REGISTERED COMPANY NUMBER: 00355443 (England and Wales) REGIST* RLD CHARITY NUMBER: 275946 OSCR NUMBER: SC046541 Report of tbe Trll5tees #nd Fimaneial Ststement$ for the Year EDded 31st August 2024 for I'he Xingdom Hall Trust The Kingdom Hall Trust CoTrtenls of the Annual Report for the Year Ejthtd 31$t August 2024 Plgt Report ofthe Trnite¢$ Report ofihe Indep¢nd¢nt Audl¢ors 6 to 9 Statement of Fin¥4ncial Activitie5 io Bal*4ee Sheet C8sh Flow St8tement 12 Note5 to the Fin4ncig] Statements 13 to 20 Tbe Kingdom Hall Trust Report of the Trustees for the Year Ended 31st August 2Q24 The truslee5. who are also directors ofThe Kingdom Hall Ttusl {th¢ Trnsl) for the purposes of the CoTnpanie5 Act 2006, present thcir rcport with the finanrial stat¢menls ol Ihe Tnisl for the ￿r ended 31 st August 2024. The trustC¢8 have adopted the provisions of A¢¢ouniing and Reporting by Charities-. Statement of Recommended Pra¢ti¢e appli¢able to charities pr¢paring their a¢counts in accordance with the Financial Reporting Standard applicabl¢ in the UK and R¢public of Ireland IFRS 1021 (effective 1st January 20191. OWECTIVES AND ACTIVITIES ObJettlve8 and Alm5 The aims and objectives of the Trust are lo advancc the Christian religion as pr8¢1is¢d by the body of ChTlStians known Jehovah's Witncsscs. as detailed irt its Memorandum and Articles of Associatioo the governing document of the Trust. The Trust's long terni and shi>rt tenn objectives are correlated, Ihai is to ¢onlinu¢ to facilitate worship and relieve lrninisLrative burden5 on indiNryduals wherever possible. The Trust also aims to continue to providc safe. high quality buildings for the use of co]]We￿Il0ns of Jehovah's WitD¢S¥¢S, 811 of whtch are open lo the publi¢. The Trust continucs to hold a pro￿arnMe related siKial invesimeni as shown in note ei8ht to the financial state￿en1$. The investment furthers th¢ charitabl¢ aims of th¢ Tru￿, by assisting Jehovah's Witnesses around the world in findiog place5 to meet and caEry cwt IheiT worship. Th¢r¢ ar¢ no concerns regarding the s￿la1, tnvironrn¢Thtsl QT ethical nalurc of the invcstment, as it dirtttly assists with charitRble activity. The trustees are pleased with its ￿forManCe. Slgllif)cgnt 8Ctivities The Trust provides placcs of w¢)rship (Kingdom H8lls) by purcha%ing C￿npleted propertiu and frrehold land, and Maintaining the￿ buildings lo a high standard. In addition, where a Kingdom Hall cannot be made available. the Trust &ssists in renting fa¢iliti¢5 that will allow for the sarne a¢tiviti¢s. The Trust also funds expcnses conllwted with the use ora Kingdom Hall and other Jnatters rclating to facilitating publi¢ worship, which Telieves any financial artd administrative burden from the COn￿egatiOnS that worship there. The Trust measures ils succw by the rxt¢nt i* can relieve financial and adminislrdtive burden5 from 2ndividual$ who assist coThgrcgalion4 and facilitate public worship. Appropriate meaSUTes fLY how well these hav¢ tKen relieved include the number of payments made during the y¢ar and the nuTnber of meetings for public w(*ship fa¢ilithied durin8 the Public beneftt Th6 Trust is a publi¢ b¢n¢fil entity. Th¢ Trustees collfirm that th¢y hav¢ coJnpli¢d with their duly to have du¢ regard in Ihe exercise of ¢heir powers and dutie5 to the guidance on publir benefjt published by the Charity Commission. The work done by thc Trust ensures thai m¢mbers of the p￿bIle have access tothese buildings free of charge. Individuals ¢an worship together. promoting godly valuas, 5uth as well-being and r¢spccl for oihtrs. and the PTadi¢e of qualiti¢s such 85 honesty and kindnes$. Volunleers The voluntw spirit of many is crucial to the operations of the Trust. For eKample, in acC￿danCe with delt￿ted uihorily, individuals arrange for basit repairq to tht Kingdom Hall& and the purchasing of Toutine items such as cleaning materials. Some also perform maintenance checks the properiies of Ihe Trust, ensuring that th¢y are well maintained. The trustets greatly appreciate these tireless efforts. The Kingdom Hall Trust Report of the Trnstees for the Ye*r ENded 31st August 1024 STRATECIC REPORT A¢hievemtnt and performante Prlneipfil Aehlevenients for the Year During the year over 58,000 (2023.. 62.0001 pa￿ents were rnadc. This is o gotyj measure of how the Trusi continues to relieve berheficiaries of admini5tTa¢ive proG¢sbe5 duTillg the year. This has assist¢d b¢n¢fJ¢i8ri¢s io focus on theiT personal SPiFltual a¢tivities, such as worshippin&y to¥ether encouraging and helpinB each other. Caring for financial and le8al rnatiers connected to properties and cntilies would have been an extr& burden. All of thi5 rew¢s¢ntS WOTk and activity ye11¢￿d froTn individuals throughout th¢ country. Th¢ pawienls made ￿0$t]Y fa¢ilita¢ed use and nmintenance ot. Kingdojn Halls for public religious meetings. In t0121, there are 71912023.. 724) buildings owned by the Trust. All olthese places of worship remain available for the same bweficiaries who were accessing them befor¢ th¢ merge. These properties aTe open to the general public free of ¢h2rge. They provide a base in Ihe local community for activilie5 of Jellovah's Witnews. During the year 143,OlX> (2023: 144,(K)01 mectings for public Worship were hcld in these buildings. Guidance was Provid￿ to individuals to perf¢)nn ￿$¢￿1181 weekly mainienance checks to ensure that faciliti&% are maintained to a good ￿andard. During the past yeBr £17.2 tYJilliM12023.' £14 million) was donat¢d io Watch T¢)wer Bible and Traa Sniror and review the quality Of the buildings. A prevcTrtstive maintenance programrne is established at all fa¢ilitLes. L￿&1 users are trained to implement maintenance using a ¢ompTehensive system of maintenance Cards and task r¢mindeTS that cover all a5peciS of facility operaiion and mainten2nc¢. Trained maintenance personnel Support local u5cr5 to implcmcnt Ihr maintenance prO￿aMMe. FutUTe plans The TTUSt planb to continue to faciltlate the financial a¢iiviiy as previously describEd. alltswing congr¢gants io focus mue on their per&onal religious service raiher Ihan on adrnini51ralive malter5. It will also continue to I￿k for opponunilies to purch85c new Kingdom Halls of Jehovah'$ Wilness¢$ and ewtinue to assist in facilitating venueb where Kingdom Halls ar¢ not Currently availabl¢. STRucfuRE. GOVERNAP4CE AND MANACEMENT Governing Document On 28th July 1939, the Lonth)n C£btnpany of Kingdom Wiln<5s¢s was forni¢d as an unlirnited company incoTPOtaied in England and Wales. li wa¥ later fom)ally registered as a charity on 3(hh June 1978. On 18th NoveTnbeF 1994, Il was anted status as a Trust Corporation. On 1st June 1993, new Articles of A$S￿l?tion were adopted by Special Resolution. On 6th June 1994. amendments to th¢ Memorandum of Association were adopted by Resolution, including the change in natne of the rhdritable ¢ompaDy ro The iQingdom Hall Trnst. The changes were given legal ¢ffe¢i on 20th June 1994. Orl 15th July 2014, a furthci amendment was adopted by Re501uiion. to re-register the cornpany as a privat¢ oThpany. IiTnittd by gLiarantte. On 30th Stpiember 2014. the Articles of Association werc altered by Resoluiion to effect an increase in the rnaximutn nuTnb¢r (pf trustees. On 22nd March 2016. a fvrther amendment was adopted by re501utLon. On 21￿ November 2018, am¢ndments lo the Articles of Associalion were adopted by rcsvlution. Th¢ Kingydorn Hall TTUSt continucb as a registered charitable coinpany, limited by guarantee, inc(Yporat¢d in England and Walrs undcr Ihe Compani¢s Acts 1985 and 1989. On l(hh May 2016. it was registered as a ¢harity with th¢ Scottish Charity Rcglllal￿. Reeruitment #nd #ppointmett*, indv¢tlon And training of new tru8tee5 Thc TC¢Tuiimenl and induction of new tru￿t¢S is 8Tranged as follows.. The truste&8 may ai any time ¢fropi any person duly qualifi¢d tv be appointed as a trustee to fill a vacancy in thetr number or ay dll additional tru51ee. SuGh a p¢r50n mu51 be a rnember of th¢ Trust and serve as one of Jehovah's Witn￿SeS. New ITUStees arc ￿Ven training in both operational and finan¢ial matters with th¢ aid of the ¢xisting trustees and relevant diKumentation and guidaT)¢e provided by the Charity Commission. Trustees are given appropTiate ChaTity Commission publi¢alions and training is arranged as part of lh¢ meeting5 of ihe trustees when the Truo's policies are discussed. This is supplemented by periodi¢ ITa&ning provided by othw professional btylies when new Ic8islation affectlTh8 the Socicty is intrLx]uced. The trustees m¢et iogeth¢r each month and are in regular contarL The Kingdom Hall Trllst Report of the Trustee5 for the Year Ended 31st August 2024 STRUCTURE, COVERNANCE AND MANAGEMENT Organisational structure The charity 15 constituted a5 a cornpany limited by guarantee. Limited financial auih()riiy is del¢8ated to r¢¥pon$ibl¢ individuals, to ¢ni¢r inio f￿2￿¢131 iran¥a¢iions on behalf of Ihe Trust. The nature of these tran5a¢tlOll5 must k in line with direction prO￿lded. All transaclion5 Rre reviewed before payment through the systeTll5 of the Trust. Every rn¢mber of the Company uTrderiakes lo contribute such amouni as may be required {noi excee4ling £10) to the L'ompanV5 assets if it should be wound up while he or she is a member or within one year after he or she cease5 to be a member, for payment of the Company's debt5 and liabilities contracted bcfort he or She cease5 10 be a me]nber, and of th¢ cosi$, charg¢s and ¢xpens¢s of winding up, and for Ihe adjusiment of th¢ right$ of ih¢ ¢oniribulors among themselves. Wider nehvork The Trusi ¢ooperaies with other ¢hariiie$ wilh similar aims and objectives. This cweraiion sometimes takes the fomi of shared facilities or processes. The Trust also considers policies. procedures and guidelines used by entities of Jehovah's Witnesses globally with simtlar aitns and objectives, and. where appliuble. sttks to implement them. REFERENCE AND ADMINISTRATIVE DETAIIS Registered Company number (K>355443 {England ond Wales) Reglstered Charity number 275946 R¢g18t¢red (pfflee l Kin8dom Way West Hanningfield Cheltnsfffid Es&ex CM2 RFW Trustees S Abbott A Clinton Jcox R Cty)k J D Dulton {resi￿ed 31.1.24) S R Morris R Shamja lappointeil 1.2.24} P Wade Audltor5 Xeinadin Audit Ltd Ch8rtered Accwntants and Statutory Auditor Beckel House 36 Old Jewry London EC2R SDD The KiDgdom Hall TTU$t Report of the Tru5tee5 for the YEar ETrded 31st August 2024 REFERENCE AIYD ADMINISTRATIVE DETAIiS Banktrs Barclay.% Cffip￿ate North London Team 1-2 Trinity Way Chingford London E4 8TD EVENTS SINCE THE END OF THE YEAR Information relating tts evertts since the end of the year is given in ihe notes to the financial statements. STAT£MENT OF TRUSTEES, RLSPONSIBILITIES The tru5tC¢5 (who are a150 tht dire¢¢ors of The Kingdom Hall Trust for the purposes of company lawl ore responsible for prepaTin¥ the Report of th¢ T￿￿￿ee$ and the financial statements in accordance with applicable law And Unii¢d KingFdorJ) Arcounling Standards Iullil¢d Kingdom Generally Accepled A¢¢ounting Practi¢e} including Financial Reportin¥ Standard 102 "The Financial Reporting Siarldard applicable in the UK and Republic of Ireland,. Company law rL¥uires the irust¢¢s 10 prepare financial statements for ¢ach finanrial year whi¢h giv¢ a tru¢ and fair virw of the biat¢ of affairs of lh¢ charitable company and of the incoming rcscwrce5 and application of resourct& including thc income and expenditure. of the charitable ¢ompany for tha¢ p¢riod_ In preparing those financial statements. thc trustees are required to bel¢¢i suitable a￿￿ttling p)licies and then apply thein COTKSi5t¢ntly* observe the methods and principles in the Charity SORP; make judgcments and ¢5tiTnaies that are reasonahle and prudent., PTepare the fiJan¢ial s¢at¢Jnenis on the going concern basis unless it i¥ inappropriate to presume ihat Ihe charitable Omvdny will coDtinu¢ in business. The trustees are responsible for keeping prop¢r account2ng records whieh disclose wilh reasonable a￿u￿a¢Y at any tim¢ the finan¢ial position ofihe charitable company and to enable thern to ensure ihal thr fJnan¢ial siaiemenis comply with the Compani¢s A¢1 2006. They are 81so respoll8ible for 5afeguaTding the of thc charitable Company and hence for tskingreasonable step5 for the prevention and dete¢tion of fraud and other irregulariii¢$. In so far a5 the Irusitts ar¢ aware.. there is no relevant audit inforJnation of which th¢ GhaTiiable ¢ompany'$ 8uditors ar¢ unawaT< and the trustees hav¢ taken all 8teps that they ought lo have lakcn to make the￿￿elVeS aware of any Telewdnt audit infiyrnalion and to establish that thc auditor8 arc aware of that informaiion. R¢port of the trustees. jncoryioTating a srtratrgic ieprf approved by order of the board of trustees, as the cornpany directors, <>n IW January 2025 and signed on the board's behalf by.. R Cook- Trustee Report of the Independent AudittsT¥ to the Member5 of The Kingdom Hall Trust Opinion We hav¢ audit¢d the fit)an¢i81 statements of The Kingd{￿ Hall Trust (the 'chaTitable companVI for the year ended 31st Augusl 2024 which comprise the Statement of Financial Activities, the Balan¢e Sheet, the Cash Flow Staiement and noics lo the financial 8tatcmcnts, including a summary of significant 2ceounting poli¢ies. The financial reporting framework that ha5 been applicd in their PTcp&ration is applicable law and United Kingdom Accounting Standards (United Kirt¥dom Generally A¢Lepted Accuuntin¥ PTactic¢l. inrluding Finallcial Rq)orting Standard 102 The FinaTKial Reporling Standard applicable in the UK and Republic of Ireland,. In opinion the fLnanGial #aternents-. a true and fair view of the state of the rharitable co¥npany's affairs as at 31 August 2024 and of its incoming resources and application Ol're50u￿ inc1￿{1)ng ils ineome 2nd eApendilurc, for thc year then ended,. have becn properly preparcd in accordance with United Kingdom Generally Acccptcd Accounting Practice, in¢lu(Jing Finan¢ial Reporting Stand￿d 102 'The Finttneial Reporting Standard applicable in the UK and Republic of Ir¢land'; and have been prepared in accordance wilh the requirements of the Companics Act 2006 and Section 44 IIXC) ot. tht Charilics and Truslce Investment Iscollandl Act 2005 and the Charities Account$ (Scotland) Rcgulation$ 2006. Basls for oplnioo We conducled our audit in accord&nce with Intern8tional SiaThlards on Auditin8 IUKI {ISAs IUKI) and applLcablc law. Our responsibilities under those standards are furthcr dcscnbcd in the Auditors, responsibilittLs for the audit of the f)nan¢ial statements Se¢li(M of vur Twrt. We are in(Jependenl of the Gharitable company in accordance with the ethical requirements that are rel¢vanl lo our audit of the financial stai¢menis in the UK, in¢lud2ng the FRC'S Ethi¢al Standard. and we have fulfilled our oth¢r ethical resp￿sIbilItIeS in accordance with these requirements. We believe Ihai the audit eviden¢e we have obtained is sutTiGient and appropriate to provide a basis for our opinion. Conelu$ion5 relating to golng toncern In auditing the fillancial %tatements. we have concluded that the tru5tees' use of the 80in8 ¢oncem basis of ae¢¢xJntin8 in th¢ preparation of th¢ finan¢ial siatemMis is appropriate. Based on the work we have perforined. we have not identified any material uncertainlies rela(inE lo events or conditions that, irtdiwdually ty collectively, may ¢ast siw)ifi¢ant doubt on the ¢haritable company's ability to continue as a going concern fw a peri(*l of at l¢ast twelve months from when lh¢ financial statements are authorised for issue. OUT Fryon.￿Iblj1IJ￿% and the r¢spon%ibilities of the trustecs with re5PeCt to 8Olll8 concern arc dcscribcd in the rclcvant sections of this report. Other informgtion The trust￿% are respon%ible for the othcr information. The rther inf(￿mation compriscs the inforniation included in the Annual Report, other ihan the financial statemenis and ow Report of the Independent Auditots thereon. Our opinion on the financial statemen15 doe5 not cover the (*her information and except to the extent otheTWiSC expliutly $tAted in ow repott, we do rtot cxpress any form of a55urance Concl￿￿70n thercon. In connection with our audii of the tinancial slatemenls, our responsibility is to read the other tnftymation an¢ in doing sq considcr whether the other inlormation LS materially inconslstent with the financial staternenis or our knowlcd8C obtained in the audit or otherwise appvdrs lo be mateTially ￿l&stated. If we idcntify %uch material inconsi5tencie5 or apparent material misslalements. we are r¢qvir¢d io d¢t¢miin¢ wh¢ih¢r thi¥ giv¢s ribe to a mateTial misstst¢m¢nt in the rinancial slatcmenls themselves. If. based on the work we havc performed. we conclude th21 there is a material misstatement of this Other inf0m￿tIOn, we are required lo rep(Yt that fact. We have nthing to report in this re8ard. Opiiions on oiher m*tter5 preKrlbed by ihe Companie5 Att 20( ITr our opinion. based w the work undcrtakcn in the course of ihe audit.. the information given In the Report of the I rustees for the finan¢ial year for which the financial statenxnts are prepared is consistent wiih the flnancial slatem¢nts- and the Report of the TFUSt¢¢s lias been prepared in accordance with applicable l¢8al r¢4uir¢menl¥. Report of the IDdependent Auditors to the Members of The Kingdom Hgll Trust Matters on which we art required to ￿port by txeeptlon In lh¢ lighi of the knowledge and understanding of the charitable company and its environment (btaine(l in the ¢ours¢ of the audit, we have not idcnlificd mateiial rrisstalemenls in the ktport of thc TTUStees. We have nothing lo report in respect of the following matt¢r$ wh¢r¢ th¢ Companies Act 2006 requires US tv rwrt ¢0 you if, in our opinion.. adequate accounting records have noi been kept or returns adcquate for wr audit have not ken received from bran¢hes not visited by us- ¢ the financial ￿ateMentS are not in agreernent with the a¢¢ouniing r¢¢ord$ and returns,. or ertain diK105ure5 of Irust¢¢s' rctnun¢ration specified by law are not made,. or we have not received all the informalion and ¢xpl2nations we require f{￿ our audit. Rt$PODslbllltl¢s of tnistee5 As explained more fully in the Stalcment of Tnjstees, Responsibilitics, the trustees (who arc also the dire¢t4xs of the charitable company for the purposes of company lawl are responsible for the prcpardtion of the finaE)cial statements and foT being satisfied that th¢y give a tnje and fair view. and for such int¢Tnal contiol ds the trustees del¢rmine is necessary to enable ihe preparation offinancial statenJ¢nts that are fr¢¢ froTn material misstaternenl whdher due to fraud or error. In preparing the financial statements, the trustees are responsible f￿ a5se5sing the charitable cotnpany's ability 10 COTJlinue as A going ¢oncem, dis¢losinL 2$ applicable. matters related to ¥oin¥ concern and using Ihe 8oin8 concem basis of accounting unless the trustee5 either intei)d to liquidate the charitablE company or to ttase operattons. or have o realistic alternative to do so. Report of the IndependeD¢ Auditors to the Members of The KIDgdom Hall Tru$t Otyr r¢spoJb$lbilities for the audit of the fJnon¢ial s¢at¢ments Our obje£iives are to o￿al￿ Trasonable assurance aboul whether the financial statements as a whole are free from material misslaternent. whdher due to fraud or em)r, and to Issue a Report of the Indepcndent Auditor5 that includes our opinion. Reawnahle assurance is a high level of assurance, but ts not a guarantee that an audit condu¢td in a¢¢ordance with TSAS {UKI will alwoys d¢￿t a mai¢rial misstalement when it exists.. Misslaiem¢nls can arise fTom fraud or and are considerrd maierial if, individually or in the awcgate, they cou]d reasonably be expected to influence Ihe economi¢ decisions of users taken on the basis of these finan¢ial statements. The ¢xt¢nt to whieh our pr￿edureS are capable of dete¢ling irregularities. including fraud is detailed below." Irregularities. iDcludin8 fraud, are instances of non-compliance with laws and regulations. We dcs1￿ procedures in lit)e with our Tespon$ibilitie8, OLltlined above, to detect material mi$stat¢menLS in respect of iTr¢gularities, including fraud. The extent to which wr prwcdure¥ aTe ¢apable ofdetecling irregularitics. including fraud is drf8il¢d below.. Gaining understandin8 of the nature of the industry and swtor. control environrncnl and the ¢haritys actiMtie%. Understanding Ihe ￿til￿8 curre]]t activities assas and liabilitj¢5 and cotnparin¥ these lo lh¢ eniity's charitable ohjectives and aims. Reviewing any matters we identified having obtained and revicwcd the chari¢Jblt companys documentation of theLT P)li¢iu and prttedurcs relating to risk management. Performing analytical procedures io identify any unusual or unexpected rel8tiotiships that may indicate risks or materi81 misstatement due to fraud; Gaining an understanding of th¢ le¥al and r¢gulatory fra]nework applicable to the ¢ntity and how the enlily LS omplying with thai frarnework, along with any inslancc5 of non-¢ompli8nce,' D¢iecling and responding to the risks of frdud and wh￿her th¢y have knowledge of amy aetual, Sus￿Cted or alleged fvaud.. Reviewing minute8 of mcctings of those chorged wtih governance. Obiait)ing an understanding of intemal ¢onirol relevant to thc audit in order to desigm audit prwedures that are appropriate in the circutn5tance$, bui not for the purpose of expressing an opinion on ihe eff¢aiv¢n£%s of the ompany's internal rontTUI. Asse5sin¥ the appropriaien#$s of accounting polici¢s U5¢d and the rtasonablentss ot. accounting estimates, and Telated disclitsures made by the trustees, whil.st ¢hallengJng assumptions made by those charged with govtmance in the course of a¢counting estimates.. In addr¢ssing the risk of fra￿j through management override of controls, tvsting lh¢ appropriai¢ness of joumal entries aTLd uth¢r adjus¢m¢nts. assessing whether ihe judgements made in making a￿OUnting estimates 3r¢ indicative of a p£*cntial bia$ and evaluating the bu5ill¢E4 Tatimalc for any si￿1r1Cant transacti￿* ihat are unusual or outside the noTrn81 cour%e of busin¢$s. Evaluating the overall pres¢niation, structure and contcnl of thc finanGial statements, in¢ludiDg the dise105ur¢& and whether the financial ststem¢nts reyre5ent the underlyin¥ trnnsa¢iion$ and ¢vents in 2 manncr that achicvc5 lair presentsiion. A lurth¢r d¢scription of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's websi1¢ ai wwW.frc.￿￿uklaudltor5r¢5pQnslb1llt1t$. This description foms part of our Report of the Inikpcndent Auditors. Report of the Independent Avdltors to the Members of The Klngdom Hall TTUSt Use of ttport This report is made solely to the charitable company's members, as a body* lrt a¢cordan¢¢ with Chapi¢r 3 of Pan 16 of the Companies Act 2(K)6. Our audit work has ￿en undertaken so ihat wc might sia¢e lo the charitable compaThls members those tnatters we are Tequired to State to th¢m in an auditors, ieport and for no oiher purpose. To the fullest extent permitted by law, we do noi accept or assume responsibility lo anyone other than the ¢haritoble ¢ompany and th¢ charitable company's members as a body, for our audit work. for this Teport, or for the opini￿$ we have forined. N loLLoIGX vLhU rc Nicholas Humc FCA (Senior Statut(Yy Auditor) for and on bchalf of Xeinadin Audit Ltd Charter¢(l Accountants and Statutory Auditor Becket Hou$B 36 Old Jewry London EC2R 8DD Date.. The Kingdom Hall Trust St￿ten￿MI of FAn*n¢l￿ Adlvltles for the YeAr EAded 3J$t Aug¥ust 2024 2024 2023 Unr&4thcted fund UttTe$iricied N￿¢S INCOME AND ENDOWMENTS FROM Donations and legacies 26.312.509 25.180,054 Invethent income Other income 330,271 1,279.873 224,145 Total 27.922.653 25.768,640 EXPENDITURE ON Ch4ritsbl¢ ¥¢flvitie$ Providing place5 of worship f(>r Jehovah's Witnesse5 Donations lo other char2ti¢s with $imilar aims and objeGtives Assis(ing eon8re8ations of Jehovah'5 Witn¢s5¢S 7.174,224 6,488,839 17.200,720 8081679 14,801,498 7.775 006 Total 32 456 623 29 065 343 NET INCOMKI{EXPENDITURE) 14.533,970) 13,296.703) RECONCILIATION OF FUNDS Total funds br￿ght forward 218,693,127 221,989,830 TOTAL FUNDS CARRIED FORWARD 214 159 157 218693 J27 Then0￿ fonn part oflh¥* fillartLyai$iot¢tiiertis The Klngdom HAII Trust Balallct Sheet 31st August 2024 2024 Unrestri¢i¢d futhl Unresthcted fvt Nrtes FIXED ASSETS Tangibl¢ assets. S(¢ial investments 206,271,512 445,705 209,506.571 445.705 206,717,217 209,952,276 CURRENT ASSETS Debtors Cash at bank 10 2,543,675 7,801.981 1,743,823 7,748,142 10.345,656 9,491,965 CREDITORS Amounts falling due wiihim one year {2,903,716) (?51,1141 NKTCURRENT ASSETS 8 740,851 TOTAL ASSETS LESS CURRENT LIABILITIES 214.159.157 218.693,127 NET ASSETS 214.159,157 218,693 127 FUNDS UnT¢stri¢*cd fuNis 12 214.159 157 218,693.127 TOTAL FUNDS 214.159,157 218,693,127 Th¢ financial srotements w¢r¢ approved by the Board of TTUSttts afjd authorised for issue on IV January 2023 and were s1￿ClI on its behalf by= R Cwk-'frusi¢e J Coy/-- I The foTh part ofthese f￿arKI81 siat¢m¢nt$ The Kingdom Hxll Trust Cash Flow Statement for the Year Ended 315t AuEU612024 2024 2023 N￿¢$ CA6h flows from oper•tlng 8¢tlvlrfes Cash generated froin operation5 15 1,510.6461 2.442,066) Net cash used in operating activities 1,510.046) 2.442.066) Cash flows from inve&ting activities Purchase of tangible fixcd assets Sale of tangible fjxed assets. Inte￿* received 13,220.542) 4,454,756 3.10.271 1692,2701 2.066,898 224,145 Net ¢ash provided hy investing a¢ti14ties 1564 485 1598 773 ChaDge IJL ¢a5h and cash eq￿1valentS in the reportin¥ period C￿h #thd ¢#$h equlv#ltots It th¢ beglnnlng of the reporting perlod 53,839 {843,293} 7748 142 8,591.435 Cash Altd cash equivalents at the ¢Thd tsf the reportln¥ perlod 7 801981 7 748 142 The fonn t￿rtOrI￿ finall¢￿1 51aiem¢nts The Killgdom Hall Trust Note5 to the Finan¢i41 Statejllents for the Year Ended 31s* August 2024 ACCOUNTINC POLICIES B4si$ of prepaTing the fiDaDtiAI 5tAttment8 The financial stat¢ments of the charitable company, a company limited by guarantee regist¢r¢d in the United Kingdom, which is a public benefit cntity under FRS102, hav¢ been prepared in a¢¢ordan¢e with applicable charity and company law, namely the Charilies SORP IFRS1021 'AccouThling and Reporting by Charitie5'. State5nent of Recommcndtd Practice applicable lo charities preparing their a¢¢ounts in ac¢ordan¢t with the Financial Reporting SL2ndard applicablc in the UK and Republic of Ireland IFRS102} leffective l January 20191.. Finaneial Reponing Standard 102, The Financi41 R¢porting Slandard applicable in the UK aNI Republic of Ireland, leffective l January 20191, Ihc Compani¢s Arl 2006 and the Charities Act 2011. The finan¢ial $rat¢ments have been prepared under the historical cost convention or transartion value, unle stated in the relevant accounting policy notelsl. All amounts ar¢ stated in pounds sterling and rounded to the nearest whole nuTnbEr. CrftFeai AeeOvntlngJ￿dgeME￿ts key souree8 of estlmation uncertainty Th¢ preparation of the financial statements requirEs judgemenis, es¢imation$ and as$umptions to be made that affect the rq)orted value of a5S¢ts, liabilities. income and expenditure. The nature of Cstimation and judgtm¢nt m¢an5 that a¢iual outcomes could differ from expectation. 'fhe main estimate in these financial statemcnts relatcs to the value of Kingdom Halls which have been donated 10 the Charity this fit)an¢ial year the ￿[￿e of them being £87.663 {2023.. £1,266.4951. Donat￿ asscts, as stal¢d elsewhe￿. are recognised ai fair value. The charity does rjot iniend to r¢-value its assets on a five-yearfy basis $0 onc¢ establi5h¢d. this value be¢om¢s th¢ ¢0# for awout)ting purposes. Another esiimale in the% financial Statements is d¢pr¢ciation. The trustees are of the opinion that the rates #pplicd to the financial sialements sre appropriate. IReonJe All income whether in the f(m of donations, legacies or 8ift aid 15 reco￿7￿￿ in thc Ststem¢M of Financial ActÉvities once Ihe Trust h&s entitlement to the fund5. it is probabl¢ that the income will be received and the OTnounl can be mea$ur¢d reliably. All amounts aTe stated in pounds sterling and rounded to the nearest whole number. Donated asse15 are re(ogni5cd as in¢(Kn¢ when the Trnst has control over the item. thc receipt of economic benefjt from the use by ihe Trusl of ¢h¢ item is probable and that econornic benefit ran be measured reliably, Donateil assets are reco1￿1$ed at fair value. Donated incotn¢ ib included in th¢ financial stat¢m¢nts when r¢c¢iv¢d at the Trusl's hea(luarters. For legacie5, enlitlemenl is iaken as ihe earlier of the date on which either.. the TNst is awaTt that probat¢ has been gYant¢d. the estaie has b¢en fillalised and notification has been made by the execulorls) to Ib¢ Tryst (hal a distribution will be made. or when a dislributiM 15 received fTom the ¢5tate. Rcccipl of a legacyy In whole or in pari, is ￿lY Gonsidered probable when the amount can be measured reliably and Ihc Trust has been notified of the exe¢ulOT s intention to m8ke a di%tribution. Inter¢st R¢¢elvAble Inlere51 on funds held on deposit is in¢luded wh¢n re¢civable and the amount can be measured reliably by th¢ charity* ihis is n(mally upon notification of thc interest paid IK payable by the bank. Exp¢ndlture Liabilitie5 are rewis¢d as ex]Knditure Ls soon aq there is a legal or constructive obligation ¢ommiiting ihe -rrust 10 thai expenditure, it is probable that a trdnsfer of economic benefits will be requiral in setilemeni and the &mouot of the obligation can be m¢a5ured reliably. ExpEndiluie is ar¢owii¢d for on an accruals basis and has been classtfied under headings that aggregate all costs related to the tatcgory. Where costs cannot be directly attributed to paTti¢ular headings they have bcen a11￿atcd lo activities on a basis ¢onsisten¢ with th¢ use of resour¢¢s. Tbe Kiugdom Hall Trust N(btr8 to the Finan¢ial Ststements- ¢ontlllued for th¢ Y¢#r Emded 31$t Auy$l 2024 Accouf+4TINC POLICIES- continued Allocatio• 4PpOrtifynrt*￿È of ¢osts Whcre a ¢osi is incurred lor th¢ pwpose of directly achieving one of the charitable activities it is allocated to that P8rticlllaT activity. When Ihis is not the case the cost has been allocated wually ktwe¢n the Trusi's aclivltieb. Tanglble fix¢d ￿Sets Fixed assers ￿ valued on a historic cost basis. at cost Icss dq)re¢iation. This is with the ¢x¢eption of the initial recowilion of dotlaled Kithgdotn Ha115. Thcsc ale mrasuTed al fair value based ort a desktop valuation. This then becomes the ¢ost value of ihe Hall, whi¢h is subscquently depreciated. Assets costing Ic8s than £3,0￿1 are not pilalised. D¢pre¢iatim is provid¢d al the following annual rates in order to write off each asset over its e51imaled useful life.. Freehold land Buildings depreciated 2Yo to 2.SYo On C05t So¢i*l inv¢$tm¢*ts The Trust classifi&s it.% 8ocial investments as prO￿aMmC Telated. The inveStn￿nt is to further charitable aims, and any financial rerurn is incid¢nlal. The investment 15 held at cost It￿ irnpairment as fair value cannot be Me￿￿red reliably. T8XOtIo The Trust is exempt from corporation tax on its charitable activitie& Unr¢$tri¢ted funds can be used in ac¢ordance with the charitable objeclLve5 at the discretion o(th6 IrLL%ttts. Rulrictcd fund5 can only be used for particular restricted pury)05¢S Wlthin the objects of the Tmst. Restri¢iion$ arise when spetified by the donor or when funds aT¢ raised particlll8r r¢stricttd purposes. Don*ted goods Donated g(KwJ% are recwised as incorne whcn thc Trust has G￿troL over th¢ item, th¢ Te¢¢iM of e¢on{￿li¢ ben¢fL¢ from the USE by th¢ Tlubl of th¢ item is proboble and that ec¢)nomi¢ t¢Defii be m¢asur¢d reliably. Theye WCAJld be measured at fair value. Cash at bank #nd in band Cash ai bank and in hand i￿]ude currem and d¢posii a¢counts 8$ well 85 Irivial anwunts of petty cash. De￿or5 Debtlirs are reCO￿lse￿ at th¢ total amount due to ihe Trthst. Pr¢paYm￿t$ ar¢ valu¢d at the amount prepaid nei of any trad¢ dis¢ounis due. Credltors CreditUT5 are re¢ognised where the Trust has a preseni obligaiion r¢suliing from a past ¢veni that will probably resu]i in the trnnsf¢r of funds to a third party and ihe amount due lo settle the obligation can be measured OT &%limat¢d reliably. CTedittts are normally T￿ognIsed at their settlement amount after allowing for arty irade discounts due. Firtantial In8truments The Tru￿ has only basic financial assets ènd liabilitie& These are initially recognised at transaction va]ue and subsequently measured &1 their seiilem¢nl value if there is any varian¢e. If any ar¢ for a period lon8¢r than twelve months th¢se are amortised when appropriate. The Kingdom Hall Trust Notes to the FinAncial Stwtements- ¢ontinued for the VeAr Ended 31st August 2024 ACCOUNTING POLICIES- ¢ontinued Goingcontern The TrustCC5 consider the Trust a going ¢onceTn And have no m81eri81 uncertainties in this regard. A strong balance sheet position and ¢(Msist¢nt income base ¢ontribut¢ lo this conclusion. DONATIONS AND LECACIES 2024 2023 Donated Assrts Donations Gift aid Legucies 402,113 20.672,791 2,140.655 3,096.950 1,2()6,495 19.136,560 2.020,516 2.756,48.3 26.312 509 25,180 054 £3.4 ￿lI17￿n 12023.. £3 million) in donations relat¢s lo si￿]ricant repaiT5 and rcfurbishments madr to our propenies by a ¢harily which Sp￿1&11ses in caring for such buildyng5. INVESTMENT INCOME 2024 2023 D¢posii account interesl 330.271 224.145 CHARITABLE ACTIVITIES COSTS SwipK)rt Costs Ise¢ I￿1£ 51 Dinxl Costs Tota15 Providing places of worship for Jehovah'8 Witnesses Donations to other charilics with similar aim5 and objectives A&sisting umgr¢gaiions of Jehovah-s Witne￿$ 7,045,913 128.311 7.174,224 17,2(X),720 17,200.720 7,95.1,368 128.311 8,081,679 32.2(M),001 256,622 32,456,623 C•mpor4tlv¢s for 21123 Supwrt DiTtt'I Cosis IKiie 51 Toials Providing place5 of worship for Jehoi'ah's Witne&w D(ffiations to olh¢r ¢harities with similar aims and objectives As5t%tin8 con8rc8ations ol'jehtsi'ah's Witnes5e5 6.349.164 139.675 6.488.839 14.801,498 14,801.498 7.635,332 139.674 7.775,006 28.785,994 279.349 29,065,343 The KingdoD) Hall Trust Notes to the Finaacial St&ttment$- contAnued for the YeAr Ended 31st August 2024 SUPPORT COSTS FIn￿￿'e costs Totals Providing place5 of ivorship fi* Jchnvah'5 77,728 50,583 128.311 Assisting wngr¢8ations of Jehovah's Witnesses l28.311 155.456 101.166 256,622 Comparatives for 2023 GovernHnce ¢081S Finance Totals Providing pia¢¥'s ot"worship tor Jehovah'"s Witne&ses Assisling Lxingregations of Jehuvah's Witn¢&8es 60.580 79.095 139,675 60.580 79.094 139,674 121.160 158 189 279.349 NET INCOMFJ(EXPENDITURE) Nei in¢om¢ll¢xp¢ndiiur¢) is stated afteT charsinsl(credrtingl.' 2024 2023 Auditors, remuneTatLon Dwreciaiion- owned assets Surplus on disposal of fixed assets 58.21XJ 3,193,327 632 569) 74,400 3,197.585 303.526) TRUSTEF%I REMVNERATION AND BENEFITS There ivere no tru.wees' remuneration or othcr benefits for the year ended 31st Augusi 2024 nor for th¢ year end¢d 31st Au8Jsl 2023. Th¢ trLLStees and their spouses donated in tulal £1,42012023.. £1,026) io th¢ charity. Trn5tee$' est￿￿$¢$ There were no irusl¢¢s' expenses paid for th¢ year ended 31stAugu#2024 nor for ¢h¢ year ended 31st August 2023. The Kingdom Hall Trust Notes to the Flnanelal St#temcnts- eontinued for the Ye#r Endod 31st AuEllSt 21124 TAiYGIBLE FIXED ASSETS Freehold prvp¢rty cos'i. At I s¢ September 202.1 Additions Di$posals 217,753,900 3.780,455 3.995,368) At 31$t August 2024 217,538 987 DEPRECIATION At 1st Septemh¢r 2023 Charge for year Eliminated on disposal 8,247,329 3,193,327 173 181) At 31st Au8USt 2024 11.267.475 NET BOOK VALUE At 315t August 2024 206,271,512 At 3l5t August 2023 209,506,571 SOCIAL INVESTMENTS Progrnmme relbted invesiments 4Uity MARKET VALUE At 1st Sept¢mb¢r 2023 and 31si August 2024 NET BOOK VALUE At 3151 August 2024 445,705 At 3151 August 2023 445,705 This reprcsents an investment in a proj¢¢t whi¢h hclp$ Jehovah's Witnesse% around the world in fjnding places to eer and ¢arry out their wor.%hip. The irustees are very confjdent in its perf0m￿n¢t and that it will ¢ontinue 10 advan¢¢ th¢ charitable aims and objectjve5 of the Trust. The Kingdom H411 Trust Trlote5 to tbe Finanfial S¢a¢ements- eontinued for the Year Knded 318t August 2024 io. DEBTORS.. AMOUNTS FALLING DUE WITHif4 oiyE YEAR 2D24 2023 Other debtors Prepaytnents and accrued incotne 849,790 1093 885 980,209 763 614 2 543 675 1743.823 ii. CREDITORS: AMOUNTS FALLING DUE WIT'HIN ONE YEAR 2024 2023 Trade ￿edItorS OtheT CTeditors ACCI￿￿ expenseb 2.568.823 154.293 1 80.600 103,153 165,361 482 600 2.903,716 751.114 A2. MOVEMEIYT IN FUNDS Nei Ai 31.1124 Ai 1.9. in funds Unrestricted funds General fund 218.693.127 (4.533.970) 214.159,157 TOTAL FUP4DS 218,693.127 4,533.9701 214.159 157 Nel mov¢ment in funds, includ¢d in the above are as follows: Incoming r￿Ur(C3 Resourtes cxpcndcd Movcmcnt in lunds Unrts¢ri¢ttd fund$ General fund 27.922.653 {32.456,6231 {4,533,9701 TOTAL FUIYDS 27.922,653 32.45&623) 4,533,970) Comp*ratSve8 for movement in funds Net oveinent in funds Al J1.8.23 Al 1.9.22 Unre$trlei¢d fund$ Gen¢ral fund 221.989.830 13,296,703) 218,693,127 TOTAL FUNDS 221989 830 3 296 7031 218.693 127 The Kingdom Hall Trust Note$ to the Finincial Statements- ctsntittued for the Ye8r Ended 31st August 2024 12. MOVEMENT IN FUNDS- Comparative net moitmeni An funds, included in the above are as follows.. Incoming re50UTces Resources expEnded Movement ID fuDd5 Unrestri¢ted fund5 Gojeral fund 25.768,640 129.065.343) (3,296,703) TLITAL FUiYDS 25,768,640 ￿29 065 343) 3,296.703) 13. RELA"fED PAR'I'Y DISCLOSURLS Although there ar¢ no relai¢d parties, the Trust cooperates with other chatities with similar aims and obj¢¢tives. This ci)operdiion sometirnes tak¢5 the forrn of shaTed facilities or proEesse5. Thc Trust also considers policies. procedures and guidelines u$¢d by entities of Jehovah's Witt)es$&s globally with similar aims and objective& and, where appli¢able, seeks to implerneni thern 14. POST BALANC'E SHEET bVLNTS On 12th July 2024 the T[￿$t subscribed to purchase 631.250 Él shdfes ITJ Mina Treasur) Services Limiled as a social invesim¢nl, and paid for these shares after year end. 15. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING AcfiviTIES 2024 2023 Nti exp¢ndltsr¢ for the reportlng perlod (as per tbe Statement of Finan¢i#l A¢¢ivitie%} AdJu$tments for: Depreciation charges Profit disP0531 of fixed assets Interest received Dottated a88et8 Assets doi)ated Inuease in debtor IncTeas¢ ii) ttedil(>rs {4.533,970) 13,296,703) 3.193 J27 (6.32.569) (330,271) (559.9131 3.197.585 {303,5261 (224.1451 11.266.495) 198.-$65 11,092.1951 344.$48 {799,8521 2.152,602 f4¢t cAsb used in oper*tiong 1.510.646 2,442 066 16. ANALYSIS OFCHANGES IN NL'f FUNDS At 1.9. Cash now Ai 31.8.24 Net tasb c.ash at bank 7,748,142 53,839 7,801,981 7,748,142 53,839 7.801,981 Total 7.748.142 53.839 7.801,981 The Kingdom Hall Trust Note5 to the Financial Statement5- Colitinued for tbe Year Endtd 31st August 2024 17. EMPLOYEES Th¢ Trust d(w noi hav¢ any ¢mploy¢e$12023.. nill. 20