2024-12-31-accounts

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Company Registration 00949989

Charity number (England and Wales) 258421 Charity number (Scotland) SC042332

AGAPE MINISTRIES LIMITED

Report and Financial Statements

Year ended 31 December 2024

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AGAPE MINISTRIES LIMITED CONTENTS

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Company Information	1
Report of the Trustees	2
Independent Auditor's Report	13
Statement of Financial Activities	17
Balance Sheet	18
Cash Flow Statement	19
Notes to the Financial Statements	20
Statement of Financial Activities	37

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AGAPE MINISTRIES LIMITED

REGISTERED OFFICE

167 Newhall Street Birmingham B3 1SW

BANK

Barclays Bank PLC Colmore Row PO Box 34 Birmingham B3 2BY

SOLICITORS

Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES

AUDITOR

Prime Chartered Accountants Charter House 161 Newhall Street Birmingham B3 1SW

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AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

The trustees (whom we refer to as our Council of Management – COM) are pleased to present their report together with the financial statements of Agapé Ministries Ltd (“the charity” or “Agapé UK”) for the twelve months ending 31 December 2024. The Trustees’ Report includes the Directors’ Report as required under company law.

Reference and administrative information are set out on page 2 form part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and Statement of Recommended Practice – Accounting and Reporting by Charities.

Structure and Governance

Governing Document

The company is established under a Memorandum of Association which sets out its objects and powers as a charitable company and is governed under its articles of association.

The Trustees

The trustees, under charity legislation, have and accept ultimate responsibility for directing the affairs of the charity, and ensuring that it is solvent, well-run, and delivering the charitable outcomes for the benefit of the public for which it has been set up.

The trustees, who are also directors under company law, who served during the year and up to the date of this report are listed in page 1 of this report. Members (including trustees) of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

Trustees’ indemnity insurance (TII) of £1 million is provided as part of the comprehensive charity insurance policy purchased by Agapé UK. It is not possible to separately identify the cost of the TII element of this policy.

Appointment of Trustees

Application process and future training requirements for new and existing Trustees will continue to be reviewed on a regular basis.

Mr Philip Knox, evangelism and missiology senior specialist at the Evangelical Alliance, was appointed as a trustee in February 2025, having attended a previous board meeting in October 2024 as an observer.

Organisation

Agapé UK is a Christian organisation and part of Campus Crusade for Christ International. Although our main activities are national, operating in eight regions across the UK, we have workers in other countries around the world.

Agapé UK is overseen by the Council of Management (COM) which meets 4 to 5 times a year. Day to day organisation is delegated to an Executive Leadership Team (ELT) of four senior members who meet on a regular basis and have oversight of the whole organisation. Each ministry department is led by a Ministry Head who reports to the Field Director. Operations, Communications, and Leadership Development & Human Resources (LDHR) have infrastructural responsibility and are managed by the Central Services Director, together with leaders from each of these departments. Operations is responsible for all finance activities including financial reporting, conferencing, and facilities management, including IT systems and processes. Communications is responsible for communicating internally and externally, including the development of messages, publicity, and fundraising initiatives. LDHR is responsible for member care, training, ongoing development of each of our workers, and recruiting.

Management and governance of Agapé UK is delegated to the National Director who is accountable to the COM. Reports are submitted as required to Companies House and the Charity Commission.

Systems are in place for line management, appraisal, member development, and supervision, together with grievance and complaints procedures.

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Risk Management

During 2024, the risk management register was reviewed quarterly by the COM and they considered the implications of the risks identified. The COM also formed their own view on high impact risks, gave input to the process and ensured all appropriate measures were in place to manage these.

At the end of the year, the Council of Management was satisfied that the major risks to Agapé UK have been assessed and in particular those related to the governance, staff, strategy, finances, and operations of Agapé UK, and are satisfied that systems are in place to mitigate exposure to these risks. Reporting procedures are in place to monitor income and expenditure. A key element in the management of financial risk is the setting of a reserves policy and its regular review. The Charity is aware of its responsibilities to manage risk and appreciates updated information on this matter from its solicitors and other professional advisors.

Responsibility of trustees

Company law requires the directors (who are the Trustees and members of the Council of Management) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the income or expenditure of the company for that period. In preparing those financial statements, the Council of Management are required to select suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent; comply with applicable accounting standards subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Council of Management is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statements as to disclosure of information to auditors

In accordance with Company Law, as the charity’s trustees, we certify that:

So far as we are aware, there is no relevant audit information of which the Charity’s Auditors are unaware; and
We have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the Charity’s Auditors are aware of that information.

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Objectives and activities

Our Purpose

Our charity’s main purposes are set out in the objects contained in the company’s memorandum of association and include:

To transmit, propagate and communicate the Gospel of Jesus Christ to students and others at universities, colleges, schools and other academic institutions as well as to the public at large.
To help those who become Christians through receiving Jesus Christ to grow toward spiritual maturity and understanding and to train them to reach others with the gospel the objective being the fulfilment of the Great Commission of our Lord Jesus Christ as set out in Matthew 28:18-20 of the Holy Bible.
To help Christians to become established as active members of local churches and to work closely with churches of many denominations.
To relieve poverty or distress.

Our Vision

Agapé UK exists to help people discover Jesus together. Our vision is that every person will have the opportunity to discover Jesus and live their lives to the full in relationship with Him.

Our Values

We want to live radical lives of love, service and influence, following the model of how Jesus lived His life on earth. This is characterised by:

Faith – in God’s supremacy, filled with faith and the Holy Spirit

Unity – unified internally and building God’s Kingdom together with the wider body of Christ

Growth – committed to spiritual growth, both individually and corporately.

Fruitfulness – striving for effectiveness and relevance

Joy – enjoying God and His Kingdom

Our teams apply these values differently depending on whether they work in universities, workplaces, families, communities or cross-culturally, but these core values are fundamental for all of us.

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Our Mission

The strategies employed to meet our vision include the following:

Presenting the gospel clearly in word and action. Helping Christian students on campus, or business and community leaders (e.g. church leaders) share the gospel clearly in word and action, giving others the opportunity to respond.
Helping individuals to develop and be active in their faith through small discipleship groups and 1-to-1 mentoring.
Contacting business and community leaders, addressing key issues in corporate life and helping create a climate of greater understanding of the Christian faith and the person of Jesus.
Sending teams of students and graduates abroad for short-term mission projects as well as longer-term assignments of 1-2 years.
Developing products and resources that aid our workers and volunteers in achieving these goals.
Developing strategic partnerships with like-minded groups and churches.
Contributing resources to Global Aid Network, our partner working to provide humanitarian aid to people living in situations of poverty and crisis overseas.

Public Benefit

In compiling this report, the Trustees have given due regard to the public benefit guidance as issued by the Charity Commission. Agapé UK is a team of people, staff, associates and volunteers seeking to obey God’s call to go and make disciples of all nations, helping everyone to understand the person of Jesus Christ and how they can come into relationship with Him and be reconciled with one another. Agapé UK works out its public benefit in a number of ways.

The Gospel of Jesus Christ is of benefit to society at large. It provides a context for forgiveness, a platform for dealing with broken relationships, a motivation for service and charity and the focus of a fulfilled and meaningful life. We believe that communities and individuals can experience transformation as they grow to understand and embrace God’s ultimate purposes for them and for the world.

Many people become disciples of Jesus Christ through the lifestyle example of Christians – sharing God’s love in action and word, clearly explaining God’s message as revealed in the Holy Bible, prayerfully expecting the Holy Spirit’s power to transform people, our communities and whole nations.

Agapé UK seeks to demonstrate this benefit through its range of mission and humanitarian activities both here in the UK and across the globe as detailed throughout this Trustees’ report.

Volunteers

Agapé UK is blessed by the contribution of the many volunteers that get involved with each of our ministries. We are thankful for all those who freely give their time to serving alongside us and want to acknowledge the part they play in helping Agapé UK to fulfil its mission.

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Achievements & Performance

God continues to give us incredible opportunities to play our part in helping to fulfil the Great Commission; inspiring people to discover Jesus, encouraging people to grow in their faith and enabling people to go and make disciples. We are seeing an increased appetite and commitment to gospel partnerships across the UK, and this Kingdom mindset is multiplying all our efforts. We continue to trust the Lord to lead us towards growing fruitfulness for His glory and we praise Him for the fruit we have seen this past year.

We have a fantastic team of staff and volunteers who in 2024 collectively gave over 145,000 hours in gospel ministry. Alongside us, we have thousands of faithful ministry partners who are financially investing with us and supporting our staff, however, we need more workers in the harvest, and more partners who will invest so that we can respond to the incredible opportunities 2025 will bring.

We are deeply grateful for the financial support of our ministry partners and all the time and effort invested by our volunteers. Each one played an important part in enabling our work to continue this year. The following is a summary of our achievements in 2024.

Student Ministry

Our student teams across the UK inspire students to discover Jesus for the first time through regular outreach events and personalised follow up. They equip students to grow in their relationship with Jesus and become more like Him through their participation in our student communities, which meet weekly, offering discipleship, Bible studies and evangelism training. Finally, they enable them to go like Jesus through local opportunities to join in with initiative evangelism on campus and global opportunities through short-term global projects. This year the national team have restructured to better serve the spiritual needs of students. These needs are significant with an estimated <1% of the UK student population knowing Jesus in a personal way. This year our team:

Partnered with The Send to become a ‘nations sending partner’, mobilising Christian students around the world.
Partnered with Wild Hope/The Send mission week where 771 people heard the gospel and 25 prayed to receive Christ.
Had significant faith conversations with over 1100 students who don’t yet know Jesus, 50 of whom are now taking steps towards knowing Jesus. (This does not include the number of people Agapé’s student leaders had faith conversations with).
Equipped 116 students to be disciple makers on their campus.

Beyond University

Beyond the student world, we are also seeking to live out the Great Commission in several other parts of society. In collaboration with churches, ministries and charities, our teams are seeking to see people discover Jesus and be transformed by the Holy Spirit. We work amongst some of the most influential and least reached people – people in political power, elite sportspeople in the professional sports world, and professionals and leaders in various industries. Our staff also bring the transforming power of Jesus to those in need in the UK and abroad – from humanitarian needs (through our Global Aid Network arm) to relational needs (through our FamilyLife work). We are bringing the Gospel to people around the world in person (through our Global team, in partnership with indigenous movements around the globe) and online (through our Digital team). Our teams, who spend most of their time helping their specific ‘audiences’ to discover Jesus, have seen engagement grow this year.

Family Ministry

Our FamilyLife team, who work to strengthen families, has been providing training, innovative programmes and resources to a growing network of volunteers to help individuals and churches effectively minister to families in their

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communities. This year a new leadership team and team structure was established and together they developed the team’s plan and priorities. In 2024 the following was achieved:

Revamped and updated core materials for multiple cultural contexts
Production of media content for YouTube and TV
Partnerships with other organisations to expand impact
Delivered ‘A Day Together’ events in partnership with local churches
Research into new areas of focus in preparation for 2025

Leaders’ ministry

Our teams work with professional sportspeople and leaders in various workplaces and sectors. We support Christians in these areas through discipleship built on personal relationships, and we also run events and Bible studies. Here are some examples of the kinds of things we have run this year:

International Women's Day luncheon. An annual event, where this year 75 of London’s leading women attended, including business leaders, politicians and diplomats. Our keynote speaker was a member of the House of Lords.
Prom Praise (hosted by All Souls Church) was a key event where we brought 60 VIP guests to experience a worship and gospel event along with Christ-centred hospitality.
1st Commonwealth Prayer Breakfast, co-organised by our team, saw 120 international guests.
The team partnered with 21 churches and organisations throughout the year.

Digital Strategies

Our digital team of staff and mentor volunteers who engage with people online, ranging from the unengaged through spiritually curious towards those professing faith, with the goal of seeing people become fully engaged followers of Jesus. This year the Digital team connected with at least 112,687 people online, directly sharing the gospel with 10,531. They achieved this primarily through:

Producing 4 new videos outlining the gospel.
Creating a social media campaign called ‘The Story of God’ producing 42 key stories from the Bible, including Welsh language, with next steps for those who are interested in discovering more using your.nextstep.is (created by our Jesus Film team).
An Easter campaign for Scotland using this ‘next steps’ platform saw 773 people request to connect with a mentor to explore faith.

Global Missions

Our Global team focus on reaching the ‘nations’ within our UK borders and around the world. We are seeing a significant impact amongst people groups that have previously been less open to engaging with the Christian message. Amongst these peoples there is a striking openness to the gospel. Our teams have been able to respond to these opportunities, responding to the spiritual needs of these communities in relevant and sensitive ways. This year the team:

Trained 24 staff and partners from across Europe in cross-cultural mission outside their passport culture in preparation for their service in 11 different countries.
Prepared for the launch of "EveryCommunity" in 2025. As the UK becomes increasingly diverse, this is a partnership project to build an online “cultural training hub” to enable churches to grow as intercultural churches reaching out into their multicultural communities. The project is in its initial phases and is gaining momentum with over ten organisations and networks committed to partnering together.
Worked alongside our national team in Sierra Leone. This included sending a team of staff and students to train Sierra Leonian students to share their faith using our resource, Living & Telling. Alongside those we trained, we saw over 500 people express a commitment to follow Jesus.

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Alongside our core global team, we also have several Diaspora teams who engaged over 10 million people from some of the least reached people groups in in the UK and abroad, particularly from the Middle East and Central Asia.

Finally, Global Aid Network , our humanitarian arm, managed over £5 million worth of donations to serve people in the UK and 12 other countries directly, as well as through 36 other charities. They also sponsored the building of a well and a church in Benin.

This year we put plans in place for Global Aid Network UK to operate as a separate charity at the start of 2025.

Church Engagement

Our Church Engagement team (new for 2023/24) is fully focused on working with local church leaders to equip their congregations for ‘every member ministry’. Our vision is that every believer in the UK will be inspired, encouraged and enabled to share their faith naturally, and as a way of life, where they study, work and live. We currently have connections with over 300 churches and networks, and we have formed on-going partnerships with local churches across the UK. Churches appreciated working with our trained staff and the ongoing partnerships we have formed to serve their needs. Church leaders report that the people in their congregations are more enthusiastic and empowered to take simple steps in sharing their faith with friends. The introduction course, Recommending Jesus, has been well received. This year the team has:

Recruited new members to build the team.
Refined our contribution to more effectively serve the local church’s needs in ‘Recommending Jesus’ to those outside the church.
Tried and tested our model for church engagement.
Delivered in-person training to 350 church members.
Represented Agapé UK at New Wine Leaders, Christian Resources Exhibition, Ekklesia Church Leaders, Intercultural Church Conference, along with other networking. We are continuing to learn what the UK church needs, to better serve them with what we have.

New and Updated Resources

Our field staff and volunteers create, develop, and trial transferable resources in response to the needs and cultural issues in effectively communicating the gospel and making disciples. Our resources are used by our staff in their dayto-day work and they are also available to purchase through our on-line shop. Our most recognised resource, Knowing God Personally booklet, a basic outline of the gospel to share with others, remains our most sought-after resource. Living & Telling and Biscuit Trail are also proven to be popular in serving the needs of our audiences. Alongside our physical resources, our digital resources, Toucan, God Tools and the Jesus Film app are having a significant impact around the world. In 2024 we produced:

New Translations

Knowing God Personally, a clear, concise way to help people discover the good news of Jesus, translated into a further two languages (Welsh and Farsi – 900 already distributed)) and now available on our God Tools app.
Finding Home Again in Farsi, a resource offering help to refugees. This is already in the hands of 600 Iranian Christian workers.

New Resources

Unfilter’d, a simple and visual tool to initiate conversations and help people express thoughts and feelings about life, faith, God and more. Now available on our website agape.org.uk .

Updated Resources

A Day Together, an evangelistic relationship course used by churches to reach out to their communities.

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The Biscuit Trail, making evangelism less awkward, is a small group resource that helps break evangelism down into 12 short, simple steps.

Pilot Phase Resources

Disciple Makers, a small group resource focusing on how to grow as a disciple and make disciples of Jesus.
Live it! Tell it!, a resource for teenagers to grow in living for Jesus and telling others about Him.

Partnerships

With our high value on ‘Kingdom’ partnerships, which is demonstrated at every level of the organisation, this year we were delighted to partner with Premier Christianity as guest editors of the October mission edition of their monthly magazine in the run-up to Missions Week. Alongside contributing several articles including inspiring stories of changed lives, global mission opportunities and practical tips for sharing your faith, we were also featured on radio and online. Our vision and desire were to inspire, encourage and enable people to share their faith and get involved in global mission. Through this partnership we were able to reach over 450,000 people.

Central Services

Underpinning the activities in the field, is the work of the Central Services departments, encompassing Operations, Communications and Human Resources. These teams serve to equip and enable our staff, volunteers and members of the public with the tools and resources they need to carry out their part in helping people discover Jesus. As an example, the team processed nearly 30,000 individual donations, 340 orders for resources, 21 staff & volunteer applications and took nine staff through training and inductions. They also carried out five team debriefs and met with 30 staff as pastoral support. In August the Conference and Events team were able to run our normal all staff conference, providing the whole staff family with an excellent programme of biblical teaching and vision for the coming year.

This past year we have made a new appointment to the role of Central Services Director, to serve in strengthening the oversight and cohesion of these departments as well as bringing greater connection to the needs of the field teams.

Alongside our annual external audit, this year we also had our regular internal audit which is carried out on a 3-5 year cycle by our global finance staff. Following this our finance team have worked to improve our practices, build strength into our financial processes and internal controls. Alongside this the Operations staff have worked together with leaders within our humanitarian arm of GAiN UK to carry out the necessary preparations to register with their own charity status on 1[st] Jan 2025. This will serve to further strengthen their position to respond to humanitarian crisis and people living in poverty both around the world and here in the UK.

What’s next in 2025?

As we look forward to the year ahead, our teams have a lot of exciting plans.

The Student team will continue to expand their work through new ministries springing up in unstaffed locations, led by local students who share the same vision. They will engage and prepare students who want to join short-term global projects. They will continue to grow strategic partnerships and work with other student organisations on university campuses.

The Family Life team will continue to develop resources including a further revamp of the course ‘A Day Together’ to better serve couples in the UK and re-package it for local churches. They will continue to develop a new initiative ‘Redeeming Love’.

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The Leaders’ Ministry teams will continue to grow their impact, including contextualising some of our global organisation’s wealth of resources, to serve the needs of the UK. They will develop training curriculum for staff and volunteers and initiatives to meet the felt needs of their various audiences.

Our Digital team will support churches and ministries to produce their own content journeys for their audiences through running training on the NextSteps platform. We will also produce our own content to better engage our own audiences. In February the new website ‘Ask a Christian’ will launch.

The Global team plan to sign up a team of influential ministries across the UK to co-produce the EveryCommunity resource – helping the diverse British church engage our multicultural nation with the gospel. Our Finding Home Again resources are being taken up by partner organisations who already have a vision for supporting the church to help refugees and immigrants. The team will facilitate sending short-term projects to Europe and Africa. They will deliver cross-cultural training for staff preparing to serve outside their home nation and cross-cultural training for staff leading in a multi-cultural context.

Global Aid Network UK will celebrate ten years since it’s launch and will begin operating under its new legal registration remaining in close partnership with Agapé UK as our humanitarian arm.

The Church Engagement team will continue at the forefront of our national focus, working with church leaders and networks to grow a disciple-making culture within churches and to inspire, encourage and enable Christians to be confident to share their faith. They will further develop ‘Live it. Tell it!’ a youth resource for churches and ‘Disciple Makers’ a resource for all church members. They will attend networking events to expand their connections and add value to more churches across the UK. The team will promote and involve churches in ‘GO Day’ in June. They plan to grow the team with at least two new members expected to join.

And as the spiritual openness to Christianity grows across the UK, all our teams are looking to see how we give every person in the UK (and many more around the world) the opportunity to discover Jesus.

Moving into 2025, the Central Services teams will work together to establish shared priorities to more effectively serve and equip our local staff in their roles. Focusing on the need to recruit into roles within Central Services as well as strengthen connections between these departments and the leaders and staff working in the field.

Coming up this year will be our all-European gathering , bringing together staff and volunteers from 42 countries in Europe where our global ministry is present. This will be a significant opportunity to envision others in the work that God is doing across Europe and the part that we are each able to play.

Setting our national focus beyond 2025

Alongside these planned activities for Agapé’s teams, 2025 will be a significant year of planning as we end our existing national five-year focus (2020-2025) and prepare for the next 3-5 years. The process will include a thorough evaluation of our goals and objectives which were set for 2020-2025 and engaging trustees, leaders and staff in clarifying our vision for the next season and setting our next national focus and plans in readiness for 2026 as we pursue that vision and carry on our mission.

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Financial Review

Agapé UK’s financial management aims are to:

Employ staff who raise funds for Agapé for the purposes of paying salaries, staff expenses for personal ministry and contribute to general funds.
Raise general funds to support the cost of Agapé UK’s operational expenses, including a high-class training and personal welfare programme.
Raise funds through specific appeals to support Agapé UK’s outreach activities.
Raise funds to support evangelistic activities overseas which are managed by overseas Agapé organisations.

Agapé UK’s financial model relies on a 12.5% deduction on all funds raised in the UK by staff and specific appeals. 9.5% is used to fund the operating costs of the ministry and 3% is tithed to be used for activities of overseas Agapé organisations. The amounts raised are affected by the number of staff raising personal support in the UK.

The overall financial performance in 2024 is as follows:

Funds raised by staff were £3.39m compared to £3.38m in 2023, an increase of £10,100.

All staff salaries including key management personnel are set according to pre-defined criteria. The salary breakdowns are laid out in detail in note 8. Three staff received emoluments more than £60k during the year.

Staff fund balances have increased in 2024 by £25k to £683k (note 18 to the accounts). This is due to several staff receiving significant one-off donations from grant making organisations and individual donors, particularly at the end of the calendar year.

The building (and associated costs) is depreciated at a rate of 2% per annum, and the costs of improvements to “The Hub” have been capitalised and will be depreciated together with the existing asset over its remaining useful economic life.

Designated funds at the end of the year are £865k (2023: £1.04m), which comprise funds for staff, ministry activities, and urgent needs relating to our staff. These funds support the various ministry activities that have taken place in the year (see note 18 for details).

Restricted funds at the end of the year are £319k (2023: £324k), which comprise funds relating to a portion of the purchase price of the Agapé UK office, funds held specifically for the ministry of other Campus Crusade for Christ entities outside the UK, and funds raised through appeals specifically for disaster response and relief work.

Total funds at the end of the year are £1.64m (2023: £1.51m).

Grants to overseas Campus Crusade activities totalled £525k (2023: £562k). This is funded directly by donations given for these purposes and the 3% Tithe.

Bank balances at December 2024 were £920k as compared to £790k at December 2023. This is a reflection of the prudent approach to operating costs in the year as well as the efforts of the staff and ministry teams in raising funds this year. We have also benefitted from the higher interest rates, receiving a stronger return on fixed term deposits and other cash in the bank. In 2024, the decision was made to open up a CCLA COIF Charities Deposit Fund and to gradually redirect funds from the Lloyds fixed term deposits into this new account to get a better return on our savings. Interest from these savings has contributed towards unrestricted general funds in 2024 and will continue to do so in the future.

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The Trustees’ Reserve Policy

The Trustees are aware that the main financial issues in 2024 are:

The continued operation of our national headquarters.
The funding of central running costs for which 76% is budgeted to be funded through the 12.5% levy on funds raised by staff together with targeted fund development activities in 2024. This is budgeted as a broadly breakeven situation.
The progress of a current initiative to develop new sources of funding for outreach activities.

The existing reserves policy is to have 6 months reserves to cover operating costs which are not directly funded from income. The budgeted costs for 2025 are around £333k and this gives a target of roughly £167k.

At December 2024, cash reserves making up the target were £137,420 for Unrestricted General Funds.

When taking cash alone, Agapé’s reserves are still below the required level according to the existing policy, although this is a significant improvement to our position at the end of 2023 (£68k in cash reserves). The Trustees are very aware of the funding constraints faced by the organisation, alongside many others in the charity sector and are committed to increasing cash reserves to provide a strong foundation that supports the wider activities of the ministry. If required, the Trustees can draw on funds designated for staff and ministry activities to cover any short-term financial gaps as funds have been given for the overall purposes of the organisation.

In the longer term, Agapé intends to increase the focus on encouraging, supporting and equipping staff to reach 100% of their support goal. This will lead to an increase in donation income into the ministry and an increase in General funds as a result. The Executive leadership team are also increasing the focus on exploring other avenues of fund development.

Auditors

Prime Accountants served as auditors throughout the period. A resolution to re-appoint Prime Accountants as auditors will be proposed at the forthcoming annual general meeting.

The Trustees’ report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption provided by section 408 and section 414B (b) of the Companies Act 2006.

Approved and authorised for issue by the board on: 14[th] May 2025

By:

Steve Botham (Chair) 167 Newhall Street Birmingham B3 1SW

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INDEPENDENT AUDITOR’S REPORT

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Opinion

We have audited the financial statements of Agape Ministries Limited (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

give a true and fair view of the state of the charity’s affairs as at 31 December 2024 and of its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005, regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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

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AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005, regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

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

the information given in the Trustees’ Report, which includes the Directors’ Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

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

adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
the trustees were not entitled to prepare the financial statements in accordance with the small company’s regime and take advantage of the small companies’ exemption in preparing the Trustees’ Report and from the requirement to prepare a Strategic Report.

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the 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.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under Section 44(1)(C) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 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 Independent Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We designed procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the industry sector;
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity including taxation legislation and data protection, antibribery, employment, environmental and health and safety legislation;
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

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

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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

Performed analytical procedures to identify any unusual or unexpected relationships;
Tested journal entries to identify unusual transactions;
Assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
Investigated the rationale behind significant or unusual transactions.

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

Agreeing financial statement disclosures to underlying supporting documentation;
Reading the minutes of meetings of those charged with governance;

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________

Enquiring of management as to actual and potential litigation and claims; and
Reviewing correspondence with HMRC and other relevant parties.

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

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Independent Auditor’s Report.

Use of the audit report

This report is made solely to the charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Morgan Davies FCA (Senior Statutory Auditor)

for and on behalf of Prime Chartered Accountants

Statutory Auditor

161 Newhall Street

Birmingham B3 1SW

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AGAPE MINISTRIES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an income and expenditure account) Year ended 31 December 2024

____________

		Unrestricted	Restricted	Total funds	Total funds
		funds	funds	2024	2023
	Notes	£	£	£	£
					(Note 26)
INCOME AND ENDOWMENTS FROM:
Donations and Legacies		4,129,268	80,836	4,210,104	4,165,196
Charitable Activities		121	-	121	6,424
Other trading activities		20,911	-	20,911	18,105
Investments		30,218	-	30,218	12,749
		───────	───────	───────	───────
TOTAL INCOMING RESOURCES	2	4,180,518	80,836	4,261,354	4,202,474
		───────	───────	───────	───────
EXPENDITURE ON:
Raising funds	3	100,337	-	100,337	11,429
Charitable activities	5	3,932,872	83,503	4,016,375	4,293,201
Other	4	13,892	-	13,892	13,037
		───────	───────	───────	───────
TOTAL		4,047,101	83,503	4,130,604	4,317,667
		───────	───────	───────	───────
Net (loss)/gain on investments		-	-	-	(857)
		───────	───────	───────	───────
NET (EXPENDITURE)/ INCOME		133,417	(2,667)	130,750	(116,050)
Transfer between funds	17	2,600	(2,600)	-	-
		───────	───────	───────	───────
Net movement in funds		136,017	(5,267)	130,750	(116,050)
Fund Balances at Beginning of Year		1,188,338	324,483	1,512,821	1,628,871
		───────	───────	───────	───────
FUND BALANCES AT END OF YEAR		1,324,355	319,216	1,643,571	1,512,821
		═══════	═══════	═══════	═══════

All the above results are derived from continuing activities.

The Charity has no recognised gains or losses other than the net movement in funds for the year. The (Deficit)/Surplus for Companies Act Purposes is £130,750 – 2023 was (£116,050).

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

BALANCE SHEET Year ended 31 December 2024

Company number 00949989	Notes	2024	2023
		£	£
FIXED ASSETS
Intangible fixed assets	10	454	2,955
Tangible assets	11	623,254	643,004
		───────	───────
		623,708	645,959
CURRENT ASSETS
Term deposits	12	483,310	624,887
Stocks	13	9,935	9,111
Debtors	14	177,046	151,237
Cash at bank and in hand		436,684	165,437
		───────	───────
		1,106,975	950,672
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR	15	(87,112)	(83,810)
		──────	───────
NET CURRENT ASSETS		1,019,863	866,862
		───────	───────
NET ASSETS		1,643,571	1,512,821
		═══════	═══════
Unrestricted funds	18	1,324,355	1,188,338
Restricted funds	19	319,216	324,483
		───────	───────
TOTAL NET ASSETS		1,643,571	1,512,821
		═══════	═══════

These financial statements which have been prepared in accordance with the special provisions relating to companies subject to the small company’s regime within CA 2006, Pt 15, were approved and authorised for issue by the board of directors on: 14[th] May 2025.

Steve Botham

Kevin Russell

Members of the Council of management

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

STATEMENT OF CASH FLOWS Year ended 31 December 2024

		2024	2023
		£	£
Cash flow from operating activities:
Net cash flow from operating activities	20	107,624	(102,347)
Cash flow from investing activities:
Interest received		30,218	12,749
Payments to acquire investments		(21,123)	(10,866)
Receipts from sales of investments		162,700	64,050
Payments to acquire intangible fixed assets		(337)	(617)
Payments to acquire tangible fixed assets		(7,835)	(20,694)
		───────	───────
Net cash flow from investing activities		163,623	44,622
Change in cash and cash equivalents in the reporting
period		271,247	(57,725)
Cash and cash equivalents at the beginning of the
reporting period	21	165,437	223,162
Cash and cash equivalents at the end of the reporting
period	21	436,684	165,437

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

AGAPE MINISTRIES LIMITED

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) – (Charities SORP (FRS102 2019)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Agape Ministries meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Preparation of the accounts on a going concern basis

The company reported a cash inflow of £271,247 for the year.

The Trustees have prepared detailed financial performance projections for the ensuing year. Those projections are reviewed and revised at the end of each reporting period within the company’s financial year. Based on those projections the Trustees have satisfied themselves that the company has adequate resources to continue in operational existence for the foreseeable future, being a period of not less than 12 months from the approval of these financial statements. Thus, the Trustees continue to adopt a going concern basis of accounting in preparing the annual financial statements.

After making prudent financial decisions around our operating costs and continuing our efforts in applying for trust fund grants, we have seen a significant improvement in the financial health of the organisation in 2024. Our staff have remained highly engaged in inviting ministry partners to join with us in our vision through generous giving and the activities of our ministry departments have served to raise our profile among churches and the spheres in which we serve.

Our model of ministry partner development, where staff raise teams of ministry partners to support the organisation financially, has proven to be robust despite the financial constraints facing the UK. Donation income has remained broadly stable over the past 3 years and we forecast it to continue doing so into 2025.

As we progress into 2025, we remain committed to solidifying the financial foundations of our organisation. We are continually reviewing our operating costs to ensure they are the right size to support the wider organisation; we are increasing our support and training of staff in the area of ministry partner development to see all staff costs fully covered; we are investing our current assets wisely to achieve the strongest possible return. We are thankful to the Lord for all He provided in 2024 and are confident of His continued provision throughout 2025 and beyond.

Company status

The company is a company limited by guarantee. The Directors of the company are the Trustees named in the “Reference and Administrative Details”. In the event of the company being wound up, the liabilities in respect of the guarantee is limited to £1 per member of the company.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

Use of estimates and judgements

When preparing the financial statements, management makes several judgements, estimates and assumptions about the recognition and measurement of assets, liabilities, income, and expenses. The estimate that has the most significant effect relates to fixed assets.

Determining residual values and useful economic lives of fixed assets

The Company depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including the property market and maintenance programme.

Incoming resources

The income and result for the year are attributable to the principal activities as set out in the report of the Council of Management. Most of the income is derived from the UK; however, some is received via Agapé Europe and via Campus Crusade for Christ International and is mainly for support of staff.

Donations include all amounts receivable by the company in respect of donations to support field workers and for other purposes.

Income includes the amounts invoiced, excluding recoverable value added tax, in respect of the sale of literature and other evangelism and discipleship resources. It also includes conference income, project income, and donations.

Resources expended

In the presentation of these accounts, expenditure against each activity includes staff expenses and an allocation of support costs, see note 3 below.

The cost of generating funds is the direct costs (including salaries) of Agapé communication to donors and an overhead allocation on the gross income raised from funding appeals. No external agencies were contracted to raise funds on behalf of Agapé and all communications were sent to individuals who had expressed consent to receive them. All giving was on a voluntary basis.

The basis for allocation of support costs to activities has been pro rata to the total income and expenses of each activity, excepting those which are restricted funds, where overseas appeals are charged a fixed percentage on gross income (see paragraph above).

The policy on grants to activities of overseas Agapé organisations is not to enter commitments to provide funding which has not yet been raised, by more than £10k for any one commitment.

Governance costs

These include the cost of professional advice, audit costs, COM meeting costs, staff costs to produce the annual accounts and reports to COM, together with an allocation support costs.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

Fixed Assets

Items of a capital nature purchased from Agapé General Funds and costing over £500 are capitalised as fixed assets at cost. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life as follows:

Freehold land	0% per annum
Freehold property	2% per annum
Computer equipment	33 1/3% per annum
Office equipment	33 1/3% per annum
Motor vehicle	33 1/3% per annum

Intangible Fixed Assets

Intangible assets are assets that are identifiable and possess all the following characteristics: lack of physical substance, nonfinancial nature (not in monetary form like cash or investment securities) and initial useful life extending beyond a single reporting period. Intangible assets are amortised over three years.

Operating leases

Rentals payable under operating leases are charged on a straight-line basis over the term of the lease.

Finance leases

Assets held under finance leases and the related lease obligations are included at the fair value of the leased assets at the inception of the lease. Depreciation on leased assets is calculated to write off this amount on a straight-line basis over the shorter of the lease term and the useful life of the asset. Rentals payable are apportioned between the finance charge and a reduction of the outstanding obligation for future amounts payable so that the charge for each period is a constant percentage of the remaining balance of the capital sum outstanding.

Stocks and work in progress

Stocks and work in progress are stated at lower of cost and net realisable value.

Tax refunds on gift aid income

Credit is taken in the Statement of Financial Activities for tax refunds receivable in the current accounting period.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which would be subsequently measured at amortised cost using the effective interest method.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Grants

Grants during 2024 were made solely to overseas Agapé/Campus Crusade for Christ activities.

3% of all donations received by Agapé UK in the year are “tithed” by way of a grant during the year following that in which they were received. These “tithes” are used to support Agape/Campus operations in countries where the need is greatest and where raising funds locally is exceptionally challenging.

Any donations received in the UK for Agapé/Campus Crusade workers based overseas are passed on, by way of an in-year grant, to the ministry in that country for use by the designated staff member.

Designated funds

The nature and purpose of such funds are as follows:

Staff: Monies received into staff accounts.

Student Ministry: Donations designated for activities intended to further the Christian discipleship of students and other young people.

Non-Campus Ministry: Donations designated for activities intended to further the Christian discipleship in the UK, including working with churches, within the workplace, and Muslims.

Projects and events: Funds held to be spent on UK events, such as Big Church Day Out, to increase the profile and exposure of Agapé UK.

Urgent Needs Fund: Staff funds specifically set aside to assist staff should they face unexpected financial difficulties or hardship.

International Ministry: Donations designated for teams working to further the Christian discipleship in countries other than the UK.

International Mission Projects: Donations designated for short term projects (less than a month) to take students to other parts of the world to further Christian discipleship.

Designated Asset based funds: Funds that reflected the net book value of fixed and intangible assets held by Agapé UK. These funds have now been consolidated and are reflected separately in the organisation’s internal accounts.

Restricted funds

These include proceeds from the sale of a restricted part of a leasehold property and specific appeals for international development projects which are managed by Agapé’s overseas sister organisations where the balance represents funds not yet utilised.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

2. INCOMING RESOURCES

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |UK|2,326,456|2,204,869| |Rest of World|1,934,898|1,997,605| |───────|───────| |4,261,354|4,202,474| |═══════|═══════|

----- End of picture text -----

3. EXPENDITURE ON RAISING FUNDS

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Staff salaries|Other direct|Allocation of|Total 2024|Total 2024|Total 2023|Total 2023| |& expenses|costs|support costs|(Unrestricted)|(Restricted)|(Unrestricted)|(Restricted)| |£|£|£|£|£|£|£| |Communication with donors|61,685|17,204|20,442|99,331|-|10,643|-| |Local appeals (unrestricted)|-|190|816|1,006|-|786|-| |───────|───────|───────|───────|───────|───────|───────| |61,685|17,394|21,258|100,337|-|11,429|-| |═══════|═══════|═══════|═══════|═══════|═══════|═══════|

----- End of picture text -----

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

4. OTHER EXPENDITURE

4. OTHER EXPENDITURE
	Staff salaries	Other direct	Allocation of	Total 2024	Total 2024	Total 2023	Total 2023
	& expenses	costs	support costs	(Unrestricted)	(Restricted)	(Unrestricted)	(Restricted)
	£	£	£	£	£	£	£
Governance costs	-	13,892	-	13,892	-	13,037	-
Other resources expended (unrestricted)	-	-	-	-	-	-	-
Other resources expended (restricted)	-	-	-	-	-	-	-
	───────	───────	───────	───────	───────	───────	───────
	-	13,892	-	13,892	-	13,037	-
	═══════	═══════	═══════	═══════	═══════	═══════	═══════

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

5. EXPENDITURE ON CHARITABLE ACTIVITIES

	Staff salaries	Other direct	Allocation of	Total 2024	Total 2024	Total 2023	Total 2023
	& expenses	costs	support costs	(Unrestricted)	(Restricted)	(Unrestricted)	(Restricted)
	£	£	£	£	£	£	£
Agapé Students	662,788	15,439	211,553	889,780	-	811,798	-
Family Life	595,151	22,797	192,641	810,589	-	517,481	-
Work Life	394,226	17,711	129,894	541,379	452	196,309	13,586
Church Partnerships	110,465	-	38,256	148,721	-	94,802	-
Global Life	469,176	69,090	195,436	733,702	-	1,499,424	-
International Mission Projects	17,443	-	2,367	19,810	-	105,110	-
Sales activity	-	12,555	9,710	22,265	-	18,268	-
Grants to overseas activities	-	513,752	240,811	743,180	11,383	925,427	13,519
Overseas appeals (restricted)	-	46,359	-	-	46,359	-	60,774
Expenditure on behalf of International ministry	-	48,755	-	23,446	25,309	30,305	6,398
	───────	───────	───────	───────	───────	───────	───────
	2,249,249	746,458	1,020,668	3,932,872	83,503	4,198,924	94,277
	═══════	═══════	═══════	═══════	═══════	═══════	═══════

Total grants made during the year to Overseas Campus Crusade for Christ Activities: £525,135 (2023: £562,401).

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

6. NET INCOMING RESOURCES FOR THE YEAR

This is stated after charging:

	2024	2023
	£	£
Staff costs (note 8)	2,882,476	2,970,717
Depreciation of intangible and tangible fixed assets	30,425	39,027
Hire of equipment – operation leases	6,359	7,440
Rent and Rates	12,435	10,107
Auditor’s remuneration – for audit	13,800	12,722

7. COUNCIL OF MANAGEMENT

No council members received any remuneration from the company in the year to 31 December 2024 (2023, nil).

A total of £91.98 (2023, £314.59) was received by Council members as reimbursement for expenditure incurred for their responsibilities with the charity.

Agape UK held Trustees Indemnity Insurance cover throughout the year of £1,000,000 (2023: £1,000,000).

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

8 STAFF COSTS

TAFF COSTS
	Salaries from	designated funds	Salaries from	general funds	Total	Total
	2024	2023	2024	2023	2024	2023
	£	£	£	£	£	£
Salaries	2,549,337	2,621,518	90,421	115,902	2,639,759	2,737,420
Social Security Costs	162,926	151,498	7,103	9,403	170,029	160,901
Employer Pension Contributions	69,976	69,016	2,713	3,380	72,689	72,396
	───────	───────	───────	───────	───────	───────
	2,782,239	2,842,032	100,237	128,685	2,882,476	2,970,717
	═══════	═══════	═══════	═══════	═══════	═══════

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

	2024	2024	2023
	Number	FTE	Number	FTE
Supported Agape Workers
Management	4	3.6	3	3.0
Administration	11	7.8	10	7.8
Field	48	35.7	49	39.9
Overseas	2	2.0	5	5.0
	───────	───────	───────	───────
	65	49.1	67	55.7
	───────	───────	───────	───────
Salaried from general funds
Administration	4	3.6	5	4.6
	───────	───────	───────	───────
	69	52.7	72	60.3
Foreign workers in UK	20	20.0	24	23.8
	───────	───────	───────	───────
TOTAL WORKERS	89	72.7	96	84.1
	═══════	═══════	═══════	═══════

Three employees received emoluments in excess of £60k in any 12 months during this time. Agapé’s ‘Key Management Personnel’ are comprised of the UK Executive Leadership Team (3 members) and 1 UK Personnel who serves in a Global Leadership Role. Key Management Personnel compensation (including salaries, employers national insurance, pension contributions and benefits in kind) during 2024 equals £151,224.30 (£141,645.13 in 2023).

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

Salary Level

The following principles are observed in setting the salary scale of all staff including key management personnel:

Salary level is based on the deliberate choice of lifestyle that best enhances the ministry's goals. This will normally entail sacrifice from what staff would otherwise earn.
Salary level should be adequate so that our staff members can minister without constant distractions due to lack of money.
Salary should consider how staff members’ lifestyle should appear to the people to whom they minister. A person's lifestyle should not interfere with his or her ministry. Certain variations may be needed within the salary scale depending on where staff members are required to live, to whom they are required to minister, etc.
Salary should consider how the lifestyle of staff members will be viewed by the local Christian community and other people. Our staff members’ lifestyle should not cause their Christian brothers to stumble.

There is not to be any variation of salary due to position within the organisation.

Supported staff of Agapé in the United Kingdom are paid a monthly salary. They can fix their own salary level between set limits and subject to their team leaders’ approval. The higher limit or “cap” is set to reflect to some extent each person’s needs, considering where they live, age, marital status and number and ages of children. The lower limit is half of the cap but only where this is greater than the National Living Wage. The salary taken by staff members will cover all their personal expenses, in the normal way, such as accommodation, water rates, Council Tax, children’s education and car expenses.

Staff are encouraged not to cover their normal reimbursable ministry expenses through taking higher salary as this is taxable income and increases the amount of support required.

The salary scale is reviewed annually in the light of changes in the cost of living and is adjusted by the prevailing RPI (Retail Price Index). A new scale takes effect from 1st January of each year.

9. TAXATION

The company is a registered charity (number 258421) and was not liable to corporation tax in the year to 31 December 2024 or in 2023.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

10. INTANGIBLE FIXED ASSETS

NTANGIBLE FIXED ASSETS
	Toucan App	Website	Total
	£	£	£
COST
At 1 January 2024	257,002	40,500	297,502
Additions	-	337	337
Disposals	-	-	-
	───────	───────	───────
At 31 December 2024	257,002	40,837	297,839
	═══════	═══════	═══════
DEPRECIATION
At 1 January 2024	254,854	39,693	294,547
Charge for the year	2,148	690	2,838
Disposals	-	-	-
	───────	───────	───────
At 31 December 2024	257,002	40,383	297,385
	═══════	═══════	═══════
NET BOOK VALUE
At 31 December 2024	-	454	454
	═══════	═══════	═══════
At 31 December 2023	2,148	807	2,955
	═══════	═══════	═══════

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

11. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
			Fixtures
	Freehold	Freehold	fittings &
	Land	Property	equipment	Vehicles	Total
	£	£	£	£	£
COST
At 1 January 2024	125,000	620,694	188,965	15,400	950,059
Additions	-	-	7,835	-	7,835
Disposals	-	-	(84,480)	-	(84,480)
	───────	───────	───────	───────	───────
At 31 December 2024	125,000	620,694	112,320	15,400	873,414
	═══════	═══════	═══════	═══════	═══════
ACCUMULATED DEPRECIATION
At 1 January 2024	-	130,931	173,986	2,139	307,056
Charge for the year	-	12,414	10,037	5,133	27,584
Disposals	-	-	(84,480)	-	(84,480)
	───────	───────	───────	───────	───────
At 31 December 2024	-	143,345	99,543	7,272	250,160
	═══════	═══════	═══════	═══════	═══════
NET BOOK VALUE
At 31 December 2024	125,000	477,349	12,777	8,128	623,254
	═══════	═══════	═══════	═══════	═══════
At 31 December 2023	125,000	489,764	14,979	13,261	643,004
	═══════	═══════	═══════	═══════	═══════

12. TERM DEPOSITS

TERM DEPOSITS
	2024
	£
Value at 31stDecember 2023	624,887
Interest earned	21,123
Disposal	(162,700)
	───────
Value at 31st December 2024	483,310
	═══════

Four 12-month fixed rate treasury deposits held with Lloyds Bank, with initial investment of £600,000 in total. Deposits opened at 3-month intervals with one maturing each quarter. In 2024, one deposit was closed and transferred to a CCLA COIF Charities Deposit Fund. The other three were reinvested upon maturity.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

----- Start of picture text -----
|||| |---|---|---| |13. STOCK| |2024|2023| |£|£| |Goods for resale|9,935|9,111| |═══════|═══════| |14.|DEBTORS| |2024|2023| |£|£| |Due within one year:| |Trade debtors|219|2,530| |Tax due as Gift Aid|-|330| |Other Debtors|6,363|16,584| |Other Campus Crusade Debtors|161,989|106,741| |Prepayments|5,049|10,256| |Deposits|-|11,314| |VAT|3,426|3,482| |───────|───────| |177,046|151,237| |═══════|═══════| |15. CREDITORS: AMOUNT FALLING DUE| |WITHIN ONE YEAR| |2024|2023| |£|£| |Trade creditors|6,258|3,571| |Other taxation and social security costs|49,501|52,628| |Pensions|-|203| |Accruals|15,436|11,500| |Other Campus Crusade Creditors|10,355|10,522| |Other Current Liabilities|5,563|5,386| |───────|───────| |87,113|83,810| |═══════|═══════|

----- End of picture text -----

16. CONTINGENT LIABILITIES

There are none to report in 2024 or in 2023.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

17. MOVEMENT IN FUNDS BALANCES

----- Start of picture text -----
|||||| |---|---|---|---|---| |General|Designated|Restricted|Total| |funds|funds|funds|funds| |£|£|£|£| |Balance at 1 January 2024|152,486|1,035,852|324,483|1,512,821| |Surplus/(deficit) for the year|(311,861)|445,278|(2,667)|130,750| |Transfers|618,545|(615,945)|(2,600)|-| |───────|───────|───────|───────| |Balance at 31 December 2024|459,170|865,185|319,216|1,643,571| |═══════|═══════|═══════|═══════|

----- End of picture text -----

18. UNRESTRICTED FUNDS

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Balance at 1|Net|Realised|Balance at 31| |January|Incoming|Gains on|Transfers|December| |2024|Resources|Investments|2024| |£|£|£|£|£| |Designated Staff|658,639|353,212|-|(328,400)|683,451| |Designated Student|20,399|(5,420)|-|8,653|23,632| |Designated Non Campus|64,831|(5,884)|-|891|59,838| |Designated Projects and Events|-|(687)|-|687|-| |Designated Fund Development|570|1,509|-|74|2,153| |Designated Urgent Needs Fund|21,688|3,074|-|(5,069)|19,693| |Designated International Mission Projects|7,222|710|-|7,957|15,889| |Designated Funds for other CCC|4,153|98,764|-|(42,388)|60,529| |───────|───────|───────|───────|───────| |Designated (Fund Based) Total|777,502|445,278|-|(357,595)|865,185| |Designated Premises|239,873|-|-|(239,873)|-| |Designated Equipment Fund|3,356|-|-|(3,356)|-| |Designated Toucan Fund|14,735|-|-|(14,735)|-| |Designated Website Fund|386|-|-|(386)|-| |───────|───────|───────|───────|───────| |Designated (Asset Based) Total|258,350|-|-|(258,350)|-| |───────|───────|───────|───────|───────| |General Funds|152,486|(311,861)|-|618,545|459,170| |───────|───────|───────|───────|───────| |Unrestricted Funds|1,188,338|133,417|-|2,600|1,324,355| |═══════|═══════|═══════|═══════|═══════|

----- End of picture text -----

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

19. FINANCIAL RESTRICTED FUNDS

FINANCIAL RESTRICTED FUNDS
		Fund raised for
		international
	Property	development	Funds for
	Fund	projects	ministries	Total
	£	£	£	£
Balance at 1 January 2024	303,581	12,357	8,545	324,483
Net incoming resources	-	884	(3,551)	(2,667)
Transfers	-	(1,525)	(1,075)	(2,600)
	───────	───────	───────	──────
Balance at 31 December 2024	303,581	11,716	3,919	319,216
	═══════	═══════	═══════	══════

The Property Fund comprises the portion of restricted funding used to purchase our current office in Birmingham.

20. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

		2024	2023
		£	£
	Net income/(expenditure) for the reporting period (as per the statement of financial activities)	130,750	(116,050)
	Adjustments for:
	Interest Receivable	(30,218)	(12,749)
	Depreciation of tangible fixed assets	27,584	25,403
	Amortisation of intangible fixed assets	2,838	13,624
	(Gains)/losses on investments	0	857
	Loss/(profit) on the sale of fixed assets	0	121
	(Increase)/decrease in stocks	(824)	1,823
	(Increase)/decrease in debtors	(25,809)	3,328
	Increase/(decrease) in creditors	3,303	(18,704)
		───────	───────
	Net cash provided by (used in) operating activities	107,624	(102,347)
		═══════	═══════
21.	ANALYSIS OF CASH AND CASH EQUIVALENTS
		2024	2023
		£	£
	Cash in hand	-	-
	Cash deposits (less than 3 months)	436,684	165,437
		───────	───────
	Total cash and cash equivalents	436,684	165,437
		═══════	═══════
22.	OTHER FINANCIAL COMMITMENTS

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

		Land &	buildings	Other	Other
		2024	2023	2024	2023
	Amounts payable on leases which expire:
	Within one year	-	-	4,744	4,444
	Within two to five years	-	-	9,811	13,471
	Over five years	-	-	-	250
		───────	───────	───────	───────
		-	-	14,555	18,165
		═══════	═══════	═══════	═══════
23.	ANALYSIS OF NET ASSETS BETWEEN FUNDS
		Unrestricted funds
		General	Designated	Restricted
		funds	funds	funds	Total
		£	£	£	£
	Fund balances at 31 December 2024 are
	represented by:
	Fixed assets	320,127	-	303,581	623,708
	Net Current Assets	137,420	866,808	15,635	1,019,863
		───────	───────	───────	───────
	Balance at 31 December 2024	457,547	866,808	319,216	1,643,571
		═══════	═══════	═══════	═══════

24. RELATED PARTY TRANSACTIONS

There are no related party transactions to report.

25. EVENTS AFTER THE BALANCE SHEET DATE

As Global Aid Network (GAiN) UK has become a separate registered charity (registered in England and Wales as a limited company no. 15270669 and as a charity no.1206235), all assets relating to their activities have been transferred to the new entity at the beginning of this next financial year. Current assets equal £30,624.68; fixed assets equals £12,942.04.

Docusign Envelope ID: D82E40E8-F851-4B2D-B44E-2C2868E950FF

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024

26. STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an income and expenditure account) Year ended 31 December 2023

		Unrestricted	Restricted	Total funds	Total funds
		funds	funds	2023	2022
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM:
Donations and Legacies		4,086,733	78,463	4,165,196	4,227,144
Charitable Activities		6,424	-	6,424	6,607
Other trading activities		18,105	-	18,105	17,401
Investments		12,749	-	12,749	479
		───────	───────	───────	───────
TOTAL INCOMING RESOURCES	2	4,124,011	78,463	4,202,474	4,251,631
		───────	───────	───────	───────
EXPENDITURE ON:
Raising funds	3	11,429	-	11,429	16,942
Charitable activities	5	4,198,924	94,277	4,293,201	4,244,648
Other	4	13,037	-	13,037	23,153
		───────	───────	───────	───────
TOTAL		4,223,390	94,277	4,317,667	4,284,743
		───────	───────	───────	───────
Net (loss)/gain on investments		(857)	-	(857)	(5,432)
		───────	───────	───────	───────
NET (EXPENDITURE)/ INCOME		(100,236)	(15,814)	(116,050)	(38,544)
Transfer between funds		(8,814)	8,814	-	-
		───────	───────	───────	───────
Net movement in funds		(109,050)	(7,000)	(116,050)	(38,544)
Fund Balances at Beginning of Year		1,297,388	331,483	1,628,871	1,667,415
		───────	───────	───────	───────
FUND BALANCES AT END OF YEAR		1,188,338	324,483	1,512,821	1,628,871
		═══════	═══════	═══════	═══════

All the above results are derived from continuing activities.

The Charity has no recognised gains or losses other than the net movement in funds for the year. The (Deficit)/Surplus for Companies Act Purposes is (£116,050) – 2022 was (£38,544).

AGAPE MINISTRIES LIMITED

AGAPE MINISTRIES LIMITED CONTENTS

AGAPE MINISTRIES LIMITED

COMPANY INFORMATION

REGISTERED OFFICE

BANK

SOLICITORS

AUDITOR

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Structure and Governance

Governing Document

The Trustees

Appointment of Trustees

Organisation

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Risk Management

Responsibility of trustees

Statements as to disclosure of information to auditors

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Objectives and activities

Our Purpose

Our Vision

Our Values

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Our Mission

Public Benefit

Volunteers

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Achievements & Performance

Student Ministry

Beyond University

Family Ministry

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Leaders’ ministry

Digital Strategies

Global Missions

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Church Engagement

New and Updated Resources

New Translations

New Resources

Updated Resources

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Pilot Phase Resources

Partnerships

Central Services

What’s next in 2025?

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Setting our national focus beyond 2025

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Financial Review

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Auditors

AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________

Matters on which we are required to report by exception

Responsibilities of Trustees

AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________