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2024-09-30-accounts

Annual Report and Financial Statements Wyc Bib Trans iffe to 30 September 2024 ators

Contents

Annual Report

Audit Report and Financial Statements

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Vision

For centuries, the Bible has been the primary source of wisdom, hope and transformation. But what happens when the words that shape our faith in Jesus, inspire our lives and offer hope are beyond reach? What happens when the message that’s meant to heal the soul is trapped in a language you cannot understand?

At Wycliffe Bible Translators, we believe that everyone has the right to know what God is saying to them through the Bible . We are driven by the conviction that no-one should be left behind, no-one should be excluded from God’s invitation to salvation through Scripture.

For over 70 years, we have worked relentlessly, reaching across the globe – overcoming opposition, hostility and persecution. All in pursuit of one vision: to create a world where everyone can know Jesus through the Bible.

Because translation is more than words – it’s about eternal hope. It’s about giving people the opportunity to hear God speak directly to them in the language they dream in, laugh in, cry in. It’s about connecting communities to their Creator, bridging gaps that seem impossible to cross.

And when those connections are made, faith in Jesus grows, and churches flourish. Communities are strengthened, and leaders are equipped with the biblical truth they need to disciple others.

Immense progress has been made. Thanks to Wycliffe’s members, advances in technology, and our deep local partnerships, millions more are now engaging with God’s word. The Bible is being translated more than ever before, and more communities are encountering Scripture in ways that transform lives, building a legacy of faith that will last for generations.

But this mission is far from over.

With 1 in 5 people still waiting for the Bible in their own language, we press on with urgency and hope. Each translation goes beyond mere text; it’s about opening doors to transformation, equipping individuals and churches as they carry the light of the gospel.

We stand firm in the belief that every tribe, tongue and nation should have access to the Bible – because the word of God is a gift meant for all.

Together, we are unlocking God’s word for every heart.

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Donnatus’ story

We work for people like Donnatus David, from the isolated Nteng community in Nigeria. For decades, Nteng Christians struggled to understand Scripture, because the only Bible available was one in a language foreign to the community. God’s life-changing words found in the Bible could not speak into their hearts.

Now, they have access to some of Mark’s Gospel, and work is underway to unlock the rest of the Bible in their language. For Donnatus, the impact is already life-changing:

Donnatus and the Nteng community only have a few chapters of the Bible so far. But millions more do not have even a single verse. Many of those still waiting live in the most challenging corners of the world, in contexts where Christians are persecuted, or in places where the light of the gospel has yet to reach. Enabling the work of Bible translation is therefore critical to world mission, because the Bible brings people face to face with the person of Jesus, so they can share in the eternal hope of the gospel.

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Objectives and activities

Of the 7,396 languages spoken worldwide, only 756 have a full Bible, while a further 1,726 have a complete New Testament. 1 in 5 people are still waiting for the Bible in a language they can understand for themselves.

Translation programmes managed by our 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 fruitfully.

Our work is often in response to the invitation of local communities and local churches, working in partnership with them. We seek to be led by the Bible needs of our partners and to equip them with what they need to bring God’s word to their own people in their own language.

Our role is to develop awareness of the global translation task in the UK to enable successful Bible translation programmes by:

These people and funds are assigned in pursuit of our mission to serve local partners worldwide as they bring God’s word to their communities in the language which speaks to them best.

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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 – creating educational opportunities, laying a foundation 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. Our activities during the year were guided by the three-year strategy outlined in our Financial Year ending September 2021 (FY21) report, focused on three main strategic objectives to Invest in international partner support , Scale up our support base and Refresh our operating models . During the year, we have been through the process of developing a new strategic plan (detailed in Future plans ) to serve our partners as we work together towards a world where everyone can know Jesus through the Bible.

Achievements and performance

The global translation movement

We are one of the primary organisations within the Wycliffe Global Alliance, a network of over 100 organisations working together to bring the Bible to people in their languages for the first time. Together, we are involved in over 75% of the 4,012 languages that currently have work in progress across the world.

Standing with others, we have a historic opportunity for global impact, with recordbreaking progress continuing to be made each year. During the year, highlights from the world of Bible translation include:

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Generations of faithful mission workers, decades of nurtured partnerships, unprecedented global generosity, incredible technological breakthroughs, and years of steadfast prayer have led to this moment – when it is now possible to imagine a world where the dream that everyone can know Jesus through the Bible becomes reality. Within the next 15 years, it is possible we could see:

Our organisation’s impact

As one of the world’s largest organisations working in Bible translation, Wycliffe Bible Translators and our supporters continue to play a significant role in the acceleration of Bible translation globally. Wycliffe people from the UK and Ireland are serving over 580 million people who speak over 320 languages in over 60 countries around the world .

This year was the final year in our three-year strategy, which aimed to Invest in international partner support , Scale up our support base and Refresh our operating

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models . During the year, significant strides in all these areas have elevated the impact of our work and enabled us to reach more people with the life-changing words of the Bible in their language.

1. Invest in international partner support

2. Scale up our support base

3. Refresh our operating models

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In addition, a carbon footprint report was produced by Climate Stewards, indicating a carbon footprint of 276.0 tCO2e for our activities during calendar year 2023. This has been offset with Climate Stewards, supporting programmes which bring multiple local benefits to communities as well as removing or reducing carbon dioxide.

We are ever grateful to God for the hard work and dedication of members, employees and volunteers working alongside our generous supporters to help create a world where everyone can know Jesus through the Bible.

Financial review

Income

We continue to be deeply thankful to God for the many individual donors, charitable trusts, and churches who give so generously to help create a world where everyone can know Jesus through the Bible.

Total income for the year was £9,668k (2023: £9,343k), with donations and legacies providing 97% of this total (2023: 98%), including:

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Expenditure

Total expenditure for the year was £10,395k (2023: £9,385k), with charitable activities expenditure representing 92% of this total (2023: 92%), comprising:

A total of 8% of expenditure (£823k) was used to raise funds (2023: 8%, £782k).

All of the above costs include an allocation of centralised support costs such as HR, Finance, and IT.

Balance sheet

At the end of September we had net assets of £6,858k (2023: £7,313k) comprising:

This reduction in overall net assets is due to a strategic decision to provide £1,089k of additional funding for translation programmes in order to reduce our reserves and increase our impact. This was the key driver in the year-end deficit of £455k (2023: £82k surplus) after net investment gains. This additional expenditure on translation programmes comes from the accelerating impact fund designated reserve and is included in the overall expenditure of £3,370k on translation partners and programmes. Without this £1,089k expenditure there would have been a surplus of £634k for the year.

Reserves policy

Our policy is to maintain an unrestricted general fund at a level sufficient to cover six months of operating costs in order to ensure the ongoing work of the charity in the event of a significant reduction in support. As at 30 September 2024, £1,620k was held in this general fund, comprising six months of planned operating costs for the next financial year.

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Designated funds (see note 15) are held as follows:

The programme sustainability fund ensures that, together with programme restricted funds, we hold funds sufficient to provide 12 months of anticipated ongoing grants to our partners. This programme sustainability fund is providing short-to-medium-term reassurance to our partners that we won’t let them down if we are faced with short-term income volatility or foreign exchange movements. With a New Testament translation taking at least five years, and a full Bible translation taking at least 10 years, dependability of funding for the long-term nature of Bible translation is crucial for our partners.

Stewardship of the growth of ministry fund over the past few years has allowed us to make strategic investments in the charity as we pursue our vision of a world where everyone can know Jesus through the Bible. We plan to use this fund to enhance our marketing and fundraising activities going forward, growing our donor base (particularly of regular donors), building on the £108k used in this way during the year. To see the impact that the investment in raising income had during the year, see the achievements reported under Scale up our support base above.

With the pace of Bible translation quickening, the accelerating impact fund allows us to make multi-year strategic investments in the capacity of our partners. The level of disbursement from the fund increased significantly to £1,089k during the year (2023: £762k) and, following the notification of large legacies late in the year, the trustees added a transfer from general funds of £687k. We expect to spend over £1,200k from this fund in the current year to invest in partners’ work in Bible translation.

Restricted funds amounted to £715k at 30 September 2024 (2023: £690k), with these restrictions primarily relating to programme and partner funds.

The total charity funds held at the year end represent 7.8 months (2023: 8.2 months) of the total planned expenditure for the current year.

Investment policy

Our investment policy is to keep funds needed for short-to-medium-term purposes in cash or cash equivalents which can be accessed immediately or within 12 months, and for long-term funds to be invested in order to achieve a total return exceeding inflation.

During the year, the long-term funds were invested in a portfolio, managed by Rathbones, and in Cazenove’s Charity Responsible Multi-Asset Fund. The total value of these investments was £3,065k (2023: £2,726k), with £282k revaluation gains in the year. The fund performance exceeded the investment objectives.

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We have a responsible approach to investment, precluding investment in companies whose principal business is in armaments, fossil fuels, gambling, pornography, tobacco or alcohol.

After the year end, the trustees decided to consolidate all the long-term investments in the Cazenove Charity Sustainable Multi-Asset Fund and accordingly wound up and reinvested the Rathbones portfolio. The trustees will review the performance of the investments and Cazenove annually.

Future plans

In order to fulfil the vision of a world where everyone can know Jesus through the Bible, we have developed a new strategic plan for 2024–2027, which embraces the challenges of Bible translation today. Our strategic mission priorities over the next three years are to:

Increase translation impact

Working at the frontline, our partner organisations are bringing God’s word to communities in need by developing clear, natural, faithful Bible translations and with plans in place to see them used. Translation programmes that focus on access to the whole Bible, helping churches and individuals to build their lives on its teaching, will have the greatest long-term impact. We serve these organisations by providing skilled, godly people to work alongside them, particularly in training and mentoring roles. We also offer funding, provide programme design assistance, and mobilise crucial prayer support, recognising the spiritual battle involved. All our activity at this level is geared towards skills transfer to the partner organisation, building their long-term capacity.

Strengthen local sustainability

Bible translation programmes are best led by national (or regional) partners, as local leaders understand their community’s needs, are connected to local churches, and can make culturally appropriate decisions. The stronger these organisations, the more effectively they can meet the needs of the people for the Bible across their country. We prioritise developing this local capacity. Whether small or large, strong or weak, in Christian or persecuted contexts, we support partners with the practical help they need to flourish. This includes training in both technical translation skills and essential operational skills such as HR, finance and governance. Wherever possible, we train trainers, multiplying the skills transfer over time. We also provide funding to develop local leadership and build capacity, always aiming to avoid over-reliance on external partners like us, fostering long-term sustainability.

Advance the global movement

Local translation organisations rely on a broader global network for support. We actively participate in this global network to strengthen the functions needed by local partners. This includes providing people to serve in key leadership roles in the Bible translation

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movement, developing software (including AI tools), creating training materials, and hosting conferences. The Bible translation movement is increasingly diverse, with more and more organisations seeing the need for Bible translations and entering this space. Praise God! We aim to model best practice, share knowledge, and amplify the voices of local leaders, ensuring this ever-changing global movement serves their needs in bringing God’s word to their communities.

To achieve these ambitious goals, over the next three years we will focus on three operational priorities:

1. Deliver mission objectives

We want to get smarter in how we deliver our impact. So over the next three years we plan to sponsor more high-quality Bible translation programmes, including working alongside local partners as they launch new programmes in languages where there is no active attempt to improve on translations that are inadequate, incomplete or inaccessible. We aim to support in-country partners to strengthen local sustainability, by deploying people and funding to support them, and by recruiting and deploying a wellmanaged bench of 15 specialists to bolster partner organisations in essential operational skills.

2. Supercharge support

We need to increase our efforts in growing resilient income, engaging more churches, finding more people willing to serve, and raising more prayer support. So over the next three years we aim to make it easier for our team of staff, members and supporters to know how best to pray for our mission; and to mobilise 25 new members to deliver our mission. We are aiming to grow fundraised donations sustainably, with plans to see significant growth in the number of donors, underpinned by growth in the number of Give the Word partners (monthly givers) and church speaking engagements.

3. Optimise resources and talent

To deliver these changes we must further enhance some of our internal functions and work effectively together as a team. So over the next three years we plan to continue to recruit, train and retain a high-calibre staff team and strengthen a culture where every staff member thrives. We aim to achieve more than expected – given our size and resources – by good stewardship of time and money, demonstrated by improvements in processes, systems and initiatives which consistently and continuously seek to improve how we work, and to strategically invest funds from our accelerating impact fund for the benefit of partners.

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Structure, governance and management

Governing documents

Wycliffe UK Ltd is a company limited by guarantee, and governed by its Memorandum of Association (June 2022) and Articles of Association (June 2022). We are 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 of our members 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.

Our 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.

  4. The objects of the Association are:

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

  6. 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

  7. c. the relief of poverty.

Organisational structure

The Board of Trustees oversees the charity and normally meets quarterly. A subcommittee covers finance and legal matters, another covers HR issues and safeguarding, and a third oversees remuneration. Other advisory groups are formed as required. The Executive Director is appointed by the trustees to manage the day-to-day operations

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with delegated authority within terms approved by the trustees through a Governance Policy. The Executive Director is supported by a leadership team that directs our activities with churches, supporters and partners, and ensures our people, finances and operations are cared for and managed appropriately.

Trustee appointment, induction and training

New trustees are normally recruited by direct invitation from the existing board members; they are identified either by the board members, by referral to the board, or by external advertising. In considering nominations, we take into account the skills and diversity present and needed around the board table, and continue to seek to broaden our team of trustees. Once the trustees have mutually agreed that the appointment is suitable, 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.

We provide potential trustees with an induction that includes 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. We encourage trustees 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. One current trustee has held office longer than the recommended maximum of three terms; the trustees consider this to be for the benefit of the charity since the individual brings long experience of relating to businesses and other charities committed to this sector of work.

People

We are a membership organisation, with 417 members (2023: 426), of whom 251 have voting rights (2023: 257) at the year end. Members are not employees and so receive no salary from us as an 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 some members with primary membership of other organisations in the Wycliffe Global Alliance, retirees, and honorary members recognised for outstanding contribution through their employed or volunteering roles.

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In addition to members, at the end of the year 50 employees and 78 volunteers were serving with Wycliffe.

Remuneration of key management personnel

The key management personnel are considered to be the Board of Trustees (who also serve as company directors), the Executive Director, and the leadership team.

None of the trustees receives 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 they will withdraw from any discussions or decisions if any conflict of interest should arise. Details of trustee expenses and related party transactions are given in note 9 to the financial statements.

Compensation of our Executive Director is set by the trustees with advice from our Remuneration Committee and reviewed annually with reference to charity sector benchmarks. The remuneration and benefits received by key management personnel are stated in note 8 to the financial statements.

Risk management

Our risk management policy, developed in line with Charity Commission Guidance CC26, identifies risks and assesses their potential impact. We seek to reduce risk through mitigating actions, and keep our risk profile under regular review.

The Executive Director, supported by the leadership team, is responsible for compiling a risk register, evaluating significant risks, putting in place suitable actions to reduce risks as far as possible, and fostering an environment where new and changing risks can be identified and escalated. This risk register was reviewed by both the trustees and the leadership team during the year.

The Board also reviews individual risk areas, on a rolling basis, every quarter. During the year, these individual risk reviews included loss of key people, security of people and reputational risk.

The following continue to be the principal risks:

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The strategic plan was developed with reference to this risk management strategy.

Safeguarding and whistleblowing

We are committed to providing a safe and trusted environment for our people, those we serve, and their families. We require the highest ethical and moral standards from all our people 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 (2023: 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.

As part of our commitment to engaging supporters and growing our impact, we engaged an external fundraising contractor during the year to help build relationships with individuals who share our vision and values.

We have a team of volunteer church speakers who raise awareness of our work and invite financial support from congregations and individuals. These volunteers are provided with guidance and training to ensure their fundraising is carried out in a way that is aligned with our values, and after their speaking engagements their talks are listened to and evaluated. The charity has registered with the Fundraising Regulator, complies with its Code of Fundraising Practice, and ensures that those who represent us do too.

We appreciate and encourage feedback, whether positive or negative. During the year we received one fundraising complaint (2023: three). An appropriate response was made and it was resolved in a timely manner.

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

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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 19 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 (until 25 June 2024) Ayo Adedoyin Kevin Ashman Rebecca Benton Chair of People Committee, Chair of Remuneration Committee

Rachel Bradley Mary Comont Ian Kirby Kenneth MacKenzie James Turner Vice-Chair (from 18 September 2024), Chair of Finance & Legal Committee

Secretary

Esme Scott

Leadership team

James Poole Executive Director Andy Bell Director for International Partnerships Neil Graham Director for Churches Claire Hollis (until 31 May 2024) Director of Finance & Operations Robin Peake Director for Supporters Ann Saunders Director for People Gillian Wright (from 1 July 2024) Director of Finance & Corporate Services

Bankers

National Westminster Bank plc, High Wycombe Branch, 33 High Street, High Wycombe, Bucks HP11 2AG

Investment managers

CCLA Fund Managers Ltd, 1 Angel Lane, London EC4R 3AB

Schroder & Co Ltd, trading as Cazenove Capital, 1 London Wall Place, London EC2Y 5AU Rathbone Investment Management Ltd, 30 Gresham Street, London EC2V 7QN

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Solicitors

Edward Connor Solicitors, 41 The Point, Market Harborough LE16 7QU Anthony Collins Solicitors LLP, 134 Edmund Street, Birmingham, West Midlands B3 2ES

Auditors

Gravita Audit Oxford LLP, Park Central, 40–41 Park End Street, Oxford OX1 1JD

Registered office

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

Other offices

Wycliffe Bible Translators, NCM House, 218 York Street, Belfast BT15 1GY 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

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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.

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 20 March 2025 and signed on their behalf by:

David Steinegger (Mar 27, 2025 13:18 GMT)

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 2024 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.

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

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 20, 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:

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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.

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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 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 Gravita Audit Oxford LLP, Statutory Auditor Park Central

40–41 Park End Street Oxford

27/3/2025

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WYCLIFFE UK LTD

Statement of Financial Activities

(including the Income and Expenditure account) For the year ended 30 September 2024

2024 2023
Notes Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
£ £ £ £ £ £
Income from:
Donations and gifts 2 1,999,684 6,659,926 8,659,610 2,181,293 6,556,330 8,737,623
Legacies 647,129 82,146 729,275 305,562 76,000 381,562
2,646,813 6,742,072 9,388,885 2,486,855 6,632,330 9,119,185
Investments 268,808 - 268,808 206,024 - 206,024
Charitable activities 9,624 - 9,624 16,033 - 16,033
Other 997 - 997 2,025 - 2,025
Total income 2 2,926,242 6,742,072 9,668,314 2,710,937 6,632,330 9,343,267
Expenditure on:
Raising funds 3 741,903 81,861 823,764 699,317 82,957 782,274
Charitable activities 3 2,936,142 6,635,506 9,571,648 2,080,110 6,522,429 8,602,539
Total expenditure 4 3,678,045 6,717,367 10,395,412 2,779,427 6,605,387 9,384,813
Net gains/(losses) on 11 272,553 - 272,553 123,663 - 123,663
investments
Net income/ 7 (479,250) 24,705 (454,545) 55,173 26,943 82,116
(expenditure)
Transfers between funds 15,16 - - - (3,500) 3,500 -
Net movement in funds (479,250) 24,705 (454,545) 51,673 30,443 82,116
Reconciliation of funds
Total funds brought 6,622,869 690,088 7,312,957 6,571,196 659,645 7,230,841
forward
Total funds carried 6,143,619 714,793 6,858,412 6,622,869 690,088 7,312,957
forward

Page 27

WYCLIFFE UK LTD

Balance Sheet as at 30 September 2024

Notes
Fixed assets
Tangible assets
10
Investments
11
Total fixed assets
Current assets
Debtors
12
Cash at bank and in
hand
Creditors
Amounts falling due
within one year
13
Net current assets
Net assets
Funds
Unrestricted funds
General fund
15
Designated funds
15
Restricted funds
16
Total charity funds		 30 September
2024
£
22,864
3,065,048
3,087,912
769,146
3,349,349
4,118,495
(347,995)
3,770,500
6,858,412
1,619,481
4,524,138
6,143,619
714,793
6,858,412		 30 September
2023
£
29,723
2,726,402
2,756,125
198,092
4,611,651
4,809,743
(252,911)
4,556,832
7,312,957
1,590,430
5,032,439
6,622,869
690,088
7,312,957

The financial statements of Wycliffe UK Ltd, registered number 819788, were approved by the Board on 20 March 2025 and signed on its behalf by:

_____ David Steinegger (Mar 27, 2025 13:18 GMT) David Steinegger Chair

_________ James Turner (Mar 27, 2025 15:01 GMT) James Turner Treasurer

Page 28

WYCLIFFE UK LTD

Statement of Cash Flows

For the year ended 30 September 2024

Cash flows from operating activities:
Net cash provided by (used in) operating
activities
Cash flows from investing activities
Dividends and interest from investments
Purchase of property, plant and equipment
Proceeds from sale of investments
Purchase of investments
Net cash provided by (used in) investing
activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period
Reconciliation of net income to net cash
flow from operating activities
Net income/(expenditure) for the
reporting period (from Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Unrealised (gains)/losses on investments
Dividends and interest from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating
activities
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 30 September 2024
£
£
(1,465,017)
268,808
-
182,067
(248,160)
202,715
(1,262,302)
4,611,651
3,349,349
(454,545)
6,859
(272,553)
(268,808)
(571,054)
95,084
(1,465,017)
3,349,349
3,349,349		 30 September 2023
£
£
(185,009)
206,024
(34,296)
245,375
(1,275,775)
(858,672)
(1,043,681)
5,655,332
4,611,651
82,116
4,573
(123,663)
(206,024)
125,165
(67,176)
(185,009)
4,611,651
4,611,651		 30 September 2023
£
£
(185,009)
206,024
(34,296)
245,375
(1,275,775)
(858,672)
(1,043,681)
5,655,332
4,611,651
82,116
4,573
(123,663)
(206,024)
125,165
(67,176)
(185,009)
4,611,651
4,611,651
(1,043,681)
5,655,332
4,611,651
82,116
4,573
(123,663)
(206,024)
125,165
(67,176)
(185,009)
4,611,651
4,611,651

Page 29

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

1. Accounting policies

Statement of compliance

Wycliffe UK Ltd is a charitable company, limited by guarantee, incorporated in England, number 819788. The charity registered number in England and Wales is 251233 and in Scotland is SC039140. The registered office is CMS House, Watlington Road, Oxford OX4 6BZ. The nature of operations is the activity of religious organisations and its principal activities are the work of Bible translation, Scripture use and literacy.

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the accounts are as follows:

a) Basis of preparation and assessment of going concern

Wycliffe UK Ltd is a public benefit entity. The financial statements have been prepared under the historical cost convention, modified by the revaluation of investments to market value, and in compliance with the Companies Act, 2006, the Charities Act 2011, FRS 102 The Financial Reporting Standard, and the Charities SORP (FRS102).

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

b) Group financial statements

These accounts incorporate the results of the charity and exclude any information for its wholly owned dormant subsidiary companies which are detailed in note 20 of these accounts.

c) Income

Voluntary income arising from donations, gifts and legacies is included in the Statement of Financial Activities when the charity is legally entitled to the income, it is probable the income will be received, and the amount can be quantified with reasonable accuracy.

For legacies, entitlement is taken as the earlier of the date on which either the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executors’ intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material.

Gift Aid arising from donor’s gifts is applied to the same fund as the donation, unless stipulated otherwise by the donor, and in the accounting period in which the gift was received.

Interest received is credited to general funds by agreement of the membership.

Income from other activities is recognised as earned (as the related services are provided).

Investment income is recognised on a receivable basis.

Page 30

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

1. Accounting policies (continued)

d) Expenditure

All expenditure is recognised when a liability is incurred and has been classified under headings that aggregate all costs related to that particular heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Costs of raising funds are those costs incurred in attracting voluntary income.

Costs of charitable activities, including grants made, are expenses directly incurred in achieving the objectives of the charity.

Governance costs are those costs incurred in connection with the compliance with constitutional and statutory requirements of the charity.

Support costs comprise those costs which are incurred directly in support of expenditure on the objects of the charity and include governance costs, finance and office costs. Support costs are allocated to each of the activities on one of the following bases: either expenditure or average staff headcount depending on the nature of the support costs, to best allocate the costs to each attributable heading. More detail on the analysis and basis of allocation is given in note 5.

e) Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Tangible fixed assets costing more than £5,000 are capitalised. Depreciation is provided at the following rates on a straight-line basis so as to write off each

asset over its expected useful working life:

Computer equipment Between 3 and 5 years Furniture and other equipment Between 3 and 10 years Leasehold improvements The term of the lease

f) Investments

Listed investments are stated at market value. Realised and unrealised gains are reflected through the Statement of Financial Activities.

g) Cash at bank and in hand

Cash at bank and in hand includes all cash equivalents held as short-term liquid investments with maturities of three months or less.

h) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

i) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 31

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

1. Accounting policies (continued)

j) Pension costs

The charity operates a group Auto Enrolment qualifying pension defined contribution scheme for employees. The amount charged in the Statement of Financial Activities is the charity’s contributions payable for the year.

k) Foreign currencies

Transactions in foreign currencies are translated to sterling at rates ruling at the date of the transaction. Assets and liabilities are translated into sterling at the rate of exchange ruling at the balance sheet date.

l) Leased assets

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership have passed to the charity, are recorded in the balance sheet as fixed assets and future obligations are included in creditors net of finance charges. Payments are apportioned between the capital element and the finance element, the latter being charged to the Statement of Financial Activities as interest.

The costs of operating leases are charged to expenditure as they are due and payable.

m) Funds

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for any other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes as detailed in Note 15 to these accounts.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes as detailed in note 16.

n) Volunteer services

The charity benefits from the services of volunteers who spend many hours assisting in various areas as required. In accordance with the Charities SORP (FRS102), the value of volunteers’ services is not represented in the financial statements.

o) Judgments and key sources of estimation uncertainty

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure on contingent assets and liabilities.

Use of available information and application of judgment are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances.

Actual results in the future could differ from such estimates.

In the opinion of the trustees, there are no judgments of key sources of estimation uncertainty in the preparation of the accounts.

Page 32

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

2. Income

Donations and gifts
Member ministry support
Members
Members of partner organisations
Programme and partner support
Supplementary funds
Other gifts and donations
Member ministry support
Members
Members of partner organisations
Programme and partner support
Supplementary funds
Other gifts and donations		 Unrestricted
funds
£
-
-
-
-
1,999,684
1,999,684
Unrestricted
funds
£
-
-
-
-
2,181,293
2,181,293		 Restricted
funds
£
4,784,797
430,832
1,381,654
41,241
21,402
6,659,926
Restricted
funds
£
4,668,026
403,967
1,449,251
20,042
15,044
6,556,330		 2024
Total
£
4,784,797
430,832
1,381,654
41,241
2,021,086
8,659,610
2023
Total
£
4,668,026
403,967
1,449,251
20,042
2,196,337
8,737,623

Gifts received for the ministry of specific members of the charity are forwarded to the specified members after the deduction of an eight percent assessment. Assessment is also taken upon receipt of gifts for projects, members of partner Wycliffe organisations and other funds. Supplementary funds enable the charity to make allocations to any of its members who do not receive sufficient funds for basic subsistence from other sources.

Total income by source
Individuals
Churches
Trusts and others
Legacies
Investments		 2024
Total
£
5,118,413
1,724,022
1,827,796
729,275
268,808
9,668,314		 2023
Total
£
5,143,968
1,667,647
1,944,066
381,562
206,024
9,343,267

Page 33

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

3. Total expenditure

Staff and Grants Total Support and 2024 2023
other direct and direct governance Total Total
expenditure member costs costs
support
£ £ £ £ £ £
Raising funds
Raising donations and legacies 663,983 - 663,983 139,285 803,268 767,803
Investment management costs 16,942 - 16,942 3,554 20,496 14,471
680,925 - 680,925 142,839 823,764 782,274
CHARITABLE ACTIVITIES
Supporting churches and supporters
Supporter engagement 431,871 - 431,871 102,391 534,262 408,335
Church engagement 258,335 - 258,335 61,248 319,583 286,354
690,206 - 690,206 163,639 853,845 694,689
Supporting members
Member ministry support - 4,535,775 4,535,775 519,310 5,055,085 4,998,494
Member care 262,973 - 262,973 30,108 293,081 257,014
262,973 4,535,775 4,798,748 549,418 5,348,166 5,255,508
Supporting programmes and partners
Project funding and associated 230,894 2,220,704 2,451,598 255,192 2,706,790 2,018,056
costs
Member ministry support of - 390,718 390,718 40,671 431,389 419,408
partner organisations
Contributions to partner - 209,636 209,636 21,822 231,458 214,878
organisations
230,894 2,821,058 3,051,952 317,685 3,369,637 2,652,342
TOTAL CHARITABLE ACTIVITIES 1,184,073 7,356,833 8,540,906 1,030,742 9,571,648 8,602,539
TOTAL EXPENDITURE 1,864,998 7,356,833 9,221,831 1,173,581 10,395,412 9,384,813

Page 34

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

4. Expenditure summary

Raising funds
Supporting churches and supporters
Supporting members
Supporting programmes and partners
Total expenditure		 Unrestricted
funds
Restricted
funds
2024 Total
2023 Total
£
£
£
£
741,903
81,861
823,764
782,274
763,427
90,418
853,845
694,689
532,779
4,815,387
5,348,166
5,255,508
1,639,936
1,729,701
3,369,637
2,652,342
3,678,045
6,717,367
10,395,412
9,384,813

5. Support and governance costs

Department
Basis of allocation
IT
Average headcount
Finance
Expenditure
Administration
Expenditure
Office accommodation
Average headcount
Depreciation
Average headcount
Governance
Expenditure		 Unrestricted
funds
Restricted
funds
2024 Total
2023 Total
£
£
£
£
109,779
130,498
240,277
144,724
170,845
195,573
366,418
318,246
216,768
245,340
462,108
493,165
25,023
27,895
52,918
52,101
6,859
-
6,859
4,573
45,001
-
45,001
34,981
574,275
599,306
1,173,581
1,047,790

Page 35

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

6. Analysis of grants

SIL International
Wycliffe Global Alliance organisations
Bible Translation and Literacy, East Africa
Wycliffe Africa
Wycliffe Canada
Wycliffe Netherlands
Wycliffe USA
Other
Other organisations
Harvest Mission South Sudan
Unfolding Word
New Life Computer Institute
Other		 Grants to
institutions
Associated
costs
2024 Total
2023 Total
£
£
£
£
1,377,002
53,962
1,430,964
1,232,873
21,637
980
22,617
47,894
34,560
1,565
36,125
33,784
30,258
1,370
31,628
30,244
428,135
19,387
447,522
332,450
92,711
4,198
96,909
23
159,514
6,976
166,490
164,210
32,178
1,457
33,635
-
86,847
950
87,797
-
20,649
935
21,584
81,852
146,849
8,780
155,629
77,770
2,430,340
100,560
2,530,900
2,001,100

Grants shown here relate to expenditure for supporting Bible translation programmes and partners and form part of the total expenditure on supporting programmes and partners shown in note 3. Funds sent to a single partner may include multiple translation programmes across a number of countries, and services such as technology development which serve large parts of global translation activity. These grants do not include support of members of other Wycliffe organisations.

7. Net income/(expenditure)

2024 2023
£ £
This is stated after charging/(crediting)
Auditors remuneration 15,300 14,232
Exchange rate losses/(gains) 23,655 26,982
Operating lease rentals 49,574 38,510

Page 36

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

8. Staff costs

Wages and salaries
Social security costs
Pension costs		 2024
2023
£
£
1,647,729
1,468,033
162,280
146,712
264,131
238,492
2,074,140
1,853,237

The average number of employees during the year was 49 (2023: 44).

The following number of employees received employee benefits (excluding employer pension costs) within the bands shown:

ands shown:
2024 2023
£60,000-£69,999 2 3
£70,000-£79,999 2 1

The remuneration for the year of the key management personnel, including employer’s NI and pension contributions, was £485,539 (2023: £424,084)

At the year end £20,374 (2023: £20,900) was payable to the pension scheme

Redundancy and termination payments are accounted for in the period in which notice was given. During the year such payments amounted to £46,440 (2023: £30,000).

9. Trustees remuneration and related party transactions

No member of the board of trustees received any remuneration during the year (2023: same). Four (2023: eight) trustees were reimbursed £1,447 (2023: £1,387) for travelling expenses on behalf of the charity, while £4,526 of travel and accommodation expenses were incurred directly (2023: £4,152).

Donations were received, both unrestricted and restricted, without any conditions attached, amounting to £116,125 (2023: £133,282) from six (2023: four) trustees and seven (2023: ten) other related parties during the year. There were no other related party transactions.

Page 37

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

10. Tangible fixed assets

Cost
At 1 October 2023
Additions
Eliminated on disposal
At 30 September 2024
Depreciation
At 1 October 2023
Charge for the year
Eliminated on disposal
At 30 September 2024
Net book value 1 October 2023
Net book value 30 September 2024		 Leasehold
improvement
Furniture and
equipment
Total
£
£
£
34,296
23,719
58,015
-
-
-
-
-
-
34,296
23,719
58,015
4,573
23,719
28,292
6,859
-
6,859
-
-
-
11,432
23,719
35,151
29,723
-
29,723
22,864
-
22,864

11. Fixed asset investments

At market value
At 1 October 2023
Additions at cost
Disposals at open market value
Gains (losses) in market value on revaluation
Realised gains (losses) on disposal
At 30 September 2024
At cost
At 1 October 2023
Additions
Disposals at cost
At 30 September 2024		 2024
2023
£
£
2,726,402
1,572,339
248,160
1,275,775
(182,067)
(245,375)
282,109
90,087
(9,556)
33,576
3,065,048
2,726,402
2,515,829
1,457,045
254,553
1,275,775
(220,104)
(216,991)
2,550,278
2,515,829

The portfolio is structured in investments including listed securities, in the furtherance of the charity’s objectives.

Page 38

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

12. Debtors
2024 2023
£ £
Prepayments and accrued income 538,842 97,411
Tax recoverable under Gift Aid 49,775 8,399
Other debtors 180,529 92,282
769,146 198,092
13. Creditors: amounts falling due within one year
2024 2023
£ £
Amounts due to members 96,170 101,093
Trade creditors 99,726 39,102
Taxation and social security costs 60,798 59,849
Other creditors 49,652 9,580
Accruals 41,649 43,287
347,995 252,911
14. Financial commitments
2024 2023
£ £
The charity had total commitments under non-cancellable operating leases as follows:
Property leases:
Not later than one year 28,720 28,720
Later than one year and not later five 9,078 36,313
years
37,798 65,033

Page 39

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

15. Unrestricted funds

General fund
Designated funds
Programme sustainability
Accelerating impact
Growth of ministry
Fixed assets
Total unrestricted funds		 At 1
October
2023
Incoming
resources
(including
unrealised
gains)
Resources
expended
Transfers
At 30
September
2024
£
£
£
£
£
1,590,430
3,198,795
(2,473,480)
(696,264)
1,619,481
1,247,912
-
-
8,952
1,256,864
2,865,674
-
(1,089,210)
687,312
2,463,776
889,130
-
(108,496)
-
780,634
29,723
-
(6,859)
-
22,864
5,032,439
-
(1,204,565)
696,264
4,524,138
6,622,869
3,198,795
(3,678,045)
-
6,143,619

The general fund represents the available unrestricted funds of the charity which are not designated for a particular purpose. All returns on investments including income net of management expenses and gains and losses are included in the general fund. The reserves policy is to maintain six months of operating expenditure in this fund.

The programme sustainability fund , in combination with the restricted funds held for programmes and partners below (£593k – Note 16), is held in order to cover the next 12 months of expected grants to international partners, manage cash flow during the year, and mitigate the risks of fundraising shortfalls or exchange rate fluctuations.

The accelerating impact fund is to allow us to make strategic investments in the capacity of our partners. The fund has been enhanced by the year’s surplus and we have plans to spend these funds through increased support of programmes and partners.

The growth of ministry fund is to allow us to make strategic investments in the charity in order to achieve our vision. During the year, it was used to invest in our marketing and fundraising functions.

Page 40

WYCLIFFE UK LTD

Notes to the Accounts for year ended 30 September 2024

16. Restricted funds

Members ministry support
Supplementary fund
Programme and partner funds
Other restricted funds		 At 1
October
2023
Incoming
resources
(including
unrealised
gains)
Resources
expended
Transfers
At 30
September
2024
£
£
£
£
£
-
5,251,251
(5,243,251)
-
8,000
95,525
40,441
(43,542)
-
92,424
570,604
1,429,417
(1,406,885)
-
593,136
23,959
20,963
(23,689)
-
21,233
690,088
6,742,072
(6,717,367)
-
714,793

The supplementary fund represents monies given to provide for the support of members whose income funds are temporarily insufficient.

The members ministry support funds are to provide support for members and members of other partner organisations within the Wycliffe Global Alliance.

The programme and partner funds are to provide support to specific projects administered by partners working overseas.

17. Analysis of net assets between funds

As at 30 September 2024
General fund
Designated funds
Restricted funds		 Tangible
fixed assets
Investments
Net current
assets
Total
£
£
£
£
-
-
1,619,481
1,619,481
22,864
3,065,048
1,436,226
4,524,138
-
-
714,793
714,793
22,864
3,065,048
3,770,500
6,858,412

18. Share capital

The company does not have a share capital and is limited by guarantee. At 30 September 2024 there were 251 (2023: 257) members with voting rights and these members undertake to contribute such amount, up to a maximum of £1 each, as may be required in the event of the winding-up of the company.

19. Subsidiary companies

The company had the following wholly owned dormant subsidiary companies, incorporated in England and Wales, during the year:

Summer Institute of Linguistics Ltd

Wycliffe Associates Ltd

Wycliffe Bible Translators Ltd

Page 41