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2025-09-30-accounts

WORLD VISION UK Trustees’ report and accounts for the year ending 30 September 2025

OUR VISION FOR EVERY CHILD, LIFE IN ALL ITS FULLNESS;

IMAGE ON FRONT COVER

Laila, holding her son, Arjoma who is now at a healthy weight thanks to knowledge gained from a Nurturing Care Group in Ethiopia. © 2025 Jon Warren/ World Vision BELOW IMAGE Children waving outside their school in Ethiopia. © 2025 Amy Van Drunen/World Vision

OUR PRAYER FOR EVERY HEART, THE WILL TO MAKE IT SO.

Message from our Chief Executive ���������������������������������������������������������������������������������������������������������������������������� 3

Message from our Board Chair �������������������������������������������������������������������������������������������������������������������������������������� 5

Contents Page continued overleaf »

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STRATEGIC REPORT

Who we are ������������������������������������������������������������������������������������������������������������������������������������������������������������������������������� 7 Our strategy ����������������������������������������������������������������������������������������������������������������������������������������������������������������������������� 8 Our impact, thanks to our supporters ���������������������������������������������������������������������������������������������������������������������� 9 Our emergency response in 2025 ��������������������������������������������������������������������������������������������������������������������������� 17 Our commitment to safeguarding ��������������������������������������������������������������������������������������������������������������������������� 19 Inspiring giving ��������������������������������������������������������������������������������������������������������������������������������������������������������������������� 20 Fundraising responsibly statement ������������������������������������������������������������������������������������������������������������������������� 21 Driving change for children: Advocacy and policy impact ������������������������������������������������������������������������ 23 Our plans for the year ahead ��������������������������������������������������������������������������������������������������������������������������������������� 24 Finances at a glance �������������������������������������������������������������������������������������������������������������������������������������������������������� 25 Five-year finances ������������������������������������������������������������������������������������������������������������������������������������������������������������ 26 Financial review ������������������������������������������������������������������������������������������������������������������������������������������������������������������ 27 Corporate structure, governance and management ����������������������������������������������������������������������������������� 32 Our people and culture ��������������������������������������������������������������������������������������������������������������������������������������������������� 39 Environmental stewardship ����������������������������������������������������������������������������������������������������������������������������������������� 41 Statement of Trustees’ responsibilities �������������������������������������������������������������������������������������������������������������� 43 FINANCIAL STATEMENTS Statement of financial activities ������������������������������������������������������������������������������������������������������������������������������ 45 Balance sheet ���������������������������������������������������������������������������������������������������������������������������������������������������������������������� 46 Statement of cash flows ���������������������������������������������������������������������������������������������������������������������������������������������� 47 Notes to the accounts ��������������������������������������������������������������������������������������������������������������������������������������������������� 49 Auditor’s report ������������������������������������������������������������������������������������������������������������������������������������������������������������������� 70 Trustees, principal officers and advisers �������������������������������������������������������������������������������������������������������������� 74 Join us ���������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������� 75

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MESSAGE FROM OUR CHIEF EXECUTIVE

It is fair to say this past year has been unprecedented – one of great challenge globally for the sector, here at World Vision UK and for those whom we serve� We could not have foreseen so much change and challenge in a single year�

Dramatic cuts to international aid abruptly disrupted our plans, forcing us to shift many of our priorities. We have adapted to remain relevant, purposeful, and responsive to the increasing vulnerabilities of children around the world.

During a visit to Malawi this year, I experienced first-hand the great extent to which children’s lives are impacted daily by the decisions made around the world. Despite this, I was encouraged by what I saw while visiting one of our sponsorship programme areas. The experience and compassion of our staff, the engagement and dedication of communities to make the change, and of course, the joy and courage in the eyes of the children I met gave me hope. Children like four-year-old Trinity, who can attend school, learn her rights and play in a safe environment. She and her friends receive a daily free school meal, allowing them to stay in school and learn, thanks to World Vision.

Against such a challenging global backdrop, it is with even deeper gratitude that we celebrate all we have accomplished. Last year we reached over 3.3 million people directly in 35 countries, of whom 1.8 million were children. The wider impact of our work reached an estimated 7 million people, including 4 million children.

We are ever grateful – and never more so than this past year – for our committed supporters, partners, donors and sponsors who continue to give, advocate for and pray, making a lasting difference. Whether through committed child sponsors, blossoming long-term church and festival partnerships, extraordinary kindness via legacies or unwavering support from our loyal philanthropists, we have seen great generosity in both spirit and action. In addition, we have continued to expand our institutional net, raising funds from a more diverse and, often, more competitive and complex network of donors.

ABOVE IMAGE 129 children are now being sponsored in Senegal. © 2025 Ben Adams/World Vision

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Our total income for the year was £66.1m, compared to £66.7m last year. In a year of dramatic reductions in global aid, this is both significant and encouraging. We continue to be so grateful to all those who ensure we can continue to serve children around the world. In particular, we acknowledge and thank our staff, both past and present for their resilience and understanding as we navigated the need for considerable cost reductions this year. We honour your effort, your commitment to our cause and the impact you have had.

Our teams have continued to respond when crises have arisen: from Myanmar and Afghanistan to Sudan and Bolivia, when disasters happen, we are there, bringing immediate life-saving support. Together, we reached 2.8 million people, half of whom were children, across our emergency responses in 29 countries. At the same time, we raise our voice and amplify those of children, telling their own stories. This year, we were delighted to share vital media coverage highlighting some of the global issues we are responding to. However, many ongoing needs go under the radar, and we will continue to work hard to shine a light on injustice where children suffer the most.

In addition, we were excited to launch a new fundraising strategy, providing vision and clarity on how we will achieve our ambitious growth goals. Entitled Bold Hope, this strategy puts child sponsorship at the centre of who we are and how we sustainably grow our impact.

Through all the challenges we face, as I am so often reminded, we are a light in the world, and we serve a God who is faithful. Thank you for the part you have played in transforming lives around the world this past year. We look forward with expectation to all that we will achieve this coming year and thank you in advance for the part you will play as champions for children.

Fola Komolafe MBE Chief Executive

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MESSAGE FROM OUR BOARD CHAIR

World Vision is celebrating that, for 75 years, we have been protecting and caring for children and those in need. From our founder Bob Pierce giving the last $5 in his pocket to care for an abandoned Chinese girl to our current focus on the world’s most vulnerable children, World Vision has become the largest Christian international NGO, working in nearly 100 countries worldwide.

Our global strategy is our firm promise to the world’s most vulnerable children, transforming lives in the world’s hardest places, empowering every girl and boy to reach their God-given potential. This drives to the very heart of our vision statement: ‘Our vision for every child, life in all its fullness. Our prayer for every heart, the will to make it so.’

During my nine years on the World Vision UK board, I’ve seen the transformational impact of our development model. We engage with communities on the challenges facing their children, and design long-term programmes and interventions that are relevant to their needs – an approach that gives us a long-term presence in communities, enabling us to respond quickly to emergencies because we are already there.

I had the privilege of joining peers from across the World Vision Partnership at our Triennial Council in Mexico City in November. We looked back at achievements and challenges overcome since 2022 as well as over our 75-year history. We explored innovations being adopted across the partnership to drive better outcomes for children and affirmed our commitment to keep children at the heart of all we do. But the most memorable aspect of the Triennial Council was hearing from several Mexican young people on the challenges facing them and peers across the world. We heard two consistent themes: violence and climate change, both the reality and the fear. The young people were inspiring as they spoke about their leadership and impact in their communities, but challenged us too, asking what we are going to do?

My commitment is to keep amplifying the voices of children and responding to what I hear. While my term as Chair concludes in May, I have no doubt the World Vision UK board will continue doing likewise.

Fola Komolafe, in her CEO report, highlights the results achieved during challenging circumstances. I wish to thank Fola, her leadership team and all the staff for their dedicated service during the year. The impact we achieved for children is due to their effort and the generous support of our donors, partners and supporters, without whom none of our activities would be possible. Thank you to everyone who has supported our work over the past year.

Finally, thank you to all my fellow board members who give their time voluntarily to support this work, to Andrew Darfoor who has supported me as Vice Chair and will become Chair in May, and a particular thanks to Catherine Taylor who left our board recently after five years’ service.

Douglas Millican

Board Chair

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IMAGE Davith, 9, a sponsored child in Cambodia, can now attend the local school and dreams of becoming a nurse one day. © 2025 Dara Chhim, Ben Adams, Elissa Webster/World Vision

A detailed look at our objectives and achievements for the financial year ended 30 September 2025, and our objectives for the coming year�

WHO WE ARE

We stand with children facing the most difficult circumstances around the world� We partner with children, their families and their communities so that, together, they can overcome poverty and experience life in all its fullness� Inspired by our Christian faith, we work alongside children – of all faiths and none�

World Vision UK is part of the World Vision Partnership, the largest Christian international children’s charity in the world. Founded in 1950, World Vision celebrated 75 years of serving the world’s most vulnerable children this year. We have vast experience of working alongside communities and partners to take hold of opportunities which will transform children’s futures, whatever their circumstances.

This takes true partnership – with community leaders, local organisations and families themselves, as they highlight their needs and set their own goals. This integrated way of working equips and empowers communities to sustain progress and accelerate impact, long after we’ve left.

Our local staff are present in almost 100 countries, so when disaster strikes, we are often already there. World Vision provides immediate emergency support. But we also stay – long after the headlines fade – helping children, families and communities to recover and rebuild their lives.

Within the UK, we continue to be champions for children. We raise awareness of the issues facing children in the toughest places in the world and provide ways for children and young people here to speak out on the issues they care about. We offer the public opportunities to engage with global issues at a local level, and to help create change through giving, campaigning and praying. And we engage directly with government to influence changes that will improve the lives of the children we serve and the next generation.

ABOVE IMAGE World Vision drivers in Ethiopia enable vital programmes to take place. © 2025 Jon Warren/World Vision

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OUR STRATEGY

The World Vision Partnership strategy “Our Promise” is a commitment to children living in the world’s hardest places that we will relentlessly pursue. By inspiring people in giving, in prayer and in campaigning for change, we seek to enable children to experience life in all its fullness, now and in the future. The children we serve face ever greater risks. The number of children in the world is now at a peak and climate change is increasing vulnerability for millions. More children are living in areas of intense conflict and displacement of children is at a record high.

We are committed to supporting these children, their families and communities toward a more hopeful future. World Vision UK’s ambition is to increase our impact by significantly increasing our income and the proportion of it that we spend on directly supporting children living in the most difficult and dangerous places.

By 2030, we aim to reach 5.5 million people annually (including 2.75 million children), helping to:

Thanks to the generous support of individuals, churches, corporate partners and grant-making institutions here in the UK, and our many partners overseas, we’ve delivered significant impact in our charitable programmes. We have maintained progress in our strategy to serve our audiences better and to invest in digital solutions to improve our effectiveness.

Our strategy identifies the following key priorities as critical for success:

  1. Embedding ‘fundraising first’ as a culture and practice across the organisation.

  2. Strengthening our brand by amplifying stories, partnerships and impact.

  3. Achieving efficiencies through innovation and integration.

  4. Transforming our culture by making positive changes to ways of working, mindsets and behaviours.

In a year of significant change, our strategy remained steadfast, yet our focus deepened to ensure a healthy and thriving organisation. Our need to increasingly prioritise stability of income coupled with staff support, organisational transformation and business continuity was at the forefront of decisionmaking, positioning us in the strongest possible way as an organisation fit for the future.

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OUR IMPACT, THANKS TO OUR SUPPORTERS

Last year we reached over 3�3 million people directly in 184 projects in 35 countries, of whom 1�8 million[1] were children�

We reached 2�8 million people, including 1�4 million children, as part of our contribution to World Vision’s emergency responses across 29 countries�

The wider impact of our work, reached an estimated 7 million people, including 4 million children�

The humanitarian crises we responded to in 2025 were driven by interconnected forces – conflict, climate shocks, economic instability, pandemics and displacement. These factors amplify each other, creating cycles of vulnerability that no single intervention can solve. Some disasters require immediate life-saving assistance. But it’s also critical to invest in integrated, resilience-focused solutions that can break these cycles, protect lives and deliver long-term impact.

We supported more emergency projects, reaching more people in crisis this year than last year. This is an impressive result during a year of funding cuts and sector turmoil, demonstrating the commitment and resilience of our frontline responders. However, we reached fewer people in our longer-term development programmes because of budget reductions and significant shifts in the broader funding environment.

On the following pages, we look at where and how we reached vulnerable children, before presenting stories from Zambia, the Democratic Republic of the Congo (DRC), Burundi and Afghanistan, demonstrating the impact of community ownership, resilience and sustainability in reducing vulnerability. We also show the range of our work in humanitarian settings.

This year, the World Vision Partnership was audited by the Humanitarian Quality Assurance Initiative (HQAI), an independent auditor for the humanitarian and development sector – a great opportunity to receive feedback on our work as we seek to continually improve it. We are proud to have had our certification against the HQAI Core Humanitarian Standard independently verified and renewed.

A significant milestone this year was World Vision UK’s joint hosting of NOURISH: A Global Youth School Meals Dialogue – a youth-led digital event that platformed the voices and recommendations of young leaders from 12 countries.

1 Girls and boys were represented evenly – girls 50.3% and boys 49.7%

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REACHING THE MOST VULNERABLE CHILDREN IN PLACES OF GREATEST NEED

----- Start of picture text -----
1%
Medium
Developing
----- End of picture text -----

In 2025, 57% of the children we reached lived in fragile contexts[2] – a proportion that has more than tripled since 2016. Our programming focuses on places where conflict is present, governance is weakest and civil society organisations are under immense pressure. These are the places where children are at the greatest risk of harm – where education is disrupted, food can be scarce, and threats like child labour and child marriage loom large. The countries where we reached the most children were Syria, Afghanistan, Somalia, Zambia and DRC.

----- Start of picture text -----
15%
Low
Developing 57%
Very Low Most
Developing Fragile
27%
----- End of picture text -----

We work across various sectors to support vulnerable children. This chart shows the percentage of the children we reached (outer circle) through each sector, with the total on the inside circle, for comparison. This provides a high-level view of what we do. However, all our work brings together different sectors and evidence-based project models. Many of those we reached through our longterm programmes and emergency responses will have benefited from interventions in more than one of these areas.

----- Start of picture text -----
Disaster Mitigation
and Preparedness
(includes Shelter)
Education
4% Water
6% Sanitation
Child and Hygiene
Protection 4% 4% (WASH)
6%
26%
6%
27%
Community
Engagement 8%
and Sponsorship 9%
11%
11%
Livelihoods,
Food Security 21%
and Environment
19% 20% Nutrition and Food
(including Food
Distributions)
18%
Health
----- End of picture text -----

2 World Vision International categories: High 0.2%: Mongolia, Medium 0.3%: Bolivia, Ecuador Low 15.1%: Zimbabwe, Kenya, Jerusalem, West Bank, Lebanon, Nepal, Bangladesh, Rwanda, Ghana Very low 27.1%: Zambia, Sierra Leone, Mozambique, Malawi, Uganda, Ethiopia, Niger, Burundi, Burkina Faso. Most fragile 57.0%: Syria, Afghanistan, DRC, Somalia, Sudan, South Sudan, Myanmar, Central African Republic, Mali, Ukraine Crisis Response (including Moldova and Romania). Self-funding 0.3%: Mexico

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HOW DID WE REACH THE MOST VULNERABLE CHILDREN?

A child is regarded as being “most vulnerable” when they experience two or more of the following categories of vulnerability: serious discrimination, extreme deprivation, abusive relationships or disaster�

The “Responding to disaster” section (page 17) in this report indicates how we reached children and communities in disaster responses. Firstly, we summarise a broad range of achievements in our Area Programme portfolio, reaching almost half a million people last year.

As a result of our Area Programmes in 2025:

Over 100,000 children have a greater chance to thrive thanks to improved learning environments, school supplies or literacy interventions across 21 programmes. Over 1,000 teachers and facilitators were trained in literacy, early child development or school management, and 22 classroom blocks were constructed or rehabilitated, with improved school latrine blocks and handwashing stations.

Over 50,000 children are safer through our child protection interventions, including reporting and referral systems. Over 100 early marriages were prevented, over 2,000 children received birth certificates and over 20,000 children participated in clubs, parliaments and advocacy on child rights. Over 1,000 trained faith leaders promoted child protection, gender equity and positive parenting, while over 2,000 children with disabilities accessed therapy, assistive devices, inclusive education or medical support.

Over 26,000 children took part in youth clubs and camps, following a syllabus focused on personal and spiritual growth, the love of God and loving one another.

Over 50,000 children are growing up healthier as a result of nutritional growth monitoring, immunisation and health education. We worked closely with communities, where over 3,400 children fully recovered from malnutrition. Tens of thousands of children are now fully vaccinated.

Over 100,000 people gained access to safe water through new boreholes, water points and school facilities. With communities we built thousands of latrines and handwashing stations, while our hygiene education reached tens of thousands of people, improving hygiene and sanitation habits, as well as menstrual hygiene management.

Over 10,000 households are more economically secure after receiving livelihood and business support or agricultural inputs. We’ve set up over 1,000 savings groups, strengthening financial security for tens of thousands of members. Over 1,000 ultrapoor households graduated from the training programme. Climate-smart agriculture is widely adopted in multiple programmes, strengthening food security and resilience, while thousands of households were trained in disaster preparedness and early warning.

All these achievements represent the work of staff and communities, including children� We received over 10,000 pieces of community feedback, with response rates above 90% in most programmes�

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KEEMBE AREA PROGRAMME 2003–2025: A STORY OF RESILIENCE, PARTNERSHIP AND TRANSFORMATION

Two decades ago, Keembe in Zambia was an area marked by deep poverty, limited infrastructure and widespread child vulnerability, where with 96% of households surviving on under $20 monthly� Access to clean water was scarce, health services were inadequate and education infrastructure was crumbling� Children faced high risks of neglect, exploitation and child marriage, while literacy and school attendance were alarmingly low�

ABOVE IMAGE Blessings, 10, with his friends and aunt, who is a child protection teacher. © 2025 World Vision

Working closely with local authorities, parents, community leaders and children themselves, the Keembe programme focused on six key areas: livelihoods, health, education, water and sanitation, child protection, and family relationships. Today, the area is transformed.

“My aunty is a child protection and Sunday school teacher� She likes teaching us good behaviours and tells us to love one another� Previously I used to fight with friends but now I have stopped�” – Blessings, 10

Over the programme’s lifetime, we’ve achieved significant improvements in education:

More children can thrive thanks to child protection measures:

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Increased resilience in Keembe Area Programme communities

The programme adapted swiftly to crises such as the Covid pandemic, the 2024 cholera outbreak and El Niño climate impacts. School feeding programmes kept children in class, over 100 savings groups supported household resilience, and farmers were trained in climate-smart agriculture to protect food security. At the closure of the project, 86% of households had at least one adult earning an income, compared to 48% at the start of the programme.

Our learning

Children’s learning and protection in Keembe thrive through strong local partnerships among families, teachers, community leaders and volunteers. Their collaboration has created safe, inclusive spaces for children to learn. Sustaining these achievements requires ongoing investment in teacher training, inclusive education and child protection awareness. Community-based reading camps foster a love of learning, while continued dialogue with local leaders helps challenge harmful practices and promote gender equality. Community ownership and engagement remain essential for lasting impact.

REACHING OUT-OF-SCHOOL CHILDREN: SUSTAINING INCLUSIVE EDUCATION IN DRC 2023–2026

In the Kasai region of DRC, health crises, poverty and fragile infrastructure often disrupt education. The four-year AXE-FILLES project, funded by the UK Foreign, Commonwealth and Development Office (FCDO), is supporting children, particularly girls and children with disabilities, to enrol in school. One hundred women from local organisations and people with disabilities led a door-to-door campaign to encourage school enrolment. Their efforts reached 4,500 households and helped refer 654 out-of-school children (389 girls and 265 boys) into formal education.

These community-led campaigns are shifting norms and building local ownership of education outcomes. This commitment to inclusion goes beyond enrolment. For older girls who have missed years of schooling, the project provides vocational pathways that restore dignity and create economic resilience, critical for sustaining education gains in fragile contexts.

In 2025, the resurgence of Ebola in Mweka and Bulape tested the project’s resilience – but thanks to strong local partnerships, the project adapted quickly. Teachers were trained in disease prevention, hygiene kits were distributed, and radio broadcasts reached thousands with life-saving information.

At the heart of this resilience is the project’s investment in people, enabling a shift from aid to agency. Village savings groups initially supported by the project are now independently run by trained village agents. Their 2,246 members – including single mothers – continued to meet weekly, using their savings to buy school supplies and cover fees.

In 2025, we expect to reach over 11,000 children through community-based catch-up clubs – an adaptable approach designed during the Covid pandemic, which aims to help children to return to education following a crisis. Over 44% of participants reached the two highest reading levels. Facilitators trained in different teaching approaches are not only improving literacy but also building a model that schools can replicate beyond the project’s lifespan.

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Martine’s story

Martine, 17, had to leave school to care for her younger siblings after the loss of both parents. With limited options and no access to formal education, she felt uncertain about her future – until the project offered her a new opportunity.

“My life has changed, it is no longer the same,” she says� “I received training in tailoring and dressmaking� I am now part of a cooperative where I earn a small income that allows me to support myself and help my younger siblings�”

Our learning

This project shows how sustainable approaches are possible in fragile contexts. By combining education access with livelihood opportunities, the project has re-engaged out-of-school children and equipped them to succeed, reducing the risk of dropout and reinforcing sustainability at household and community levels.

AFGHANISTAN: LOCAL PARTNERSHIPS OFFERING HOPE AMID CRISIS, 2023–2026

Afghanistan is facing one of the world’s most severe humanitarian crises. Decades of conflict, natural disasters and economic collapse have left millions struggling to survive. Climate shocks and drought are worsening the water crisis, while restrictions on women and dramatic funding cuts have gutted essential services.

Against this backdrop, World Vision UK is leading the DAWAM (Driving Action for Wellbeing to Avert Mortality) project, funded by the FCDO. Working alongside four international and three national NGOs, we’re bringing life-saving support to vulnerable communities across seven provinces. Together DAWAM partners are tackling illness, mortality and malnutrition and so far have:

The past four years have brought unprecedented uncertainty. Intensifying restrictions on women and mounting bureaucratic hurdles are eroding hard-won progress, particularly for women-led organisations. In this challenging context, DAWAM is equipping local organisations to lead.

Local organisations have unparalleled access to women and remote communities, yet they often lack resources, training and long-term funding. DAWAM is rebalancing power and fostering genuine collaboration that equips local organisations to lead. To date, over 272,000 people have been reached within the project.

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Championing locally led projects

Nai Qala is one of the Afghan NGOs involved in DAWAM, leading the design and delivery of two major water construction projects. Through coaching and workshops, DAWAM supported Nai Qala to improve its technical capacity and governance. “For the first time, we sat alongside other organisations as equals,” says Taiba Rahim, Nai Qala’s president. Today, colleagues at Nai Qala feel more confident, resilient, and ready to lead future projects.

ABOVE IMAGE Women-led organisations and inclusive dialogue is having profound effects in Daikundi province, Afghanistan. © 2025 World Vision

“For the first time, we sat alongside other organisations as equals�” - Taiba Rahim, president of Nai Qala

Our learning

DAWAM shows that localisation works. Localisation and equal partnerships – built on trust, flexibility and open dialogue – mean faster implementation, stronger governance and deeper community trust. Next steps include scaling up successful approaches to health and water projects and strengthening local NGOs’ resilience. While challenges remain, such as improving communication and greater involvement in design processes, it’s a model that can be shared across the humanitarian sector.

EDUCATION AND RESILIENCE IN BURUNDI, 2022–2025

The Komeza wige (Keep Studying) project set out with the mission to keep education alive for the most vulnerable children in Burundi. Funded by Education Cannot Wait, the global fund for education in emergencies, the project was implemented by World Vision together with UNICEF and two local organisations. It targeted children with disabilities, out of or at risk of dropping out, those who are displaced or returning home after conflict, and those living in communities hardest hit by war and disaster. The project focused on enabling children to access and continue their education, improving the quality of learning, and strengthening the education system.

One of the most transformative components was the introduction of the home-grown school feeding programme in Makamba province, in partnership with the World Food Programme. Makamba is a region that suffers greatly from acute malnutrition, undermining children’s ability to learn effectively in classrooms. School meals are essential for children’s health, growth and learning, especially for girls and children with disabilities who face extra barriers.

Through the programme, local farmers provide food for nutritious school meals, supporting both children’s education and local agriculture, while improving food systems and learning outcomes. Knowing their children will eat at school motivates families to send them, boosting attendance and enrolment. Through the initiative, 18,536 children from 14 schools received daily, hot, nutritious meals.

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The results were impressive:

Beyond the numbers, children were more motivated, attentive and engaged. Teachers noticed fewer

instances of truancy and greater participation in after-school activities.

For Chadrack, a 15-year-old returnee from Tanzania, the programme was life-changing. Before, hunger nearly forced him out of school. His family couldn’t afford daily meals, and he faced tough choices – stay in school, or skip classes to fish in Lake Tanganyika or work as a casual labourer.

“I used to miss or delay classes, but now I attend all my courses and perform better,” Chadrack says proudly. “I am now first in my class�”

ABOVE IMAGE The home-grown school feeding programme at a school in Tanzania, has been life-changing for Chadrack, 15. © 2025 World Vision

With renewed energy and confidence, Chadrack now dreams of attending university and becoming a teacher, determined to pass on the gift of education to others.

Our learning

The home-grown school feeding model goes far beyond giving children a good meal. It enhances children’s participation in learning, strengthens local food systems, supports farmers, promotes sustainability and builds community resilience. Its success relies on strong partnerships between schools, communities and local administrations. World Vision’s integrated approach uses school meals as a platform to promote schools as hubs for community learning and drivers of local development.

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OUR EMERGENCY RESPONSE IN 2025

RESPONDING TO DISASTER

Our contribution to World Vision’s emergency responses across 29 countries reached 2�8 million people, half of whom were children�

----- Start of picture text -----
Lebanon
Moldova Conflict Syria
Refugee crisis Conflict, earthquake
Sudan Ukraine Mongolia
South Sudan Conflict, drought, Conflict Afghanistan Wildfires
Conflict, drought, hunger Romania Hunger
Refugee crisis
hunger
Nepal
Niger Flood
Conflict,
hunger
Burkina Faso Bangladesh
Conflict, flood Refugee crisis
Mexico Myanmar
Migration Earthquake,
crisis flood, conflict
West Bank
Sierra Leone Conflict, hunger
Uganda
Mpox prevention
Refugee crisis
Bolivia Kenya
Wild fires Refugee crisis,
hunger
Zambia Ethiopia
Rwanda Somalia
Drought, hunger Burundi Hunger
Refugee crisis Conflict, drought, hunger
DRC refugee crisis
Democratic Republic
Mozambique
of the Congo (DRC)
Cyclone Malawi
Conflict, hunger Zimbabwe
Refugee crisis,
Drought, hunger
drought
----- End of picture text -----

In 2025, the World Vision Partnership supported 104 emergency responses in 70 countries, reaching over 35�6 million people: of these, 18�6 million were children�

Last year we reported on the World Vision Partnership’s ENOUGH campaign in the 28 countries of highest alert, and we continue to respond to hunger. This year the campaign has focused on promoting child nutrition, which we have been part of through our commitment to school meals in Sudan, DRC and Burundi and through advocating for change.

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Snapshots of our work in emergencies this year[3]

Accountability to communities is an important part of the high humanitarian standard we aim to achieve. Almost all[4] reports available showed how we involved communities in collecting feedback on our interventions through consultations, focus groups and feedback sessions. Help desks, hotlines and feedback boxes allowed people to share concerns, which were tracked and addressed. Projects were adjusted based on this input, with special efforts to include vulnerable groups and make facilities accessible.

3 Summarised from project reports; 26 reports out of a total of 38 were available at the time of writing.

4 Clear evidence in 25 out of 26 (96%) of available reports.

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OUR COMMITMENT TO SAFEGUARDING

Safeguarding children and adults living in communities we serve is foundational to all the activities, programmes and ministry we provide. As a support office, we give safeguarding oversight and assistance to our field offices working with communities overseas. Our staff are trained in our safeguarding policy and procedures, embracing the behaviour protocols that define the culture of safeguarding we expect. Central to everything we do is our commitment to do no harm to any child or adult living where we have a presence. We uphold the best interests of children as a primary consideration in all actions and decisions. Our zero tolerance towards incidents of violence and abuse, including exploitation committed by employees or other people affiliated with our work, means taking action immediately. We ensure that all reports of suspected or known abuse are taken seriously, putting survivors at the centre of our response and prioritising their interests.

Safeguarding is reported quarterly to our Finance, Audit and Risk Committee, and then annually the whole Board reviews and agrees the safeguarding policy and reports. Trustees undertake DBS checks and safeguarding training every two years as well as safeguarding assessments when travelling overseas. The global World Vision Partnership strives to ensure that the most rigorous safeguarding practices are in place, and we undertake an annual audit on our safeguarding practices in which we were fully compliant this year.

During 2025 we received 37 safeguarding reports. All were closed after investigation, with three reported to the Charity Commission as serious incidents that took place overseas. The World Vision Partnership’s safeguarding figures associated with international programmes are reported in its own trustees’ report.

We received one whistleblowing report in the last 12 months. This was a grievance that was investigated and found unsubstantiated.

All staff receive mandatory training on safeguarding and role-specific training, together with new DBS checks every two years. Following changes to the Equalities Act, all staff received training on sexual harassment this year, and this will be included for all new staff in the future. We identified and promoted five routes for staff to report concerns, with assurance they will be believed and fully investigated and should not fear any reprisal for making a report. Line managers attended workshops on how to support and manage staff who report bullying or harassment in the workplace.

We introduced a new partner safeguarding risk assessment, which we now undertake before a partnership begins. This assists us in understanding potential partners’ safeguarding policies, processes and procedures, and encourages us to learn, share best practices and strengthen safeguarding capacity with partners. Risk assessing and collaborating from the start of a partnership brings trust and a united focus to the prevention of harm.

We remain on a path of continuous improvement and being accountable to those we serve and those who support our work.

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INSPIRING GIVING

We are incredibly thankful to all our generous supporters, whose donations and regular giving this year have made a significant impact to improve the lives of children and their communities�

Together, our incredible supporters raised over £26m, including nearly £4m in Gift Aid. We want to thank everyone who has been able to give, enabling us to bring real and lasting change to children and their communities across the world. We also know that receiving communications from their sponsors has a positive impact on children’s wellbeing, so thank you to all those who have taken the time to write to their sponsored child this year – it really makes a difference!

Child Sponsorship is at the heart of World Vision UK and we have started to see signs of growth in the number of new child sponsors joining us. Towards the end of this year we relaunched face-to-face fundraising in retail sites, and have already seen really positive engagement from the public. We have also refreshed our focus in our digital marketing, and will be testing more channels in 2026. As well as recruiting new sponsors, all our Child Sponsorship marketing has the added impact of increasing our brand awareness with the public.

Beyond committed giving, our supporters demonstrated remarkable generosity this year. We were deeply moved by the overwhelming response to our emergency appeals, especially following the earthquake which struck Myanmar in March. This appeal raised £262,223 enabling us to provide lifesaving interventions for communities.

ABOVE IMAGE Sponsored child, Deborah, 14, plays in inter-school football match in West Gonja area programme, Ghana. © 2025 Jon Warren/World Vision

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FUNDRAISING RESPONSIBLY STATEMENT

We are tremendously thankful for all our supporters. Their generosity is humbling, both in terms of financial support and their engagement with the children and the communities we serve. We are determined to respond to their kindness by treating them with respect and courtesy, especially in how we fundraise and how we manage the data we have about them.

OUR OVERALL APPROACH TO FUNDRAISING

We aim to inspire supporters to join us in transforming the lives of the world’s most vulnerable children, and to enhance their experience and deepen their engagement by offering several ways for them to get involved.

If people have given us their permission, we may ask them to give financially. If so, we will always explain why we need donations, in clear language, and always respect people’s preferences about the ways in which we communicate with them. We reach new supporters through our website and other online marketing; through churches, Christian festivals and public events; and by inviting support from the public in person at various locations, such as selected shopping centres.

OUR FUNDRAISING STANDARDS

We are proud to be members of the Fundraising Regulator and we abide by its Code of Fundraising Practice. We comply fully with our regulatory obligations and always seek ways to strengthen our practices in this area.

We work hard to ensure that all staff are aware of and sensitive to data protection issues in their day-to-day work, embedding this into our culture.

World Vision UK uses carefully selected agencies to carry out fundraising on our behalf, and we undertake due diligence, safeguarding and vetting checks on all external agencies. We have written agreements put in place and expectations reflected in contracts with agencies, including regular call monitoring, reporting and quality assurance.

We monitor our fundraising carefully, as well as the overall service we give to our supporters. All supporter phone calls, emails and letters – positive and negative – are logged with summaries and key issues communicated back to the management team monthly and our campaign teams on a regular basis.

World Vision UK has a complaints policy on its website, making it easy for our supporters to raise concerns and provide feedback to us. We monitor and record our complaints monthly and use the information to improve our processes.

Any negative feedback received, according to the Fundraising Regulator, needs to be categorised as a complaint and all feedback given falls into one of the four categories (complaint A, complaint B, positive feedback and suggestions).

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Category A complaints are those that pose a significant risk to the reputation of World Vision and must be dealt with as a matter of urgency. We respond to supporters within 24 hours. In this year, we received one Category A complaint which was resolved within 24 hours. We regularly review complaints. We assess lessons learnt and, where appropriate, we take action to implement any appropriate improvements to our fundraising practices.

Category B complaints are those where a supporter has given their opinion about our products or service or where a concern or query has been raised. In 2025, we received 473 complaints compared with 694 in the previous year. Of these, 28% related to a rate rise campaign which has prompted us to assess our campaign design process and implement changes to strengthen it and reduce potential supporter dissatisfaction.

Seventy of our supporters took time to provide us with positive feedback.

Engagement levels among our supporters remained broadly stable, with overall satisfaction through the My Sponsorship online portal averaging 4.8 out of 5 from over 6,600 responses.

BEING SENSITIVE WITH OUR FUNDRAISING

We have internal standards to guide how often we contact supporters. And when we do contact them, we provide clear and simple ways for them to opt out in the future.

TREATING SUPPORTERS FAIRLY

We have a policy and practices to help us identify potentially vulnerable people when speaking to potential supporters face-to-face. We provide annual training to fundraisers on our vulnerable persons fundraising policy, so they understand what vulnerability means and what action to take if someone is recognised as vulnerable. The policy is provided to the agencies we use for fundraising, and all have signed agreements that confirm their adherence to the policy.

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DRIVING CHANGE FOR CHILDREN: ADVOCACY AND POLICY IMPACT

In 2025, World Vision UK continued to champion children’s rights and wellbeing through strategic advocacy� Despite a challenging political climate and aid budget uncertainty, we strengthened our influence under our #Champions4Children strategy, which prioritises children in every investment, embeds their wellbeing in UK development and foreign policy, and amplifies their voices in decisionmaking�

Our advocacy on child hunger and malnutrition remained central, aligned with the global ENOUGH campaign. A key milestone was the Nutrition for Growth (N4G) Summit in Paris, where World Vision UK joined major UK charities through the International Coalition for Advocacy on Nutrition (ICAN) to call for strong UK government commitments. At the summit, World Vision was among the first civil society organisations to sign the UK-led Global Compact for Nutrition Integration, promoting nutrition objectives across sectors such as climate and health. The World Vision Partnership reinforced these commitments by pledging to reach 1.2 million children annually through a US$1bn investment across water, sanitation, health, livelihoods and education.

Youth engagement was pivotal. World Vision youth advocates from Sierra Leone, Colombia and Nepal met UK parliamentarians, presenting a global call to action on malnutrition. They urged leaders to confront the crisis and adopt solutions that put children first. Beyond these meetings, our Youth Advocacy Network expanded its leadership role globally – co-chairing an FCDO roundtable on AI in education and spearheading dialogues that positioned young people as equal partners in shaping policy. These efforts were

not symbolic; they influenced real commitments, with policymakers citing youth recommendations in discussions on nutrition and education, proving that youth-led advocacy drives tangible policy change.

Our long-term goal to secure UK government membership in the School Meals Coalition gained momentum through NOURISH: A Global Youth School Meals Dialogue, co-led by our Youth Advocacy Network. This fully youth-designed virtual event, held ahead of the Coalition’s Global Summit in Brazil, united young people from 12 countries with policymakers from 24 nations. Decision-makers were invited to listen, not speak – ensuring youth recommendations shaped the conversation. Sharon Hodgson MP, Chair of the All-Party Parliamentary Group on School Food, closed the event, reinforcing UK leadership on school meals.

Across the year, we recorded over 150 external engagements, including more than 80 proactive requests from FCDO and Parliament. Our influence reached all levels of FCDO, contributing to strategies on children in armed conflict, preventing sexual violence, and humanitarian access. Evidence from our 2024 Putting Children First for Sustainable Development report – showing a £10 return for every £1 invested in children – was widely cited, prompting discussions on embedding children more within FCDO. We followed it in 2025 with ODA at a Crossroads, with updated spending data demonstrating the importance of putting children at the heart of ODA for a better future for all.

Looking ahead, we will build on these achievements to ensure UK policy consistently champions children’s rights and voices – because lasting change starts with children.

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OUR PLANS FOR THE YEAR AHEAD

Since embarking on our multi-year strategic transformation journey in 2021/2022, our primary focus has been to drive income growth, while remaining a financially sustainable organisation� The past two years in particular have been challenging for the sector as a whole, forcing us to make significant adjustments to adapt to the ever-changing external operating environment�

The dramatic reduction in international aid has magnified the criticality for charities like us, to wrestle with two key challenges:

  1. How we meet the needs of vulnerable children continues to evolve. Increasing conflict and political instability in many regions are still leading to displacement, disrupting children’s lives and access to essential services. Additionally, refugee and internally displaced children face heightened risks of exploitation and violence. Children in developing countries are disproportionately affected by the impacts of climate change, such as increasingly frequent and severe weather events, which threaten their health, education and overall wellbeing.

  2. The humanitarian and development sector faces financial difficulties driven by increased competitiveness, reduced funding availability and increased cost of delivery.

Now, more than ever, children need us and are relying on us. Our vision and mission remain steadfast, and we intentionally adapt our ways of working to remain relevant and effective.

We have identified five key priorities for the coming year that will guide our efforts toward greater impact, efficiency and cultural transformation:

  1. Growing private income.

  2. Strengthening our thought leadership voice, and becoming a leading partner of choice for institutional and multilateral donors.

  3. Strengthening our brand by amplifying stories, partnerships and impact.

  4. Investing intentionally in people and talent.

  5. Accelerating organisational efficiencies through automation, integration and business intelligence.

We will continue to walk alongside communities, so that they are safe, protected and thriving, and to amplify the voices of children, so they themselves can be the changemakers of the future and of today.

Underpinning all we do is our reliance on God, and we continue to seek His guidance as we follow His calling, and trust that He will continue to provide for us this coming year.

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FINANCES AT A GLANCE

OUR INCOME

OUR EXPENDITURE

25 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

FIVE-YEAR FINANCES

----- Start of picture text -----
2021 2022 2023 2024 2025
£’000 £’000 £’000 £’000 £’000
Committed giving and other 29,604 29,001 26,322 26,895 24,842
donations
Donations for emergencies 1,789 9,829 16,329 7,956 5,493
Donated goods and services 2,715 8,444 3,638 3,794 7,671
Institutional grants 18,576 22,280 18,887 27,584 27,803
Charitable activities – government 36 183 8,980 4 -
service contracts
Investment and other income 95 25 465 436 285
Total income 52,815 69,762 74,621 66,669 66,094
Cost of raising funds 10,728 11,668 12,636 13,483 12,562
Charitable activities 45,170 55,280 64,914 51,292 56,388
Total expenditure 55,898 66,948 77,550 64,775 68,950
Investment gains/(losses) 267 (60.00) 77 232 (31)
Net income and net movement (2,816) 2,754 (2,853) 2,126 (2,887)
in funds
The funds of the charity
Restricted and designated funds 5,294 6,909 5,231 8,702 5,842
General fund 10,677 11,816 10,642 9,297 9,270
Total funds 15,971 18,725 15,873 17,999 15,112
Ratios
Percentage of total 5 year average
expenditure:
Cost of raising funds 19.2% 17.4% 16.3% 20.8% 18.2%
Charitable activities 80.8% 82.6% 83.7% 79.2% 81.8%
Free reserves
Number of days’ expenditure 54 90 67 56 55
----- End of picture text -----

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FINANCIAL REVIEW

In 2025 World Vision UK raised income of £66�1m, £0�5m lower than 2024� We continued to support children and communities through our development and humanitarian response programmes in some of the world’s most fragile places, working to improve education, health, nutrition and food security, protection, WASH and family livelihoods�

INCOME

Total income in 2025 of £66.1m was on a par with the previous year. Reduced emergency income in 2025 was offset by increased donated services income. Institutional grant income (excluding emergency appeal income) was £27.8m (2024: £27.6m), an increase of 0.7% despite the announced reduction in the percentage of gross national income (GNI) allocated by government for international development to 0.3%. This is expected to impact future years’ income as the FCDO restructures its grant portfolio.

Committed giving and other donation income was £24.8m (2024: £26.9m). Of this, Child Sponsorship committed giving decreased by £0.9m to £13.2m. The total number of child sponsors at year end was 47,032 (2024: 51,491). Legacies income remained stable at £1.3m (2024: £1.3m). Income from tax recovered under the Gift Aid scheme fell to £3.9m (2024: £4.0m) in line with the reduction in Child Sponsorship giving.

Donated goods and services income was received from the World Food Programme (WFP). Income in 2025 increased to £7.7m (2024: £3.8m). Throughout FY25, World Vision UK managed a large portfolio of WFP-funded projects, all providing life-saving support to vulnerable people facing humanitarian emergencies.

EXPENDITURE

The change we seek for children and communities in the most difficult circumstances is our primary objective. Out of our total 2025 expenditure of £69m (2024: £64.8m), £56.3m was spent on our charitable activities (2024: £51.3m), resulting in a charitable activities ratio of 81.8%.

Our cost of raising funds was £12.6m in 2025 (2024: £13.5m). The ratio of cost of raising funds to total expenditure was 18.2%, a decrease from 20.8% in 2024, reflecting lower spending due to cost-cutting measures. Total costs of £16.3m incurred in the UK in 2025 (2024: £19.4m), including the total cost of raising funds and some of the costs allocated to charitable expenditure, were lower due to savings on salaries and other people-related costs (£1.5m), marketing and communications (£0.9m) and research and consultancy (£0.7m).

RESERVES

We set aside reserves to ensure our long-term financial viability. Our reserves policy is reviewed annually and considers financial and operating risks, strategic objectives and required levels of unrestricted funds. The basis for determining the target range for reserves is through estimating the requirement for each of the following components:

27 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

  1. To ensure maintenance of essential services for beneficiaries.

  2. To provide working capital so that grants and commercial contracts can be undertaken.

  3. To insulate the charity against unmitigated financial risks.

The target level of free reserves was reviewed during the year and was set at between £4.8m and £6.8m for FY26.

The charity holds three categories of reserves:

At the end of September 2025 total funds stood at £15.1m (2024: £18.0m).

GENERAL FUNDS

The General Fund, also known as free reserves, is the part of a charity’s unrestricted funds that is freely available to spend on any of the charity’s purposes. In 2025 the General Fund was carefully managed to maintain the reserves position ending the year at £9.3m (2024: £9.3m). We have ended the year above the top end of our General Fund target range because we are continuing to invest in digital transformation through 2026.

DESIGNATED FUNDS

Within the Unrestricted Funds, designated funds of £3.5m (2024: £3.3m) relate to the Fixed Asset Fund, which represents the value of fixed assets less related financing. This fund adjusts as the values of these assets are amortised over their useful economic lives and as new assets are acquired.

RESTRICTED FUNDS

Restricted funds, those subject to conditions imposed by donors or implied by the nature of the appeal, amounted to £2.4m (2024: £5.5m). These decreased during the year, reflecting the reduction in grant activity following the UK government’s reduced commitment to international development.

GOING CONCERN

The Trustees have assessed and confirmed their belief in the charity’s ability to continue operating on a going concern basis, taking into account its current financial position, expected future plans, target reserves range and availability of cash. The target level of free reserves for 2025 was £4.9m to £7.1m and the closing general fund stood well above that range at £9.3m, a substantial proportion of which is represented by liquid assets.

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INTERNAL CONTROLS

The charity has implemented systems of internal financial controls and procedures that are reviewed regularly by management. These systems provide reasonable assurance against errors or loss. The procedures aim to ensure the completeness and accuracy of accounting records and document the ways in which Trustees have delegated financial authority within defined limits. The internal controls provide reasonable assurance that:

The World Vision Partnership has a global internal audit function that is responsible for making sure appropriate arrangements are in place to provide audit and assurance on its overseas operations, including those to which World Vision UK makes its remittances. The primary accountability of the internal auditors is to the audit committee of World Vision International, the legal entity providing international coordination and leadership of the World Vision Partnership. Internal audit findings for all countries World Vision UK funds are available for review. These findings are reviewed as part of our decisions to fund, as well as monitoring of our funding. Governmental and institutional donors may also require audits of their funding.

INVESTMENTS

Under our articles of association, the Trustees have the authority to invest World Vision UK’s funds. Our investment policy sets out the general parameters within which investments are to be made, so that investment risks are managed, while ensuring that our activities are not jeopardised, and contribution to our mission is maximised.

World Vision UK does not currently have significant non-cash investments, investing only in the COIF Charities Investment Fund managed by CCLA Investment Management Limited in accordance with our investment and ethical policies. This fund maintains the majority of assets in equities with the objective of long-term growth and returns. At the end of the current year, our investments amounted to £2,044,000 (2024: £2,077,000), with a net loss of £32,000 during the year (2024 gain : £232,000). Cash holdings are placed on short-term or overnight deposit. The investment portfolio was reviewed in 2025.

RISK MANAGEMENT

Robust risk management is a critical component in achieving our strategic objectives and protecting the organisation. We have a robust framework in place for the review and mitigation of risks to which our organisation is exposed.

The Board of Trustees has ultimate responsibility for risk management. Annually, the Board decides the level of risk it is prepared to take in pursuit of our goals and this is summarised in our risk appetite statement.

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The Board of Trustees delegates scrutiny of risk management to the Finance, Audit and Risk Committee, which meets regularly during the year to review our key risks and the effectiveness of the mitigations we have in place to manage those risks. The committee’s chair reports on risk management to the subsequent full Board of Trustees meeting.

The Strategic Leadership Team maintains close oversight of risks and regularly reviews strategic, operational and emerging risks to ensure that appropriate and robust internal controls are in place. Mitigating controls are documented for each risk and are tested for their robustness and effectiveness in managing the risk and against the Trustees’ appetite for risk.

----- Start of picture text -----
Risk area Risk mitigations
Reputation Any adverse impact on our reputation can jeopardise the World Vision brand.
This can lead to a loss of confidence among the public, our donors, partners and
supporters and may ultimately lead to loss of income.
We have a robust framework in place to identify and manage any potential risk
to our reputation. We can rapidly invoke our Crisis Management Team to provide
a comprehensive structured response plan for any potential threat to our
reputation and brand.
Cyber-security Cyber-security threats continue to increase in frequency and sophistication.
We continue to invest in appropriate security technology to protect our
infrastructure. We have robust monitoring processes to identify potential threats
and we carry out regular testing of the robustness of our technical defences.
We have IT policies and procedures in place to mitigate cyber-security threats
and we support our staff with appropriate training to enable them to identify
and report potential network security infringements.
Talent Our people are the cornerstone of our UK operations and we want our
engagement workplace to offer equitable opportunities for all so that we can attract and
retain the talent we need to deliver our strategic goals.
This year, we undertook a significant organisational restructure. We upheld the
highest management practices in compliance with ACAS best practice and UK
employment law.
We encourage a working environment which is based on open and transparent
communication. Our pay model ensures fairness and equity. Our hybrid
working model ensures that our staff are provided with appropriate flexibility
to support their work-life balance. We focus strongly on staff engagement
and we encourage a ‘speak out’ culture where staff can raise concerns and be
listened to. We seek to continuously strengthen our talent development model.
We use equity impact assessments to help us assess the potential effects of our
policies and practices on different groups of people to ensure that we promote
equality and do not create unintended disadvantages. We actively promote staff
health and wellbeing and provide appropriate support through an employee
assistance programme and a team of mental health first aiders.
----- End of picture text -----

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Income
generation		 Emerging from a challenging year which saw a reduction in overseas
development aid and cognisant of the need to ensure fnancial sustainability,
we continue to strive to be the fastest-growing Christian charity focused
on children.
We have built a fundraising and marketing strategy to support growth in child
sponsorship and income generation, enhance our philanthropic relationships
and deepen our engagement with churches. We continue to invest in our brand
and digital presence to reach more audiences. Our new customer relationship
management system will enable us to manage the relationship with our
supporters more efectively.
We have diversifed the base of institutional donors and continue to seek new
forms of funding, including commercial contracts and innovative fnancing
opportunities.
Safeguarding We continue to advocate for the protection of children, the communities we
serve and our staf through robust and efective safeguarding practices which
are rigorously implemented. We have efective systems in place for monitoring
and reporting on safeguarding practices.
In our overseas programmes, safeguarding is placed at the centre of our work.
Children and communities are provided with training, materials and guidance
on their rights to be protected from harm, and how to speak out if they
have concerns.
We perform rigorous due diligence on third parties to ensure that our
safeguarding standards are understood and upheld. All staf, Trustees and
relevant third parties are required to confrm that they will adhere to our
behaviour protocols.
We have robust processes in place to investigate and report incidents
as required and we provide survivor-centred support to those who may
be afected.

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CORPORATE STRUCTURE, GOVERNANCE AND MANAGEMENT

The unique structure of the World Vision Partnership means that we can work alongside children, families and communities in almost 100 countries to create opportunities for better futures for all children, even in the world’s toughest places�

The World Vision Partnership

World Vision UK is part of the World Vision Partnership, a network of national organisations constituting a federal partnership. Many World Vision offices are governed by local boards of trustees while others are branches of World Vision International and may have local advisory councils. This means overall control of World Vision is not held by a central body but shared with our global World Vision partners. World Vision UK is a committed member of the World Vision Partnership and is autonomous in its decision-making but, through the Covenant of Partnership, agrees to follow common policies, standards, mission and vision statements and core values that bind the Partnership together.

The Covenant of Partnership holds us together, under God, by voluntary commitment rather than legal contract.

The Board of Directors of World Vision International oversees the World Vision Partnership’s global strategy and coordination, including approving global budgets and determining international policy. The World Vision International Board appoints and evaluates the International President, who is the Chief Executive Officer and a World Vision International Board member. The World Vision International Board has 24 members drawn from 19 countries across all the continents in which the Partnership operates. This system ensures opinions from across all regions can be expressed and considered equally.

The Board of Directors of World Vision UK and World Vision International recognise that good governance is vital to the effectiveness of our mission and an important safeguard for accountability to the people we serve, supporters, partners and the public, and effective stewardship. World Vision invests significant effort in seeking to continually improve governance both in the UK and internationally. World Vision International has a Global Governance Department that assists local boards and advisory councils by publishing guidance and providing training and support. It also enables mutual accountability by facilitating peer reviews that evaluate alignment with the World Vision Partnership’s core documents, policies and standards and compliance with good governance practice, supporting local boards and advisory councils in providing the highest standards of governance oversight, and allowing the World Vision International Board to better govern risk across the Partnership. The World Vision Partnership conducted a peer review of World Vision UK’s governance structures and processes in April 2025 and concluded that World Vision UK’s performance “meets standards” overall. Through the peer review the Board identified areas to further strengthen governance processes; work has already been completed on this and will be taken forward further in FY26.

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World Vision UK

World Vision UK is a registered charity in England and Wales (charity number 285908) and is constituted as a company limited by guarantee and registered in England and Wales (company number 1675552). As a charitable company, World Vision UK is governed by its Memorandum and Articles of Association (revised November 2024). The Articles provide that the Trustees (who are also the Directors of World Vision UK for the purposes of company law) are also the members of the company and, in the event of the company being wound up, each member’s liability would be limited to £1.

The Articles set out World Vision UK’s charitable objects (or purposes), the Trustees’ powers to achieve these objects and matters relating to the running of the charity’s internal affairs. As a charitable company, our Trustees have the legal duties and responsibilities of charity Trustees under charity law and, under company law, the legal duties and responsibilities of company directors.

World Vision Trading Limited is a private company, limited by shares, which is incorporated in England and Wales (company number 11460148). It is a wholly owned subsidiary of World Vision UK. The company has no employees or premises of its own and has two statutory directors. The company was made dormant with effect from 1 October 2023.

Charitable objects and public benefit

Trustees have a duty to develop strategic plans which further their organisation’s charitable objects and provide public benefit. With this duty in mind, the Trustees review World Vision UK’s aims, objectives and activities each year. The Trustees have due regard to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims, objectives and activities, when planning future activities and when considering how these activities will achieve World Vision UK’s charitable purposes (set out below) and are confident World Vision UK continues to meet its public benefit duty.

World Vision UK’s charitable objects:

  1. To relieve or prevent poverty anywhere in the world, particularly (but not exclusively) among children, by means including (but not limited to):

  2. a. emergency relief that assists people affected by conflict or disaster.

  3. b. sustainable development that improves the conditions of life in socially and economically disadvantaged communities.

  4. c. advocacy by educating, engaging with, and mobilising people in the UK and other countries concerning the nature, causes and effects of such emergencies and poverty.

  5. To promote and uphold the principles of the Christian religion, including (but not limited to) working with and strengthening the work of Christian churches in any part of the world in providing services to communities, including (but not limited to) those affected by conflict, disasters and poverty, regardless of race, nationality, religion, gender or political affiliation.

Board and management roles

Our Trustees are responsible for the governance and management of the charity and are committed to World Vision’s mission, vision and values and to ensuring the charity delivers its charitable purposes for the public benefit. To ensure our Trustees understand their responsibilities, they are required to review

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the Charity Commission’s guidance The Essential Trustee (CC3) and the charity’s governing document before joining the Board (and then on an annual basis).

While the Trustees are ultimately responsible for the strategic direction of the charity, day-to-day responsibility for operational matters is delegated to the Chief Executive who leads the Strategic Leadership Team (together known as the ‘Principal Officers’ (see page 74). The Chief Executive Officer and Strategic Leadership Team develop organisational strategies, plans, policies and processes to achieve World Vision UK’s aims, which are implemented following Board review, advice and approval.

Board composition

The current list of Trustees is set out on page 74. The Board of Trustees is comprised of independent, unremunerated, non-executive members. To reflect the federal model of the World Vision Partnership, the World Vision International President is represented on the Board by a nominee appointed by the World Vision International President. The remaining Trustees are appointed by the Board of Trustees.

Board governance

The Trustees delegate responsibility for oversight of World Vision UK’s governance to its Board Development Committee (BDC). The BDC is responsible for promoting Board effectiveness and implementing governance best practice. As part of this role, the BDC is responsible for finding and recommending candidates for Board membership and providing an ongoing programme of Trustee training and development.

An effective Board must work as a team and bring together a balance of skills, experience, backgrounds and knowledge that provide different perspectives to inform and enhance Board decision-making. Accordingly, Board composition and Trustee recruitment, induction, training and development are Board priorities, governed by Board policies which are regularly reviewed by the BDC.

The committee reviews Board composition annually, considering the Board’s skills, gender and diversity needs before making a recommendation to the Board for a targeted recruitment programme. The recruitment process is open and rigorous. The BDC will usually retain the services of a recruitment consultant to ensure a diverse list of candidates but will also approach candidates directly who meet the Board’s recruitment criteria. Trustees are appointed following a competitive interview and shortlisting process in which candidates are assessed against Board-approved criteria.

Trustees are appointed for an initial term of three years and may be appointed for a second term of three years and a third term of one, two or three years, depending on the needs of the Board and performance. The maximum term of nine years may be extended if a Trustee is appointed to the World Vision International Board or for a Trustee serving as Board Chair. The Board Chair and Vice Chair are elected by the Trustees annually and will usually serve three years in role. The BDC oversees an individual induction and mentoring programme for new Trustees.

In February 2025 the Board bid a fond farewell to three Trustees, two of whom had come to the end of their full tenure. The Board is planning to appoint new trustees in FY26 to strengthen its diversity of skills, experience and perspectives.

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Code of conduct

Our Trustees are committed to ensuring World Vision UK is an organisation that is ethical, legal and consistent with World Vision’s values. The Trustees expect all World Vision personnel to conduct themselves in accordance with the highest ethical standards. Trustees are required to uphold and maintain World Vision’s vision, mission and values and the effectiveness and reputation of the organisation. Trustees evaluate themselves annually against these standards and the Board’s code of conduct and conflict of interest policy. Trustees are required to annually disclose any conflicts of interest and, where any conflict or potential conflict is identified, may not participate in Board discussion or decision-making on related matters.

Board expenses

No fees or remuneration are paid for serving as a Trustee. World Vision UK reimburses reasonable expenses incurred while acting as a Trustee. This includes travel, accommodation and childcare expenses required to attend meetings, training and orientation events (including a visit to World Vision’s work overseas). Every effort is made to ensure costs are modest.

Board meetings

The Board holds at least four full-day meetings per year and has a comprehensive Board meeting forward agenda. In addition, the Trustees join staff for the World Vision Day of Prayer, as well as a half-day meeting with staff from across the organisation to hear their views, and they met with the Strategic Leadership Team for spiritual retreat in May.

Board committees

The Board does not, in general, delegate decisions to its committees. Instead, committees are responsible for considering significant issues in depth and subsequently reporting to the Board, to inform Board discussion and bring recommendations to the Board for consideration and decision.

The Board regularly reviews a scheme of delegation which records matters which have been delegated to Board committees, Trustee Working Groups or the Strategic Leadership Team and matters reserved for Board decision.

The roles of Board committees are:

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Charity Governance Code

In 2018, the Trustees adopted the principles of the Charity Governance Code as part of their governance and assurance processes. A review of our governance processes against the code is planned for 2026 following the release of the updated Code.

Trustees’ duties in relation to Section 172 of the Companies Act 2006

The Trustees, as company directors of World Vision UK, must comply with the duties and responsibilities of company directors under English law. This includes a requirement to explain how they have had regard to the matters in section 172 of the Companies Act 2006. This section states that Trustees must act in the way they consider, in good faith, would be most likely to promote the success of the company in achieving its charitable purposes. In doing so, they should have regard to:

Throughout this report, we have summarised our guiding values and beliefs, governance framework, strategic aims and objectives and how we have gone about achieving those aims and objectives, and how we have engaged with our staff, communities we work with, partners, supporters, donors and stakeholders during the year.

The following paragraphs are not intended to be an exhaustive list but are illustrative of how the Trustees have fulfilled the duties identified in section 172 of the Companies Act in 2023.

Decision-making

As part of their induction, all Trustees are briefed on their duties and responsibilities and introduced to the Charity Commission’s guidance on decision-making. The Board governance structure is outlined from page 34 and supports effective Board decision-making processes through regular Board and committee meetings, Board meeting planning, comprehensive reporting, assurance and monitoring processes and horizon-scanning. The Board receives a quarterly report from the Chief Executive on organisational performance (with updates between meetings as appropriate) to inform Board discussion and ensure decision-making is informed, rigorous and timely. (The Board will also seek external professional advice when appropriate.) The Trustees understand their duty to act in the best interests of the charity now and in the future, and endeavour to consider the long-term consequences

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of their decisions. The Trustees approve an annual business plan and budget aligned to World Vision’s long-term strategy “Our Promise” (see page 8).

In addition, the Trustees have ultimate responsibility for risk management; details on our approach to risk management and the significant risks we face are explained on pages 29–31.

Engagement with employees

The Trustees understand the importance of engaging with staff and dedicate time each year to meet staff in small group sessions (without senior management present) to provide an opportunity for staff to hold the Board to account. In addition, the Board Chair reports to staff following each full-day Board meeting to share key messages and decisions. The Board also reviews annual staff surveys to gain insight into staff engagement and commitment to World Vision UK to inform Board decision-making when reviewing and approving people strategies, plans and policies. For more information on staff engagement please see pages 39–40.

Relations with communities, supporters and suppliers

Throughout this report we have shown how we have engaged with children, families and communities with whom we partner around the world; the individual supporters, donors, institutions and churches who generously support our work; and the partners and suppliers with whom we deliver our programmes.

Our programmes are run in accordance with World Vision International’s Programme Accountability Framework, which outlines how we should use our position in communities responsibly and create mechanisms that empower these communities and their children to hold us to account.

Our relationships with partners and suppliers are key to our effectiveness and we work with them closely to ensure a mutually beneficial relationship.

The community and the environment

Responding better to, and mitigating, the negative impacts of climate change is one of our priorities for the coming years, as it is a key driver of risk for the children we serve. The Trustees recognise their broader responsibilities towards communities, wider society and the environment. We recognise the need to respond to the communities we serve and the challenges of climate change in delivering World Vision UK’s charitable aims and ensure that our programmes are being delivered effectively and sustainably. Pages 41–42 explain in more detail our environmental stewardship activities in our UK operations.

Reputation for high standards of business conduct

Public trust is fundamental to a charity’s reputation and success. The Trustees are committed to safeguarding World Vision UK’s reputation by holding to the highest ethical and conduct standards and complying with legal and regulatory requirements. Staff and Trustees are expected to conduct themselves in accordance with World Vision UK’s vision, mission and values and World Vision UK’s code of conduct and conflict of interest policies. Our ethical policy, safeguarding policy and due diligence and procurement procedures ensure that our values and desire to maintain a reputation for high standards of business conduct are a key part of our selection of partners and suppliers.

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To act fairly as between members of the company

This section is not applicable as World Vision UK is a charitable company where the members (who are also the Directors of the company) are committed to furthering the charitable objects of the charity and not its members’ interests.

ABOVE IMAGE Children who have fled unrest in the DRC with their families, attend psychosocial support sessions in a transit centre, Uganda © 2025 Brian Jakisa Mungu/World Vision

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OUR PEOPLE AND CULTURE OUR THRIVING ORGANISATION

In 2025, we continued to advance our workforce strategy, Thriving People , built on four core pillars – Values and Inclusion, Performing at Our Best, Developing Our Talents and Ways of Working – all underpinned by our Christian values.

and is now embedded in onboarding for all new starters within their first three months. Additionally, managers attended workshops to deepen their understanding of the revised policy and develop skills to identify and informally resolve inappropriate behaviours.

Since we adopted a new strategic focus and operating model, our environment has experienced significant shifts due to the reduction in official development assistance (ODA). In response to these ongoing economic pressures and global market shifts, we have undertaken a comprehensive organisational restructure designed to strengthen our ability to deliver on our mission and achieve sustainable impact.

This restructure involved a combination of voluntary redundancies, internal redeployment into vacant roles, a number of compulsory redundancies, and the removal of unfilled positions. These changes achieved a substantial reduction in staffing costs and introduced a streamlined organisational design, supported by enhanced decision-making structures and new ways of working.

Throughout this period of change, we prioritised clear communication, feedback, and staff support. Our commitment to wellbeing included dedicated drop-in spaces with trained mentalhealth first aiders, alongside targeted training and manager briefings to ensure processes were applied consistently and compassionately.

We invested further in digitalising our talent management processes, enabling staff and managers to access clearly defined career paths and objectives aligned with our strategic mission and direction. This supports our commitment to developing talent and fostering growth opportunities across the organisation.

Looking ahead, we remain committed to cultivating an inclusive, thriving culture where every individual feels valued and supported, ensuring our people strategy continues to align with our mission and values.

Our commitment to equity, diversity and inclusion (EDI)

World Vision UK is committed to being an inclusive organisation, and the principles of equity, diversity and inclusion are core to our workforce strategy, Thriving People.

Specifically, we aim to create a working environment which:

We also strengthened our approach to creating a safe and respectful workplace. In line with new UK employment legislation requiring employers to take “reasonable steps” to prevent sexual harassment of their employees, all staff completed mandatory training linked to our updated anti-bullying and harassment policy. This training educates employees on recognising, reporting and preventing harassment

39 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

In our 2025 annual staff engagement survey, 97% of employees agreed that we foster an inclusive environment where everyone is welcomed, regardless of differences. This was up from 92% in the 2024 survey.

We continue to monitor workforce demographics closely. Representation of employees from ethnic minority backgrounds remains strong, at 38.4%, compared to 39% in 2024 – exceeding national census figures.

We have observed a slight upward trend in both the gender and ethnicity pay gaps, primarily driven by a higher proportion of women in lower pay grades. Addressing this is a key priority, and we will implement targeted measures in 2026 to reduce these gaps and promote pay equity.

We have also started recording disability figures as part of our Disability Confident Committed employer status. So far, 41.3% of staff have completed the request for data and of these, 2.8% have declared themselves as disabled. This is the first time we have reported on this statistic. We are now working on developing an action plan so we can move to the next level of the Disability Confident scheme.

In 2025, the Strategic Leadership Team agreed a revised set of high-level EDI goals, which were shared with our staff forums (BELONG and SCC) for comment and consideration.

Priorities during 2025 were:

  1. Reviewing and updating World Vision UK’s EDI policy.

  2. Ensuring organisational policies and practices engender inclusivity and eliminate any form of unlawful discrimination or bias. This included introducing equality impact assessments for all new policies or when policies are up for review. An equality impact assessment is a tool to help us assess the potential effects of our policies and practices on different groups of people to ensure they promote equality and do not create unintended disadvantages.

  3. Developing and running training on “ Attracting the best Talent for your Team ”. This was led by an external speaker from one of the local recruitment agencies we partner with, and included a section around unconscious bias in recruitment. This refers to the involuntary prejudices and assumptions that affect hiring decisions, leading to unfair treatment of candidates based on factors unrelated to their qualifications, such as age, gender, race or background. Hiring managers now have a shared understanding of how they can build more inclusive teams, better tap into a wide range of talent, and ultimately make fairer, more effective hiring decisions.

Introducing a moderation process in end-of-year performance discussions, helping to ensure consistency and reduce individual bias.

In addition, we developed a people manager’s toolkit to ensure managers understand their responsibilities and treat employees fairly. The toolkit contains a specific section on EDI.

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ENVIRONMENTAL STEWARDSHIP

World Vision UK served as co-chair of the Bond Resilience Learning Group until standing down at the end of September 2025. We are also an active member of the Climate Action Network UK, the Children in a Changing Climate Coalition and the Children’s Rights Climate Movement. We continued to work with World Vision national offices and partners to support environment and climate change programming.

Activities in 2025:

Carbon emissions

In 2025 our total reported emissions reduced by 75% to 83,477kg of carbon dioxide equivalent (CO2e), from 330,018kg CO2e in 2024. The reduction is due to reduced air travel which fell by 79% from 2024.

Our overall emissions are 9% of our FY19 baseline levels.

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Next steps

We will work with our World Vision International colleagues to prepare for World Vision’s presence at UNFCCC COPs and other meetings. We will continue to engage with the UN Global Compact Network UK throughout 2024 and 2025 to harness opportunities through private sector partnerships.

Out of Scope emissions are 37,685kg of CO2e

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also Directors of World Vision UK for the purposes of company law) are responsible for preparing the financial statements and Annual Report, including the Strategic Report, in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

Insofar as the Trustees are aware, there is no relevant audit information of which the charitable company’s auditors are unaware. The Trustees have taken all steps that they ought to have taken as Directors in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the company’s website.

Legislation in England and Wales governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company. The records should also enable the Board to ensure that the financial statements comply with the Companies Act 2006. Trustees are responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Strategic Report is approved by the Trustees as Directors of World Vision UK.

The Annual Report is approved by the Board on 27th February 2026 and signed on behalf of the Board by:

Douglas Millican

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A detailed look at our finances for the financial year ended 30 September 2025�

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STATEMENT OF FINANCIAL ACTIVITIES

(including income and expenditure account) for the year ended 30 September 2025

----- Start of picture text -----
Restricted Unrestricted Restricted Unrestricted
Notes funds funds 2025 funds funds 2024
£’000 £’000 £’000 £’000 £’000 £’000
Income from:
Donations and legacies 2a 27,892 10,114 38,006 28,135 10,510 38,645
Charitable activities 3a 27,803 - 27,803 27,584 4 27,588
Investment 4 - 250 250 - 396 396
Other 5 - 35 35 - 40 40
Total income - 55,695 10,399 66,094 55,719 10,950 66,669
Expenditure on:
Raising funds 6 6,079 6,483 12,562 6,041 7,442 13,483
Charitable activities 7a 52,690 3,698 56,388 46,632 4,660 51,291
-
Total expenditure 58,769 10,181 68,950 52,673 12,102 64,775
Gains on investment 14 - (31) (31) - 232 232
Net (Expenditure)/income
and net movements
in funds - (3,074) 187 (2,887) 3,046 (920) 2,126
Reconciliation of funds:
Total funds brought
forward 18 5,447 12,552 17,999 2,401 13,472 15,873
Total funds
carried forward 18 2,373 12,739 15,112 5,447 12,552 17,999
----- End of picture text -----

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BALANCE SHEET

as at 30 September 2025

----- Start of picture text -----
2025 2024
Notes £000 £000
Fixed assets
- - -
Intangible fixed assets
Tangible fixed assets 12 4,552 4,698
Investments 13 2,044 2,077
-
Total fixed assets 6,596 6,775
Current assets
Debtors 14 2,128 5,963
Cash at bank - 9,587 9,024
Total current assets - 11,715 14,987
Liabilities
Creditors: Amounts falling due within one year 15 (2,477) (2,680)
Net current assets - 9,238 12,307
Total assets less current liabilities - 15,834 19,082
Creditors: Amounts falling due after more than one year 16 (722) (1,083)
Total net assets - 15,112 17,999
The funds of the charity
Restricted funds 18 2,373 5,447
Tangible fixed assets fund 18 3,469 3,255
General fund 18 9,270 9,297
Unrestricted Funds - 12,739 12,552
18 15,112 17,999
----- End of picture text -----

The financial statements of World Vision UK, registered number 1675552, were approved and authorised for issue by the Board on 27 February 2026.

Andrew Darfoor

Douglas Millican (Board Chair)

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STATEMENT OF CASH FLOWS

for the year ended 30 September 2025

----- Start of picture text -----
2025 2025 2024 2024
£000 £000 £000 £000
Cash flows from operating activities:
Net cash provided by operating activities a - 825 - (345)
- - - - -
Cash flows from investing activities:
Deposit interest received - 250 - 396 -
- - -
Purchase of property, plant and equipment (82) (251)
Net cash used in investing activities - - 168 - 145
- - -
Cash flows from financing activities: (430) (461)
Change in cash and cash equivalents in the year - - 563 - (661)
- - -
Cash and cash equivalents at the beginning of the year 9,024 9,685
Cash and cash equivalents at the end of the year b - 9,587 - 9,024
Reconciliation of net income to net cash flows from operating activities 2025 2024
£000 £000
- - -
Net income for the year (as per the statement of financial activities) (2,887) 2,126
Adjustments for: - - - - -
Depreciation charge - - 229 - 186
Loss on investments - - 31 - (232)
Bank interest received - - (250) - (396)
Mortgage interest paid - - 69 - 100
Loss on disposal of fixed assets - - 1 - 1
Decrease in debtors - - 3,835 - (221)
Decrease in creditors - - (203) - (1,909)
Net cash provided by operating activities - - 825 - (345)
----- End of picture text -----

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----- Start of picture text -----
At 1 Other At 30
October non-cash September
Analysis of changes in net funds 2024 Cash flows changes 2025
£’000 £’000 £’000 £’000
Cash and cash equivalents
Cash at bank 9,024 563 - 9,587
9,024 563 - 9,587
Borrowings
Debt due within one year (361) 361 (361) (361)
Debt due after one year (1,083) - 361 (722)
(1,444) 361 - (1,083)
Total net funds 7,580 924 - 8,504
----- End of picture text -----

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NOTES TO THE ACCOUNTS

for the year ended 30 September 2025

1. ACCOUNTING POLICIES

World Vision UK is a registered charity no. 285908, a company limited by guarantee and registered in England no. 1675552. The members of the charity are the Trustees named on page 74. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity’s registered office is World Vision House, Opal Drive, Fox Milne, Milton Keynes MK15 0ZR.

a� Basis of preparation

These 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 (FRS 102) (second edition, effective 1 January 2019)’ – (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

World Vision Trading Limited, a wholly owned subsidiary of World Vision UK, has been excluded from consolidation on grounds of materiality.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b� Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

c� Going concern

The Trustees consider that there are no material uncertainties regarding the charity’s ability to continue as a going concern for the foreseeable future. World Vision UK’s activities are planned annually with a 3-year horizon. This is implemented by management through detailed operational plans. In-year monitoring of financial performance and market conditions is undertaken on a regular basis, with reforecasting and financial modelling performed as appropriate. Planning incorporates compliance with the reserves policy which is aimed at ensuring there are adequate reserves to cover: short-term applicable expenditure, working capital requirements and financial risks that crystallise. Accordingly they continue to adopt the going concern basis in preparing the financial statements as outlined in the Financial Review.

d� Income

Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and that the amount can be measured reliably.

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Income from government and other grants and outcome-based contracts is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Donated goods and services, including the donated element of transportation services provided to the charity at a reduced fee, are valued at market value and included in income when distributed or utilised.

e� Expenditure

Expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay. Where expenditure cannot be directly attributed to particular headings it is allocated on a basis consistent with the use of the relevant resources measured by reference to headcount.

Expenditure on raising funds relates to activities that are intended to generate income including servicing supporters who donate under committed giving schemes such as Child Sponsorship. The cost of fundraising campaigns is expensed in the year in which it is incurred although income derived from the initiatives may arise in future years.

Charitable activities comprise the following:

Funding for overseas programmes is monies expensed to overseas programmes or donated goods and services distributed to partner entities.

Programme support costs represent the costs incurred by UK-based staff in assisting programmes overseas, including their technical development, staffing, training, management and financial control.

Advocacy, education and research are the costs incurred in the UK to educate or influence governments, institutions and members of the public on poverty issues and includes campaigning and lobbying, public policy and research work, Christian engagement activities and educational and news publications.

Governance costs relate to the general running of the charity as opposed to the direct management functions inherent in the activities of the charity. They provide the governance infrastructure which allows the charity to operate and to generate the information required for public accountability and includes the strategic planning processes that contribute to the future development of the charity.

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f� Foreign exchange

Transactions denominated in foreign currency are translated into Sterling and recorded at the exchange rates ruling at the date of the transactions. Monetary assets and liabilities denominated in a foreign currency are translated into Sterling at the exchange rates at the balance sheet date. Translation differences are dealt with in the Statement of Financial Activities.

g� Tangible fixed assets and depreciation

Except for laptops and computer peripherals which are expensed on acquisition, tangible fixed assets costing more than £1,000 are capitalised.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset evenly over its estimated useful life as follows:

Freehold land nil Building 50 years Equipment, including computers 3 or 5 years Other fixed assets, including software 3 to 10 years

h� Intangible fixed assets and amortisation

Intangible fixed assets are held on the balance sheet at cost less accumulated amortisation and impairment losses.

Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If an asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.

Owned computer software, including development costs, is capitalised as an intangible asset and amortised on a straight-line basis over its expected useful life of 2–10 years.

Software as a service implementation and development costs are expensed as incurred.

i� Investments

Investments are valued at mid-market value at the balance sheet date.

j� Funds

Restricted funds are subject to conditions imposed by donors or implied by the nature of the appeal.

Designated funds are amounts which have been put aside at the discretion of the Trustees. The Tangible fixed assets fund represents the net book value of fixed assets less related borrowings, and therefore is not available for distribution.

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General fund comprises accumulated surpluses less deficits after transfers to designated funds. It allows the charity to budget for anticipated commitments in the short and medium term and to provide adequate working capital.

k� Pensions

The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

l� Leasing commitments

Rentals paid under operating leases are charged to Statement of Financial Activities as incurred.

m� Irrecoverable Value Added Taxation (VAT)

The company is unable to recover the majority of VAT charged on its purchases which is included in the related expense or asset in the accounts.

n� Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

o� Cash at bank

Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. A cash equivalent will normally have a short maturity of three months or less from the date of acquisition.

p� Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

q� Financial instruments

World Vision UK’s financial instruments are all common basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

r� Volunteers

Seventy volunteers supported the charity in 2025 (2024: 83).

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s� Critical accounting judgements and estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom exactly equal the related actual results. It is the opinion of the Trustees that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. The following key accounting judgements have been identified as follows:

Income recognition

Due to the range and complexity of the charity’s funding streams, revenue recognition is deemed to be an area that requires judgement to appropriately apply the income accounting policies explained in accounting policy 1d. Grant income is recognised once all conditions for recognition have been met.

Cost allocation

The cost allocation methodology requires judgement as to what are the most appropriate bases to use to apportion support costs; these are reviewed annually for reasonableness. Support costs are allocated between activities on an appropriate direct basis during the period.

53 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

2A. DONATIONS AND LEGACIES

At 30 September 2025, the number of children in the Child Sponsorship committed giving scheme was 47,032 (FY2024: 51,491).

----- Start of picture text -----
Restricted Unrestricted 2025 Restricted Unrestricted 2024
£’000 £’000 £’000 £’000 £’000 £’000
Committed giving and
other donations
Child sponsorship committed
- -
giving scheme 13,245 13,245 14,172 14,172
Legacies 1 1,250 1,251 - 1,331 1,331
Other donations 1,482 4,931 6,413 2,213 5,154 7,367
Tax recovered under Gift Aid - 3,933 3,933 - 4,025 4,025
14,728 10,114 24,842 16,385 10,510 26,895
Donations for emergencies
- -
Emergency appeals 1,326 1,326 1,355 1,355
Disasters Emergency
- -
Committee appeals 4,167 4,167 6,601 6,601
- -
5,493 5,493 7,956 7,956
Donated goods and services
- -
(see Note 2b) 7,671 7,671 3,794 3,794
Total donations and legacies 27,892 10,114 38,006 28,135 10,510 38,645
----- End of picture text -----

2B. DONATED GOODS AND SERVICES

----- Start of picture text -----
2025 2024
£’000 £’000
Donated goods and services received from:
World Food Programme (WFP) 7,003 3,577
United Nations (UN) 668 217
7,671 3,794
----- End of picture text -----

54 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

3A. INCOME FROM CHARITABLE ACTIVITIES

----- Start of picture text -----
Restricted Unrestricted 2025 Restricted Unrestricted 2024
£’000 £’000 £’000 £’000 £’000 £’000
- -
Institutional grants (see Note 3b) 27,803 27,803 27,584 27,584
Contracts for services - - - - 4 4
Total income from charitable activities 27,803 - 27,803 27,584 4 27,588
----- End of picture text -----

3B. INSTITUTIONAL GRANTS

----- Start of picture text -----
2025 2024
£’000 £’000
Development grants 12,439 15,094
Relief grants 15,364 12,490
27,803 27,584
Grants receivable from:
South Sudan – Research on Cash and Intimate Partner Violence in humanitarian settings - 3
Driving Action to Avert Mortality 9,447 6,789
AXE-Filles DRC 1,981 3,495
The Global Fund to Fight AIDS, Tuberculosis and Malaria 7,338 7,262
United Nations 4,557 5,031
Other European Union 499 2,132
Start Fund 3,981 2,701
Other - 171
27,803 27,584
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3C. CONTRACTS FOR THE SUPPLY OF SERVICES

During the year, the charity earned income from contracts for the supply of services provided for the benefit of the charity’s beneficiaries from the following parties:

----- Start of picture text -----
2025 2024
£’000 £’000
Somalia Crisis Recovery - 4
- 4
----- End of picture text -----

55 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

4. INVESTMENT INCOME

----- Start of picture text -----
2025 2024
£’000 £’000
Bank interest 250 396
250 396
----- End of picture text -----

5. OTHER INCOME

----- Start of picture text -----
2025 2024
£’000 £’000
Use of premises 35 30
Other - 10
35 40
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Use of premises income relates to administration fees and income relating to the use of the charity’s premises by other parties.

6. EXPENDITURE

----- Start of picture text -----
2025
2025 Costs of 2025 Funding 2025 Advocacy, 2025 2025
generating to overseas Programme education and Governance Support
funds programmes support costs research costs costs 2025 Total
£’000 £’000 £’000 £’000 £’000 £’000 £’000
Raising funds 9,070 - - - 356 3,136 12,562
Charitable activities (see Note 7) - 52,637 1,495 554 73 1,629 56,388
Total resources expended 9,070 52,637 1,495 554 429 4,765 68,950
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56 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

6. EXPENDITURE (CONTINUED)

----- Start of picture text -----
2025 2025
Programme 2025 Advocacy, Costs of 2025 2025
Cost incurred in the support education and generating Governance Support 2025 Basis of
United Kingdom: costs research funds costs costs Total Allocation
£’000 £’000 £’000 £’000 £’000 £’000
Salaries 1,305 488 5,356 274 2,239 9,662 Direct
Employment benefits 16 3 43 5 211 278 Direct
Temporary staff - - 118 38 171 327 Direct
Training 5 1 13 0 28 47 Direct
Recruitment 2 2 78 1 59 142 Direct
Travel and subsistence 56 11 115 18 15 215 Direct
Advertising and awareness raising - 0 879 - - 879 Direct
Research and consultancy 62 31 253 8 17 371 Direct
Other marketing and
communications 1 4 2,039 1 171 2,216 Direct
Equipment maintenance and rental 26 11 74 2 1,264 1,377 Direct
Depreciation and amortisation - - - 50 179 229 Direct
Occupancy and supplies 2 1 25 (7) 311 332 Direct
Legal and professional (4) 2 51 19 84 152 Direct
Bank charges and exchange
differences 24 - 26 5 (38) 17 Direct
Mortgage interest - - - 15 54 69 Direct
1,495 554 9,070 429 4,765 16,313 -
Allocation of support costs
Raising funds - - 3,040 96 (3,136) - -
Charitable activities (see Note 7) 1,065 535 - 29 (1,629) - -
Allocation of support costs 1,065 535 3,040 125 (4,765) - -
2,560 1,089 12,110 554 - 16,313 -
Governance costs are made up as follows:
Board (see Note 11) 7 -
Statutory audit (see Note 8) 66 -
Management 356 -
429 -
----- End of picture text -----

57 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

6. EXPENDITURE (CONTINUED)

----- Start of picture text -----
2024
2024 Costs of 2024 Funding 2024 Advocacy, 2024 2024
generating to overseas Programme education and Governance Support
funds programmes support costs research costs costs 2024 Total
£’000 £’000 £’000 £’000 £’000 £’000 £’000
Raising funds 10,079 - - - 616 2,788 13,483
Charitable activities (see Note 7) - 45,394 2,524 1,645 269 1,460 51,292
Total resources expended 10,079 45,394 2,524 1,645 885 4,248 64,775
----- End of picture text -----

----- Start of picture text -----
2024 2024 Advocacy, 2024 Costs of 2024 2024
Cost incurred in the Programme education and generating Governance Support
United Kingdom: support costs research funds costs costs 2024 Basis of Allocation
£’000 £’000 £’000 £’000 £’000 £’000
Salaries 2,094 880 5,211 660 1,791 10,636 Direct
Employment benefits 97 27 121 61 251 557 Direct
Temporary staff - 38 345 40 67 490 Direct
Training - - 4 - 41 45 Direct
Recruitment 25 5 27 30 113 200 Direct
Travel and subsistence 88 38 188 15 24 353 Direct
Advertising and awareness raising - 97 779 - - 876 Direct
Research and consultancy 84 167 543 35 229 1,058 Direct
Other marketing
and communications 28 342 2,530 3 192 3,095 Direct
Equipment maintenance and rental 3 24 73 4 767 871 Direct
Depreciation and amortisation - - - - 186 186 Direct
Occupancy and supplies 19 18 37 7 372 453 Direct
Legal and professional 21 6 44 23 84 178 Direct
Bank charges and
exchange differences 65 3 177 7 31 283 Direct
Mortgage interest - - - - 100 100 Direct
2,524 1,645 10,079 885 4,248 19,381 -
Allocation of support costs
Raising funds - - 2,710 78 (2,788) - -
Charitable activities (see Note 7) 950 477 - 33 (1,460) - -
Allocation of support costs 950 477 2,710 111 (4,248) - -
3,474 2,122 12,789 996 - 19,381 -
----- End of picture text -----

----- Start of picture text -----
Governance costs are made up as follows:
Board (see Note 11) 2 -
Statutory audit (see Note 8) 66 -
Management 817 -
885 -
----- End of picture text -----

58 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

7A. CHARITABLE ACTIVITIES

----- Start of picture text -----
Restricted Unrestricted 2025 Restricted Unrestricted 2024
£’000 £’000 £’000 £’000 £’000 £’000
Support was given to the following
regions (including donated goods
and services)
East Africa 16,095 542 16,637 13,756 307 14,063
Southern Africa 11,622 408 12,030 7,689 247 7,936
West Africa 2,846 100 2,946 1,857 96 1,953
Asia 4,693 165 4,858 2,619 81 2,700
Latin America 516 17 533 936 64 1,000
Middle East/Eastern Europe 15,104 529 15,633 17,118 624 17,742
Total cost of overseas programmes 50,876 1,761 52,637 43,975 1,419 45,394
Programme support costs 723 772 1,494 1,137 1,387 2,524
Allocation of advocacy, education 268 286 554 741 904 1,645
and research
Allocation of governance 35 38 73 121 148 269
Allocation of support costs 788 841 1,629 658 802 1,460
52,690 3,698 56,388 46,632 4,660 51,292
----- End of picture text -----

World Vision UK’s share of the programme costs of World Vision International which are not country specific are included above in proportion to the charity’s remittances to World Vision International for each region.

59 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

7B. PARTNER ORGANISATIONS

Most of our expenditure to overseas programmes for development, relief and advocacy were made to the regions listed in note 7a through World Vision International to World Vision partner entities. We also made payments for overseas programmes through non-World Vision partners.

----- Start of picture text -----
Partner organisations 2025 2024
£’000 £’000
World Vision Austria 152 115
World Vision Australia 130 -
World Vision VisionFund 37 -
World Vision International 46,002 40,236
Payments to World Vision Partnership entities 46,321 40,351
Danish Refugee Council (25) 300
- -
World Food Programme
Action Against Hunger 2,954 2,048
BBC Media 974 986
Action Aid 1,678 854
Stichting SNV Nederlandse Ontwikkelingsorganisatie 381 59
Rural Initiative for Community Empowerment (12) 150
International Food Policy Research Institute 112 -
Care International 40 -
Initiative for social and economic rights 10 42
Save The Children - 150
Stichting ZOA - 187
Oxfam - 159
HelpAge International - 100
Institute of Development Studies 48 -
Johns Hopkins 21 -
GOAL Sierra Leone 50 -
ACTED 10 -
CONEPT (5) -
- -
Columbia University
Coalitiion Nationale de L’Education Pour Tous - 5
Education Coalition of Zimbabwe - 3
- -
50 Eight Ltd
People in Need 80 -
Payments to non-World Vision organisations 6,316 5,043
Total payments for overseas programmes 52,637 45,394
----- End of picture text -----

60 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

8. NET INCOME/(EXPENDITURE)

----- Start of picture text -----
2025 2024
£’000 £’000
This is stated after charging:
Depreciation/amortisation of - 229 186
owned assets
Loss on disposal of fixed assets - 1 -
Operating lease rentals – equipment - 55 72
Interest payable on mortgage loans - 69 100
Auditor’s remuneration - statutory 66 61
audit
- other 5 13
----- End of picture text -----

9. OPERATING LEASE COMMITMENTS

The charity’s total future minimum lease payments under non-cancellable operating leases is as follows for each of the periods:

----- Start of picture text -----
Property Equipment
2025 2024 2025 2024
£’000 £’000 £’000 £’000
Less than one year - - 46 55
One to five years - - 29 72
- - 75 127
----- End of picture text -----

10. EMPLOYEE COSTS

----- Start of picture text -----
2025 2024
£’000 £’000
Aggregate payroll costs were as follows:
Wages and salaries 8,250 9144
Social security costs 903 913
Other pension costs 509 579
9,662 10,636
----- End of picture text -----

Redundancy costs are paid in cash and accounted for on an accruals basis, at the point a firm commitment is made and redundancy is confirmed in writing. Redundancy costs amounted to £590,000 during the year (2024: £219,000).

61 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

10. EMPLOYEE COSTS (CONTINUED)

----- Start of picture text -----
Number Number
The number of employees whose total employee benefits (excluding employer pension
2025 2024
costs and Employer National Insurance Contributions) fell into the following bands:
60,001 – 70,000 10 11
70,001 – 80,000 1 2
80,001 – 90,000 1 1
90,001 – 100,000 2 3
- -
100,001 – 110,000
- -
110,001 – 120,000
120,001 – 130,000 - 1
- -
130,001 – 140,000
- -
140,001 – 150,000
150,001 – 160,000 1 -
----- End of picture text -----

The key management personnel of the charity comprise the Trustees, the Chief Executive Officer, Chief Financial Officer, Chief Fundraising Marketing Officer, Director of Policy, Programmes and Impact, Director of Business Transformation, (Acting) Chief People Officer. The total remuneration and benefits including pension contributions and Employer National Insurance Contributions of the key management personnel was £625,000 (2024: £768,000). An interim Chief Financial Officer was appointed during a period of maternity leave; as the interim was a contractor, their costs are excluded from the key management personnel remuneration.

The highest paid employee is the Chief Executive Officer who remuneration and benefits including pension contributions and Employer National Insurance Contributions during 2025 was £158,000 (2024: £130,000).

The functional analysis of average monthly staf numbers is: Number Number
Fundraising and supporter communication 102 107
Programme support 22 39
Advocacy, education and research 9 16
Support and governance 46 42
179 204

While the charity supports and controls its overseas programmes from the UK, implementation is performed through field-based partners, mostly members of the World Vision Partnership. This means that the charity does not employ staff to implement programmes and a large proportion of the charity’s staff raise funds for those programmes and work with its supporters.

11. TRUSTEES’ REMUNERATION

The charity reimbursed Trustees for costs incurred in carrying out their duties and made similar payments direct to third parties on their behalf, during 2025: £7,100, 13 Trustees (2024: £2,400, 5 Trustees).

Indemnity insurance is provided for the Trustees and Principal Officers of the charity. Premiums paid totalled £34,000 (2024: £34,000).

62 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

12. TANGIBLE FIXED ASSETS

The cost of freehold land amounting to £670,000 (2024: £670,000) is not depreciated.

Freehold land
and building		 Computer and
ofce equipment		 Fixtures and
fttings		 Total
£’000 £’000 £’000 £’000
Cost:
At 1 October 2024 7,050 266 625 7,941
Additions - 22 60 82
Disposals - (97) (77) (174)
At 30 September 2025 7,050 191 608 7,849
Depreciation:
At 1 October 2024 2,672 197 373 3,242
Charge for the year 128 38 63 229
Disposals - (97) (77) (174)
At 30 September 2025 2,800 138 359 3,297
Net book value:
At 30 September 2025 4,250 53 249 4,552
At 1 October 2024 4,378 69 252 4,699

13. INVESTMENTS

All fixed asset investments are held within the UK.

The charity holds the entire issue of share capital of one £1 share in World Vision Trading Limited. World Vision Trading Limited is a private company, limited by shares, incorporated in England and Wales (company number: 11460148). The company is a wholly owned subsidiary of the charity, its ultimate parent undertaking and controlling party. The company has no employees or premises of its own, and the address of its registered office is World Vision House, Opal Drive, Fox Milne, Milton Keynes, MK15 0ZR. The company has three statutory directors, consisting of two members of World Vision UK key management, and one trustee of World Vision UK. All transactions between World Vision UK and World Vision Trading Limited are conducted on an arm’s length basis. Profits retained by World Vision Trading Limited are periodically donated to its parent undertaking.

As at 1 October 2023 World Vision Trading Limited is not trading and the company is dormant. There are no current plans to close the company, and it will be retained in the event that it is required to complete trading activities on behalf of World Vision UK in the future.

63 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

13. INVESTMENTS (CONTINUED)

----- Start of picture text -----
2025 2024
£’000 £’000
Financial investments
Common investment funds held by the charity
Market value at 1 October 2,076 1,845
Net investment gains (32) 232
Market value at 30 September 2,044 2,077
Historical cost at 30 September 452 452
----- End of picture text -----

14. DEBTORS

----- Start of picture text -----
2025 2024
£’000 £’000
Institutional grants receivable 1,034 2,531
Amounts owed by other World Vision entities 40 2,776
Tax recoverable 88 30
Prepayments and accrued income (including legacy income) 883 507
Other debtors 83 119
2,128 5,963
----- End of picture text -----

15. CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR

----- Start of picture text -----
2025 2024
£’000 £’000
Mortgage loan (see also note 17) 361 361
Amounts owed to other World Vision entities 643 137
Accruals 634 1,572
Taxation and social security 301 332
Other creditors 538 278
2,477 2,680
----- End of picture text -----

Included within ‘Other creditors’ are outstanding pension contributions amounting to £71,000 (2024: £81,000). There was no deferred income during the year (2024: none).

64 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

16. CREDITORS AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The mortgage loan is secured on the charity’s property and is repayable over 25 years from October 2003. Interest is charged at SONIA (Sterling Overnight Index Average) plus 0.82%.

----- Start of picture text -----
2025 2024
£’000 £’000
Mortgage loan repayable between 1–5 years 722 1,083
- -
Mortgage loan repayable in more than 5 years
Total liabilities due after more than 1 year 722 1,083
----- End of picture text -----

17. FINANCIAL INSTRUMENTS

----- Start of picture text -----
2025 2024
Financial assets £’000 £’000
Financial assets measured at fair value through income and expenditure 2,044 1,644
Financial assets measured at amortised cost 11,715 14,987
13,759 16,631
----- End of picture text -----

Financial assets measured at fair-value through income and expenditure comprise common investment funds. Financial assets measured at amortised cost comprise cash at bank, trade debtors and accrued income. Financial liabilities measured at amortised cost comprise trade creditors, accruals and other creditors.

The entity’s income, expense, gains and losses in respect of financial instruments are summarised below:

----- Start of picture text -----
Income, expense, gains and losses 2025 2024
£’000 £’000
Total investment (loss) income for financial assets measured at fair value through income and (31) 232
expenditure
Net gains on financial assets measured at amortised cost through income 250 396
and expenditure
----- End of picture text -----

65 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

18. FUNDS

The transfer between the General Fund and the designated Tangible Fixed Assets Fund represents net movements on fixed assets and the related loan. The General Fund at 30 September 2025 includes cumulative net unrealised gains on investments of £1,592,000 (2024: unrealised gain of £1,624,000).

----- Start of picture text -----
Restricted funds Unrestricted funds Total
Tangible Fixed General Fund
Asset Fund
£’000 £’000 £’000 £’000
Balance at 2,401 2,830 10,642 15,873
1 October 2024
Income 55,721 - 10,948 66,669
Expenditure (52,675) (120) (11,980) (64,775)
Transfers between funds - 545 (545) -
Net unrealised investment gain - - 232 232
Balance at 2024 5,447 3,255 9,297 17,999
Represented by:
Fixed assets - 4,698 - 4,698
Investments - - 2,044 2,077
Debtors 2,531 - 3,432 5,963
Cash at bank and in hand 3,053 - 5,971 9,024
Creditors: amounts falling due within one year (137) (360) (2,183) (2,680)
Creditors: amounts falling due after more than one year - (1,083) - (1,083)
Balance 5,447 3,255 9,297 17,999
at 2024
----- End of picture text -----

66 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

18. FUNDS (CONTINUED)

----- Start of picture text -----
Restricted funds Unrestricted funds Total
Tangible Fixed
General Fund
Asset Fund
£’000 £’000 £’000 £’000
Balance at 1 October 2024 5,447 3,255 9,297 17,999
Income 55,695 - 10,399 66,094
Expenditure (58,769) - (10,181) (68,950)
Transfers between funds - 214 (214) -
Net unrealised investment loss - - (31) (31)
Balance of funds at 2,373 3,469 9,270 15,112
30 September 2025
Represented by:
Fixed assets - 4,552 - 4,552
Investments - - 2,044 2,044
Debtors 1,762 - 366 2,128
Cash at bank and in hand 1,254 - 8,332 9,586
Creditors: amounts falling due within one year (643) (361) (1,473) (2,477)
Creditors: amounts falling due after more than one year - (722) - (722)
Balance of funds at 30 September 2025 2,373 3,469 9,270 15,112
Restricted funds Balance 2023 Income Expenditure Transfers Balance
between 2024
funds
£’000 £’000 £’000 £’000 £’000
East Africa (4,042) 16,745 (16,061) - (3,358)
Southern Africa (280) 10,681 (9,979) - 422
West Africa 1,231 3,150 (3,032) - 1,349
Asia (114) 3,529 (3,097) - 318
Latin America 481 1,127 (1,127) - 481
-
Middle East/Eastern Europe (3,231) 14,819 (18,487) (6,899)
-
Cross-regional initiatives 8,356 5,670 (892) 13,134
Total 2,401 55,721 (52,675) - 5,447
----- End of picture text -----

67 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

----- Start of picture text -----
Restricted funds [5] Balance 2024 Income Expenditure Transfers Balance
between 2025
funds
£’000 £’000 £’000 £’000 £’000
East Africa (3,358) 15,700 (17,736) - (5,394)
Southern Africa 422 11,615 (12,956) - (919)
West Africa 1,349 3,064 (3,801) - 612
Asia 318 4,760 (5,179) - (101)
Latin America 481 591 (574) - 498
Middle East/Eastern Europe (6,899) 15,405 (15,688) - (7,182)
Cross-regional initiatives 13,134 4,560 (2,835) - 14,859
Total 5,447 55,695 (58,769) - 2,373
----- End of picture text -----

BELOW IMAGE Sisters outside their home in Bangladesh (left to right): Priya, 11, Reshma, 11, Ashma, 8) and Shapna, 8. © 2025 Laura Reinhardt/World Vision

5 Where the restricted income we receive is not country specific it is initially held in Cross Regional Initiatives for subsequent allocation to the regions when project expenses are confirmed. Timing differences arise between expenditure and the transfers being actioned contributing to negative regional balances. On the basis that the funds held within the Cross Regional Initiatives fund exceed the value of the negative restricted funds, we are satisfied that the negative balances will be recovered either through future fundraising or a transfer from the Cross Regional Initiatives fund.

68 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

19. COMMITMENTS AND CONTINGENT LIABILITIES

Pension commitments

The charity operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the charity in a group personal pension scheme, for which the charity has no responsibility other than regular contributions on behalf of employees.

Contingent liabilities

There were no contingent liabilities at year end (2024: none)

20. TAXATION

As a registered charity the company is exempt from taxation on its income and gains to the extent that they are applied for its charitable purposes.

21. RELATED PARTY TRANSACTIONS

Marcus Frost is World Vision International’s Partnership Leader, Marketing and Communications and World Vision International President’s representative member on the Board of World Vision UK.

The charity remitted £46,002,000 (2024 £ 40,236,000) to World Vision International, £152,000 (2024: £115,000) to World Vision Austria, £130,000 (2024: £Nil) to World Vision Australia and £37,000 (2024: £Nil) to World Vision, Vision Fund to fund overseas programme costs (see also Note 7b) and charged £64,000 (2024: £64,000) for office space, IT and payroll services.

At the end of the year, World Vision International and its partner entities owed the charity £40,000 (2024: £2,776,000), see Note 14. World Vision UK owed World Vision International and its partner entities £643,000 (2024: £173,000), see Note 15. The charity has one subsidiary, World Vision Trading Limited, which was dormant in the year. There are no other related party transactions or balances other than those above.

ABOVE IMAGE Jovia Ruth, 12, plays with friends outside her school in Northern Uganda, which has benefited from a motorised clean water system. © 2025 Matthew Kisa /World Vision

69 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

AUDITOR’S REPORT

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF WORLD VISION UK

Opinion

We have audited the financial statements of World Vision UK for the year ended 30 September 2025, 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company’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.

70 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

71 WORLD VISION ANNUAL REPORT & ACCOUNTS 2025

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement set out on page 43, 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in 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 design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified the principal risks of non-compliance with laws and regulations related to compliance with the regulations of the Charity Commission and Fundraising Regulator, and Charity and Company Law applicable in England and Wales we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, as well as compliance with the taxation environment.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate revenue recognition and management bias in areas of accounting estimate. Audit procedures performed by the engagement team included:

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Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Harper (Senior Statutory Auditor)

For and on behalf of HaysMac LLP, Statutory Auditors 10 Queen Street Place London, EC4R 1AG 27th February 2026

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TRUSTEES, PRINCIPAL OFFICERS AND ADVISERS BOARD OF TRUSTEES Chief People Officer

Chief People Officer

Jude Addo (to February 2025)

Ann Kiceluk (to March 2025)

Rachel Blanshard Sarah Bissell Tim Chong Andrew Darfoor Marcus Frost Alex Harris

Douglas Millican, Board Chair

Abisola Mustapha Maduakor Mark Parsons, Vice Chair (to February 2025)

Director of Business Transformation

Jony Francis

AUDITORS

HaysMac LLP

10 Queen Street Place London EC4R 1AG

BANKERS

Rev Canon David Richards (to February 2025)

Catherine Taylor Nicolette Robinson

COMPANY SECRETARY

Barclays Bank plc

PO Box 885 Mortlock House Station Road Histon Cambridge CB4 9ZX

Alex Morley

Allica Bank Limited

PRINCIPAL OFFICERS

Chief Executive

4th Floor 164 Bishopsgate London EC2M 4LX

Fola Komolafe

Registered Office

Director of Policy and Programmes

David Westwood

Chief Marketing & Fundraising Officer

World Vision House Opal Drive Fox Milne Milton Keynes MK15 0ZR

Don Esson

Chief Financial Officer

Gary McDonald (Interim)

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JOIN US

Throughout 75 years of humanitarian work, we’ve been privileged to work with millions of children across the world.

Their futures have become brighter thanks to their communities’ determination, our dedicated local staff and people like you – our supporters – who give, take action and pray with us.

Together, we’re a part of something bigger than ourselves; creating greater change and making a longer-lasting difference to children’s futures.

WHAT COULD YOU DO TODAY?

Sponsor a child

Through dedicated giving, you ensure real change throughout a child’s life, in their family and their whole community. Long-term partnership with the community, made possible by Child Sponsorship, leads to sustainable transformation across generations.

To sponsor a child today: Tel: 0800 50 10 10 worldvision�org�uk/child-sponsorship

Help children to survive, recover and build a future

By giving monthly to World Vision you can support our ongoing work wherever the need is greatest. Did you know that in an emergency, thanks to regular donations, we can provide the immediate essential support children need? And we stay, to help them recover from trauma and equip them to build their future.

Donate today at: worldvision�org�uk/donate

Shape your legacy

A gift in your will to World Vision is a simple, compassionate act that will be felt around the world for generations to come. It’s a special way to ensure your values live on in a legacy of hope and love.

To find out more and request a free Gifts in Wills pack: Tel: 01908 84 10 60 Email: legacies@worldvision�org�uk

Pray with us

Our prayer newsletter, Together Amen, shares updates and requests for prayer from many of the communities we’re working with. Join us to guide your prayers when disasters or emergencies occur, see long-term transformation happening in people’s lives, and stay up to date with prayer events.

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Your church and World Vision

As part of the Church, we treasure partnership with local churches. Your church can change the lives of the world’s most vulnerable children and grow in its own discipleship through reflection and prayer for global issues. Look for our free resources, at Lent and Advent, as well as children’s autumn favourite Pumpkin Heroes.

To find out more: worldvision�org�uk/churches

Partnerships with impact

If you’re considering a substantial partnership with us, our dedicated relationship managers can work with you. Whether via a charitable trust or foundation, as a company or church, or through private philanthropy, we’d be delighted to talk to you about working together to create lasting change.

Email us philanthropy@worldvision�org�uk or call 01908 84 10 30

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World Vision volunteers help spread the word about World Vision at events and festivals around the UK. To find out more about becoming a volunteer, email events@worldvision�org�uk

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