truduction de la Bible et I'Alphobétisotion IACATBAI Bible Tronslution und Literacy, East Africo IBTLI Comeroon Associotion lor Bible Tronslotion ond Literacy ICABTALI Ghono Institute of Linguistics, Literocy ond Bible Translation IGILLBTI L'Associotion Ncjlionale pour lo Troduction de la Bible et I'Alphobétisotion IANTBAI Wycliffe Canodo Wycliffe USA Other 28,790 4.351 33,141 35,703 45,745 34,614 7,178 4,530 52,923 39,144 57,768 17,818 62,332 5,954 68,286 48,514 27.352 3.785 31,137 23,381 34,812 36.821 94,613 5,256 3.720 6,614 40,068 40,541 101,227 54,689 Other Oryanlsutlons Moorlonds College Other 26,805 53,390 895 27,700 56,969 35,903 84,233 3,579 1,118,820 98,916 1,217,737 1,114,705 The gronts to SIL Internotionol ore for funding projett expenses ond support costs of both SIL ond portner orgonisotions, oll funds passing through an international finance system administered by SIL. They ure included in expenditure for Training und Supporting projeds. The gront to Moorlunds Colleges relute to the colloboration with Wycliffe In running the School of Lunguoge tsnd Scripture ISLSI. 8. Net In¢ome/(expendlfvre) 2021 2020 This Is stuted after churging/(crediting).. Depreciation Auditors remunerotion 43,629 11,232 2,856 3,182 130,029 11,760 660 14,267 72,294 other service5 Exchonge rote Igoinsl/losses Operuling lease rentals 9. Staff costs 2021 2020 Wages ond salories Socitsl security t05ts Pension costs 1,019,798 95,967 155,672 1,079,911 103,639 135,061 1 271,436 1,318,611 The overoge nvmber ol employees during the year was 3512020.. 361. No employees eorned more thon £60,000 In the yeor12020.. Nlll. The remuneration for the year of the key management personnel, including Nl and pension contributions, wos £306,177 12020 .. £328,974). At the yeor end £12,291 12020 restoted. £15,878) wos poyoble to the pension scheme. Redundancy and terminotion payments are accounted for in the period in which notice was given. During the year, such poyments omounted to £2,15312020.. £25,648) ond were chorged to vnrestrided funds. Page 32

WYCLIFFE UK LTD Notes fv Accovnts for yeur ended 30 September 2021 10. Truslees remuneratlon und r•loted porty trunsuctlons No member ol the board of trustees received any remuneration during the year12020". same). Six12020." seven) trustees were reimbursed £40012020. £8741 for trovelling expenses on beholf of the chority, whilst £810 of irovel ond occommodotion expenses were incurred directly12020.. £1651. Donations were received, both unrestrided and restrided, without any conditions ottoched, omovnting to £107,55812020.. £62,805) from six12020.. nine) trustees ond twelve12020.. twelve) other reloted porties during the yeor. There were no other related party transactions. I l. Tangible lixed ussets Furniture (fnd equipmènt Total Cost At l Odober 2020 Additions Eliminoted on disposols 167,950 167,950 1144,2311 1144,2311 At 30 September 2021 Depreciotion At l October 2020 Charge for thÈ year Elirninated on disposals 23,719 23,719 167,950 167,950 1144,2311 1144,2311 At 30 September 2021 23,719 23,719 Net book value, l Odober 2020 Net book value. 30 September 2021 12. Fixed osset inv•slm•nts At Market V(flue 2021 At l Odober 2020 Additions al cost Disposols ot open market volue Gains in rnorket value on revaluolion Reulised guins on disposol Movement in Inyestmenl cush 1,704,180 309,785 1433,9751 252,306 4,701 At 30 September 2021 1 836,997 Al cost At l October 2020 Additions Disposa15 al c05t Movement in investment cosh 1,393,725 309,879 1356,8911 At 30 September 2021 1,346,713 The portfolio is structured in investments including listed securities, in the furtheronce of the chcjrity's objectives. As ot 15 Morch 2022, the volue ol the portFolio hud devolved to £1,706,123 0$ o result ol losses in the stock morket in response to the war in Ukraine. Page 33

WYCLIFFE UK LTD Notes fv Accovnts for yeur ended 30 September 2021 13. Debtors 2021 Prepuyments and accrued income Tox recoveroble under Gift Aid Other debtor5 229,848 35,926 181,884 447,658 14. Creditors.. umounts falling dve within one year 2021 Amounts due to members Trade creditors Toxotion and sociol security costs Other creditors Accruals 78,826 33,086 33,661 31,400 59,152 236,125 15. Flnanclal commltments The charity hod iotal commitments Under non-concellable operating leoses tss follows.. 2021 Property leoses.. Not later than one year Loter thon one yeor ond not loter thon five yeors 20,053 2,445 22,498 16. Unrestrlctsd funds In¢oming resources fin¢l. vnreoli5ed galnsj Ai30 September 2021 At l O¢tober 2020 Resour¢es expended Transfers Generol fund I, i 00,000 1,954,653 11,447,139) 24,194 1,631,707 Designated funds Training need5 of members Grovrth ol ministry Future building requirements Project sustcjincjbility Accelerating Iran51ation impoct 256,509 943,210 2,000,000 557,297 775,000 256,509 943,210 2,000,000 557,297 748,845 126,1551 4,532,016 126,1551 4,505,861 Total unrestrided funds 5,632 016 1 954,653 1 473,294 24,194 6,137,569 The general lund repre5ent5 the uvailable unrestricted funds of the charity which are not designated for a particular purpose. All returns on Investments Including Income net of monugement expenses ond goins ond losses ore Included In the generol fund. The troining fund Is set oside for the development of slrotegic member troining. The growtrh of ministry fund Is set oside for the development of the ongoing work of the chority. As port of the strotegic plon, the trustees have pluns to spend down the bolunce of the fund over the short to medium term in line with strategic objedives. Page 34

WYCLIFFE UK LTD Notes fv Accovnts for yeur ended 30 September 2021 The future building funds are amounts set aside from the proceeds of the sale of the Wycliffe Centre in 2013 for the purchase of a property for the operotionol requirements of the chority. In light of new woys of working over the last few yeors, the trustees intend to assess this fund later this yeor. The project sustainability fund is sel aside to cover a year's expected luture expendilure of those international projeds which Wycliffe hos vndertoken to support, In order to guorontee thot support should lundroised income foll short or be eroded by foreign exchange movements. The occeleroting tronslotion Impod lund Is set oside for ongoing development ond to seek to fund new creotive Initiotives to advonce the work of the charity. 17. Restrff¢ted funds At30 September 2021 At l October 2020 Incomlng $our¢es Resources expended Transfers Retirement ond supplemenlary Members ministry support Internationul project funds Other Restrided funds 221,234 112.9701 5,198,646 1,443.312 23,644 117,7131 15,198,646) 11,147,160) 125,1891 190.551 139,836 30,849 124,1941 411,794 29,304 391,919 6,652,632 6,388,708 24,194 631,649 The retirement ond supplementory fund represents monies given to provide for the support of members whose income funds are temporarily insufficient. The members ministry support ond inlernotionol projed funds ore to provide SLJpport for members ond specific projects udmin15tered by purtners working oversea5. The transfer5 made in the yeor represent the use of the projeck susloinability fund. 18. Anatysls of nel assets behyeen funds Tangible fix•d assèts Net current ossèts At 30 September 2021 Invèstm•nts Totol General fund Designated funds Re5tricled fund5 1,631,707 2,668,862 631,649 1.631,707 4,505,859 631,649 1,836,997 1,836,997 4,932,219 6.769,216 19. Share capital The company does not hove ts shore copilol ond Is limited by guorontee. At 30 September 2020 there We￿ 42012020 .. 4381 members. There cjre 27412020 .. 2881 members with voting rights cjnd these members undertake to contribute such amount, up to o maximum of £1 each, os may be required In the event of the winding-up of the compony. 20. Svb$idiory ¢omptsnies The company hod the following wholly owned dormont subsidiary componies, incorporuted in England & Wules, during the year= Summer Institute of LinguistlC5 Ltd Wycliffe Associates Ltd WyclifFe Bible Translolors Ltd Page 35