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2025-09-30-accounts

ELIM FOURSQUARE GOSPEL ALLIANCE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025

PAGE
INDEX
Legal and administrative details 2 - 3
Report of the trustees 4 – 18
Report of the independent auditors 19 – 22
Accounting policies 23 – 26
Consolidated statement of financial activities 27
Statement of financial activities – Charity only 28
Consolidated balance sheet 29
Charity balance sheet 30
Consolidated cash flow statement 31
Notes to the financial statements 32 - 45

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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LEGAL AND ADMINISTRATIVE DETAILS

Charity registration

England and Wales 251549 Scotland SCO37754

Registered Office

De Walden Rd West Malvern Worcestershire WR14 4DF

Property Trustee

The Elim Trust Corporation

Directors of the Elim Trust Corporation

Rev M Pugh Rev H F Afflu Rev S Blount Rev D Clark Rev J J Glass Rev E Michael Rev M Ryan (Resigned 03/07/25)

Rev S Ball Rev D Campbell Rev D De Souza Rev A P Hudson Rev M A Nunn Rev K Wood K Devabalan

National Leadership Team and Trustees

Rev M Pugh Rev H F Afflu Rev S Blount Rev D Clark Rev J J Glass Rev E Michael Rev M Ryan (Resigned 03/07/25)

Rev S Ball Rev D Campbell Rev D De Souza Rev A P Hudson Rev M A Nunn Rev K Wood

Principal Officers

General Superintendent Rev M Pugh Director of Ministry Rev Stuart Blount International Missions Director Rev Martin Davison Irish Superintendent Rev Edwin Michael Principal, Regents Theological College Rev M A Nunn Evangelism Director Rev Mark Greenwood National Director of Youth Ministries Rev Tim Alford Executive Director Rev Olivia Amartey National Administrator Rev Sarah Bale Finance Director Kumar Devabalan

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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LEGAL AND ADMINISTRATIVE DETAILS

Bankers

Lloyds Bank Plc 130 High Street CHELTENHAM Gloucestershire GL50 1EW

RBS / National Westminster Bank Plc 31 Promenade CHELTENHAM Gloucestershire GL50 1LH

Solicitors

Anthony Collins Solicitors LLP 134 Edmund St Birmingham B3 2ES Bates Wells & Braithwaite 2-6 Cannon Street London EC4M 6YH

Auditors

Moore Kingston Smith LLP Chartered Accountants and Business Advisors 9 Appold Street London EC2A 2AP

Other advisers

Pension Fund Solicitors Pension Fund Pension Fund Actuary Maria C. Riccio Administrators Richard Smith Setfords Solicitors Spence & Partners Limited Spence & Partners Limited Jenner House Linen Loft 46 New Broad Street 1a Jenner Road 27-37 Adelaide Street London Guildford Belfast EC2M 1JH GU1 3PH BT2 8FE

Solicitors in Scotland Beveridge Philip & Ross Cunningham and Dickey 22 Bernard St 18 May Street Leith BELFAST EDINBURGH County Antrim EH6 6PS BT1 4NL

Solicitors in Northern Ireland

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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TRUSTEES REPORT

Key achievements and performance

It has been a productive year in many ways - particularly as our churches respond to a perceived new openness to spirituality in the nation. We are also encouraged by the progress we have made in helping our leaders understand and better steward the specific gifts and graces in their lives through our APEST (Apostolic, Prophetic, Evangelistic, Shepherding and Teaching) theme. This has provided a template that many of our leaders are now replicating in their local churches. We have also continued to strengthen our resources and systems over the year by appointing a more resourced Safeguarding team, deploying regional finance officers and launching a Ministerial Ethics and Conduct Board. We have also appointed a strong Incorporation Steering Group who are overseeing the process of moving towards an incorporated charity. We are encouraged by our progress and look forward to further building upon this in the years ahead.

Over the past year, our focus has been to ensure that governance processes move beyond aspiration and become embedded operational realities. Key developments included:

These developments are not about control, but about protection—for leaders, congregations, and the wider witness of the Movement.

Aspire, Elim’s national women’s ministry, has continued to experience strong growth, with several regional events moving to larger venues. Key gatherings—including the ROAR Conference, London Met East regional day, Overcomers event, and the ONE Conference—remain well established and continue to attract women from Elim churches and other denominations. MPower, Elim’s national men’s ministry, saw sustained engagement, expanded discipleship pathways, and increased collaboration. The annual MPower Band of Brothers gathering at EIC Malvern played a significant role in equipping leaders through worship, prophetic ministry, practical teaching, and real-life testimonies addressing issues such as mental health, business ethics, and healthy life balance.

This has been a strong year for Evangelism, marked by the embedding of our renewed vision through strengthened infrastructure, increased leadership capacity, and clearer communication. The leadership team expanded to draw on wider church experience, our annual evangelism conference moved to a larger venue with higher engagement, and two pilot initiatives—Elim Evangelism Teams and Real Stories—produced encouraging outcomes.

Regents Theological College welcomed students from diverse Christian backgrounds to study applied theology, ministry, leadership, and performing arts through degrees, ministry certificates, and online learning. Student numbers have continued their post COVID recovery, and we anticipate another strong intake. As one of Europe’s leading Pentecostal Bible colleges, Regents has equipped ministers, leaders, missionaries, and others for meaningful service for more than 100 years.

The Elim Global Network seeks to establish an Elim Global Pentecostal Church in every nation, supported by a three-tier leadership structure that strengthens strategy and mission. In May 2025, around 100 leaders gathered for the Global Conference. Elim Missions aims to engage and mobilise the whole Movement by creating pathways for people of all ages to encounter God through mission. We relaunched and trialled initiatives such as Missions Academy and Global God, and support from churches enabled us to respond to urgent needs through Elim Relief Appeals in the Middle East, Philippines, and Caribbean. We look ahead with faith, confident that God is powerfully at work through Elim Missions worldwide.

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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The focus of Elim Prayer this year was to strengthen prayer with and for the Movement. Guided by the core questions—How can we pray together? How can we resource the church? How can we encourage leaders? - the year was marked by collaboration, creativity, and a deepening desire for God’s presence. Our priorities for the year ahead include equipping churches with prayer-ministry resources, enabling regular opportunities to pray together, and encouraging leaders through monthly prayer videos and an Advent prayer project.

Elim Sound continued its calling to inspire, encourage, and equip worshippers across the Movement and beyond, with growth, collaboration, and a renewed commitment to serving the local church. The School of Worship remained central to this ministry, with 16 students from 15 churches completing the year-long programme through residentials, webinars, and one-to-one coaching.

Limitless, Elim’s youth and children’s ministry, experienced significant growth. Limitless Leaders gathered 242 leaders—our highest attendance to date. Limitless One brought together 2,725 young people across nine locations, with 127 responding to the gospel. Limitless Festival welcomed 6,232 attendees, with 639 responding to the gospel. Limitless Oxygen invested in 539 leaders from 105 churches through training events in eight locations. Limitless Pioneers continued supporting churches not yet reaching young people, helping 38 Elim churches start new youth ministries.

Future plans

We are progressing plans to implement Regional Hubs in the Metropolitan Regions. As a Movement, Elim is called to multiply, yet we recognise that further growth and development are needed to fully step into this vision. Over the past year, we have been exploring what this shift could look like in practice, and we are now preparing for a two-year trial in the Metropolitan Regions following ELS26, subject to the vote of Conference. Our hope is that this initiative will catalyse meaningful cultural and structural change across the Movement.

The Trustees of Elim made the decision last year to transition the organisation into an incorporated charity. A dedicated project team has now been appointed, and the Incorporation Steering Group is in place and has begun its work. The project remains in its early stages as we continue to explore the governance and legal structures required for incorporation.

Constitution and legal status

The constitution of the Elim Foursquare Gospel Alliance (“the Alliance”) was established by a Deed Poll registered on 10 April 1934, as amended by Deeds of Variation dated 14 January 1942, 12 September 2007, 25 May 2016 and a Deed disclosing the Irish Constitution in 1942. The Alliance is a registered charity in England and Wales (charity registration number 251549) and in Scotland (SCO37754).

Objectives and policies

The overall objective of the Alliance is the propagation of the Gospel of Jesus Christ. All activities reflected in these financial statements represent our continued dedication to fulfilling this purpose. To achieve this mission, the Alliance undertakes a broad range of missional and ministry-focused work.

As a movement, our four main strategic priorities at the core of our DNA are: Making Disciples

At the heart of everything we do is our shared mission to plant the gospel of Jesus Christ, in a relevant way, in individual lives and communities, making life-long disciples in the UK and nations across the globe. A disciple is more than just a church attender; disciples are prepared to submit their lives to the call and cause of Christ. Embedded in every sphere of society, they seek to live out their commitment in a real way within their communities.

Growing Churches

We are fully committed to our shared task of making the gospel of Jesus Christ known in individual lives and communities. We aim to facilitate the movement’s ever-increasing and effective planting of Elim churches across the nations.

Reaching Nations

Elim aims to be an international disciple-making movement with strategies for church planting and leadership development in the nations. We will do this through our continued focus on surrendering to the Spirit, sending and supporting missionaries, and the promotion of the Church in the UK and overseas.

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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Developing Leaders

We are committed to training, developing, and supporting leaders across the Elim movement and beyond, seeking to develop servant leaders who are committed to working on behalf of others and have a positive contribution to make in wider community life. We are thrilled when we see men and women serving God to their fullest potential, and individual growth is always in the stretch; it is rarely comfortable, but always retrospectively satisfying.

For more extensive details on our vision and performance relative to these objectives we would encourage you to access the Elim website using the following link https://www.elim.org.uk

Public Benefit

The Trustees have considered the Charity Commission’s guidance on public benefit and have reviewed the charity’s activities to ensure they continue to provide clear benefit to the public. In shaping and planning our work, the Trustees consistently ensure that all programmes and initiatives align with our primary charitable objective. We share with other Christian denominations a core belief in the Gospel of Jesus Christ and in the personal transformation that comes from believing in and following Him. Our churches and members are committed not only to proclaiming this message but also to demonstrating Christ’s love through practical action, compassion, and service within their neighbourhoods and wider communities.

Values

Consistently MISSIONAL -intentional, adaptable, focused on Elim’s four main strategic priorities Courageous INTEGRITY -honest, trustworthy, consistent, discreet “Doing the right thing, even when nobody is watching.” C.S. Lewis Courteous SERVICE -politely passionate, humble, generous Clear ACCOUNTABILITY -transparent stewardship, clear communication, excellent work ethic Creative TEAMWORK -innovative, ‘can do,’ collaborative

Branches, connected trusts and subsidiary companies The following entities are connected with Elim Foursquare Gospel Alliance:

Name Country of Relationship Address Activity
Incorporation
Elim Church England & Wales Common Elim International Centre Acts as an
Incorporated Directors De Walden Rd association of
West Malvern churches to
WR14 4DF promote the
Christian religion
Elim Trust England & Wales Common Elim International Centre Acts as a
Corporation Directors / De Walden Rd Property Trustee
Trustee West Malvern for Elim
WR14 4DF Foursquare
Gospel Alliance.
Elim Pentecostal Northern Ireland Common Elim Corporate Office Trustee for
Alliance Council Directors / 14 Charleston Avenue certain
Trustee Portadown properties in
N Ireland Northern Ireland
BT63 5ZF
EPC Services England & Wales Wholly Elim International Centre Carries out any
Limited owned De Walden Rd trading aspect of
subsidiary West Malvern the Alliance with
WR14 4DF the major activity
being the Elim
Leadership
Summit

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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A list of addresses and contacts for local churches is available from the Registered Office of the Alliance, or from the Charity website at www.elim.org.uk. This list includes details of churches associated through the Elim Church Incorporated (see above table).

Local churches are branches set up to conduct the business of the main charity in fulfilling its objectives.

Investments / management of resources

As the major demand for the Alliance is for property, the majority of resources are applied toward the acquisition and capital renovation programs on church buildings and manses for our ministers. Surplus funds across the charity will be invested internally via Elim Loans Administration towards these capital projects.

Reserves Policy

The Reserves as at the 30 September 2025 are detailed on the Balance Sheet on page 30.

The Alliance continues to hold general reserves, of which a significant proportion relates to funds applied in the provision of fixed assets, as an essential resource to the accommodation of local church activities.

The general free reserves are maintained in order to secure the future operations of the charity, in recognition of the fact that its income mainly comes from voluntary sources, but also that 30% of income is generated by Ancillary programs. Historically, the Charity has maintained remarkably stable voluntary income streams due to the consistent financial commitment demonstrated by church members and supporters. This financial reliability stems from the enduring dedication of our members, who have shown steadfast generosity in their giving patterns over time.

To maintain the basic level of current activities for a period between 3 and 6 months and fulfil annual obligations on liabilities our immediate target for free reserves will be a range of £18m to £36m. As at the financial year end general reserves was £32.1m (2024: £29.7m).

Payment Policy

Payment to suppliers is generally made within the terms agreed on confirmation of order for goods or services.

Funding

The Trustees are satisfied that the charity's assets are both available and adequate to fulfil obligations related to each individual fund. While our operational approach generally establishes self-funding activities, the Trustees maintain the authority to allocate finances from general unrestricted funds when deemed essential or beneficial to advancing our organizational objectives.

Communication and Involvement of Members

The Alliance remains committed to strong organisational communication by maintaining well - established channels with churches, ministers, and officers. This proactive approach ensures that all stakeholders receive information relevant to their responsibilities. The communication strategy places particular emphasis on delivering essential updates on financial matters, compliance, safeguarding, and statutory requirements that affect the Movement’s operations within the charitable sector. Direction Magazine continues to function as a key source of news for both members and the wider public. Our central website, www.elim.org.uk, is updated regularly and has become an essential platform for sharing practical advice and guidance.

The Conference Agenda includes the annual reports submitted by Alliance officers and departments, together with the Movement’s Financial Statements. It is distributed to all ministers and church lay representatives ahead of the Conference, ensuring that stakeholders receive the necessary information in advance. This proactive approach supports informed participation and meaningful discussion throughout the sessions. Conference members—either individually or on behalf of their church—may submit additional agenda items or comment on existing ones for consideration and discussion during the Conference.

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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All the central departments publish their own website, as do most of our churches throughout the UK. Elim Central maintains an online resource platform known as Elim Hub, which serves as a centralised repository for administrative guidance and information. This platform is specifically designed to support church leaders and officers in their operational responsibilities by providing comprehensive resources across a range of administrative areas, including taxation, Health and Safety compliance requirements, Gift Aid procedural guidelines, Insurance, etc.

Information on the Elim Hub is reviewed regularly and updated to ensure timely and accurate communication with churches. This systematic approach allows us to promptly notify churches of policy changes and compliance requirements. New Finance Officers receive onboarding through our flexible training program, available in both online and in-person formats. This dual-delivery approach accommodates diverse learning preferences while ensuring consistent quality and content. The training covers essential financial controls, compliance requirements, and organisation-specific procedures. Substantial portion of the information is available in downloadable PDF format, allowing users to retain important documentation for offline use

The General Superintendent provides regular communications on key issues to ministers, church elders, and members. In addition, annual administrative reviews are circulated to finance officers and church administrators to ensure ongoing clarity and consistency in organisational processes.

The Alliance has 10 Regions across the UK. Each region is supervised by a Regional Leader and supported by a co-ordinating committee made up of ministers and individuals from churches in that region. These regions have established their own local communications programs.

The activities of the Alliance would be impossible without the willing and generous participation of its members and friends. It would be impossible to number those involved, but research has shown that at least 30% of members will be directly involved in regularly sharing responsibilities in the activities of the Church. We would place on record our wholehearted appreciation for this ongoing support and look forward with our members to enjoying the fruit of their labours.

GOVERNANCE

Conference: The legislative body is the Conference, which meets at least annually and is comprised of a Representative and a Ministerial Session. The Representative Session consists of all ministers, and lay representatives appointed by the Churches. The Ministerial Session, which consists of ministers only, deals with all ministerial and pastoral subjects. All other matters, including the making of General Rules and Working Arrangements, are exclusively within the province of the Representative Session.

National Leadership Team : The members of the National Leadership Team (NLT) listed on page 2 are the Trustees of the Alliance and served throughout the year unless a termination of office or appointment date has been reported.

The NLT is appointed from among members of the Conference. The General Superintendent is nominated by the NLT of the day and submitted to Conference for a confirmatory vote. The individual so appointed serves for four years and is eligible for re-election. The General Superintendent nominates the members of the NLT on a rotational basis and these nominees are again subject to a confirmatory vote of the Conference, and successful candidates serve for four years. All the Ministers, and Lay Representatives from each Church, have votes in the election, which is conducted by postal ballot. The NLT meet at least five times per annum and are responsible for ensuring that procedures and working arrangements of the Constitution are applied in the activities of the Alliance and during administration of the affairs of the Alliance. On appointment any new trustee is required to undergo an induction program to ensure awareness of responsibilities and current issues and circumstances, including sessions with charity executives and officers. Each year trustees are provided with ongoing training including input on statutory and regulatory developments from professional advisors.

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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The Elim Trust Corporation : a company limited by guarantee, was legally constituted to serve as a trustee for the Alliance in matters of property and business. A few properties are still held in trust for the Alliance by local trustees under the terms of a Model Trust Deed, and a further few properties are held under the auspices of the Elim Pentecostal Alliance Council. Most of these properties have been transferred under the auspices of the Elim Trust Corporation, and the process will continue for the remainder. The members of the National Leadership Team listed on page 2 and the Finance Director are the directors and served throughout the year unless a termination of office or appointment date has been reported. The Executive Director serves as Company Secretary.

Officers and Committees are accountable to the NLT. They are appointed to ensure and assist with the smooth running of the charity.

Audit & Governance Committee (AGC): This committee operates under guidelines established by the Financial Reporting Council (FRC). Members are appointed by the National Leadership Team, to whom they will seek to provide guidance and assurance on processes relative to management of corporate risk and governance.

Finance Board: This Board consist of independent members (approved by NLT), General Superintendent, Executive Director, Finance Director, and Chair of Pension Board. The Finance Board meet at least four times a year. The responsibilities of the Finance Board are to provide direction to the NLT for fiscal responsibility by overseeing effective financial planning, financial control and financial reporting in addition to effective oversight of the financial and operational performance of EFGA and advise the Trustees on the financial health, potential threats, and financial opportunities regarding the Charity. The Finance Board (or representatives) may act as a sounding board and source of advice to the Executive Director and the Finance Director on major areas of change, innovation and development as part of their strategic responsibilities. The terms of the previous independent Board members concluded in May 2025, and new members have since been appointed to serve on the Board.

Property and Projects Board: This body is constituted by Conference and consists of four members of the National Leadership Team, the Executive Director, the Strategic Property Manager, the Finance Director and a minimum of three Lay appointments approved by the National Leadership Team. The Board is responsible for supervision and monitoring the management and application of charity’s property assets.

Regions: These are comprised of groups of churches. A Regional Leader supervises two regions, with the support in each of a Regional Co-ordinator and Regional Committee. The Committee consists of the Regional Co-ordinator, four co-optees and four members appointed from within the region.

Church Leadership Teams: Responsible for the administration and management of the local Churches, general purposes, finances and personnel. Capital projects and expenditure require the approval of the NLT / Management Board. Appointments to the Church Session and appointments of church officers are governed by the local Church Constitution.

Salary Committee : Salaries for the General Superintendent and Regional Leaders are reviewed and set by the Salary Committee, which currently consists of the independent members serving on the Finance Board. The NLT are responsible for managing the salary payments for executive officers and heads of national departments. The Salary Committee also participate in reviews and recommendations on remuneration level for those serving as ministers in Elim churches and the relevant pensionable salary scales.

Remuneration of Trustees and related Parties: No salary is paid for holding position as a member of the NLT and therefore ex officio as a trustee of the Alliance. Since qualification for appointment requires that candidates must be credentialed ministers and serving in full time roles, all the individuals will be in receipt of payment of remuneration solely related to that function and not as trustees. In line with SORP requirements we have included details of those payments in the schedule below.

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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Summary of Salaried roles held by Trustees

Summary of Salaried roles held by Trustees Summary of Salaried roles held by Trustees Summary of Salaried roles held by Trustees Summary of Salaried roles held by Trustees
2025 2025 2025 2024 2024 2024
Name Salary Employers Pension Salary Employers Pension Position salaried
NI NI
Chris Cartwright - - - 68,970 8,576 5,002 Served as General Superintendent till 16 May 2024.
Mark Pugh 96,607 12,908 6,600 34,215 4,199 2,694 Serves as General Superintendent from 16 May 2024, the
most senior full time position in Elim, and global leader of
the charity.
Stuart Blount 72,033 9,175 6,600 70,621 8,366 6,390 Serves as national Director of Ministry.
David Campbell 72,033 8,837 - 70,621 8,325 3,168 Serves as Regional Leader for the Metropolitan East and
West Regions.
Duncan Clark 65,280 - 6,600 63,300 6,390 Serves as Senior Minister of our church at Coventry.
James Glass 72,033 9,370 6,600 70,621 8,490 6,390 Serves as Regional Leader for Scotland, North West
England and North Midlands.
Edwin Michael 70,063 7,730 6,600 69,834 7,223 6,390 Serves as Superintendent of Elim Ireland.
Paul Hudson 72,033 9,370 6,600 70,621 8,490 6,390 Serves as Regional Leader for Midlands and North East
Regions.
Dominic De Souza - - - 52,068 - 5,456 Served as Senior Minister at City Church Cardiff till 31
August 2024. Itenerant Minister since 1 September 2024.
Steve Ball 72,033 9,370 6,600 70,621 8,490 6,390 Serves as Regional Leader for the Wales and Southern
and South West Regions.
Kojo Wood 55,000 - 6,114 55,000 - 5,928 Serves as Senior Minister of our church at Stevenage.
Harold Afflu 46,355 - 6,393 28,303 - 6,123 Served as Senior Minister of our church at Ipswhich till 23
November 2024. Serves as Senior minister at City Gates
Church (Ilford) from 23 November 2024.
Michelle Nunn 60,963 7,776 6,240 44,440 1,165 5,928 Served as Senior Minister of our church at Nantwich till 31
July 2024. Serves as Principal of Regents Theological
College from 1 August 2024.
Mark Ryan 60,180 7,663 6,600 85,315 1,722 6,390 Trustee till 3 July 2025. Served as Senior Minister of
Kensington Temple in London till 30 June 2024. Serves as
Church Growth Lead from 1 July 2024.
814,613 82,199 71,547 854,551 65,046 79,029
Totalper note 8 to the accounts 968,359 998,626
Trustee - related Parties 2025 2025 2025 2024 2024 2024
Name Salary Employers Pension Salary Employers Pension Position salaried
NI NI
Amanda Campbell 11,182 607 - 10,962 258 - Part-time role as leader of Lifelink within the Elim
International Missions department.
Caroline Wood 9,473 362 - 9,422 45 - Part-time administrative and support role at our church at
Stevenage.
Beryl Glass 13,682 - - 7,176 - - Serves as minister at Clydebank Church and administrative
and support role for Region.
Margaret Michael 6,990 144 - 7,108 - - Part-time administration in Elim Ireland office.
Catherine De Souza - - - 34,716 - - Served as Senior Leader at City Church Cardiff till 31
August 2024.
Florence Afflu 1,667 - - 10,000 - - Part-time administrative and support role at our church at
Ipswhich till 23 Nov 2024.
Total per note 8 to the accounts 44,107 79,384
Mark Pugh (General Superintendent, does not have any salary sacrifice arrangements or receive any non-taxable benefits. Taxable benefits paid to
General Superintendent in addition to what is listed above was private medical insurance of £1,178. The median of Regents College staff basic
remuneration was £25,658 and General Superintendent's basic remuneration was 3.8 times this.

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Disabled employees

The charity ensures that all applications for employment from disabled persons receive full and fair consideration, with appointments made on the basis of each applicant’s skills, aptitudes, and abilities. Should an existing employee become disabled, the charity is committed to making every reasonable effort to provide suitable retraining so that their employment may continue wherever possible. It is the charity’s policy to ensure that training, career development, and promotion opportunities are accessible to all employees, supporting an inclusive and equitable working environment.

Risk Management

The trustees recognise that the scope of our ministry and activity brings considerable responsibility and take seriously the need to ensure that the testimony of the Alliance is maintained at a high level. The executive officers together with the Audit and Governance Committee are commissioned to a perennial review of risk elements to ensure that the major risks have been identified and the relevant processes are in place to manage those risks as far as humanly possible.

Safeguarding:

The Elim Pentecostal Church is committed to safeguarding children and vulnerable adults. The Elim National Leadership Team recognises that protecting vulnerable individuals within our churches, ministries, activities, and the communities we serve—both in the UK and internationally—is of paramount importance and reflects the character and compassion of Jesus Christ. Elim requires each of its churches to adopt a safeguarding policy, carry out training and have good working procedures in place.

Executive Safeguarding Group has been established to provide executive oversight, governance, and assurance to the National Leadership Team on safeguarding across Elim. The Executive Safeguarding Group is established with delegated authority from the National Leadership Team to provide executive oversight, governance, and assurance to the National Leadership Team on safeguarding effectiveness across Elim Foursquare Gospel Alliance. The day-to-day provision of safeguarding support and oversight across the Movement will be delivered by the National Safeguarding Team, which is managed and led by the National Safeguarding Lead.

Financial Management:

We remain deeply mindful of the trust placed in us when church members and friends choose to support our work financially. It is vital that we safeguard this primary source of income, built on voluntary donations, by maintaining a strong case for support. Financial protocols and disciplines have been well established, and performance at all levels is a specific matter of verification during annual audit process. Discipline in process is critical in maintaining the high integrity levels which are foundational to encouraging the trust of our supporters.

Fraud - prevention videos supplied by our bankers have been made available to churches, and whenever banks alert us to specific fraud risks, we promptly share this information with - churches to support online safety and awareness. Additional fraud prevention guidance is accessible to churches on Elim Hub. Staff at EIC have received training in recognising and responding to potential fraud.

The management of the Central Funds is based on a comprehensive budget reviewed annually by the Finance Board and National Leadership Team and churches are required to operate on similar principles. Expenditure on major capital projects across the Alliance is approved by the Property and Projects Board. The Property and Projects Board decisions are strengthened by the appointment of Lay members who possess expertise in property management. The brief of the Board is to review and approve applications on Capital projects as to context, concept, and costs.

The Finance Board serves the Alliance and the National Leadership Team on financial strategy and operations. The Finance Board consist of individuals with extensive business experience and qualifications.

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Property Ownership

As Elim is a single entity charity it has exposure and responsibility across a wide spectrum of compliance requirements related to property ownership. Detailed policies with relevant operational guidance are provided on Elim Hub and reviewed by the Property and Projects Board. Property Handbook provides guidance on application for approval on major projects. Major property projects require approval from this Board, who consider implications on condition, structure, planning as well as finances. Health and Safety risk assessment policies and guidance is provided to all the churches and monitored and updated by the Strategic Property Manager. Elim has negotiated insurance cover which addresses all areas of liability and protection for its assets.

Data Protection

Elim has engaged a dedicated service provider to monitor and manage the processes for handling information across the wide spectrum of charity activity. Established practices and protocols are regularly reviewed to strengthen compliance with improved understanding of the evolving legislation. The Privacy Policy is published on our main central website.

We are also alert to the risk of cyber-attack on data held throughout the charity. Our central IT department monitors systems very closely and resources have been installed to defend against attack and protect the information held. Elim’s Data Protection Officer (DPO) advises on and supports churches with all data protection needs, whether they represent a church, ministry or any other Elim activity. This covers the UK General Data Protection Regulation (UK GDPR), Data Protection Act 2018 and all other related legislation, including the Privacy and Electronic Communication Regulations (PECR) which govern privacy rights in relation to electronic communications.

General

Alongside these major areas of sensitivity, which have potential subsequential financial risk Elim continues to monitor all operation protocols and processes. Seeking to ensure best practice across the many aspects of national and international ministry, we maintain a framework to receive and provide support including the following:

Grant Policy

No donations were made to political organisations. Grants to external bodies are only made to those organisations and activities which are compatible with our charitable objectives. Grants to individuals are in keeping with the parameters of the relevant fund and restricted to those participating in ministry within the Alliance activities, or to alleviate poverty or hardship circumstances.

Policy on funding of overseas activities

The Alliance maintains support for ministry and community projects overseas, both through its central Elim International Missions department and from local church resources. Many of the mission fields have now been developed and established with local indigenous government, operating under the statutory requirements of their national laws and regulations.

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The administration and application of the funds has therefore been placed in the hands of national leaders. Funding made available to other charities in respect of relief work etc is donated as restricted funds to the receiving charity. Such receiving charities are vetted by the International Missions Department and subject to approval by the National Leadership Team.

Payments can only be made to subsequently approved organisations and individuals, with all funds to third parties overseas being processed through the offices of the International Missions and subject to internal audit procedures. The International Missions Team requests regular reports and newsletters from missionaries and partner organisations to track progress and verify proper fund utilisation. Additionally, Missions Team conducts on-site visits to selected overseas projects, providing direct assessment of developments and reinforcing accountability in the stewardship of donated resources.

Subsidiaries

EPC Services Ltd exists to provide for the administration of central commercial activities. Elim Leadership Summit is the major operation under its governance.

Fundraising policy

The majority of our funds arise from voluntary donations received in the form of freewill church offerings including Gift aid donations. In recent years we have been very conscious of the growth of the “cashless society” and the “disappearing chequebook”. The provision of alternative donation pathways has become essential to ensure consistent financial support for the organisation. These alternative facilities encompass various mechanisms designed to accommodate different preferences and circumstances of our members and supporters.

We seek to provide access to viable alternative resources for local church and national ministries. These are mainly in the form of online digital options which enable direct donations via church websites and the app-based donor resource from GIVT.

Elim is a member of the Institute of Fundraising and registered with the Fundraising Regulator, receiving monthly reports relative to any complaints – no complaints were reported last year nor received at our central denominational offices in Malvern.

Legacy Elim is a low cost will-writing scheme promoted via local churches and administered as a confidential independent advice service to members by Frodsham solicitors.

13

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

FINANCE DIRECTOR’S REPORT - REVIEW OF THE YEAR

The year always seems to move quickly in the Finance Department. As we progress from monthly reporting to quarterly reviews and finally to annual accounts, we are reminded of God’s consistent faithfulness in guiding us through another year. The effective delivery of our financial responsibilities depends fundamentally on the commitment and support of the Finance Officers serving within our local churches. Many undertake these responsibilities in a voluntary capacity, and we recognise the significant personal commitment this represents. We express our sincere gratitude for their faithful service and pray that God will bless them.

Overall charity income for the year of £83.9m (2024: £79.0m) reflected an increase of 6.2% (£4.9m) on the previous year.

Total voluntary income increased by 6.5% to £57.8 million, compared with £54.3 million in 2024. General Gifts and Offerings rose by £1.2 million, representing a 6.0% increase on the prior year. Gift Aid donations, including associated tax recoveries, increased by £2.0 million, a 7.7% improvement relative to 2024. Specific gifts and offerings—primarily relating to donations specific for building projects—grew by £1.6 million in 2025. Income from legacies also increased, rising by £0.8 million during the year. This strong performance highlights the continued generosity and commitment of supporters to the organisation’s mission, even in the context of broader economic pressures.

Voluntary Income Voluntary Income Voluntary Income Voluntary Income Total
Total
2023
2024
£
£		 Total
Total
2023
2024
£
£		 Total
2025
£		 2025
General gifts and offerings
Gift Aid donations and tax rebate
Specific gifts and offerings
Legacies
Grants received
Other donations		 19,830,176
20,552,199
25,196,736
26,633,319
2,918,149
653,943
775,833
143,894
3,315,126
4,318,599
3,471,573
1,959,918		 21,785,365
28,697,022
2,214,524
946,474
3,866,950
297,869
Total 55,507,593
54,261,872		 57,808,205
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
50.00
55.00
60.00
£ Million
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
50.00
55.00
60.00
£ Million		 Voluntary Income 2019 to 2025 2025
2019
2020
2021
2022
2023
General Gifts
Gift Aid
Specific gifts
Legacies
Grants		 2024
Other

14

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

Total income from ancillary programmes increased by 5%, rising to £24.4 million, compared with £23.2 million in 2024. We experienced a similar level of growth between 2023 and 2024. The breakdown of income from ancillary programmes is displayed below:

Income from ancillary programs Total Total Total
2023 2024 2025
£ £ £
Hire of premises+ 3,947,080 3,977,699 3,874,305
Church Seminars etc 2,636,351 2,549,465 3,126,108
Ministry and Skills training 1,886,183 2,144,058 2,632,965
Coffee shops 601,045 674,924 701,222
Bookrooms 56,561 55,243 42,174
Charity shops 183,254 190,607 183,712
Foodbanks 413,064 578,061 418,665
Community Programs 1,317,803 1,663,503 1,609,837
Childcare programs 5,971,397 5,524,987 5,445,812
Nursing Homes 4,890,581 5,613,905 6,016,894
Other ancillary activities 125,476 273,538 385,161
Total **22,028,795 ** **23,245,991 ** 24,436,853

The table below shows the ancillary income generated from various activities in 2025. Nursing Homes (25%) and Childcare Programs (22%) continue to be the highest income contributors, followed by Hire of Premises (16%), Church Seminars (13%), and Ministry and Skills Training (11%). All other activities collectively generate the remaining 13% of total ancillary income.

15

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

Overall expenditure increased by £3.1m (4.1%) compared to 2024 expenditure of £76.3m.

Expenditures have increased across most categories. Personnel costs rose by £0.8m (2%), largely due to annual salary adjustments and the national insurance increase effective from April 2025. Premises costs increased by £1.8m, driven by maintenance and refurbishment projects as well as higher rental expenses. Energy costs also rose by £0.8m due to rising utility prices. In contrast, interest costs decreased by £0.5m as overall debt levels reduced, and UK ancillary and community program costs fell by £0.6m following the closure of two nurseries.

Expenditure Total Total
2025 2024
£ £
Personnel costs 37,844,173 37,088,224
UK Events and ministry programs 9,107,996 8,590,404
UK ancillary and community programs 3,980,442 4,590,970
Literature and material 250,060 244,164
Premises costs 11,115,499 9,364,740
Utilities costs 3,973,747 3,221,216
Equipment costs 3,180,626 3,026,788
Office and administration costs 1,538,549 1,430,868
Grants Made 4,410,000 4,384,711
Governance costs 1,948,033 1,815,501
Interest Costs 2,034,819 2,557,261
Total 79,383,944 76,314,846

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

Staff

The average number of employees in the year was 1,497 (2024: 1,688). We also confirm our deep gratitude to the thousands of individuals throughout the movement who volunteer and help deliver a wide range of services. Please see note 8 in the financial statements.

CONSOLIDATED BALANCE SHEET

The following balance sheet confirms the ongoing solidity of the Alliance but also the fact that we still have considerable liabilities on property loans and the pension fund which we must continue to address.

The overall Reserves of the Alliance have again improved, reflecting an incredible consistency of growth even through periods of general economic difficulties. The main strength of the Alliance resides in its Fixed Assets carrying value of £198.4m (2024: £198.4m).

The FRS 102 valuation for Pension Fund liabilities has decreased to £3.9m an improvement of £2.5m from the 2024 level of £6.4m. As we regularly comment, this value is calculated on parameters dictated by financial reporting standards. Our triennial actuarial valuation as at 31 December 2024 identified a funding shortfall of £5.8m, reflecting continued progress against the agreed recovery plan. The Technical Provisions deficit is expected to be eliminated by 28 February 2029.

Conclusion

Thank God for all who serve in our churches in so many roles, faithfully contributing to the work of God. We are blessed with ministers, staff, and volunteers who love the Lord and joyfully serve Him. Each year brings new challenges, yet God remains unfailingly faithful, guiding us through every season.

Now may the God of peace, who through the blood of the eternal covenant brought back from the dead our Lord Jesus, that great Shepherd of the sheep, equip you with everything good for doing his will, and may he work in us what is pleasing to him, through Jesus Christ, to whom be glory for ever and ever. Amen. (Hebrews 13:20-21)

17

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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Trustees' responsibilities for the financial statements

Trustees’ Responsibilities Statement

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

The Charities Act 2011 and the Charities and Trustee Investment (Scotland) Act 2005, and the regulations made thereunder, requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, which give a true and fair view of the state of affairs of the charity and the group and of the incoming resources and application of the resources, including the income and expenditure, of the charity and group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s and group’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the Trust Deed. The trustees are also responsible for safeguarding the assets of the charity and the group 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.

Auditors

Moore Kingston Smith LLP, having indicated willingness to continue as auditors, will be retained to serve as such for the new financial year.

Signed by order of the National Leadership Team

Rev Mark Pugh

30 April 2026

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ELIM FOURSQUARE GOSPEL ALLIANCE

Opinion

We have audited the financial statements of Elim Foursquare Gospel Alliance for the year ended 30 September 2025 which comprise the Consolidated Statement of Financial Activities, the Parent Charity only Statement of Financial Activities, the Consolidated Balance Sheet, the Parent Charity Balance Sheets, the Consolidated Cash Flow Statement, the Accounting Policies and the notes to the financial statements. 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 charity 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 charity’s ability to continue as a going concern for a period of at least twelve 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.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 or the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out above, the trustees 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 charity’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 charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under section 144 of the Charities Act 2011 and report in accordance with regulations made under those Acts.

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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

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.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charity.

Our approach was as follows:

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

management and those charged with governance and obtaining additional corroborative evidence as required.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011 and Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charity’s trustees 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 any party other than the charity and charity's trustees as a body, for our audit work, for this report, or for the opinion we have formed.

1 May 2026 Moore Kingston Smith LLP Statutory auditor 9 Appold Street London EC2A 2AP

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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ACCOUNTING POLICIES

BASIS OF PREPARATION

These financial statements have been prepared in accordance with the Constitution of the Alliance, applicable accounting standards, and recommendations in the Charities Act 2011 and the Statement of Recommended Practice: Accounting by Charities FRS102 (the SORP), the Financial Reporting Standard applicable in the UK and Republic of Ireland except as noted below.

They have been prepared under the historical cost convention as modified by the revaluation of investments to fair value, and on a going concern basis.

Elim Foursquare Gospel Alliance constitutes a public benefit entity as defined by FRS102.

BASIS OF CONSOLIDATION

The group financial statements consolidate those of the charity and its subsidiary undertakings drawn up to 30 September 2025. All intra-Alliance transactions and profits are eliminated on consolidation, unless indicative of an underlying impairment.

The results of the charity’s charitable trading income have been incorporated on the basis of the summary income and summary expenditure.

GOING CONCERN

The financial statements are prepared on a going concern basis, which assumes that the charity will continue as going concern for the foreseeable future. We benefit from dedicated members who believe deeply in our Movement and its mission, demonstrated through their continued financial support. Based on this, together with the increased cash reserves held, the Trustees have concluded there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

BRANCHES

The financial statements of the charity incorporate those of all funds and branches which are governed by the terms of the Constitution of the Alliance.

INCOMING RESOURCES

Donations and gifts

All monetary donations and gifts are included in full in the statement of financial activities when receivable and there are no donor-imposed restrictions as to the timing of the related expenditure.

Legacies are included when probable and the value can be measured with sufficient reliability.

Gifts-in-kind are accounted for at the trustees’ estimate of value to the charity or sale value as follows:

Voluntary help is not included as income.

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ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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Cash collected to which the charity is legally entitled but which has not been received at the year-end is included as income.

Donations under Gift Aid are credited as income when the donations are received together with the associated income tax recoverable.

All income on trading activities is the total amount receivable by the Alliance in the ordinary course of business for goods supplied and for services provided, excluding VAT. All income is recognised when the services are performed.

Contributions re Capital projects

Donations and gifts to major building renovation and refurbishment programs are included on receipt and treated as restricted funds until applied for their specific purpose.

Grants receivable

Revenue grants, including those from government and local authorities, are credited as incoming resources when they are receivable provided conditions for receipts have been complied with, unless they relate to a specified future period, in which case they are deferred.

Grants for the purchase of fixed assets are credited to restricted incoming resources when receivable. Depreciation on the fixed assets purchased with such grants is charged against the restricted fund.

Investment income

Investment income is recognised when receivable.

RESOURCES EXPENDED

Expenditure which is charged on an accruals basis is allocated between:

FUND ACCOUNTING

Restricted funds are applied for specified purposes laid down by the donor. The restriction on these funds is fulfilled on application to their specific purpose, and the expenditure for those purposes is charged to the fund. For Elim Relief Association 10% of income is allocated to the International Missions Fund in respect of overheads and support costs.

Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charity.

Designated funds are unrestricted funds which have been designated for specific purposes by the Trustees.

24

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets are stated at cost or valuation, net of depreciation. No depreciation is charged during the year of acquisition, or period of construction. Website development costs are written off as incurred to the Statement of Financial Activities and not capitalised due to there being insufficient evidence on which to base reasonable estimates of the economic benefits that will be generated in the period or into the future.

Depreciation is calculated to write down the cost or valuation, less estimated residual value, of all tangible fixed assets held for charity use other than freehold land, by equal annual instalments over their expected useful lives.

The periods generally applicable are:

Freehold properties 0.35% - 0.79% reducing balance from June 1999 on valuation, or on cost incurred from that date Leasehold properties Period of lease Fixtures, fittings and equipment 10 years

In accordance with FRS 102 assets in the course of construction are not depreciated. Depreciation will occur when assets in the course of construction are ready for use, being when the physical construction is complete.

INVESTMENT PROPERTY

Investments comprise those properties that are held solely for either their rental income and /or capital appreciation. They are carried at fair value. Any movement in fair value is recognised in the Statement of Financial Activities.

STOCKS

Stocks are stated at the lower of cost and net realisable value.

FOREIGN CURRENCIES

Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Exchange differences are dealt with in the statement of financial activities.

BORROWINGS

Bank borrowings are stated net of issue costs. All attributable issue costs are amortised over the term of the loan. Bank borrowings are secured by charges on certain properties of the Alliance as disclosed in note 15. The borrowings are included within long term loans except for the element that is due within 12 months which is separately disclosed on the face of the Balance Sheet.

CONTRIBUTIONS TO PENSION FUNDS Defined Benefit Scheme

Defined benefit schemes are funded, with the assets of the scheme held separately from those of the charity, in separate trustee administered funds. Under FRS102 valuation Pension scheme assets are measured at fair values and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. This is a proscriptive valuation process determined by the Pensions Regulator purely for Employer Balance Sheet purposes. The FRS 102 valuation pension deficit for 2025 is £3.9m (2024: £6.4m). Actuarial valuations for trustee management purposes are undertaken at least triennially; however, these results are not reflected in the Alliance’s Balance Sheet. The latest triennial actuarial valuation, covering the three years ended 31 December 2024, identified a funding shortfall of £5.8m, with the agreed recovery plan scheduled to eliminate the Technical Provisions deficit by February 2029.

25

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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FINANCIAL INSTRUMENTS

The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from banks and other third parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

JUDGEMENTS AND ESTIMATES

The key judgements and estimates made by the charity management relate to the following:

  1. Depreciation on property assets

  2. Assumptions for the Defined Benefit Pension scheme

  3. The recoverability of Debtors

  4. Revaluation of Investment assets

CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in hand and cash held on deposit with banks. Fixed-term deposits with maturities of less than three months from the date of placement are also classified as cash and cash equivalents.

26

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

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Consolidated Statement of Financial Activities

incorporating Income and Expenditure Account

note
INCOMING RESOURCES
Activities for generating income
Voluntary Income
1
Income generated by ancillary programs
2
Income from charitable activities
3
Investment income
4
Total incoming resources
RESOURCES EXPENDED
Costs of raising funds
6
Charitable Activities
6a
(Gain)/loss on sale of assets
5
Surplus of income over Expenditure
Gains/losses on investments
9a
Net incoming resources for the year
Actuarial Gain on Defined Benefit Scheme
22
Net movement in funds
Fund balances at 1 October 2024
Fund balances at 30 September 2025		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2025
2025
2025
2024
£
£
£
£
55,573,788
2,234,417
57,808,205
54,261,872
24,436,853
24,436,853
23,245,991
160,728
160,728
129,007
1,472,876
1,472,876
1,404,328
81,644,245
2,234,417
83,878,662
79,041,198
710,662
710,662
650,790
77,019,949
2,363,995
79,383,944
76,314,845
(5,886,562)
(5,886,562)
(860,593)
71,844,049
2,363,995
74,208,044
76,105,043
9,800,196
(129,578)
9,670,618
2,936,155
322,169
322,169
682,456
10,122,365
(129,578)
9,992,787
3,618,611
1,561,000
1,561,000
1,126,000
11,683,365
(129,578)
11,553,787
4,744,611
189,314,848
899,564
190,214,412
185,469,802
200,998,213
769,986
201,768,199
190,214,412

All of the activities of the charity are classed as continuing

27

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

Statement of Financial Activities - CHARITY ONLY incorporating Income and Expenditure Account

note
INCOMING RESOURCES
Activities for generating income
Voluntary Income
1
Income generated by ancillary programs
2
Income from charitable activities
3
Investment income
4
Total incoming resources
RESOURCES EXPENDED
Costs of raising funds
6
Charitable Activities
6a
(Gain)/loss on sale of assets
5
Surplus of income over Expenditure
Gains/losses on investments
9a
Net incoming resources for the year
Actuarial Gain on Defined Benefit Scheme
22
Net movement in funds
Fund balances at 1 October 2024
Fund balances at 30 September 2025		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2025
2025
2025
2024
£
£
£
£
55,573,788
2,234,417
57,808,205
54,261,872
23,977,090
23,977,090
22,875,743
160,728
160,728
129,007
1,472,876
1,472,876
1,404,328
81,184,482
2,234,417
83,418,899
78,670,950
710,662
710,662
650,790
76,585,107
2,363,995
78,949,102
75,938,098
(5,886,562)
(5,886,562)
(860,593)
71,409,207
2,363,995
73,773,202
75,728,296
9,775,275
(129,578)
9,645,697
2,942,654
322,169
322,169
682,456
10,097,444
(129,578)
9,967,866
3,625,110
1,561,000
1,561,000
1,126,000
11,658,444
(129,578)
11,528,866
4,751,110
189,268,059
899,564
190,167,623
185,416,513
200,926,503
769,986
201,696,489
190,167,623

All of the activities of the charity are classed as continuing

28

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2025

Note
Fixed Assets
Tangible fixed assets
9
Investments
9a
Long term loans advanced
12
Current Assets
Stocks
10
Debtors
11
Cash at bank and in hand
13
Current Liabilities
Creditors
14
Current portion on long term loans
15
Net current assets
Total assets less current liabilities
Long term loans received and other liabilities
15
Pension obligations
22
Reserves
General reserves
Designated funds
17
Restricted funds
16		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2025
2025
2025
2024
£
£
£
£
187,685,062
187,685,062
187,925,248
10,679,814
10,679,814
10,357,644
66,284
66,284
120,073
198,431,160
198,431,160
198,402,965
17,746
17,746
18,839
3,667,255
3,667,255
3,219,559
31,044,667
769,986
31,814,653
29,903,770
34,729,668
769,986
35,499,654
33,142,168
2,600,434
2,600,434
2,705,600
2,127,981
2,127,981
2,382,133
4,728,415
4,728,415
5,087,733
30,001,253
769,986
30,771,239
28,054,435
228,432,413
769,986
229,202,399
226,457,400
23,564,200
23,564,200
29,875,988
3,870,000
3,870,000
6,367,000
200,998,213
769,986
201,768,199
190,214,412
32,195,518
32,195,518
29,657,077
168,802,696
168,802,696
159,657,771
769,986
769,986
899,564
200,998,213
769,986
201,768,199
190,214,412

These financial statements were approved by the National Leadership Team and signed on its behalf by Rev Mark Pugh on 30 April 2026

The accounting policies on pages 23 to 26 and the notes on pages 32 to 45 form part of these financial statements.

29

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

CHARITY BALANCE SHEET AS AT 30 SEPTEMBER 2025

Note
Fixed Assets
Tangible fixed assets
9
Investments
9a
Long term loans advanced
12
Current Assets
Stocks
10
Debtors
11
Cash at bank and in hand
13
Current Liabilities
Creditors
14
Current portion on long term loans
15
Net current assets
Total assets less current liabilities
Long term loans received and other liabilities
15
Pension obligations
22
Reserves
General reserves
Designated funds
17
Restricted funds
16		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2025
2025
2025
2024
£
£
£
£
187,685,062
187,685,062
187,925,248
10,679,814
10,679,814
10,357,644
66,284
66,284
120,073
198,431,159
198,431,159
198,402,966
9,886
9,886
9,608
3,625,457
3,625,457
3,179,784
30,940,540
769,986
31,710,526
29,822,797
34,575,883
769,986
35,345,869
33,012,189
2,518,359
2,518,359
2,622,410
2,127,981
2,127,981
2,382,133
4,646,340
4,646,340
5,004,543
29,929,543
769,986
30,699,529
28,007,646
228,360,703
769,986
229,130,689
226,410,612
23,564,200
23,564,200
29,875,988
3,870,000
3,870,000
6,367,000
200,926,503
769,986
201,696,489
190,167,624
32,123,807
32,123,807
29,610,287
168,802,695
168,802,695
159,657,771
769,986
769,986
899,564
200,926,503
769,986
201,696,489
190,167,623

These financial statements were approved by the National Leadership Team and signed on its behalf by Rev Mark Pugh on 30 April 2026

The accounting policies on pages 23 to 26 and the notes on pages 32 to 45 form part of these financial statements.

30

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

CONSOLIDATED CASH FLOW STATEMENT

Surplus of income over expenditure
Adjustments for:
Depreciation
Investment income
Interest paid
Movement in stock
Movement in debtors
Movement in creditors
Non cash movement re Defined Benefit Pension Scheme
(Profit) / loss on disposal of fixed assets
Net cash from operating activities
Cash Flows from investing activities:
Purchase of Property, plant and equipment
Sale of Property, plant and equipment
Investment income
Repayment of loans advanced (Loans Advanced)
Cash flows from financing activities
Movement in loans
Interest paid
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		 2025
2024
9,670,618
2,936,155
1,757,626
1,769,936
(1,472,876)
(1,404,328)
2,034,819
2,557,261
1,094
134
(447,696)
1,574,833
(105,166)
548,024
(936,000)
171,000
(5,886,562)
(860,593)
4,615,856
7,292,422
(6,271,724)
(2,983,292)
10,640,845
1,627,234
1,472,876
1,404,328
53,789
143,552
5,895,786
191,822
(6,565,940)
(2,594,153)
(2,034,819)
(2,557,261)
(8,600,759)
(5,151,414)
1,910,883
2,332,830
29,903,770
27,570,940
31,814,653
29,903,770

Analysis of changes in net debt

Cash and cash equivalents
Cash at bank and in hand
Borrowings
Debt due within one year
Debt due after one year
Total		 1 October
Cash flows
30 September
2024
2025
29,903,770
1,910,883
31,814,653
29,903,770
1,910,883
31,814,653
2,382,133
(254,152)
2,127,981
29,875,988
(6,311,788)
23,564,200
32,258,121
(6,565,940)
25,692,181
(2,354,352)
8,476,824
6,122,472

31

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

1. Activities for generating income
1. Voluntary Income
General Gifts and Offerings
Gift Aid donations and tax rebate
Specific gifts and offerings
Legacies
Grants received
1a
Other donations		 Total
Total
2025
2024
£
£
21,785,365
20,552,199
28,697,022
26,633,319
2,214,524
653,943
946,474
143,894
3,866,950
4,318,599
297,869
1,959,918
57,808,205
54,261,872

Included with Voluntary income is £2,234,417 which relates to restricted funds (2024: £1,995,905).

1a. Grants received

Grants received from external sources during the year to 30 September 2025 and for the year to 30 September 2024, are included under voluntary income. We welcome and appreciate the support from the various grant makers and while the individual amounts are of considerable import to the relevant individual activity, the number involved renders it impracticable to list donors in detail. Branch reports contain more detail.

2. Income from ancillary programs
Hire of premises+
Church Seminars etc
Ministry and Skills training
Coffee shops
Bookrooms
Charity shops
Foodbanks
Community Programs
Childcare programs
Nursing Homes
Other ancillary activities		 Total
Total
2025
2024
3,874,305
3,977,699
3,126,108
2,549,465
2,632,965
2,144,058
701,222
674,924
42,174
55,243
183,712
190,607
418,665
578,061
1,609,837
1,663,503
5,445,812
5,524,987
6,016,894
5,613,905
385,161
273,538
24,436,853
23,245,991

A proportion of the income for childcare and community programs is derived from Local Authority support for payment of fees on behalf of beneficiaries. Included within the above is £459,763 which relates to the group's subsidiary company (2024: £370,248).

Ministry and Skills training includes tuition fees received for Regents college of £1,102,180 (2024: £831,626) of which £583,290 (2024: £409,602) was from Student Loans Company. Fees income for taught awards £985,916 (2024: £713,224), research awards nil (2024: £1,950) and non-qualifying courses £116,264 (2024: £116,452).

32

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

3. Income from charitable activities
Sundry Activities
4. Investment income
Income generated from investment assets
Interest Received
Total incoming resources
5. Gain / (loss) on sale of assets
Gain (loss) on sale of assets
6 Costs of raising funds
Promotion and publicity
Bank Charges		 Total
Total
2025
2024
160,728
129,007
160,728
129,007
Total
Total
2025
2024
554,607
534,116
918,269
870,212
1,472,876
1,404,328
83,878,662
79,041,198
Total
Total
2025
2024
5,886,562
860,593
5,886,562
860,593
Total
Total
2025
2024
329,925
279,218
380,737
371,573
710,662
650,790

33

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

Church Activity Evangelism Youth Missions Training Ancillary Total
2025 2025 2025 2025 2025 2025 2025
6a Summary by Costs
Personnel costs 8 26,593,316 120,240 1,095,280 297,085 1,102,314 8,635,938 37,844,173
UK Events and ministry programs 5,603,943 411,219 1,250,575 182,978 495,248 1,164,033 9,107,996
UK ancillary and community programs 1,455,394 1,667 17,131 211,484 2,294,766 3,980,442
Overseas ministry
Training and development
Literature and material 238,683 706 4,286 2,408 3,977 250,060
Premises costs 9,521,919 8,385 524 2,460 519,212 1,062,999 11,115,499
Utilities costs 3,615,801 2,791 355,155 3,973,747
Equipment costs 2,718,985 10,402 193,822 5,277 184,718 67,422 3,180,626
Office and administration costs 1,200,569 2,378 9,683 3,452 14,156 308,311 1,538,549
Grants Made 6d 2,357,523 53,017 32,776 1,755,451 17,135 194,098 4,410,000
Governance costs 7b 1,538,898 (59) 748 108,807 151,612 148,027 1,948,033
Interest Costs 1,992,814 190 11,392 6,077 5,256 19,090 2,034,819
56,837,845 608,145 2,616,217 2,363,995 2,707,903 14,249,839 79,383,944

Support costs amount to £3,124,740 and are split out by cost type in Note 7a below.

These cost have allocated to "Church Activity", as this is considered appropriate as this is the main activity of the charity.

Included in the above £434,842 which relates to the group's subsidiary company. Included in the above is £2,363,995 which relate to restricted funds.

34

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

6a Summary by Costs
Personnel costs
8
UK Events and ministry programs
UK ancillary and community programs
Overseas ministry
Training and development
Literature and material
Premises costs
Utilities costs
Equipment costs
Office and administration costs
Grants Made
6d
Governance costs
7b
Interest Costs		 Church Activity
Evangelism
Youth
Missions
Training
Ancillary
Total
2024
2024
2024
2024
2024
2024
2024
26,042,334
165,936
1,021,681
205,108
1,068,666
8,584,499
37,088,224
5,428,115
394,614
1,204,159
125,613
365,406
1,072,497
8,590,404
1,529,240
3,747
31,471
205,972
2,820,539
4,590,969
0
0
236,106
400
1,256
2,342
4,060
244,164
7,936,917
7,019
2,766
2,460
541,106
874,471
9,364,739
2,936,014
896
284,306
3,221,216
2,529,707
6,142
163,777
3,295
214,472
109,395
3,026,788
1,244,092
1,668
5,709
2,068
13,330
164,001
1,430,868
2,672,478
65,646
16,972
1,557,356
9,523
62,735
4,384,710
1,631,378
0
1,469
93,813
4,979
83,863
1,815,502
2,529,813
126
11,471
5,648
7
10,196
2,557,261
54,716,194
645,298
2,460,731
1,997,703
2,428,417
14,066,502
76,314,845

Support costs amount to £3,124,740 and are split out by cost type in Note 7a below.

These cost have allocated to "Church Activity", as this is considered appropriate as this is the main activity of the charity.

Included in the above £434,842 which relates to the group's subsidiary company. Included in the above is £2,363,995 which relate to restricted funds.

35

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

6c Expenditure re Ancillary Programs
Church Seminars etc
Ministry and Skills training
Coffee shops
Bookrooms
Foodbanks
Charity shops
Childcare programs
Community Programs
Nursing Homes
6d. Grants Made
6a
Individuals
Other ministries and institutions
Other charities		 Total
Total
2025
2024
399,933
204,919
117,201
107,434
564,919
623,058
31,769
36,608
783,158
747,761
127,660
111,339
6,064,657
6,391,743
1,344,240
1,358,811
4,816,300
4,484,829
14,249,839
14,066,502
Total
Total
2025
2024
1,019,056
979,573
2,984,394
2,751,407
406,551
653,730
4,410,000
4,384,710

Grants to other ministries and charities were mainly made by Churches. While specific details of each grant have not been collated it is known that over 100 churches made such payments. The trustees are satisfied that churches are adequately advised as to the parameters relative to the making of grants and that any misapplication would not have created any material misrepresentation in the financial statements.

7a. Support costs
Central and Regional Salaries
Central office premises
Central Equipment
Central administration costs
7b. Governance Costs
Principal auditor fee
Consultancy fees
Legal and advisory fees
Trustee and management committees		 Total
Total
2025
2024
2,294,871
2,057,607
199,447
219,838
283,503
261,244
346,919
280,830
3,124,740
2,819,519
138,600
132,000
2,082
27,198
1,793,469
1,640,898
13,882
15,406
1,948,033
1,815,502

36

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

8. EMPLOYEES
STAFF COSTS DURING THE YEAR WERE AS FOLLOWS:
Wages and salaries - ministry
Wages and salaries - administration
Agency Costs
Social security costs
Other pension costs
Private health insurance
Staff roles
Church and ministry staff
Youth Ministry
Administration
Care - Nursing and childcare
Community Programs
Property Services
£90,001 - £100,000
£80,001 - £90,000
£70,001 - £80,000
£60,001 - £70,000
£50,001 - £60,000
£40,001 - £50,000
£30,001 - £40,000
£20,001 - £30,000
£10,001 - £20,000
£1 - £10,000
Total
Trustees and Key Management Personnel
Remuneration re offices held
Trustees disbursement of expenses in fulfilment of duties		 Total
2025
30,331,055
5,318,085
30,892
934,354
1,148,946
80,841
37,844,173
Number
2025
570
106
282
225
188
126
1,497
Number
2025
1
2
7
10
26
91
198
265
414
483
1,497
2025
1,422,425
35,861		 Total
2024
29,125,814
4,667,367
25,620
884,629
2,301,660
83,134
37,088,224
Number
2024
737
115
317
211
163
145
1,688
Number
2024
1
9
5
21
59
187
266
481
659
1,688
2024
1,091,307
30,755

As required by the Constitution of the Alliance all members of the National Leadership Team (the Trustees) are serving ministers of the Alliance. During the year all members received remuneration commensurate with their ministerial or executive role. The total amount including pension contributions was £968,359 (2024: £998,625). A breakdown of this amount is included within the Trustees Report. Please read these in conjunction with this report.

Included in the disbursement of expenses above are payments to 13 trustees (2024: 14 trustees).

No other payment was made during the year to persons related to a trustee other than those due under contract of employment. In the period to September 2025 the number employed was 5 (2024: 6) with a total salary of £44,107 (2024: £79,384) . A breakdown of this amount is included within the Trustees Report. Please read this in conjunction with this report

37

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

9. Tangible Fixed Assets

Group
Cost as at 30 September 2024
Additions
Transfer to Investments
Disposals
Cost as at 30 SEPTEMBER 2025
Accumulated depreciation as at 30 September 2024
Charge in the year
Depreciation on disposals
Accumulated depreciation as at 30 September 2025
Net book value at 30 SEPTEMBER 2025
Net book value at 30 September 2024
9. Tangible Fixed Assets
Charity
Cost as at 30 September 2024
Additions
Transfer to Investments
Disposals
Cost as at 30 SEPTEMBER 2025
Accumulated depreciation as at 30 September 2024
Charge in the year
Depreciation on disposals
Accumulated depreciation as at 30 September 2025
Net book value at 30 SEPTEMBER 2025
Net book value at 30 September 2024		 Freehold
Assets in the
course
Fixtures,
property &
of
fittings &
leasehold
Construction
equipment
Total
improvements
2025
211,509,894
6,483,914
217,993,808
5,642,417
629,306
6,271,724
(8,093,978)
(3,915,230)
(12,009,208)
209,058,333
3,197,991
212,256,324
25,287,360
4,781,200
30,068,560
1,508,039
249,587
1,757,626
(3,339,695)
(3,915,230)
(7,254,924)
23,455,704
1,115,558
24,571,262
185,602,629
2,082,433
187,685,062
186,222,534
1,702,714
187,925,248
Freehold
Assets in the
course
Fixtures,
property &
of
fittings &
leasehold
Construction
equipment
Total
improvements
2025
211,509,894
6,483,914
217,993,808
5,642,417
629,306
6,271,724
(8,093,978)
(3,915,230)
(12,009,208)
209,058,333
3,197,991
212,256,324
25,287,360
4,781,200
30,068,560
1,508,039
249,587
1,757,626
(3,339,695)
(3,915,230)
(7,254,924)
23,455,704
1,115,558
24,571,262
185,602,629
2,082,433
187,685,062
186,222,534
1,702,714
187,925,248

On 31 October 1998, the freehold property in England, Scotland, Wales and the Channel Islands was revalued by Messrs GVA Grimley (RICS). The basis of the valuation used was depreciated replacement cost for the specialised properties, existing use value assuming vacant possession for nonspecialised properties and open market value assuming vacant possession for properties, which are surplus to requirements. This valuation was included in the 1998 financial statements and the surplus arising transferred to the general reserve. Subsequently the 1998 valuation has been treated as the deemed cost for the relevant properties.

38

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

9a Investments

9a Investments
Value at 30 September 2024
Revaluation in year
Value as at 30 September 2025		 Investment
property
10,357,644
322,169
10,679,814

5 properties were identified as being held solely for income generation and capital appreciation so were transferred from Tangible Fixed Assets in previous years. The valuation is reviewed annually to establish fair value at the balance sheet date.

10. STOCKS Total Total
2025 2024
Group
Goods for resale 9,047 8,142
Office stock 8,699 10,697
17,746 18,839
Goods for resale are held by local church bookroomsand EPC Services Shop `
`
Charity
Goods for resale 9,047 8,142
Office stock 839 1,466
9,886 9,608
Goods for resale are held by local church bookrooms
11. DEBTORS Total Total
2025 2024
Group
Trade Debtors 850,066 573,795
Prepayments
Other debtors 2,817,188 2,645,764
3,667,255 3,219,559
Charity
Trade Debtors 850,066 573,795
Intercompany
Other debtors 2,775,390 2,605,989
3,625,457 3,179,784

39

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

12. LONG TERM LOANS ADVANCED
Group and Charity
Advances to individuals
a
Sundry advances less provisions		 Total
Total
2025
2024
66,284
120,073
66,284
120,073

a. Includes advances to one officer of the Alliance secured against assets and repayable by date of sale £6,124 (2024: £8,776) No individual loan exceeds £30,000. No new loans were given in the year to any officers of the Alliance.

13. CASH AT BANK AND IN HAND
Group
Net balance held in local church accounts
Central Funds		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2025
2025
2025
2024
19,568,083
19,568,083
20,608,788
11,476,584
769,986
12,246,570.1
9,294,982
31,044,667
769,986
31,814,653
29,903,770

Central funds balance includes £80,973 (2024: £90,619) which relates to groups subsidiary company.

14. CREDITORS
Group
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Charity
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 Total
Total
2025
2024
972,745
1,419,138
99,441
86,231
142,937
130,078
1,385,311
1,070,153
2,600,434
2,705,600
Total
Total
2025
2024
962,770
1,413,599
99,440
86,195
142,937
130,078
1,313,212
992,538
2,518,359
2,622,410

40

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

15. LONG TERM LOANS RECEIVED
Unsecured liabilities:-
Amounts due to other trusts
Amounts due to individuals
Amounts repayable within one year
Secured liabilities:-
Bank loans (b)
Bank loan portion payable within one year
Individual loan portion payable within one year
Total Long Term Loans
Bank loan projected repayments
Within one year
After one and within two years
After two and within five years
After five years		 Total
Total
2025
2024
162,642
169,475
357,346
542,873
(217,346)
(402,873)
302,642
309,475
25,172,193
31,545,773
(1,910,635)
(1,979,260)
23,564,200
29,875,988
1,910,635
1,979,260
327,333
1,979,255
200,000
2,700,000
22,734,225
24,887,258
25,172,193
31,545,773

Bank loans are secured by charges on certain properties of the Alliance.

£22.25m is provided by Lloyds as a Fixed Rate loan due to be repaid in 2043.

The balance of the bank facilities is provided at LIBOR related rates by Lloyds and RBS and is being repaid over an agreed 15 year term by 2031.

16. MOVEMENT ON RESTRICTED FUNDS
Group and charity
At 1 October 2024
Incoming resources
Expenditure
At 30 SEPTEMBER 2025		 CHURCH
ELIM RELIEF
2025 TOTAL
2024 TOTAL
RESTRICTED
ASSOC.
RESTRICTED
RESTRICTED
FUNDS
FUND
FUNDS
FUNDS
£
£
808,453
92,909
899,564
901,362
2,003,831
230,586
2,234,417
1,995,905
(2,059,691)
(304,304)
(2,363,995)
(1,997,703)
752,593
19,191
769,986
899,564

Churches hold various funds as a result of specific donations, which are awaiting the relevant allocation, The major portion of these funds are church building funds.

Elim Relief Association is a fund from which to provide relief overseas through humanitarian and development programs.

41

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

17. MOVEMENT ON DESIGNATED FUNDS
The Group
At 1 October 2024
Incoming resources
Expenditure
Transfers
At 30 SEPTEMBER 2025
The charity
At 1 October 2024
Incoming resources
Expenditure
Transfers
At 30 SEPTEMBER 2025		 CAPITAL DEFINED BENEFIT
2025 TOTAL
2024 TOTAL
ASSETS
PENSION
DESIGNATED
DESIGNATED
FUND
OBLIGATION
FUNDS
FUNDS
166,024,771
(6,367,000)
159,657,771
154,979,448
6,647,924
2,497,000
9,144,924
4,678,323
172,672,695
(3,870,000)
168,802,695
159,657,771
CAPITAL DEFINED BENEFIT
2025 TOTAL
2024 TOTAL
ASSETS
PENSION
DESIGNATED
DESIGNATED
FUND
OBLIGATION
FUNDS
FUNDS
166,024,771
(6,367,000)
159,657,771
154,979,448
6,647,923
2,497,000
9,144,923
4,678,323
172,672,694
(3,870,000)
168,802,694
159,657,771

Local Church leaderships have invested monies from unrestricted funds for various specific purposes particularly building projects Capital Assets funds represents the accumulation of contributions applied to the acquisition of property used in pursuit of our charity objectives.

Defined benefit pension obligation is the deficit between a defined benefit pension scheme's assets and the present value of its liabilities, which the employer must recognise as a balance sheet liability in accordance with UK pensions legislation.

18. Allocation of Assets by Fund

18.1 Group
Fixed Assets
Investments
Loan Advances
Current Assets
Current Liabilities
Long term Liabilities
Pension obligation
18.2 Charity
Fixed Assets
Investments
Loan Advances
Current Assets
Current Laibilities
Long term Liabilities
Pension obligation		 General
Designated
Restricted
Total
187,685,062
187,685,062
10,679,814
10,679,814
66,284
66,284
34,729,668
769,986
35,499,654
(2,600,434)
(2,127,981)
(4,728,415)
(23,564,200)
(23,564,200)
(3,870,000)
(3,870,000)
32,195,518
168,802,696
769,986
201,768,199
General
Designated
Restricted
Total
187,685,062
187,685,062
10,679,814
10,679,814
66,284
66,284
34,575,883
769,986
35,345,869
(2,518,359)
(2,127,981)
(4,646,340)
(23,564,200)
(23,564,200)
(3,870,000)
(3,870,000)
32,123,808
168,802,695
769,986
201,696,489

42

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

19. CONTINGENT LIABILITIES

There are no contingent liabilities (2024 : £nil)

20. CAPITAL COMMITMENTS

As at 30 September 2025, the Alliance has no significant capital commitments outside of the minor church building projects already under contract.

21. OPERATING LEASES

At the year end the charity had commitments under non-cancellable operating leases expiring as below.

Group
Not later than 1 year
Later than 1 year but not later than 5 years
Charity only
Not later than 1 year
Later than 1 year but not later than 5 years		 2025
2024
£000s
£000s
Office Equipment
Office Equipment
155
180
226
273
382
453
2025
2024
£000s
£000s
Office Equipment
Office Equipment
155
180
226
273
382
453

22. PENSIONS

The charity operates a defined benefit occupational pension scheme, the Elim Ministers' Pension Fund, to provide retirement benefits for its current and previous ministers and employees.

A full actuarial valuation was carried out as at 31 December 2024 and indicates a pension shortfall of £5.8m, reflecting continued progress against the agreed recovery plan. The Technical Provisions deficit is expected to be eliminated by 28 February 2029.

The total employer contributions during the year to 30 September 2025 amounted to £1,972,000 (2024: £1,921,000).

Contributions to the scheme for the year ending 30 September 2026 are expected to be £2.0 million. The scheme is funded by payment of contributions from the Alliance to a trustee administered fund (members are not required to contribute).

Benefits were built up in the scheme during the year on a 'final pensionable salary' basis, whereby the associated benefits are calculated with reference to a member's Final Pensionable Salary at the time they leave service or retire.

Employee benefit obligations
Present value of benefit obligation
Fair value of scheme assets
Net Pension Liability		 Value at
Value at
2025
2024
£000s
£000s
£
£
45,045
46,261
(41,175)
(39,894)
3,870
6,367

43

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

The amounts recognised in the statement of financial activities are as follows:

2025 2024
£000s £000s
Current service cost 753 1,704
Net Interest cost on the net defined benefit liability 284 388
Total 1,037 2,092
Remeasurements of the net defined benefit liability recognised in Other gains and losses
2025 2024
£000s £000s
Actual return on assets excluding interest income 187 2,253
Actuarial (losses) / gains 1,374 (1,127)
1,561 1,126
Changes in present value of benefit obligation 2025 2024
£000s £000s
Opening defined benefit obligation 46,261 43,850
Current service cost 753 1,704
Interest cost 2,227 2,331
Actuarial loss / (gain) (1,374) 1,127
Benefits paid (2,822) (2,751)
Closing defined benefit obligation 45,045 46,261
Change in fair value of scheme assests 2025 2024
£000s £000s
Opening fair value of scheme assets 39,894 36,528
Interest income 1,944 1,943
Return on assets excluding interest income 187 2,253
Employer contributions 1,972 1,921
Benefits paid (2,822) (2,751)
Closing fair value of scheme assets 41,175 39,894
The assets of the scheme were: 2025 2024
LDI 16.9% 19.2%
UK Equities 0.8% 0.7%
Overseas equities 42.5% 37.6%
Gilts 1.2% 1.1%
Corporate bonds 0.8% 0.9%
Overseas bonds 0.8% 0.9%
Property 27.6% 25.5%
Cash/ other 9.4% 14.1%
100% 100%

44

ELIM FOURSQUARE GOSPEL ALLIANCE FINANCIAL STATEMENTS YEAR ENDED 30 September 2025

_______________

NOTES TO THE FINANCIAL STATEMENTS

Principal Actuarial assumptions 2025 2024
Discount rate 5.70% 4.92%
Inflation assumption (RPI) 3.00% 3.23%
Inflation assumption (CPI) 2.00% 2.23%
Future salary increases 2.00%
for first 9 years post September 2024 0.00%
thereafter 2.35%
Deferred pension revaluation 2.00% 2.23%
Benefits accrued pre 6 April 1997 0.00% 0.00%
Benefits accrued April 1997 to 6 April 2005 2.10% 2.28%
Benefits accrued post 6 April 2005 1.59% 1.69%

Assumed life expectancies on retirement at age 65 are:

Male Mortality 100% of ONS National Life tables 2021-23
Females Mortality 100% of ONS National Life tables 2021-23
Mortality improvements CMI 2024 long term improvement of 1.0% using core parameters
Cash Commutation 75% (2024: 80%) members take maximum amount available
Expenses Nil

Historical disclosures

Historical disclosures
Defined benefit obligation
Scheme assets
Deficit		 2025
2024
2023
£
£
£
(45,045)
(46,261)
(43,850)
41,175
39,894
36,528
(3,870)
(6,367)
(7,322)

45