Company regi51rati¢Jn numberiTh)945991 IEnBland and Wale51 arity lstratIOn number 258253 IEnEland and Wale51 SLAVIC GOSPEL ASSOCIATION (BRITISH SEcfioN) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED LEGAL AND ADMINisfRATIVE INFORMATION Tyustees Dr F A levins MTSRWest Rev R W Trainer RÈVJ A Knox MrCJKSrnith Mr D F Harvey Rev P J Kinnaird (Appointed 2 June 20251 Chrlty number 258253 Company number IXIy5991 Reglstered offlce 22 Little Church Street Rugbv Warwicshire England CV213AW Audttor Jarnes Todd & Co Limited Drayton House Drayton La ChKhester West Sussex Engl8r P020 2EW Bankèrs Barclay5 Bank PLC North Street Rugbv Warwickshlre CV212AH Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED CONTENTS Page TrustÈes' report Independent auditor'5 port 9-11 statement of financial acttvittes 12 Balance sheet 13 Stèternent of cash flows 14 Notes to the flnancial 5tatemehts 15-30 Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORn FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their annual rewrt and financial staiements for the yearended 31 December 2025. The flnancial statements have been prepared in accordance with the accounong policies set out in note I to the flnantial statements and compw with the tharity's governing document, the Companies Att 2(X)6 and "Accounting and RÈporknng by CharleS." Statement of Recommended Prathce applicable to charities preparing their accounts In accordance with the Financial Reporring Stsndard applicable In the UK ènd Republic ol Ireland IFRS 1021. leffecrive l January 20191. Objectives and artivitie5 The objects of SGA are to assist the Church in CentTrl and Eastern EuroFe. Central Asia. Far East Russia and Mon8olia to becoyne fully equipped to fullil the Great Commission of Jesus Chnst. particularly amon8 Its own pecples by trainin8 workers, sponsorin8 leader5J providin8 Christian lrterature and distributrng aid. The rnean5 adopted to accornpli5h the objecbve5 of the charity are Summed up in the purpose 5tatement- To serve Christ and Hi5 Church. The charlty believes that the most effethve way for the Mission to achieve its objethves is to fhd tynd support10¢41 churches and indlviduals who have the vision to make Jesus and the love of God known through their words and )ttlons. Therefore, the charity makes grants, provides leachin& traini gifts in kn'nd and other resources to ¢hurthes. irnllviduals. and or88n4on$ throuÉh thelr four core ministries.. 111 Blbllcal Leadershlp Tralrln8 lTralnln8 Workers1 which prepares the indigenous church for Chrisfjan servlce through our Mlssion Schools. Over the years, leadership training, theological studies, ènd other eéucationèl training have been offered to students in Poland, Slovakia, Hungary. Serbia, Bulgaria. Romania, Moldova. Vralne. and Central Asia. Gifted ChrIsan workers recommended by the local churches are gwen the opportunity to undertake a course of study to equip them for a Ilfetime of Chr15ttan servSce whkh brlngs maximum benefits to the publlc. Students In Balti Mlssion School. Moldova, aThJ Almaty Bible Institute. Kazakhstsn receive grant5 to help cover the costs Involved. In addidon, Resources lor Ministry. forrnerl¥ krthvn as the IndeFendent Corresp)ndence Bible School in Central Asla, provlde5 Chri5ttan education throu8h extension learnin& 121 Leadership Support ISupportln8 Ltadenl in¢ludes providin8 fvnds for pioneerin8 Gts5pel workers, evanÈellsts, church planters and rnissionary p4stor5. This olfer5 practical and financial 355iStance to Christian workers who cannot be 5UPPOrted in- country. If thi5 SUPPOrt were not available some would be require(I to leave their Christian rninistry for work opportunities elsewhere. Also, supporbng other church project5 that include rnaking grant5 toward5 the purchase or building of public places of worship and providing transwrtation for evangelists and pastots. is helping to advance the Gospd. 131 Chrisan Liierature IPublishing LiteV] provides resources such a$ Bibles and other lfterature in countries that have limited Biblical resources. 8ible Commentaries plus other resources provide helpful informafjon in understanding Biblical 141 Crlsls Response 101str1buThZ Aldl provides vla1 support through poverty relief. medical assistsnce. food aid. emergency aid, 8nd disaster relief programmes. These efforts are designed to meet urgent needs and serve communittes In ttmes of crlsls. This support also enables our partners to demOnrate God's lo%* in practical and meaningful ways. Through this mlnistry, those who are poor and in need-including ihe vulnerable. forsaken. forgotten, and neglerted receive essential care and assistance. lrnpoverished communities are provided with the nece55ities for Survival, along with ac55 to medr31 care at crthcal moments. The irnpact of this work is significant. delivering widespread and lastinE public benefit tothose who need it most. Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 strategleslor a£hlevlng alms and oblectl¥es Grant rnaking policv Grant making is always in response to request5 from church leaders in Ea5terTh Europe, Central Asia, Far East Russia and Mongolia. or a need observed by staff while on Field trips_ Grants are onty made to known partners and those recommended by long 5tsnding and trusted source5. Tru5tee5 have delegated responsibility for grant making from funds to the General Director for grants up to £IO.000 from General Funds and £20,0 from Desi¥nated Funds. Amounts in exce55 of thi5 must be approved bythe Board of Director5. We re¢ognise the need to take steps to prevent the use of grants foT money launderin& ierrtsrist aciivity, bribery and purw)ses other than those for whith they wÈrÈ given. To this end, Tnjstees hold SGA'S partners atcountable for the funds, rèsourtès, aid or tralning they have reteived and require them to pfodute regular reports of their attiVie$ and use of funding. In addltion, SGA staff mÈmbers vlsit partners who receive funding or other help from SGA. All our partners understand that the 8rants, tralnln& or gifts In klnd are to be used lor the benèfit of the communlty they serve and are to be freely avallable to all sertlons of the community. Achlevements and porforman¢t Tralnlni Workers Teaching continue5 across SGA-5UPPOrted mi55ion SCI15 and Bible Institute5 throughout Central Eastern Europe, as well a5 Central and Northern Asia. Schools in 6ul8aria, Poland. and Moldova are currently experiencing stron8 enrolment, with healthy student 8roup5. In Rornania, the Practical School of Theolo8y in Oradea offer5 course5 that coffjplernent the pro8rarnff at Emanuel Chr15tian Unlver51tVi which a150 receives rtta1 5UPPOrt from SGA. Despite the ongoing conflict, Odessa Theologic¥l Seminary in Vkraifie. financialty supported by 5GA confjnues to provide courses at all levels of theologital edu¢atlon. In Asia, trainin8 efforts a making steady pro&$$. A major encouragement comes from Almaty Bible Insfjtuie, which has welcomed its largest-ever intske this academic year, wirh 110 Siudents enrolled. Partnerships with the Western Siberian Bible College in Omsk, Russia. and the Preachers, School In Mongolia are also developlng steadily, contributtn8 to the ongoing growth ol ministry rraining in the regn. Suppordn8 Leaders This project provides financlal assistsnce to mlsslonary famllies. supports the estsbllshment ol House5 of Prayer, and helps meet transportation needs. There are approximately 2LN) SGA-supported missionary pastors and students serving across Central and Eastern Europe, a5 well as Central and Northern Asia. Ower the past ar. twenty-rhree new missionary families have been added to the support programme. The Board of Director5 is committed to maintainin8 SUPkKIrt for our current number of national Gospel workers and 5U5tainin8 all ongoing field projects at their present level. Church BuildinBS- Funds were allocated for the purchase and recon5tTUCtion of Houses of Prayer in Moldova, Romania, and Armeni3. Additionally, a loan w45 provided to a church in Poland to SUPtK)rt the refvrbi5hrnent of its building. Tran$portation Mi55ionarie5 in North madola. Ukrairbe. arKI Tajikistan receNed 51JPPOrt for vehicle repairs and replacetnents, while two vehicles were provided in Kazakh5tsn. Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Publishing Literature SGA continues to focus its literature efforts on Bible projects in several languages. Funding was provided for Bible publications In Kyreyzstan, and alongside our partners. Bibles We also distributed in Ukraine. DurinE 2025, several Bible projects were supported in Arnienia. including Family Bible5, New Testsment5, and Russianl Armenian bilingual editions. Funding for the Nenets Bible translation project is ongoing. while the North M3cedonian New Testament has now been Completed. Books were also published in Slova Regular 5UPPOrt Wa5 provided for in%ountrywriter5 in Macedonia and Rornania. Dl#rlbutln8 Ald Wldows, Prolect.. This projed ConnueS to expand. pfoviding essentfal funding for viial svpplies su¢h as heafjn& medical care. food, and clothing across Centrnl and Eastern Europe. as well as Central Asia. Hope Centres: Hope Centres offer food ènd shelter to homeless children and other vulnerable Indfvlduals. Durlng the year, the ConstrucOn of these lacilines was supported in Uzbekistan, Kyrwstan. and Armenia. SGA has also COnnUed Its slgnthcani ftnanclèl support throughout 202S for the Christlan humanltarlan organSzatton Bread of Llfe In Serbla, deliverlng meanlngful public nefi"l io all ihose who have recelved asslstance. Ukralne Durlng 2025, the Mission's cornmitment to Suprn8 the most vulnerable has en clearly demon5tr*ed through a number ol important initiatives. Funding Wa5 provlded to supply fresh bottled water to sthtral village Communie$, eTh5urin8 access to safe drlnking water In areas of urgent need. Hundreds of widows and children, Intludin8 many whts hove lost lo¥ed ones due to the wJr, h•¥e received prnctical and spiritu81 support through local churthe$. The Medical Evangelism Ministry in Ukraine has been offeriNK fe health checks. with 5GA fundin& ¢overin8 the cost of essenfjal medi¢atlons. Followin8 consultètion with Ukrainian church leade. it has been agreed that funds should be allocated to meet both ongoing and future needs. It is evident that Sl8nificant financial sOurceS will qUId when the war ts)mes to an end. Prlorltyfunding areas Conttnued relief for refugees Carlng for wldows ènd famllSes Post-trauma treatmeni Grace Shelter & Transitton House Rebuilding Houses of prayer Printing of Bible Sets Resettling SGA'S ministry partners Replacing vehicles £140,( £40,iNXS £20,{$ £is,( £70,1X• £50,OCN) £70,OC £40.IJXI Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Phoebe Projects The following ministries received funding. Ministry in Central Asia received lundin8 for a sheher for Vulnerable mothers and children and sp)nsorship for a missionary to Muslirn wornen. Two rni55ionarie5 who evarylize children are supported Marina Tapcova IRu55ial and Bohu51ava Havrilova Emanuel H05pice, Oradea, Romania alonK with Ca5a Filip. Cluj. Romania, Tecei¥ed 5ub5tsntial fund5. Both of these facilitie5 offer care to the terminally ill. Mary's House which offets at¢ommodatlon and £ounsÈlling fof women in crisis pregnancy situatlons, including those considering aborfjon. offering SUPW)rt during a difficult tyme. Grace Shelter whlch offers children vltal care. House parents Olesya Krokhlnova and Maria Shykina are currently provlding a safe and stable environment for 40 children and young people. Chlldren's Mlnlstry Funds supported camp mlnistrle5. enabling thousands of children to artend camps across Mongolia, Central AsSa, Moldova, and Ukraine. Additional funding 51tpported the-joy of Christmas" initiaDve In Central Asia, Mongolia, and Armenla. providing Chri5tma5 gift5 to thousand5 of childreTh, with a similar pro8ramme also established in Ukraine and Moldova. Medla Mlnlstry IRadlo & TVI On8oin8 support was provided lor two radio pro8rarnmes via Trans World Radio in Central Asia and ore in Mon8oli3. Additronal resource5 were used to distribute radios and preloaded SD card5 across Central Asia. A weekly TV pro8romme produced by SGA-spon50red Romaniarl m155ionary Mihai Chea 0150 received fundin8 to help cover production and broadcastyn8 costs. Future Adlvltles Mlnlstry developrnent5'. SGA is actrvely engaged in dlscussions wrf(h rnini5try partners re8ardin8 the Conned de¥elopm2nt ol work In Mon8olia. Armenia, as a new SGA rnini5try country. is currently under discussion with the Field Director and Assistant to the Field Director, with several ministry opportunitres bein8 explored. It has bee a8reed to explore new rnini5tryopportunitbe5 across Central Europe. 8iblesfvr the Nations 15 a special project carried out in partnership with other or8anisations. Durin8 2026, there are ambitiou5 plan5 to publish and distrilte Bible 5et5 acr055 Central Asia. including Turkmeni5tsn. Literature projects are beinge5tablished in Sbvakia. in partnership with The Gospel Coalition. The Preachers, School in Mongolia 15 expandin& with the prospect of enrolling its largest numberof 5tudent5 to date. The Mission intends to continue supporting its current numbeT of sponsored tni55ionary pastors and to Tnaintain funding for all ongoing projects atross Centfal & Eastern Europe and CÈntral & Northern Asia. Funding will be rèised through deputation meetings, the publication of three projert leaflets annually. the Projett Response Form included in bi-monthly mailings, and credit Cardlonline giving. The Mission also seeks to expand camp ministry in Armenia. Mon801ia. and Siberia. Regional Representative posts are needed in severnl UK regions, which we are artlvely seekingto fill. Pl8ns are in place for two mission trips in summer 2026. wtth one to Hungary and another to Romankl. Thls Is a unique opportunity to Iniroduce people to world mission. Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Strategies All projects were funded by donations Irorn churches and individuals throughout United Kingdom and Ireland. Throu8hout the year, the chanty produced three project leaflets and Six "Response Cards." which were distributed alongside the bi-monthly mail-out. In addition. efforts were made to promote online givin& standing order5, and credit card donations to encourage regul3rfinancial 5UPPOrt. Incorne from legacie5 and trusts a150 provbded a significant contsijxjtion to overall fvnding. Where applicable. Gift Aid wa5 claimed. further enhancing the value of donations received. The CharV successfully met all projert 8oals In Central & Eastern Europe antl Centtsl & Northern Asia through a ¢ombination of d*putèfjon, mail-outs. and sponsorship initlatlves. The role of Volunteers The Trustees are deeply grateful to the many volunteers across the UK who generously give thelr fjme and energy to support Slèvic Gospel Association and its partners. Volunteers contribute in a variety of ways. including occasionèlly asslsttng in the office with the preparation of the bi-monthly mail-out. Others play an important role In planning itineraries for staff members. In addltron, Phoebe Representallves serve In a lUntary Capacity. providing valuable support to the organlsatton's work. Actlvltlesforthe publlc benefit SGA currently serves local evangelical churches through four key areas of ministry.. Biblical Leadership Training, Leadershlp Support. Chrisdan Literature, and Crisis Response. The purpose ol these actiVie$l5 to equlp churche5 to effectively serve their communities and provide a5515tance where it is most needed. Across all projects and rninlstries, the public benefft to tr1¥idual5, families, and cornmunltres malD5 central. Slnce Its inception, the charity has been comrnitted to dernon5tratin8 COrnPa55ion for those in need and maintainin8 a corin81 supporttve approach toward the vulnerable disadvantsged. R15k Mana8emert The principle linanclal rlsk for SGA is ol receiving insuffiCt regular income to pay grants to its partners In Eastern Europe, Central Asia, Far East Ru55ia and Mongolia. SGA limits this risk by regular c0mrnunicaon with donors and acttvely 5eekln8 new donors in particular churches and trust lunds. Tru5tee5 are aware of other Inancial ri5k5 includin8 PO55ible fraud and have 5VStems in place to rnitiypte major risks, Cash 15 handled in both received and distributed ¥ifts. Fravd is countered by two signatories on receipts for all transactions being kept che£ked against planned expenditure. Recipients of 8ifts are known to 5GA. The Trustees a150 regularly review other opeTational risks tts which the MpanY is exFx)sed are satisfied that systems a in place to Initigate eXFX)su to the fflajor risk5. which a identified a5= * Loss of key staff.. Each member of our small stsff pÈrforms a sign[Fant role. Good staff rÈlath)ns and a sense of Dwine calling has led to an excellent retention record. * Safety.. 5tèff ère briefed on personal safety precaubons to takeTr while abroad. SGA continues to develop policies and procedures to manage risk and ensure ÈffettSveness. probity and le8al and regulatory compliance. Project Fund AdMiniraoN No administrative charge5 will be dedurted from funds allotated for spÈtial projetts IPFAI. All finantial gifts designated for projerts, mission schools. and leadership support will distributed in full to their intended purw>ses. Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Key Performance Indicato There are several measures in place to assess the impart that the charitys activthes are having irs Central & Eastern Europe and Central & Northern A51a. All recipients are held accountable to the Trustees ol Slavic Gospel Association for the fund5, SOUrCes, aid or training they have received and are expected to pr(UCe regular reports of their activitie5 and use of any funLling. Regular visits are conducted with partners Teceiving ongoing funding. while ¢xcasional visits are made to those receiving 5iEnific3nt one-off sUPPOrt. These vislt5 help gather and evaluate inforrnation on progre55 and impact. The progress of Mission School Students 15 monitored through test, exarnination, and assignrnent resutts. In 3ddition, the performance of graduates is tracke(I by Mi55ion h¢)ol directors and local church leadership. Parbcipants 5UPPOrted through leadership Support PTografflme5 provide regular report5. enabling the charity to asse5$ their effectiveness. Each parbcipant also undergoe5 periodit finaniial reviews of their income. Benefltiaries of transw)rtatton fundinKafe monitored on an ongoing basis to ensu appropriatÈ USÈ and impèrt. The effecttveness of the tharity's Crisis Response ministry is Èvaluated through regular reports and mÈettn8s conducted during mlnistry trips by SGA staff. All partners recognise that any grants. training. or 8Sfts in kind a provided in pursult of the charlty's objethves and are intended to benefit the wider community they serve. A55et £over for funds Note 25 sets out an an8lysls of the assets attfibutable to the varlous lunds and a descriptton of the trusts. These assets are sufficient to meet the charlty's obligations on a fund-by-fuThd basis. Flnan¢l•l revlew The fi'nancial result for the year 5how5 a Surplus of £l,C)6,17612024.. deficit of £188,490], before chan8es In fixed a55et valuatton5. It is the policy of the eharity that uhrestritted fvrbds whith have been desi8n¥ted frr a specffic use should be malntalned for the followin8 reasons. lal to provide funds which tan be tlesignated to specific projeths to enab these projecis to be undertaken at short notyce and Ibl to cover adminisirèoon, fund-raising and support Costs without whi¢h ihe charity coulo not funaion. The trustees consider it prudent that designated reserves should be sufficient: lal to avoid the necessity of realisingfixed assets held for the charity's use,. Ibl to cover one year's administration fund-raising and support costs,. Icl to provide a pool equal to IO% of the average charitable expendtture over the precedln8 two years from which funds Can be designated to specific projetts. The Board of Directors, which meets three rneS per year. administers ihe Charity and by thi5 means monltors and ensures that there is sufh'cient funding to give workin8 capiral for the forthcoming period. occasional a sub-committee may be appointed by the Board of Trustees to complete a parricvlar tas* and report back io the Board. The Trustees review their strategy and consider how best to use the surplus free reserves. Of the £1,658,108 01 unrestricted funds held at the aT end. the trustees anticipate that these will be used for increased lundinE for current projects and planned ministry expansion_ However, the diredor5 are aware ol the rbeed to have lae 5um5 readity available sornetirnes for emergenry relief and other charitable purp05e5. All stsfl 5818ries a based on mèrket Value ènd a not rfOrMance related. Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Reserves pollcy TrustÈes ep undÈr review thÈ need for free rÈservÈs whith are those unrestrirted funds not invÈsted in tangible fixed assets or dÈsignatÈd for 3 specific purpose. Currently, to allow SGA to be managed Èfficiently and to provde 3 buffer for adverse ConngentleS. the Trustees. policy is that such reseNes should be maintained at a level of between three and six months of expendlture. The level of reserves required to be malniained is around £.()). Thls amount exludes the value of all assets as dlsposlng of them could exceed six months. The Trustees review the major risks that the Charity faces and believe that maifttaining the reserves èt the level ststed will enable the Charity to meet Its short term commitments in the event of adverse conditions. Inve$tment poll¢v The 8oard of Slavic Gospel A550ciation has ruled that the preferred optr'on of the charity 15 to irwest fund5 in the many urgent need5 presented on the Field rather than investment fflanaged fur5 in the iIK. Thi5 will be reviewed thould surplu5 fund5 become available. Oat• ple¢ll•h In view of data protection re8uladons. the Trustees h•ve • policy in place. This pollcy is available on the Ch¥rity's webslte. Safeguardlng Vulnerable fjroups The Trustees have a policy ihat ouilines the ChariVs guidelines and precautfons In relatlon ¢0 vulnerable groups who are being provided for or receiving care ihrough SGA fyndin8. Structure, lovernance and Manernert The company is a company Iimired by guarantee, company number 00945991, and charity registratron Nmber 258253. The flysheet to the accounts gives details of the charty's principal addresses and those of other relevant oryanisatrons. The trustees, who ère also the directors for ihe purpose of company law, and who served during theyear and up to the date of slgnature of the financial statementswere.. Dr F A levins MrSRWest Rev R W Trainer Rev J A Knox Mr E Macdonald MrCJ Ksmith (Resigned 31 Juty 20251 Mr D F Harvev Rev P J Kinnaird (Appointed 2Jur* 20251 Recrultment and appolntment of truAees Trustees ère not pald for their servlce In this ro other tn expenses and none had any finèncial beneficial interest In the company. A reglster of Trustees. interesrs is hejd to ensure that there are no conflitts of interestand rhls Is updated annually. The dlrectors act as Trustees of the Charity. The dlrectors are the Counc51 Memr$ to whom the o¥erall responsibility of managing and running the CharY(v is entrusted. However, the General Director is responsible for implementing rhe vision and strategy agreed by Trustees and the day to day running of the orEanisatron. A5 a ctropted member of the Council, he reports back at Trusiees, meetinES. All major policy decisions and those concerning capitsl expenditure are ratified by the Council who meet every four months with occasDnal online strategy rneetings as required. The Council Mernber5 are encouraged to propose names of w55ible fvture members. considering their: ski115, knowledge and experience location and availabilty Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED TRUSTEES, REPORT (INCLUDING DIRECtORS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Informal meetings followed by formal meetings are held with potenrial members. leading to a decision by the Council as to whether such persons are invited to serve. These procedures are accompanied by furnishing the candidate with the History and Aims of SGA. the Doctrinal Statement and the Responsibilities of a Council Member. A new Council Mernber 15 encourazed to undertak further traiThing related to his particular role inthe A550ciation. The company ha5 51Ster orEanisations in Australia. Canada, New zealar and the U. Remuneratlon pollry Tru5tee5 are not paid for their service in this ro other than expenses Jnd none had any financial beneh'cial interest in the company. A re8i5ter of Tru5tee5' interests Is hekl to ensure that there are no conflicts of intestand th15 15 updated annually. The director5 act a5 Tru5tee5 of the Charity. statement of trustees. responslbllltles The trustees, who are also the d1ctOrS of 51avic Gospel Asso¢iatyofi IBritlsh Secoonl Limited for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordance with ¥ppli¢ible law and Unlted Klngdom Accountyng Standards (United Kingdom Generally Accepted Accountlng Practfcel. Audltor In accordance wlth the company's memorandum and artfcles of assocIa0Th. a resolutton proposlng that James Todd & Co. be reappolnted as audltors of the company will be put to the Annual General Meettng. The trustees, report was approved by the eoard of Trnstees. Rev R W Trainer TNstee Dète.. 0610712026 Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SLAVIC GOSPEL ASSOCIATION (BRITISH SEclloNI LIMITED Oplnlon We have audited the linancial statements of Slavic Gospel A550ciation IBritish Seciionl Lirnited (the 'charity'l for the year ended 31 December 2025 which cornpri5e the ststefflent of financial artivitie5, the balance sheet, the 5tstement of cash flow5 and note5 to the linancial statements, including si6nth.cant aciounting tx)IKie5. The financial rep(thng fratnework that has bèen applied in their preparaknon is applicable law and United Kingdorn Aciounting Standards. including Financial Reporknng Standard 102 The Fintsncitsl Report*rtg Stondo¥d applictsble in the UK Republic of Iland IUnitÈd KinÉdom GènÈrally Accepted AccOunn8 Prartltel. In our oplnlon, the financSal statements.. give a true and fair view of the state of the charitsble company'5 affai a5 at 31 December 2025 and of its inctsming resources and 4pplicat+on of resources, foT the year then ended,. have been properly prepared in accordance with United Kingdom Generalty Accepted Accounting Practice., and hove been prepared In accordance with the qu1MentS of the Companies Att 2CK)6. Bas15 for oplnlon We tonducted our audit in ac¢ordance with International Standards on Auditin8 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards a further deKribed ifi the Audttors responsibilities fvr the oudit Of the fi'ntsficlol sttstements Se(on of our report. We a independent ol the Charity ifi accordance with the ethi(al requirements that are relevant to our avdit of the Anan£ial statements in the VK. includin8 the FRC'S Ethical Standard, and we have fulfilled our other e¢hl¢al responsibilioes in accordance with these requ1MentS. We believe that the audit evidence we have obtained is suffi¢lent and approprlaie to provide a basls for our opinfjon. Conclu51ons relatln8 to 8olng concern In auditing the linèncial statements, we have concluded that the trustees, use of the 8Oifi8 ¢on¢em $1$ of ac¢ountin8 In the preparatron of ihe flnan¢ial statements is appropriate. Bèsed on the work we hève performed, we have not identyfied any material uncertainfjes relafjng io events or conditlons ih8t, individually or collecfjvely, may cast significant doubt on the charity's ability to conttnue as a Ing concern for a period of at least twelve months from when the financial statements a at)riSed for issue. Our responslbilittes and the responsibllittes of the trustees wfth resped to going concern are described in the relevant secttons of this report. Other Informatlon The other information comprises the infOrmOn includerf in the annual port other than the flnawial statements and our auditor's report thereon. The trustees are responsible for the other informatton £ontsined within annual report. Our opinion on the financial statements does not cover the other Informaon and WÈ do not express any form of assurance concluslon thereon. Our responsibility Is to read the other informatton and. in doing so. consider whether the other informalon is materialty inconsistent with the fi.nancial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identtfy such maierial inconsistencies or apparent material mlsstatements, we are required to determSne whether this gNes rise to a material missiatement in the financlal sraements themselves. If, based on the work we have performed. we conclude ihai there Is a maierial misststement of thls other Snformation, we are requlred to report thar fact. We have nothing to report ip this regard. Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SLAVIC GOSPEL ASSOCIATION (BRITISH SEclloNI LIMITED Matters on whkh we are requlred to report by exceptlon WÈ have nothing to report in rÈspÈrt of the following matters in felaoon to whi£h the Charittes (Accounts and Reportsl Regulattons 28 requires us to report to you if. in our opinion.. the inforTn3tion given in the financial staternents 15 incon5iStent in Jny rnatefial re5pert with thetru5tees' report,. or sufficient accountrn8 records have not been kept- or the financlal statements are not in agreement with the 3ccountfng recofds- or we have not received all the information and explanation5 we require for ouraudit. Responslbllldes of twstees As explained more fully in the statement of trustees. responsibilitses. the trustees, who are also the directors of the charity for the purpose of company law. are responsible for the preraOn ol the financial statements and for being satrsfied that they 8ive a true and fair view. and for such internal control as the trustees determine is nece55ary to enable the preparation of linancial 5tstements that are free from rnaterial rni55tsternent. whether due to fraud or error. In preparin8 the linanciol statement5, the tru5tee5 are responsible for assessin8 the charity's ability to continue as a 60in8 concern, disc105in81 a5 applicable, rnatters related to 80in8 concern and u5in8 the 8oin8 concern basis of accountinE unle55 the trustee5 either intend to liquidate the Charitable companyortotease operoti¢)11s. or have no realisbt olterThative but to do $0. Audllols responslbllltles lor the •udlt of Ihe fln•h¢l41 Stsiemems We have been appointed as auditor under sethon 144 01 the Charitr"e5 Act 2011 and report in accordance with the Act and relevant re8ulations made or havin8 effect thereunder. Our objecYve$ are to obtain reasofi•ble assurnnce aljout whether the ftnarKi•l stètemefits as • whole are free from material misstatement. whether due to fraud or error. and to issue an auditor's report that in£ludes ovr opinion. Re¥sonable assurance Is a high level of assurènce but is noi a guarantee that an audit condvtted in accordènce with ISAS IUKI will always tletect a material misstatement when it exists. Misststements can arise from fraud or error and are consided material if, individually or in the aggrete, they could reasonabty be experted io influence the ewnomic decis#)ns of users taken on the basls of these financial statements. The extent to whlch our procedures are capable of detethn8 Irre8ulartttes. including fraud, Is detalled below. As part of an audit In accordance wlth IUS. we exercise professlonal Judgment and malntaln professlonal skepttcism throughout the audit. We also.. Identify and assess the Tisks ol matertal misstatement of the finanThal statement5, whether due to fraud or error, design and perform audit procedures respon51ve to those risks, and obtain audit evidence that 15 Sufficient and appropriate to provide a basis for our opinion. The risk of not detectin8 a material mi55tsternent resulting from fraud 15 hi8her than for one re5ulbn8 from error. as fraud may involve collusion, forgery, intentional omi55ions, misrepresentations, or the override of internal control. Obtain an under5tsndinE of internal control relevant to the audit in order to deSlEn audit pr¢xedwe5that 3re appropriate in the circufflstances. but not for the purpose of expressing an opiriion on the effectiverEss of the CoTnpany'5 internal control. Evaluate the appropriateness of accounting poli¢ies used and the Teasonableness of actounting e5timate5 and related distlosure5 rnade by manègement. Contlude on the appropriateness of management's of the going tontern basis of attountin8 and. based on thÈ audit evidente obtrdined, whethÈr a material untertainty Èxists related to evÈnts or tonditions that may cast signilicant doubt on the CompanTrls abilty io tontinuÈ as a going concern. If we tonclude that a materièl uncertainty exists, we are required to draw attention in our audTtor's report to the related di10$ureS in thefinanci81 statements or, rf such disclosures are inèdequate. to modify our opinion. Our conclusions are based on the èudt evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue 8s a going concern. Evaluate the overall presentation. strutture and conrent of the financial statements, and whether the financial statements represent the underl¥in8 transactions and e¥ents in a manner that achieve5 fair presentstion. 10- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SLAVIC GOSPEL ASSOCIATION (BRITISH SEclloNI LIMITED A further descrlptton of our resrx)nsibilitfes is available on Financial Rerx)rtfng Councll's webslte at.. https.'Il www.frc.org.uvauditorsresponslbsiities. Thls deKrlptKJn forms part of our auditorfs report. Use ofour report This report is made solely t() the tharity's trusteÈs. as a body. in attordante with Part 4 of the Ch3ritiÈS (Attounts and Reportsl Regulattons 28. Our audit work has been undertaken w that we might state to the charity's trustees those matters we ar required to stète to them in an auditor's report and for no other purpose. To the fullest extent pemitted by law. we do not accept or assume responsibility to anyone other than the charity and the Charl$ trustees as a boty. for our audlt work, for thSs report, or for the opinions we have formed. Ollver Read FCCA ACA (Senlor StatutoryAudllorl For and on behalf ofjames T¢dd ond Co Limited. statutory Audiior Ch3rtered Accountants Drayton House Drayton Lone Chichester West Sussex P020 2EW England Dète.. 0610712026 James Todd ènd Cg Limited is ellglble lor appointment as auditor of the charity by virtue of Its eligibllity for appointment as auditor of a company under sethon 1212 of the Companies Act 2C¥)6. 11 Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED sfATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Unrestricted lyrtds fvnds ieral designated 2025 2025 Total Unrestficted Unrestrirted funds funds general desi8Thated 2024 2024 Total 2025 2024 Notes Income and endowment5 frorn.. DOaOn$ and legaciÈs Other tradin8 activitie5 Investments 1.876.918 10,176 55.622 2.021 953.456 2.830.374 10.176 55.622 2,021 992.976 17,875 55,916 18,535 669,785 1,662,761 17,875 55,916 18,535 Other incorne Tffj•l In¢ome 1.944.737 953.456 2.898,193 1,085,302 669,785 1,755,087 Expendlture on.. Rai51n8 lund5 Charltable actrvittes Other expenditure 72,540 S05,233 19871 72,540 1.827.406 19871 58,346 502,848 1,217 58,346 1,514,929 1,217 1.322,173 1,012.081 14 Total expendlture $76.786 1.322.173 1.898.959 562.411 1,012,081 1,574,492 Net 1n9 on Investments 15 6.942 6,942 7,895 7,895 Nei In¢omellexpendltyrel 1.374.893 1368.7171 l.CrfJ6.17S 530.786 1342,2961 188,490 Transfers between funds 1387.3501 387,350 IS81,5911 581.S91 Other reco8rb15ed galns and losses.. Other gainslllossesl 17 4.174 12,1431 2.031 13.1401 2.182 19581 Net movement In funds li 991.717 16,45XI L(K)8.207 IS3,9451 241.477 187,532 Reconclliatlon of lunds: Fund balances at ljanuary 2025 666.391 1.705,949 2.372.340 720.336 1,464,472 2,184,808 Fund balances at 31 December 2025 1,658.108 1.722,439 3.380.547 666,391 1,705,949 2,372,340 The statÉmÈnt of financial ath¥5 includes all gains and l¢>sses recognised in thÈ year. All Iome and expenditure deriv from continuing athvitiÈS. 12- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED BALANCE SHE ASAT31 DECEMBER 2025 2025 2024 Notes Fixed assets Tangible assets Investments 18 19 189.418 170,384 180,352 163,442 359,802 343,794 Current assets Stocks Debtors Cash èt bank and In hand 20 10.292 84,426 2.940,828 15,354 86,699 .944.727 21 3.03S.546 114.8011 2.046,780 118,2341 Credltoys: ¥moyrtts falllng due wtthln one yt•r Net current assets 3.020.745 2,028,546 Total assets less current Ilabllliles 3.380,547 2,372,340 The funds of the charltv Unrestricted lund5 8eneral Unrestricted funds- deslgnated 25 24 1,658,108 1.722.439 666,391 1,70S,949 3.380,547 2,372,340 The company 15 entitled to the exernptton from the audit requirement contained in settlon 477 01 the Companies Act 2(MJ6, for the year ended 31 Decernber 2025. The direttors acknowledge their SpOnSibl1e$ for comptying with the re9u1ments of the Companies Att 20D6 with respÈct to accoUnng records and the preparat6on of financial ststements. The members have not required ihe company to obtsin an audit of its financial statements under the requirements of the Companies Act 2LNJ6. for the year in questknn in accordance with secbon 476. These financial 5tatement5 have been prepared in accordance with the provisionsapplicable to cornpanies subject to the Small companies regime. 0610712026 The linancial statements were approved bythe trustees on......................... Rev R W Trainer Tyustee MrCJKSmrf(h 13- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED sfATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Notes Cash flows from operatlng actIvIe$ Cash generated from operattons 962.212 98.170 Investln8 actbvltles Purchase of tsrigible fixe(J assets Proceeds from disposal of tangible fixed assets Investment income received 123.2331 139,7701 I,ooi 55.916 55.622 Net cash generated from In¥estln8 athvltSes 33.889 17.147 Net cash ynerated from Hnancin8 actlvhles N•t In¢roas• In cash (Ish equfvalents 996,101 115,317 Cash and cash equbvalents at be6innlfi8 of year 1,944,727 1,829,410 sh and ¢¥sh equlvalenls at end of ye•r 2.940.828 1,944,727 14- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollcles Charity inforniation Slavic Gospel Assotiation (Bftiish Sethonl Limiied is a prbvate Company limited by 8uaiantee in¢orptsrated in England and Wales. The registered offite is 22 Little Churth Street. Rugby. Wanvitkshire, CV213AW. England. 1.1 Bas15 of preparatlon The finèntial statements have pfepèrÈd in attordante with the tharity's governing documÈnt, the Companiès Att 2006. FRS 102 "The Financial Rewrtlng Standard applitable in UK and Republic of Ireland" I"FRS 102.1 anrl the Charities SORP "Accounting and Reporting by Charities." Statement of Recommended Practice appllcable to charittes preparing their accounts in accordance with the Fincl31 Repomng Stsndard applicable In the UK and Republic of Irel8nd IFRS 1021" (effective l January 20191. The charity is a Public Benefit Enrity as defi.ned by FRS 102. The Ilnanclal staiements a prepared in sterlin& which is the funthoMI cUrn(V ol the charity. Monetary amounts In these financièl statemenis are rounded to the neèrest f. The financial statements have beeTr prepared under the historical c05t convention, rnodified to include the rev31uation ol freehold propertie5 and to include Investfflent propertie5 and certain financial instruments at far value, The principal actounttn8 pollcle5 adopted are Set out ljelow. 1.2 Golng concern At the ttme of approving the financial siatements, the ifustees have a reasonable expectstlon that the chaflty has adequète resources to ConnUe in operattonal existence for the foreseeable future. Thus the trustees confjnue to adopt the golng concern basls of ac¢ountyn8 In prepacin8 the financial statements. 1.3 Charltable fund5 Unrestricted funds are available for use at ihe disc0 of the trustees in furtherance of thelr charitable objethves. Desl8nated funds comprlse funds which have been set aSe at the dlscretton of the trustees for 5Fecific purposes. The purposes and uses of the deslgnated funds are set out in the notes to the financlal statement& 1.4 Income Income is recognised when the charity is legally entitled to it after any performance condittons have been met, the amounts can be measured reliably. and it is probable that Income will be received. The charlty's Income conslsts of voluntary irKome. income from charitable actt¥Mes and Investment Income. The charity is not registered forVAT. Cash donations are recognised on receipt. Other donatr.ons are co£ni$ed once the charity ha5 been notified of the donation, unle55 performance condition5 require deferral of the arnount. Income tsx recoverable in relation to don3tion5 received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacie5 are recogni5ed on receipt or otherwise if the charity ha5 been notified of an impending distribution, the atnount 15 known, arid receipt 15 expected. If the atnount 15 not known. the legacy 15 treated a5 3 contingent asset. Fundraising and trading Tncome consists of monres gefterated from the sale of books, CDS and cards, as well as gistratton fees from delegates at the Charity's annual supporters conference. This is also recogntsed as income, when It Ss received. Investment income 55 wholly bank and stock interest generated and is recognised in the SOFA when receNable. 15- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 AccountiThK policies Icontinuedl 1.5 Expendlture All expenditure 15 incurred in pursuit of the Charity's objects as laid down in the Memorandum and Articles of Association and is recognised in the accounts when payable. The Charity's accounting 5VStem is desiBned to tTrce general fund expenditure and distinguish it from that directly attributsble to a project. All expenditure incurred on desi8nated funds 15ee analysi5 at note 81 15 treated as direct chpritable expenditu for charitable activtbe5. General fund expenditure is all¢tsted to 5 broad headings of AJministratlon. Prornotlons. Council Expenses. Eastern European Field ènd UK Home. Admlnlstratyve expendlture is treated as sypport costs for ¢harital)le expendilure whllsi promotlons costs are shows as cost$ of generèttng voluntary income as these late to the produ(tk)n ol promotlonal material. Councll expenses a the costs of holding regular council meetin8. Including reimbursing travelling expenses of the counc51 members. 2nd these are Included as governance costs. Governance costs also Include fees of the audltors to meet external scrutiny requirements. Eastern European Field expenditure 15 treated activthes undertakETh directly for charitsble activities. UK Home expendlture 15 split between costs ol generating lUntary Income and activities undertaken dlrectly for charitable actsvities as it includes the costs of representatr¥*s who also make trips to Eastern Europe. 1.6 Tan8lble fl¥ed •sMts Tan8ible fixed asset5 are Inittalty rnea5ured at cost and subsequentty rnea5ured at C05t or ValUaDn, net of depreCIaOn and any irnpairment1055es. Depreclatton is recognised so as io write off the cost or valuaWon of assets less their reshlual values over their useful Ilves on the following bases: Freehold land and buildings Computers Motor vehicles Straight line over 50 yea 2S% Reducing balance 20% RwJu¢in8 balance The galn or loss arlslng on the disposal of an asset Is dererrnSned as ihe dlfference between the sale proceeds and the carrying value of the asset, and is recognised in the staiemenr ol financial acriviries. During 2020, it was deemed appropriate that land be depreciated at 0%. 25% of the land and buildings value has been appropriated to land and the cumulative effect ol historic depreciation has been reversed. This is considered 8s a change of esttmate, bein8 a change in depre£iaDon rate. Tanglble fixed assets are capits1Ssed K ihey can be used for more than I year. and cost ai least £l,(NJO. 1.7 Fixed ¥5set Iiive5tments Fixed asset investrnents are initially measured at transathon price excludin@ transaction costs, and are subsequently measuretl at fair value at each repofbng date. Changes in fair value are conised in net incornellexpenditurel for the year. Trènsaction c05t5 are expensed as incurre¢J. 16- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 AccountiThK policies Icontinuedl 1.8 Impalmient of Nxed assets At each reporting end date. the charity Teview5 the carrying arnounts of its tsngible a55ets to deterrnine whether there 15 any indication that those assets have Suffered an irnpairment 1055. If any such indication exi5t5, the recoverable amount of the a55et 15 estimated in order to deterrnine the extent of the impairtnent1055 lif anyl. 1.9 Stocks Stocks are stated èt the lower of cosi and esrimated sellSn8 price less costs to complete and sell. Cost comprises dlrert materials and, where applicable, dirett lèbour costs and those overheads that have been Incurred In bringing the stocks to rheir present locallon and condition. Items held lor disiribution ai Tho or nomirsal consideratson are measured the lower of replacement cost and cost. Net realisable value Is the estym8ted selling prlce less all estymated costs of completlon and Costs to be incurred In markettng, selling and distribuon. 1.10 Cash and cash equfvalents Cash and cash equivalents Include cash In hand. deFQSits held at call with banks, other short-term liquid Investments wlth original maturbties of three months or le55. and bank overdrafts. 8ank overdrafts are shown within borrowln8s In 1.11 Fln•n¢l•l irtsiruments The charity has elected to appty the pro¥i5i0Th5 of Sethon 11 '8a5ic Financial Instrument5, and Section 12 '0ther Flnancial In5trurnent5 Issues, of FRS 102 to all of itsftnancial instruments. Flnancièl instruments are retO8hised ifi the ¢harity'S b•l•nte sheet wheth the eharity betomes party to the contrartuèl provlsions of the instrument. Financial assets and liabilifjes are offset. with the net amounis presented in the financial statements. when there is legally enforceèble right to set off ihe recognised amounts and there is an intenfjon to settle on a net basis or to reèlise the èsset and settle the liability simultaneously. 8oskftn#n¢l#lossets Basic fi'nancio1455et5, which include debtors ar Cash ar bènk balan¢es. are initially measured a transaction price including tr4n5action cost5 and a subsequently carried tyt amortised cost using the effective Inte$t method unless the arrangement constitutes a financing tran5artion. Whe the tran5a¢tion 15 rnea5ured at the presert vèlue gf the future ceIptS discounted * a market rate of inte$t. Financial assets classified as receivable %ithin one year a not amorknsed. Bosirfvnonriqlliqbilitie5 Basic linancial liabilities, in£ludinK creditor5 and barbk loan5 aTe InallY recognised at tran5artion price unle55 the arrangetnent constitute5 a linancing tran5acbon, where the debt instrument is measured at the pSert V31ue of the future payment5 discounted at a tnaiket rate of interest. Finarbcial liabilibes cla55ilied a5 payable within one year are not atnorknsed. ebt instruments are subse4uentty tairied at amortised COSL using the effethve interÈst rate method. Trade creditors are obligaon$ to pay for goods or services that have been acquired in the ordinary course of operattons from suppliers. Amounts payable are classified as current liabilitses if payment is due within one year or less. If not, they are pSented as non-current liabilities. Trade creditors are recognised initialty at transathon price and subsequent measured at amorrised cost using the effecDve interest method. 17- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 AccountiThK policies Icontinuedl Derecognlllon oAJlnunclolliubilltles Flnèncièl liabilities are derecognised when the charWs contrattual obligatfons explre or are dlscharged or canlled. 1.12 Employee beneflis The cost of any unused holiday entitlement is rewnised in the per1 in whKh the employee's seNices are received. Termination benefits are recogni5ed immediately as an expense when the charity ¢5 demonstrably committed to terminate the ernployment of an empthe orto pro¥ideterrnination benehts. 1.13 Rerernent beneflts Payments to delined ¢ontribuYon lerement ber*fit schemes a ¢har#ed as an expense as they falldue. 1.14 Forelgn exchan8e Transactsons in currencies other than pounds sierling are recorded at the rates of exchange prevalllng at the dates of the transacfjons. At each reporring end date. monetary assets and Imbilities that are denominated in forelgn currencles are retranslated at the rates prevailin8 on the reporring end date. Gains and losses arisin8 on translatbn In the period are Included In profit or loss. 1.15 Loans Issued Loan5 are occasionally issued to 5UPPOrted projects in Ea5terrb Europe. These fund5 are repayable over a Set terrn and no interest in char6ed. The amount5 recoverable are included a5 receivable5 in the account5. If In the future the Trustees deeitle fiot to request repaymefit of these amoufits, they will be wrlttn off ag 8rants pèld under fiirert Charitable A¢ttvittes. lttcal accounttn8 e5ttmates andlud8ements In the application ol the charity'5 accounting policies. the trustee5 are required to make judgernents, eSrnateS and assump0$ about the carrying amount ol assets and liabilith.es that are not readity apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimate5. The estimate5 and underlying assumpts.ons are reviewed on arb on¥oiTh8 ba515. Revision5 to accountin8 e5timate5 are recogni5ed in the period in which the estimate 15 revised where the revision affect5 only that pericxl, or in the period of the revision and future period5 where the revision affects both current and future period5. Inwme from donatlons and le8a£les Unrestrfcted Unrestdcted fund5 fvnd$ Eeneral designated 2025 Z025 Total Unrestrfcted Unrestrlrted fvnd$ funds general designated Z024 Z024 Total 20Z5 20Z4 Don8ttons and gifts Legacies 929.557 947,361 921,388 32,068 1.850.945 979.429 702,531 290,445 669,785 1,372,316 290,445 1.876.918 953,456 2.830.374 992.976 669,785 1,662.761 18- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Income from donation5 and lezacie5 Icontinuedl Unrestrfcted Unrestrfcted fund5 fvnds general desi8nated 2025 Z025 Total Unrestrfrted Unrestrlcted funds funds general designated 2024 2024 Total Z025 2024 Donations and 4ift5 Donations and gifts Donation5 from tru5t5 Glft aid recovered Conference offerings Donations to lulltime 5tsff Donattons to voluntary rePreSentsV¢S Other 619.831 52,390 48,067 55.673 150,4 705,244 102,031 S6,566 12,178 43,195 1.325.075 154.421 104.633 67.851 193,595 447,343 51,40D 39,494 62.175 98,307 531,255 49,800 50,028 10,398 27,254 978,598 101,200 89,522 72,573 125,561 2.907 289 4.967 403 2,597 1,215 933 117 3,530 1,332 114 929.557 921,388 1.850.945 702.531 669,785 1,372,316 Legècies which ère expected, but which do not meet the recognitton criteria for Legacies Receivab ère considered 8S confjn8ent assets. As theses amounts generally canN)r be valued wilh reasonable certainty, these a nor seperately disclosed. Income from other tradlnl adl¥le$ Vnrestrfrted fund5 2025 Unrestrlcted fund5 2014 Other income 10.176 17,875 Income from investments Unrestrlcted Unrestrlcted lund5 2024 2025 Interest receivable 55,622 55,916 19- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 other Income Unrestricted funds Unrestricted funds 2025 2024 Insurance clai 2.021 18,535 A¢vItIeS lor generaonz lund$ Vnrestrl¢ted fund5 2025 Unrestrlrted fund5 2024 Costs of generndn8¥olurf•ry In¢ome Conference expen5e5 Adverrislng 47.276 20.928 38,177 16,751 68.204 54,928 Cosi of goods sold Other tradin8 activIt$ 4,336 3,418 72.540 58,346 -20- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expendlture on charftable actS¥ltles Spreading the Spreading the Gospel in Gospel ITh Eastern EasterTh Europe EL4rope 2025 2024 Dlrect costs Direct C05t5 Telephone Motor costs 1,322.173 254 1,012,081 651 2.617 2,849 1,325.044 1,015,581 Grant funding of activitie515ee note 91 6,300 Share of support and R¢Mrnan¢t ¢ort$ 1st• nott 101 Support Governance 486.750 15.612 479,173 13,875 1,827.406 1,514,929 Analysls by lund Unre5tricte(J fund5- general Unrestrlcted funds- deS18led 505.233 1,322.173 502,848 1,012,081 1,827.406 1,514,929 Grant5 payable Spreadin8 the Gospel in Eastern Europe 2024 Grants to institutions.. Ruptawa Church 6,300 21 Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 io Support costs allocated to actlvMes 2025 2024 Stèff costs 363.348 13,653 8.321 1,717 2,796 1.977 225 1.771 50,127 24,994 17,821 15,612 367.762 8,369 5,058 1,559 2,782 2,045 14,207 2,798 41,024 19,687 13,882 13,875 Depreciation Dlrect costs Rent and rates Insurance Light èntl heat Repairs and maintenance Telephone Printtng, post¥Èe, statlonery and tommjter costs Motor and travel Sundry Governance c05ts 502,362 493,048 An¥tysed beiween: Spreadlng the Gospel In Eastern Europe 502.362 493,048 2025 2024 Governarbce costs comprlse.. Audit lees Accounrancy Le8al professional Trustee'5 MeenI costs 11,676 3.720 216 9,808 3,570 314 183 15,612 13,875 li Net movement Irb lunds 2025 2024 The net movement in funds is ststed afterchar8in811credith"n8).' Fee5 payable for the audit of the charity'5 financial staternents Depreciètion of owned tangible h.xed assets (Prolitllloss on disw)5al tsf tangible lixed assets 11,676 13.653 19871 9,808 8,369 1,217 Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Iz Trustees None ol the trustee5 lor any persons connected with them) received any remuneration during the year, and during the vear. one trustee was reirnbursed for expeThse5 totsling E13112024 - one trustee was reimbursed for expenses totaling £1831 to cover c05t5 incurred on charity busines5. Total donations received from directors, key rnanagement personnel and their related parties, arnourited to £10,410 12024. E24,7211. No relatetl parbe5 made purcha5e5 01 thing5 li£ book512024.. No related partie5 rnade purcha5e51. The a no other related party transèthons requiring disclosure. The charlty was under the control of ihe di¢1015 ihrouKhout the year. 13 Employee5 The average Month number ol employees durin8 thei*¥r was.. 2025 Number 2024 Number Mi55ion tearn rnember5/field workers AdmlnistraOn and promo0 Total li io Employment costs 2025 20Z4 Wages and salaries Soclal 5ecurlty cost5 Other pension costs 306,875 22,219 34,254 309,615 26,948 31,199 363.348 367,762 There were no employees whose annual remunernttoTh was more than £60.CO). Remunerdtion of key rnanagement perwnnel 2025 2024 Key management personnel remuneration forthe year 76.606 74.250 -23- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 14 otherexpendlture Unrestricted funds Unrestricted funds 2025 2024 Net Igainll loss on disposal of tangible Ilxed assets 19871 1,217 IS Galns and losses on investments Unrestrfrted funds 2025 Unrestrlrted fund5 20Z4 G¥inslllossesl arisin£ on.. Revaluafjon of Investmenis S.942 7,895 16 T•x•don The charlty Is exempt from tamaOn on sis athvltles because all Its Income Is applled lor charltsble purposes. 17 oiher8alns and Iosms Unredrftted unre#tted lunds lunds 8¢neral deslKnaied 2025 2025 Tffj•l Unredrftted UNS1r1tted funds fund5 8tneral desl8nated 2024 2024 Tot•1 2025 2024 Gain5lllosse51 UPDn- Foreign exchange 14.1741 2.143 12.0311 3.140 12,1821 958 -24- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Tanglble flxed assets CoThwttts Motor%*hlcks Total At l January 2025 Additions 151.498 2,848 1.234 98,709 21.999 112,5001 253,055 23,233 112,5001 DisP05a15 At 31 December 2025 151.498 4.082 108,208 263,788 DepreciatloTh and impairment At l January 2025 Trepreclèon charged in the year Eliminated in respect ol disp05a15 24,997 2.272 420 832 47.287 10,549 111,9871 72,704 13,653 111,9871 At 31 De¢ember 2025 27.269 1,252 45,849 74,370 C¥rryln8 amount At 31 December 2025 124.229 2,830 62,359 189,418 At 31 December 2024 126.502 2,428 51,422 180,352 All tan8ible fixed a55et5 are for charitable use. other than a small quantity ol office equipment Used in admlnistration. 19 Flxed •sset Investments Listed Invesiments Cost orValUaon At l January 2025 Valuatton changes 163,442 6,942 At 31 December 2025 170,384 Carrying arnount At 31 December 2025 170,384 At 310ecember 2024 163,442 20 Stocks 2025 2024 Finished go5 and goods for resale 10,292 15,354 -25- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 21 Debtors 2015 2024 Amtyjnts falling due within oneyear Trade debtors Other debtors Prepayments and accrued income 588 26.132 10,309 li 24.701 11,983 37,029 36,695 2015 2024 Amounts falllng due after rn0 than oneyear Other debtors 47.397 50,004 Total debto 84.426 86,699 22 Credltors: amountsfalllng due wlthln one year 2025 2024 Accruals and deferred Income 14.801 18,234 23 Rerernet beneflt schemes 2025 2024 Defined wntrlbudon schemes Char8e to profit or105s in re5pe£t of defined contribution 5chernes 34,254 31,199 The charity operates 3 defined Contribu0 pension scheme lor all qualifying employees. The assets of the scheme are held separately from those ol the charity in an indepeTrdertly administered fuThd. -26- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 24 Unrestrlcted funds- deslgnated These are unrestricted fuThds which are material to the charivs acbvities. At l January 2025 Incoming Resources expended TrnnsfersGain5 and losse5 At 31 December 2025 Support of East Europe8n 28,774 30.414 181.3491 236 18,075 Support of Mlssion Schools East European Leadership Support Phoebe Projects Llterature 16.954 13.944 149.8591 45.0 15721 25.467 220,973 45,660 360,193 29,816 1392.9931 140.6391 90,OCKI 20,OLY) 198 ios 278,371 54,942 35,629 24,876 143,941 1232.1591 135,0651 67 11,2421 27,478 12,169 Radio Ministries Vehlcles for Eastern Europe Widows Projeci Special Projects Media/Website Loans155ued Emergency Fund Tangible fixed assets UK Development Fund 20,OC 23, 13,324 652,619 10,080 67,697 184,210 1,357 107.996 262,195 115,0201 187.9231 1387.1661 9,943 34,024 621,086 10,080 65,047 184,210 627 11,5621 95,OC 12,6501 181,547 181,547 200.( 200,000 1,705.949 953.456 11.322,1731 387.350 12,1431 1,722,439 -27- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 24 Unrestricted funds- designated Icontinuedl Prevlous year: Al ljanuary 2024 In£omSng rurteS Resources expended TrnnsfeYsGalrts and l¢isses At 31 De¢ember 2024 Support of East European 9.323 19.185 124.4431 24,827 11181 28,774 Support of Mission Schools 19,8151 16.508 150.2161 477 16,954 East European Leadershlp Support Phoebe Pr¢letts Literature 124,053 4,690 221,67S 33.867 12S4,6411 I37.7> 130,0 45,OCKI 11141 11071 220,973 45,660 110,0681 16,391 19,026 7.382 173.2691 i(p).c 1601 1.103 35,629 24,876 Radio Mlnistrles Vehicles for Eastern Europe Wldows Project Specièl Projects Media/Website Loans Issued Emergency Fund Tangible fi-xed assets 22,262 31,625 770,831 10,080 150,1 184,210 19.425 45,634 287.083 118.0811 186,1651 1467,4761 23,606 13,324 652,619 10,080 67,697 184,210 22.672 60.738 14421 1,443 182.3031 160,889 20.658 181,547 UK Oevelopment Fund 2rJJ.rKA) 2,000 1.464,471 669,785 11.012,0811 581,S92 2.182 1,705,949 The Project Fund payments as shown Sn this note include Month contributtons to General Funds for mènagement and 8dministratton costs direttly attributable to the work. These are provided at a maximum of 15%19% admin, plus 6% publicity) on all gifts. The tal transferred in this way is shown in notes 7 and 9above. Transfers between the projert and emergency funds represent monies which have been lIsed from General funds to cover the work carried out towards these individual projetts. Each of the items listed abe represents an area of activities thar ihe charity supports within Eastern Europe. Together these fund5 for the 'Project Funds which the charity operates. These a as a result of donations given for use towards a particular project, but for which the charity retsins ultirnate discretion as to its application. The tran5fer5 into these funds present monies from General Funds to cover deficits on irl¥ldUdl fund5, as well a5 addbtronal monies set aside by the trustees for use toward5 these projeLI5. -28- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 24 Unrestricted funds- designated Icontinuedl In order to Increase the accuracy of the preseniatfon of the financial ststus shown In the accounts. Ir has been declded by the Trustees to designète funds to the value of the tangible h-xed assets. This is to reflert the restrictions thar the 8Ssets Impose upon the funds held- the money t*d up in the property is t)ot free to be spent without the assets being sold to realise these funds. Monies have also been desi8nated to retain sufficient lunds to meet the charitys obligations should further funds not become 8v3ilable. The Ju5trhcation of this amount Is as follows.. To avoid the nece55ity of realisin8fixed assets held for the charity'5 U5e15ee detsils obovel,. To cover one yearf5 administration. fund-raising and support costs.. To provide a pool equal to IO% of the avera8e charitable expenditure overthe precedin8 two year5 from which the fund5 can be designated to 5pecilic projects. Tran5fer5 tolfrorn the Fixed asset fund represent the net mLwements ofi the t¥n8ible fixed •55et5 durin8 the year. 25 Unrestrlrted funds The unrestricted funds of the chority comprise the unexpended balance5 of donation5 and 8rant5 which are not subject to Specific condiyons by donoT5 and 8rantor5 as to how they fflay be used. These include desi8nated funds which have been Set aside out of unrestricted fvnds by the trustees for specific purptsses. l January 2025 Incomlnl resources TransfersGalns and 105se5 At 31 December 2025 expended General fund5 666,391 1,944,737 1576.7861 1387,3501 11,116 1,658,108 Pre¥lou5 year: At l January 2024 Incomlnl reIrceS expended TransfetsGalns and losse5 At 31 December 2024 General fund5 720.336 1.085.302 1562.4111 1581,5911 4.755 666,391 26 Analysls of net a55ets between funds Unre#rkted Unrestrtcted fvnds fund5 zeneral designated 2025 2025 Total 2025 Fund balan¢es at 31 Deomber 2025 aw represented by: Tangible asset5 Investments Current a55et5l1liabileSj 189,418 189,418 170,384 3,020,745 170,384 1,487.724 1.533,021 1.658.108 1.722.439 3,380.547 -29- Doc ID.. 702a7637fSdr238561cba17708434463bb86a415
SLAVIC GOSPEL ASSOCIATION (BRITISH sEloN) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 26 Anatysis of net assets between funds Icontinuedl unrItted fvnds 8eneral Z014 un$ttted funds designated 20Z4 Total 2024 Fund tsalances at 31 Derernber 2024 are represented by: Tangible assets Investments Current a55et51l1iabileSj 11,1951 163,442 504,144 181.547 180,352 163,442 2,028,546 1,524,402 666,391 1,705,949 2,372,340 27 Related party transartlons There were no di5closable related paty transactions durin8 the year12024. none) aside from those already detslled In the trustees disc105ure Inote 121. 28 Cash generated from operatlons 2025 2024 Surplus for the year I,(X)6,176 188,490 Adjustments for: Investment incorne reco8nised in statement ol financial athvities Forelgn exchange dlfferences IGainllloss on disposal of tèn8ible lixed assets Falr value 6alns and losses on invesrment5 DeprecIaOn and impairment of tsngiblÈ fixed assets 155,6221 2.031 19861 16.9421 13,653 155,9161 19581 1,216 17,8951 8,369 Movements In worklng capftal: Decrea5ellincrea5el in Storks Decreasellincreasel in debtors (Decrease) in treditors 5,062 2.273 13.4331 12831 134,0111 18421 Cash generated from operatlons 962,212 98,170 29 Analysls of changes in net funds The charlty had no material debt duringihe year. Doc ID.. 702a7637fSdr238561cba17708434463bb86a415