Charlty Reglstratlon No. 285474 (England and Wales) Company Règistratlon No. 01648879 {Enyland and Wales) Company Reglstratlon No. SC040881 {S¢otlandl LUIS PALAU EVANGELISTIC TEAM {THE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LUIS PALAU EVANGELISTIC TEAM (THE) LEGAL AND ADMINISTRATIVE INFORMATION Dlrectors MrSFMBerry Mr D G MaGkenzi8 Mr A L Palau Mr K D Palau L8dy S M Sainsbury Mr M R Spr8tt Mr B R Grrffilhs Chorlty number 285474 (England and Wales) Charlty numb•r SC040681 (Scollandl Company numbor 01648879 IEngland and Wgle8) Prlnclpal •ddrès8 and rogl8t•r•d offlce Unlt g The Old Courtyard Eckland Lodge euslnèss Park Market Harborough Leicestershlre LE16 BHB Audltor M T Manlgy & Co Limllèd 696 Yardley Wood Road Billg$ley BSrmlngham B13 OHY
LUIS PALAU EVANGELISTIC TEAM (THE) CONTENTS Pag• Dirè¢lors' report Slalement of diréctors re3ponsibilllle$ Independent audllor8' report Slalemenl of 1lnanclo18cllvllles Ilncludlng Income and Expenditure Account) 8alance $heel Note$ to the financlal slalomgnts 10-14
LUIS PALAU EVANGELISTIC TEAM (THE) DIRECTORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The dirèctors who ore also tru$lees of Iha charitable company present thelr report and financial $t8tements for the yèar ended 31st December 2024. Tho financial slalements have been pr8pared in a¢¢ordan¢& with the a¢counling pollcles 8et out in note 1 to Ihe financial $latemenlB and comply wlth the charity's goveming document, the Cornpanles Act 2006 and th8 Statement of Recommended Pra¢tiTr. "Accounting and Reporting by Charilies" issued In March 2005. in occordance with Ihè Financial Reporting Standard appllcable in the UK arKI Republic of Ireland IFRS 102). structure, Govgrnan¢• and M8nagoment The charitable company is ¢onlrolled by the governSng document. the memorandurn and artlcles of the charitable cornpany, and Conslilules B charitable company limited by guarantee, as defined by thè Companles Act 2006. Th$re wera seven dlre¢tors who served durlng the year end seven in office at 31 December 2024 and th859 are 1181gd on the informBtlon page of thgse flnanaal stslements. The 9uardnlee of the dlreclors Is Ilmlted to £100 eoth whllsl they are a membèr and for fvrtlve month8 after Ce861ng 10 be 8 m8mber. Accordlng lo the Artl¢l*s of As8ocSatlon there must be a minimum of three directors wilh 8 maximum of e1Ve. Additional directors may be appolntèd by the exSstlng dlrèctors through a proce6s of the board meellng wllh prospective dir6clor lo assess their $ultability foi Ihe rol• laklng into consldèrallon tholr experi&nce and ¥kllls. a8 wèll as provldlng Inforrnallon about the wort of the charitable company. Upon appolnlmenl the new director 18 provlded with Inlormallon In¢lling prevlous statutory and quarterly ¢counts, mlnules of recent board meellng8. detalls of upcomlng charltablè company'8 events, and 5$ 0180 prov1ded wllh guldanc¢ documents produc•d by the CharSty Comml¥810n. Rl•k Managomant There ara tsyo malor rf6ks idenllfied.. r8llane8 on kay Indlv(duaS5 and of gift Inoom& belng Insuffic1 lo m88t &xpendilufe. These two rlsks ar¢ miligaled by carrying out documenlallon of 011 processedloperational delalls. by Ihe board recelvlng quarterly financial manag&ment reports, as well as the team contlnuing to address the Inerease ol gift income by addrtion81 fundraising and Increasing the tsupport base. ObJ8Ctl¥•s and Actlvltles The ¢harily's mission is lo proclaim Ine Gospel of Jesus Chrl$l, unlle tha church, and aetivale believers In evangelism. In 2024, wg saw slgnlffcant growth in our effort8, wilh successful fe81iva18, irnpacttul evangellsm Snlliatwes, and a continued exp8nslon of our global and local oulrea¢h. Vlslon The Luis Palau A550cialion'$ vlsion Is to unlte Ihe Church, proclalm the Gospel and transform dlies wo¥ldwlde. Publlc benafit: Tho dsre¢tors confirm that they have referrèd to the Ch8Tily Commission's specific guidance lo chartties on th• public benefit for the advanment of rèligion and wlll continue to do 80 when revièwing obleclive¥ and activilies as well a8 planning charltable a¢tivlties. The directors are nfIdent that enabling Christians and Christian Communllles lo sharè the love of God seen in the Ille of Jesus Christ, and in promoting the whole missiot) of th8 Christian faith wlll be for lh& benefit of many. The re8ults of this octivity are g spiritu81 blesslng of an inner Pea and gieater sens¢ of purpose In the lives of divhduals. and a harmony and reconciliatlon pro83 in families communities.
LUIS PALAU EVANGELISTIC TEAM (THE) DIRECTORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and Pèrfomance The aims olthe charity for 2024 were.. To proclaim thè Gospel across th¢ UK and Europè through festivals and evangelisrn teams. To unite local churches for collaborallve outreach. To equlp believers in pèrsonal Svangellsm and mobilize them for tsngoing mission work. Specific objèetjV85 Induded.. Delivering Festival TeessSdè, 8 large-scale outreach event. Latsnehing and supporting Evangelism Teams IE-Teamsl in key UK ¢llles. Expandlng our Gltsbal Network of Evangelists IGNEI. Enhancing our digital evangelism capablliljes lo complement in-per8on outreach UK & Europoan Festlval8 In 2024, we sucsSfUllY delivered Festiv81 Teessid& in partnershlp wllh over 70 local ¢hurch86 and mlnlslrlès. This f•$lival marked 8 significant mllestone In our trulreach efforts, and the 18-mtsnth campalgn leadlng up lo11 Saw u8.. Training over 10% of Tee88ide's Christian population In persortal evangollsm. H081ing 18 outrèach events and Inillaling 86 Alpha Courses. Reachlng over 30.000 people In person, wllh over 1,685 de¢l8ion8 for the Gosp&l. To ensure the conllnued mornenlum of the Gospal in Tee86ide, we launchod an EvangèliBm Team In January 2025 to plan for sustainable, long-l&rm evangellslic Irnpacl in the reglon. Th8 full Impaei Report of Festlval Teesside c9n be accessed onllne al hllps.'/llesllvalleesslde,comlle81ival-impact. L¢)okln9 forward lo 2026, we are exdlèd lo retum lo fran3, Albanla. W& will be hosllng 8 n?Ilonal f88tlvBI from 13-14 June 2025. following an invitatlon Irom a new generallon of Albanlan ehurch leaders. Despite the shorter bulld.up Ilme I188s than 7 month81. we aro commllled to maklng thi8 campaSgn a success. W8 are working closely wllh the Evangel11 Alllance of Albanla lo launch four &v¥ngelisrn iaams acro88 the nation as part of a long&r-lÈrrn Blr8legy for sustained Gosp•l outreach In Albanla. For the future, we are In advanced di8cu$slon8 about hosllng a lestlval In Cardiff In 2027 and have begun $xpIc>ring opportunities wllh church leaders In Dorsel for 8 festival in Poole in 2026 as w911 as olher ¢ilies and reglons across the UK and Europo. Clty Gospgl Movementg In addition to festlvals, our City Gosp*l Nfjovemenls 8re 8xperiencing significant growth. We currently have activè Ev8ngeli8m T¢am$ IE-Teamg1 in Liverpool, Teèsside, and Sheffield, and are working on plan6 for new te8m8 in several other gionS. For example, our Llverpool E-Team is aiming to traln over 1,WO people In personal evangolism as part of a large Easter oulrea¢h campaign in 2025. Followlng the Tirana Festlval in 2025, wè plan to launch four new evangelism lo$ms acrc185 the UK. We are also in ongolng conversations with over 15 clly unity groups In the UK, and lour of these are acllvely expltsring opportuniti8S to •$lablish evangell$m teams in theii are88. Global Network of Evangèlist In 2024, engaged wfth 122 evangelists acro#9 the UK and Europe, supporting them in their evangellsllc efft)rts. A key highlight was welcoming 9 new evangelists into the Global N8twork of Evangelists IGNEI. The GNE now has ov8r 3,500 members globally, strengthening our collects'v? ability lo carry out evangelistic mi&sions.
LUIS PALAU EVANGELISTIC TEAM (THE) DIRECTORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Dlgltal Evangellsm In 2024 we launched 8 dlgltal evangelism ¢ampaign following Festival Teessid8. which reached Over 44.000 people. The MpaIgn resulted in 178 decSsion5 for Chr151 and invited participant5 Its joln local Alpha Courses. This was the first lime we Incorpor8ted dlgitsl outreach alongside a Ilve festival in the UK, and it has been a powerfu5 tool for reaching people who might not havè aitended In-person events. We are also excitsd to Sha that te 2024. wtt recorded 8 powerful testimony from an Individual who experienced a neÈr-dealh encounter wlth Je8us. This lesllmony will form the basis of ourAutumn 2025 UK digital oulreach campaign, themed "From Death to Life." Thg campaign wlll 8hare how Jesu8 bring$ splrilual Ilfe to those who èncounter Him. Plan• for the Future12025 and beyond) In the comlng years, we plan to.. Con15nue the expansion of Evangelism Tegms IE-Teamsl In key UK & EuropÉBn cities. L8un¢h the Mrana FÈsllval In June 2026 and follow up with four ovangolism lèam5 acro$$Albanla. Host B full.sc8le festival In C¥rdiff in 2027. Dèvelop dlgital èvangellsm initiatives. inclu¢Jlng the From Dealh lo Life. campaSgn. * Expand Ihé Global Network of Evang8li$ts to support wort(fv41de ev8ngeli81ic èfforts. Conelu$lon We are deeply gralelul for th6 Support of our partner5, donor6, and volunle•rs, wh08e dedIlIon and commitment allow u¥ to carry out the work of Ovangellsm ocros$ the UK and Europè. As wt look ahead lo an excillng year In 2026 and beyond, wo arg confident that wllh God'g guid¥nce and your support. we will conllnue to see Ilves transformed through tho power ol tho Gospgl. Flnan¢lo1 Revltrw Thg aCUnts for Ihis year, and the ch8rflabl& company's finand81 po811ion os Bt 31 Dec8n*)or 2024 are 8hown In the attached fin8n¢l¥l stalemgnts. It Is the po11cy of the tharitsble company lo maintain unreslrlctèd funds Uhe free resgrve81. Thls 15 currontly sel by the dlreclors at £45,000 which is duly considèr8d lo be the amount required lo cover the eslimaled costs of closlng Ihg eJ)arity 11 Ihe neèd arose, ps well as meetlng the working capitsl requlrements of the tharlty. This pollcy Is r8Vi8wad annually by the board. Unrestricted funds Idonalions not restricted for a 6pecifie purpts89 by the donor, not induded In flxed a888ts gnd not deSnated by the board) as 0131 Dernber 2024 were £195,432 12023.. £93,420), lar exceeding the reserves pollcy 81 the yèBr end to be utilised In supporting the ongoing mini51ry in fulure yeafs. Auditors A regolution proposing that M T Mgnley & Co Llmiled be reappoted os audltors of the d)arllablg company wlll be put to member$ at a Gènefal Meetlng. Approvèd by order of tha board of directors on . .20Af8nd slgn¢d on if5 behall by Mr S F M Berry- Director
LUIS PALAU EVANGELISTIC TEAM (THE) STATEMENT OF DIRECTORS. RESPONS181LITIES The directors (who are also truslges of Luls Palau Evangelistic Team ffhe} for the purposes of charrty lawl are responslble for preparing the Directors, report and the financi81 81atemènls in accordance with applicablg law and United Klngdom Accounting Standards IUnil&d Kingdom Generally ACp1@d Accountlng PractKe}. The Charities Ad 2011 requires the directors to prepare financLg18lalem&nts for aach finandal yeai whlch glve a true and falr view ol the slala of affairs of the charitable Company and of the incoming resources and 8pplie8lion of r&80urc@s, Includlng the incorlle and &xpendilure, of th8 eharilable MpanY for that perd. In proparing these finanaal 8tslements, thè dlreclors are requlrgd to.. sele¢l 5ullabl8 accounllng p0cleS and then apply them eonsisl8nlly.. observe the rft&lhods and principles In Ihfy Charities SORP., make judgernenls and esi'mal88 that aro reasonable and prudent., prepare the financial slaloménts on the gc*ing concern bas18 unles$11 is Inapproprlat• lo presurne th81 the charlt8ble company will ¢onlinue In operation. The dlreclor8 are responslble fer keepSng proper accounllng records whlch di$¢l08e wlth reasonable acwracy 01 any timè the financial posillon of the charflable company 8nd lo enable them lo ensure thBt the financial ¥latem8nl3 compty with the The Charilles A¢1 2011, tho Charltlos and Trustee Investment Iscotlandl Act 2005 and tha Charlllgs A¢counls (Scotland) Regulations 2008 {85 amend$dl, They are also responslble for safeguarding the as8ei8 ol thè charrtabl$ company and hence for lakln9 re&8onab18 slep8 for tho prev8nlSon and delectlon of fraud and Qlher Irregularities.
LUIS PALAU EVANGELISTIC TEAM (THE) INDEPENDENT AUDITORS. REPORT TO THE DIRECTORS OF LUIS PALAU EVANGELISTIC TEAM (THE) Oplnion We have audiled the ffinancial ststemenls of LUIS PALAU EVANGELISTIC TEAM (The) (the '¢haritable company'l for year ended 31 DècembeT 2024 whlch comprlse thg Statement of Financial Aclivllles lincorpoTallng the Incom8 and Expenditur8 accounll. the Balance Sheet, note8 to Ihe financial statements includw)g significant occoUnng policies. The financkgl porting Irameviork that has been applied in their pparation is applieAble law and United Kingdom Accounting Standards, including Financial Reportlng Slandard 102 The Financial R¢porting Stsnd8rd appllcable in the UK and Republi¢ of Ireland (Unitèd Kingdom Genecally Ated Accounting Practice). In our opinK)n. the finand81 stalemenls: glve a true and lair vlew of the slate of the ¢hari18ble o)mpanV$ 8ffairs as al 31 December 2024 and ol 11$ incoming resourcès and application of resources Including ils Income 8nd expenditure, for the year then ended. have been prtsperly prepared In accordance wSlh United KSngdom Generally Accepted Accountlng Pr8Cticè', and have been prepared kn 8ccordanc& with the roqulrements of tho Componle8 Ad 2006, the Charfllas and Truste8 Investment (Scotlandl Act 2005 and gulatIon 8 of thè Charillos Accounts {ScotLondl Regulallon 20Ce. 8a818 for oplnlon Wa n¢lucted our audlt in a¢¢ordanc8 wllh International Sl8ndards on Aujlllng IUKI IISAB {UKII and appllcable law. Our re8ponslbllitles undor those standards are further descrl)ed In the Audilorfs respon$lbllltles for the audll ol the flnancial statements 8e¢tlon ol our report. We aré Indepgndenl of tho company In accordance with th¢ ethlcal requirgmenls that are relevant Io OUT audit of thè financial statement8 In the UK, Includlng the FRC'S ElhieAI Standard, and we have fulfllled our other 8lhlcal r8sponsibillties in accordance wllh these requlremgnts. We b¢ll8V¢ thot thg oudit evid0n we have oblalned 19 suffi¢Sent and appropflale lo provide g basis lor our opinlon. Conclu8lon$ relatlng to golng con¢om In audlllng thè financial statemen15, we hav0 concluded th81 the dSreclof8' U8e of tho golng concarn b8818 of accounilng in the pr8paralion of the financial statements 15 8pproprlale. 8a8od on the work we have perlormed, we hBve not idenlifled any material uncertainties relallng to events or conditions that, Individually or collecllvely, rnay cast $Ignifnt doubl on the company's abllily 19 continu& as a golng conrn for a period of at198St twelve months from when th& ffinan¢ial slalemenls are authoriBad for 188U&. Our responsibllilies &nd the responslbllitie8 of the (iirector8 wilh rèspect to going ncern are ¢Sbed In the relev8nt seclions of this report. Other Infomatlon olhèr Inforrnation compT18eS the information Sncluded in Ihe annuBI report. olhÈr than financlal ststoments and our audito¢s report thereon. The 1clOr8, are responsible for the other informallon contained wilhm) the annual report. Our opinlon Ihe financlal statemen15 does nol cover the other information and, excèpt to the extent otherwise explicilly stated in our roport, wè do not exprèss any form of assurancè cenclusion thereon. Our responsibility is lo read the oth¢r infoTrn8tion 8nd, in doin9 $0, consider whether any olher infomiatiori 16 m8terially inconsistent with Ihe financial Statements Jr our knowlEdge obtained in the audit, OT ott)etwi3e appears to be mal¢rially misslaled. If we Identify such material Incon$islen¢ies or apparent material misstatements. we are required lo determine wh¢er il glves rise to a material mi5slalefflenl wi the financial statements themselves. If. based on the work we have perfvrn*d, we conclude that there Is 8 materia5 mi$$tatement of this olher Inlomiation, we are required to report this fa¢1. We have nothing to report In this regard.
LUIS PALAU EVANGELISTIC TEAM (THE> INDEPENDENT AUDITORS, REPORT (CONTINUED) TO THE DIRECTORS OF LUIS PALAU EVANGELISTIC TEAM (THE) Opinlon on other matter pro8crlbed by the Companles Act 2006 In our opinion, based on the work undertakèn in the course of the Èudil.. the informalltsn given in the dir8Ctor8' report for the financial year for which the finallclal $lal&menls are prepared Is consislenl with the financial $lalemenls,' and the dirgctors, rfyport has been prepared Sn accordance wtth 8ppllcable kgal r8quirem¢n15 Matters on whlch we ar• requlred to report by exceptlon In the light of the knowledge and underslonding of thè charitabl¢ Company and It'8 environment obtalned in th& course of thè audit, we have not idenllled rnalerial misslalern6nls in th$ dlrector3' report. We h8ve nolhlng lo report in respéct of the followlng matters wherg the coMnIeS Act 2006 the Charllles and Trustèes Investmènt (Scollandl Act 2005 and Ihe Charities Accounts (Scollandl Regulallons 2006 r&qulres us 10 report lo you If, in our opinlon: have been propèrly prepared In ac¢ordan¢s th Unlled Klngdom Generally Accepted Accountin9 Practice,. and the 8ccounl$ a not in agreement wllh the accounn9 rècords., or certain disclosures of direcloT8' remuneration gp•¢ified by law are not madè., or we hove nol r¢celved all the Infoimauon and explanations we requlre for our audit. R88ponBlbllltl•$ of dlrg¢tor8 AS èxplalned more fulty In th8 dlreclors slalemenl of responslbllltles, the directors, wh¢ also a¢1 gs Irusteas for Ihe chaillabl8 acllvllle8 01 LUIS PALAU EVANGELISTIC TEAM (fhel. are responslble for the prgparaiion of thè aceounls and for being 88llBfled Ihal they give a true and falr vl¢w, and for 8u¢h internal control as Ihg dlreclors delèrmlne is necessary lo gnable the pr8p8ratlon of flnanGlal slalemenls thai are free from material mlsstalemont, wh8lh8r due lo fraud or grror. In preparlng the flnancial slalements, the dlreciors are respon$lble for 8sse8sln9 the charflable cOmpanS ablllty lo ¢onllnu8 as a golng concem ba816 tsf aceounling unle88 the dlreclors. either Intend to liquidale the charllabl& company Qr cease operatlons, or have no re&lisllc mea8urè altemollv¥ bul lo do 80. Audltor8 regpon¥lbllltle¥ for the audlt of the flnAn¢lal statements We have been apptsinled as auditor undgr se10n 441lllc) of the CharllS69 and Tw8teg Inveslm8nl (Scollandl Act 2005 and und&r the Comp8nles House Act 2008 and report in accordance with the Acts at rèlevant regulations made or havlng effect Ihereunder. Our obleclNes are lo obtaln aSonable assurance about wh8lher the financlal slalemenl8 as a wholè are free from materlal mlsstalemgnl. whether cjuè to fraud or error. and to 1g$ue an auditor's repcrt that Includes our oplnlon. R¢&8onable 8$surance Is a high rgvel or assurance bul not a guarantee that an audll conducted in accordance with ISAS IUKI will always delect a malefial missl8lemenl when11 exists. Mis$lal8ments can 8ri$e from Iraud or error and ar@ considered material if, Individually, or in the aggregate. they could reasonably be expo¢ted lo influence tho ¢¢onomic de¢i¥ions of users taken on the basis of Ihe8e financial statements. Irrpgularllles. including fraud ar& instances of non-complianc6 with laws ond regulations. We deslgn pro¢odures inline with our responsibllilie8 Outlined abcve. lo d&lect material rlli88lalemenls In respect of irregulaiilies includlng fraud. The extent lo whlch our procedures ar8 capable of detecting irregularities. including fraud, is detailed b81ow. We design our piocedur85 $0 as lo oblaSn sufficient appropriate audit eviden that the finanei81 Slalemenls are not materially mi551aled du& b non-cofftpliance with laws and regulations or du¢ lo fraud or error, We are not sponsIble for prgvenling non40rnplianc& 8nd cannot bg expected to delect non-compllance with laws and Tegulations- this responsibility liès with management wtih tho oversight of IhÈ directors.
LUIS PALAU EVANGELISTIC TEAM (THE) INDEPENDENT AUDITORS, REPORT (CONTINUED) TO THE DIRECTORS OF LUIS PALAU EVANGELISTIC TEAM (THE) Based on our undèrstsnding Df the chBritable MPanY and industry and discussions with management we identified ffinan¢ial reporting standards and Companies Act 2006 as having a direct effect the amounts and disclosures in the financial statements. As part of Ihè engagement team discusslon abtsut how and where thè companys financial statements may be materially misstated due lo (raud, we did nol idenllfy any 8re88 wlth an Increas8d risk of fr8ud. Our audlt procedures included.. enquiry of management about the ch8rilabl$ companvs policitts. procedures and related contro18 règardlng CC*mpliance with laws and rggulalions and if Ihere a any known instances of non-compliance 8XBminlng supporting documents for All materlal bBlance8, transactions and dlsclo8uro$ review of board of dire¢tors minute3 - enqulry of managemerht and review and Inspeclitsn of re18V8nl COrSpOndence with any legal firms evaluallon of the ¥eleCtn and applicallon of accountlng pollcie8 reIe to subjective measurements 8nd complex transa¢llon$ analytical procedure8 10 identify any unusual or unexpecl8d relallonships tèsting the approprlateness of loumal enlrles rocorded In the nomln81 ledggr And other adlustm8nts made In the prepBralion of thè linan¢lal Blalemenl# revlew of aGcouriling eslimales foi blases Qwing to th& Inherent limltatlons of an audll. there Is on unavoldable rlsk that 80m• m81orfal mlgstatsments of Ihe financi?1 statements may not be Iletected. even thouoh Ihe audll is properly plannod and perknrm8d In accordan¢& with the ISAB {UKI. Th8 polenti81 gffects of Inhgrgnt1Smltstions are p¥rtlculaty siqnSficanl in the case of misstalemenl re3ullSng from fraud be¢au68 fraud may Involve 80phlslicoted and cafullY organiz¥d Bchemes (Jgs1gned lo conceal it, Includlng deliberate f8iiur8 lo rocord Ir8nsactions, colluslon or Inltntlonal ml$repre$8ntallon$ belng made t¢ U8. A further descrlpllon of our r88ponslbi1111gs is avallablg on th& Flnancial Report5no Councll'$ web8118 al.. httpsjl wvM.frc.org.uklBudltor8re$ponslbllltle8. Th18 de8crfpllon form8 Part of our audltol8 report. of our report Thls report Is rn8d& soley to th¥ charltsble company's membèrs, 88 a body. In accordance wllh Chaptsr 3 of Part 16 of the Companies AGI 2006. Our audit work has been undertaken so that we mlght stste to Ihe tharftsbl¥ comp8ny's members IhDS8 mallets we afe required to state to them In Bn audiloTS reptsrt and no other purposa. To the fullèst exlont perrnitted by law we do not accept or assume responsibility lo anyone other Ihan the charitable company and the chari18ble Company's member¥, aB a body, for our audit work, for thi8 report, or for the oplnions we have formed. LN Graham Collin8 (Senior StaluloryAuditorl On behall of M r Manley & Co Llmitèd Iststutory Audltorl 696 Yardloy Wood Road BllleslÈy 81mingham 8130HY Dated= ..
LUIS PALAU EVANGELISTIC TEAM (THE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrictsd Restrl¢ted fvnd$ funds Total 2024 Total 2023 Notè$ Incomlng r¥$ourcèg from generated funds Donations And legades Investment Income 492.464 8,138 492,464 8,138 243,289 885 Incomlng resources from charitable acliviliè$ 600,602 500.602 277,818 244, 174 310,216 277.818 Total Ineomlng re8ourc08 500,602 277,818 778,420 554,390 Resources èxpended Co8ta of generating fund8 C0818 of gen8rollng donallons and lagacSeg 18.549 18.549 12,171 Net Incomlng r•8ourceg avallabl• 482,053 277,818 759,871 542,219 Charitable actlvi11è8 385,326 465.391 850,717 418,586 Governance ¢0618 12,340 12,346 10,770 Total r8sourc08 expended 416,220 465.391 881,611 441,527 Net Incomlnglloutgolngl r•8our¢eg b•for• transfers 84.382 1187,5731 1103,191) 112,883 Gr08$ tr8nsf8r8 b&lween funds 17.630 117,6301 Net Incomel{expendltur•l for the yearl Net movèment in fund$ 102,012 {208,2031 1103,1911 112,863 Fund balanc88 at 1 January 2024 93A20 205,203 298,823 185,759 Fund bo18nceB at 31 December 2024 195,432 195,432 298.622 The sl8letllent of financial oCtFvities g1$ts complies wllh the quIrernents for an Inme and expgndilure account under the ComponiesAct 2006. Al 8¢tivilieg of the charitable company are da$Bed as Gonunuing. Thore were no CogniSed gain8 or Jo8$98 other than those $hown above. The notes form part oflhè8e ffnandal slalamenls
LUIS PALAU EVANGELISTIC TEAM (THE} BALANCE SHEET AS AT 31 DEGEMBER 2024 2024 2023 Nots$ Fixed 8889ts Tangible assets 8,813 17,626 Currant asset8 Debtors Cash at bank and in hand 6.126 191,568 27.684 274,840 197,694 302.324 Cr•dltor8: amounts falllng duo Withln ono y•ar 111,0761 121,328) Net current aS8ets 186,619 280,996 Totsl 888•ts I• ¢urr•nt1Sabllllles q95,432 298,622 In¢om• fund$ Reslrlcted funds 11 205,202 Unrestrlded fund6 195.432 93,420 195,432 298,622 The company Is entitled lo tl)e exemptlon Irom the audll requ1rèmont contsined In sectlon 477 01 th• Comp8nles Act 2006, for Ihe year ended 31 Decembgr 2024. although an audit has been carr68d out und8r seclSon 144 01 the Charities Act 2011. No member of the company has deposited a nollce, pursuant to sectl)n 476, requlring an audit ofth&se a¢Unts UWbd8r the requirements ol the Companies A¢1 2008. The dSrectois a¢knowledg& theiT responslblllties for ensuring that tho company keeps accounNng r#cord8 whlch comply with secbon 386 of Ihe Acl and for preparlng attounls whlch give a true and fair vlew of the state of aff8lrs of tho company as at Ihe end of the fin8ncSal year and of ils incoming resources and application of SOurCes. including its income and expenditure. for thè financi91 year in accordRn¢e wlth thè cequirements tsf secllons 394 and 395 and whlch otherwise cornply wlth the requirements of the Companles Act 2006 relaung to a¢nts. so far as appllc8ble lo company. These accounts have been prepared in accordane8 wlth the special provisions relaNng to small comp8ni&s wlthin Part 15 01 the Comp8nies Act 2006. by the Board on ./.1. The a¢UnIS were appro Dlrector Company Reglstratlon No.
LUIS PALAU EVANGELISTIC TEAM (THE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting poll¢ies 1.1 Ba$1$ of preparatlon Luis Palau Evangeli91i¢ Team (THE) is o prlvate cernpany Ilmited by guarantoe incorporated in England and Wales. The registéred offic818 Unil 9 The Old Courtyard, Eckland Lodge Busltless PaTk, Market Harborough. Leicestsr8hire, LE16 8HB. The financlal 8tatemènls of the charitable company, whl¢h Is a public benefll entity under FRS 102. hav? been prepared in accordance with the Charllles SORP IFRS 102) "Ac¢ounling and Reportlng by Ch8rilles.' Stalèmenl of Recommended Practice bppllcable lo charflles preparing their accounts in accordanc8 with the Flnancial Roporting Standard applicable in the UK and Republlc ol Ireland IFRS 102118ffective 1 January 20191., Financial Reporting Standard 102 "The Financial Reportlng Slglldard appllcable In the UK Bnd Republic of Ireland" atMI the Companies Act 20Q6. The accoun18 have been prepared undar the h151orf¢al CO81 conventlon. The Ilnancial sl8lemenls are prepared in st8rllng, whi¢h18 the funcllonal ouriency of the chartlable company. Monetary amgunl8 In fhe financial 8latemenl$ ara roundgd to the ne8r881 £. 1.2 In¢omlng r•sourc•s All Incom8 5$ recognlsed In Ihg Slalemenl of Fln8n¢lal Actlvlllès once the charity has entitlemonl lo th8 funds, 11 1$ probable that tho Incomo wlll be received and th$ amount c&n be rr&asured rellably. 1.3 Rè8our¢•B oxp•nd$d Liabllltles are racognlsed as expendllure 88 Soon 86 Iharo 1$ a legal or ¢on61rucJve obllgallon commlttlng the charity lo that exp&ndllure, il Ss probablè that a Ironsfer of 8eonomlc benefits will b¢ requlred Sn 8ettlemenl and the 8rn0unl of the obllgalion can be measured rellably. Expendllurè inclusSv? of VAT, is 8¢counled lor on an 8ccru819 basis and ha8 been cla651fled under headlngs that aggregate all ¢o$l related lo the category. Whem costs connot be dlrèclly altrlbuled lo partlculor headings, they have b$en allocated lo aclivllleB on basts con6161enl with thg u89 of resource8. 1.4 Tanglbl• Ilxed a89•ts Ind d•prerlatlon Tangiblo fixed assets are 8laled al cosl18$$ deprlatIon. 08predallon is provided al ralej lcUlated lo wrfte off tha ¢081 less eslima18d residual valuè ol each asset over ils ¥xpected useful Ilfe, a8 follows.. Motor vèhlcles 25% on ¢081 1.5 Lga81ng and hlra purcha89 ¢ommltment$ Rantals applScable to operating leasa$ where subslanlially all th8 benefrt8 and risks of ownar¥hip remaln wlth the le9sor are charged against profits on a straight line bos55 over the ppiiod of the16ase. 1,6 P•nslons The charitab18 eE)mpany ¢Jper81es a defined contrlbullon pension 8cheme. Conlrfbulions payable to the tharFtable ¢ompany'9 penslon 8chgme are ¢harged lo the Slalement of Fln8n¢ial Actlvllles In the perfod lo which they relate. 1.7 Aecumulatad funds Unrestricted funds - th888 are fvnds vh7i¢h can b8 used in acGord8nce wrth the Charitable obj8CtIv8s 81 Ihe dl8cretion of the tru$tees. Reslricted funds the8È are fund$ whlch can only be used for particular restri¢d F)urposes wllhin the objects of the charity. Restrictions arise when specified by the dtsnor or wh8n lunds are ralsed for particular restricted purposes. Designated fvnds- Ihw are funds sel aside by the directors from unrestricted funds for specific puipo888 or proiecl5. 10
LUIS PALAU EVANGELISTIC TEAM (THE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ounting pollcle8 Icontlnuedl 1.8 Taxation Thtt charity Is exempt from eorpofatlon tax on its charitsbl$ aclivilles. 1.9 Golng ¢oncem The dSreclors have assessed whelher the Lsse of the goSng concem assumption Is appropriate In PTep8ring these finartcial ststemenls. Th8 directors have mode thi$ assessment with respect lo a period of one year from the dale of approval and 8ignature of these financial statements. Thé directors have condudèd that theTè are no malarial uncertainties relateil to events or condbtion$, th81 may ca$1 significant doubt on the obilily ol the ¢horitable company to rontknue as a going concern during this period, (see a150 the dir¢¢tors' rewrt underAchievemenls performance 8nd futuro plans.) The dliectors ore of the opinion that Ihè tharilabl$ company wlll have sufflcianl resour¥ to meet Its liabilllles as they fall due over Ih55 period, 18klng into account ongolng d¢nallons trom Portland and Ihg preg8nl cash r880urco$ of thè charitable company. 1.10 Flnonclal In8trum•nt8 The charllable Lyjmpany has elgded to apply Ihtr provlsions of Sectlon 11 'Basic Fknanclal Instrunts, and Sectlon 12 '0ther Flnancial In8truments158uès' of FRS 102 to all ol ts financial Inslrumants. Fln8ndal In$lrum8nts are racognised In tha companvs balanc8 8hoel when Ihè eompany becomes paty to Ihg conlraotU81 provlsions of the Instwmenls. Flnanclal 8$sets and liabllilles ar? offgel, wilh the nel amounts pras¢nted In the financial stat¢monts, whgn there 5s a legally enfc&rTrable rf9hl to sel off thè recognlsed amounts and there 58 an intention to sellle on not basls or to re81ise the asset and settle the liability simultaneou81y. Donatlons and lègacl88 2024 2023 Donallons and gifts 492,484 243,289 Inv8stment Incomè 2024 2023 Irbtèresl re¢elvablè 8,138 885 Incomlng 18sou•S from charltable actlvltiès 2024 2023 Mission costs recovered 277,818 310,216
LUIS PALAU EVANGELISTIC TEAM (THE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2024 Directors Tho director8 recelved no rèmunerallon, bènefits or $xpense$ In the year ended 31 Dec8mbÈr 2024 (2023.. Employ•e8 Numbprofemployee8 Thg 8verage monthly number of employee8 during the year w8S'. 2024 Number 2023 NuTnb8r Employment ¢o•tJ 2024 2023 Wages and Balarl¢s Soclal security cost8 Othèr pen8ton costs 289,889 23,330 17,875 240,908 20.714 16,854 301,074 278,278 On• •mployè& re¢Ved omoluments In •x¢e88 of£80,WO. Tanglblfr fix•d a$8•t• Motor vohl¢l•8 Cost At 1 January 2024 and at 31 D9mber 2024 46.250 DepreclatFon Al 1 January 2024 Charge for the year 27.625 8,812 At 31 Dacember 2024 38,437 Net book value At 31 Oecembèr 2024 8.813 At 21 December 2023 17,626 12-
LUIS PALAU EVANGELISTIC TEAM (THE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Debtorn 2024 2023 Trade debtors Other debtors 6.125 27,685 Credltorn.. amountB falllng duè wlthin one yèar 2024 2023 Trade creditors Other creditor$ Accru81$ 6,774 5,301 7,894 1.874 11,560 11,075 21,320 10 Pen•lon and other po#t-r•tlrernènt ben•flt commltm•nt8 The charltablo company op¢rote8 a defflned tributIOn p8n$lon Schemè whose 8s8ets are held Separatèly from those of the eharltabl8 company. The charitable MpanY Incurr8d cos18 of penslons in the year of £16.654 (2022,. £15,693) wlth nothSng outslandlng lo Ihe penslon fund al the year end12022.. £NIII. 11 Restrlcted tund• Th? Income lunds of the ¢harlty Include restCted lund8 comp¢l8lng Ihe followln9 unexpended balonces of don811ons and grants held on Ifust for sp$dfic PUTpose8'. Movement In fund8 In¢omo Expen888 Tran8fern to Balanco at 31 closeD•Gembor 2024 Balan¢• at I January 2024 Mission events City G08pel Movement$ Global NeOrk ol Evangelists Festivals 16,905 5,417 917 181,965 116.9051 15.417} 19171 5,609 277,818 {465,392} 205.203 277,818 1465,3921 117,6301 A$ of the end of thè 2023 financial year, the decision was made to declassfy all PDX income and expèndituro to gètheral unreslricled funds, leaving the Only movement on Te$tricted funds as the Fe¥lival Sncome and expen(IKure in 2024, whlch was fully used up by the 31 De¢¢mbeT 2024. 13-
LUIS PALAU EVANGELISTIC TEAM {THE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Analy¥ls of net ass•ts bètween funds Total Fund balances al 31 De¢embet 2024 are represented by.. Tangible fixed assets Cuffent ass8ts Credilor$.' amounts lallSng due wlhin on8 year 8,813 197,e94 {11,0751 8,813 197,694 111,07S} 195,432 195,432 13 Relatod p4rtt09 Busln8s$es Ihal share ono or more of the dlrèdorB ofthe company made donallon8 of £5,000 In tha yoar. 12023.. £5.0001 Dlreclor8 donatéd a lolal of £14,500 In the y&ar12023.. £14,300). 14-