Company number: 02082273 Charity number: 296073
World Association for Christian Communication
Report and financial statements For the year ended 31 December 2024
World Association for Christian Communication
Contents
For the year ended 31 December 2024
Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent auditor’s report ....................................................................................................... 12 Statement of financial activities (incorporating an income and expenditure account) ................... 17 Balance sheet ............................................................................................................................... 18 Statement of cash flows ................................................................................................................ 19 Notes to the financial statements ................................................................................................. 20
World Association for Christian Communication
Reference and administrative information
For the year ended 31 December 2024
Company number 02082273 Country of incorporation United Kingdom Charity number 296073 Country of registration England & Wales Registered office and First Floor, 10 Queen Street Place, London, EC4R 1BE operational address United Kingdom
Trustees Trustees, who are also Trustees under company law, who served during the year and up to the date of this report were as follows:
Embert Charles President Mathilde Kpalla Vice President Juha Rajamäki Treasurer Rania Rashad William Vice President Netani Rika Vincent Rajkumar Corinne Barnes Gregg Brekke Alba Sabaté Gauxachs David Morales Alba James McDonnell Key management Philip Lee General Secretary personnel Sarah Speicher Deputy General Secretary Joseph Patterson Financial Controller Bankers NatWest Bank 135 Bishopsgate, London EC2M 3UR Solicitors Bates Wells 10 Queen Street Place, London EC4R 1BE Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110 Golden Lane, London EC1Y 0TG
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
The trustees present their report and the audited financial statements for the year ended 31 December 2024.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a Trustees’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Objectives and activities
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
Purposes and aims
The objects of the Charity are for the public benefit:
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The prevention and relief of poverty;
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The promotion of sustainable development;*
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The promotion of gender equality;
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The promotion of human rights, particularly but not exclusively those rights defined in Article 19 of the Universal Declaration of Human Rights; and
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The promotion of religious harmony throughout the world, as an expression of the Christian faith, in particular (but without limitation) through promoting access to communication. *Sustainable development means “development which meets the needs of the present without compromising the ability of future generations to meet their own needs.” In furthering the above objects, the Charity shall work in cooperation with people of all faiths and none.
Grant-making through The World Association for Christian Communication’s (WACC’s) small project fund programme (DIP/CAP) plays a central role in enabling WACC to advance communication rights under the five priority areas, both in terms of “on the ground” change and in terms of broader awareness raising at the regional and international levels. The five priority areas in 2024 were: Gender and communication rights; Migration and communication rights; Indigenous communication rights; Climate change and communication rights; and Digital communication rights.
The DIP/CAP enables grassroots and mid-level organizations in DAC list countries to approach WACC with their own project ideas seeking to address issues that they themselves have identified. These organizations in turn implement activities for the benefit of their respective target groups. Common target groups include community broadcasters (men and women), youth leaders (men and women), rural development community leaders (men and women), Indigenous communication networks, networks of civil society researchers, women’s groups, etc. Building on the learnings
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
stemming from these in-country projects, DIP/CAP partner organizations are expected to engage in key movement-building activities, such as strategic planning and collaboration with allies, capacity building, knowledge production and dissemination, public engagement, and advocacy, among others.
In this context, in addition to supporting its DIP/CAP project partners with funding, WACC provides support and advice in terms of project design, networking strategy, and knowledgesharing in order to ensure that DIP/CAP-supported projects are not simply isolated projects happening across the world, but part of a more cohesive network of projects that together demonstrate the need to integrate communication and information issues into broader development work.
Achievements and performance
WACC has long fought for the principle of communication for all, in which people and communities are empowered to be seen and heard and which underpins any attempt to bring about genuine social progress. Today’s context is one in which the capabilities of digital technologies have increased exponentially to a point where around 70% of the global population is now online. However, accessibility and affordability are biased in favour of developed countries. Elsewhere, barriers such as high data costs and digital illiteracy impact primarily the poor and women, particularly those in rural areas. In parallel, the rise of populist or right-wing politics in many countries has drastically reduced the public space for counter speech or dissent; governments have weaponised digital communication technologies; Internet shutdowns and attacks on independent journalism and journalists have multiplied; and Big Tech has gained unprecedented political influence and power.
Communication rights remain an aspiration in a world where civil society participation in governance spaces is increasingly restricted, and the voices of civil society actors have been marginalized. In addition, digital technologies are being used for state surveillance, and social media are being used to disseminate misinformation, disinformation, fake news, and hate speech.
In the light of the above, WACC countered with support for and in partnership with 55 communication projects (8 in the Middle East, 13 in Africa, 8 in Asia, 2 in Europe, 22 in Latin America, and 2 in the Caribbean). Of these, 10 were under Gender and Communication, 11 under Indigenous Rights, 14 under Climate Justice and Communication,7 under Communication Rights and Migration, and 13 under Digital Communication Justice. WACC provided additional support to promote the active engagement of its partners in networks advancing communication rights for sustainable development.
With the aid of Evangelical Lutheran Church in America, WACC worked with the Asia Pacific Mission for Migrants to launch a 3-year project to address the communication and information needs of migrants in the Asia Pacific region. The focus countries were Philippines, Indonesia, Nepal, Cambodia, South Korea, Hong Kong, Thailand, and Malaysia. Migrant organizations, faith-based organizations, and advocates in migrant-sending and receiving countries created an online
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
community of care and protection for migrants and migrant workers. It developed digital tools and platforms providing rights awareness, vital and accurate information on migration and trafficking, and highlighting experiences and best practices.
With the aid of Primate's World Relief and Development Fund (PWRDF), Canada, and in partnership with the Latin American Association for Community and People’s Education, WACC continued implementation of a major project in Brazil, Colombia, and Ecuador to strengthen the community radio sector to be better positioned to advance climate and environmental justice across the Amazon region. The core beneficiaries are a group of 36 (50% women) citizen environmental journalists, who will train an additional 5 people in their communities, bringing the total number of expected direct beneficiaries to at least 180 (50% women). A significant percentage of participants are from Indigenous, peasant, and Afro-descendant communities.
With the support of PWRDF and in partnership with Grupo Comunicarte (Colombia), WACC continued implementation of a project to strengthen the community radio sector serving people in the Andean Moorland (Paramo) ecosystem, which plays a vital role in the water cycle and the storage of carbon dioxide. The core group of beneficiaries was a group of 12 (50% women) citizen environmental journalists, from community radio partners.
Internationally, WACC was active in advocacy to create more balanced public narratives related to migration during the 2024 Global Forum on Migration and Development (GFMD). WACC organized a side-event as part of its work with the GFMD working group on public perceptions and invited project partners from the Philippines and Jordan to speak. WACC followed up with an online “conversation circle” involving 4 speakers and 65 participants.
With the support of the World Council of Churches and Evangelische Mission Weltweit, WACC developed educational and advocacy resources on digital justice, including a webinar series on AI, You and Your Organization and an online self-directed course, Just Digital. The courses have directly attracted over 200 communicators and multipliers with further language versions and additional sessions in development for 2025.
WACC held a consultation of project partners in Nepal organized in alliance with AMARC AsiaPacific and focused on digital justice. Participants from 17 countries gave valuable input to the World Summit on the Information Society+20 process, agreeing that digital resources need to be democratized and that governance decisions about digital technologies must prioritize the public interest over private profits.
In preparation for the Summit of the Future and WSIS+20, WACC participated in several meetings of civil society actors led by the Association for Progressive Communications (APC) and IT4Change to coordinate strategies and plans of action. WACC also participated in NetMundial+20 and the G20 Preparatory Meeting on Information Integrity, as well as in the WSIS+20 High Level event in Switzerland where it also organized a side-event on gender justice together with the Global Alliance on Media and Gender (GAMAG).
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
Beneficiaries of our services
WACC’s builds bridges north, south, east and west. WACC’s initiatives and expertise benefit marginalised groups in countries in the global South in particular, including women and children, indigenous and ethnic minorities, refugees, people with disabilities, and those suffering poverty and discrimination. WACC carries out its initiatives in close collaboration with communication practitioners at the local (community-based organisations), national (non-government organizations and development organisations), regional (its own and other regional associations and partners), and international levels. The ultimate beneficiaries are people and communities who are denied their basic human and communication rights. This applies to the Global North as well as to the Global South, including urban and rural poor, women, people living in countries with little respect for communication rights, and others.
WACC's institutional goal of strengthening societies in which all people can engage in transparent, informed, and democratic debate, develop sustainable livelihoods, and enjoy basic rights and entitlements will be met in part through all the initiatives outlined above. WACC’s aims to ensure that its activities, projects, and advocacy are focused on promoting and supporting the communication rights of all, especially the poorest, most excluded and most vulnerable people and communities. This goal is realised through (1) Advocacy for communication rights, (2) Capacity-building for civil society organisations promoting and strengthening communication rights, and (3) Building bridges, networks, and partnerships.
Financial review
The Charity ended 2024 with Net Assets of £20,684 (2023: £51,052), which was down 59.96% due to the decrease in restricted funds expended on the projects for which they were reserved.
As a Group, 2024 ended with a Net Assets of £387,237 (2023: £469,941) which was down 17.60% due to an operating loss of £82,703 for the year. This loss was primarily due to project and operating expenses exceeding funding received during the period.
The Group had revenue totalling £1,339,756 (2023 £1,124,604) primarily in the forms of grants and contributions. Revenue increased 19% year over year while expenses increased 7% to £1,422,459 (2023: £1,329,309) due primarily to higher project and contract services costs.
There is a Donor Advised Fund held by Aqueduct Foundation on behalf of and controlled by the Canadian subsidiary. This fund is invested in a mutual fund to generate income and has Net Assets of CAD $3,432,974 as at 31 December 2024 (2023: $3,223,417) which is up 6.5%. These funds may be drawn down to support the operating or general funding needs of the Group. A minimum of 4% must be drawn down each year by Canadian statute.
The Group ended 2024 with a cash reserve of £414,174 (2023: £510,561) of which £183,347 are donor restricted funds or liabilities tied to projects that will be completed in the future. The remainder of these reserves are available to cover operating expenditures in the following years.
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
Principal risks and uncertainties
Management has engaged staff and the board in a risk assessment review. The principal risks and uncertainties identified by the directors are (1) death or severe illness of CEO; (2) death or severe illness of senior staff; (3) unplanned or unexpected departure of CEO or senior staff; (4) major funder significant reduction in funding; (5) failure of digital information storage system; (6) access to confidential electronic documents; (7) internal fraud; (8) loss of credibility due to conflict of interest; (9) lack of due diligence by the board; (10) government regulations, surveillance and/or pressure.
The directors’ plans and strategies for managing these risks are: (1) Emergency Leadership Planning policy in place. Trained staff members to act in interim. Officers to start search committee. Policy prevents senior staff from travelling in same long-distance conveyance. (2) Administrative procedures are documented and accessible. Knowledge of main tasks shared between staff. Other staff members (or short-term replacements) to act in interim until replaced. (3) Emergency Leadership Planning policy and procedures are in place including the appointment of a Deputy General Secretary. (4) Staff continue to seek diversification of funding sources; maintenance of budget stabilization fund using accumulated net assets. (5) Daily offsite data backup. Firewall, security and anti-malware software in place. Backup server moved to offsite location. IT policy in place. IT professionals on call as necessary. Firewall, security and antimalware software in place. Backup server moved to offsite location. (6) Confidential documents stored on a separate server partition. Hard copies locked in office. (7) Operational procedures require separate and multiple authorisations for significant financial transactions. Regular changes in auditors. (8) Conflict of interest and conduct of business policies in place. (9) Orientation for responsibilities of Board members regularly provided at face-to-face meeting. Provided with Handbook for Directors. Guidance reviewed as necessary with changes in regulations. Director consent forms. (10) Regular review to ensure compliance with regulations. In Canada, WACC’s expenditure is reviewed by the Canada Revenue Agency.
In addition, WACC or its partners may attract adverse criticism and/or obstruction from politically conservative-minded governments or institutions that view communication rights as running counter to their economic or social policies. Governments and corporations in particular sometimes feel threatened by claims for greater social justice. In this respect, WACC works closely with its partners to anticipate and to mitigate potential ill effects.
Reserves policy and going concern
The Charity does not have a reserves policy but does have some cash reserves which it draws on as necessary to fund its operations. There is also a cash reserve at the subsidiary which is similarly used. Additionally, the subsidiary has a Donor Advised Fund held by Aqueduct Foundation on behalf of and controlled by it. This fund is invested in a mutual fund to generate income and has Net Assets of CAD $3,432,974 as of 31 December 2024 (2023: CAD $3,223,417). These funds may be drawn down to support the operating or general funding needs of the Group. A minimum of 4% must be drawn down each year by Canadian statute.
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
Fundraising
Fundraising is supervised by the General Secretary and reviewed by the Board of Trustees. To different degrees, fundraising is the responsibility of all staff, who are primed to identify new and ongoing sources of grants for action by the appropriate person. The Board approves an annual budget on the basis of known income, but which includes potential expenditure subject to grants being received. WACC does not pay for professional fundraisers. From time to time, WACC launches a public appeal for funds among its members and partners worldwide. Management keeps a running record of Fundraising Actions, which is reviewed by the Finance Committee and/or Board, and which documents who was approached, for what reason, and the outcome.
In 2024, there was no instance of non-compliance with codes and no complaints were received. WACC does not make use of third parties for fundraising, but it does rely on Trustees and members to identify possible sources.
Plans for the future
In a world facing multiple political and economic crises, with development aid being cut and a riot of misinformation and fake news destabilizing political and societal structures, WACC seeks to strengthen the application of communication rights to efforts to implement and to protect key principles of social justice and sustainable development. WACC believes that the struggle against poverty, hunger, climate change, civil conflict, gender-based discrimination and violence, and for a just digital future depends on people having the right affordably to access media, digital platforms, and AI, to receive and produce communication content, to express themselves freely, and to receive the training needed to use effectively all tools of human communication. It also requires a media sector regulated for the common good that includes public service, civil society (community) and private sector media, and is not dominated by big tech and markets alone.
In 2025-26, and in pursuit of the outcomes of the World Summit on the Information Society (WSIS+20) taking place in July 2025, WACC will continue to work towards achieving greater social justice via four main strategies:
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Strengthening the capacity of grassroots communities to identify and implement action lines emerging from the UN Global Digital Compact and WSIS+20 that enable them to claim rights and entitlements and to advance digital justice.
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Countering the pushback on gender equality in and through the world’s media with advocacy based on the results of the 2025 Global Media Monitoring Project (GMMP) and creating a global gender-focused observatory of social media.
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Advancing rights-based and social justice-oriented digital communication and information ecosystems that promote trust, democratic civic participation, and meaningful inclusion of marginalized groups.
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Assessing media and communication trends from the perspectives and realities of communities both South and North to inform collaborative advocacy.
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
A crucial area of communication rights has always been that of public interest journalism, i.e. the sources that people turn to in order to form opinions about matters of democratic governance. Digital media provide new platforms and formats for disseminating information and allow for the creation of alternative online communities. However, with social-networking platforms now a major source of news, information, and disinformation, WACC will advocate for strengthening the role of independent public interest media. This is especially crucial in the light of events in Ukraine, Palestine/Israel, Sudan, Myanmar, and other countries where media freedom and the rule of law are under attack.
Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 9 December 1986 and registered as a charity on 4 March 1987.
The company was established under a memorandum of association which set out the objects and powers of the charitable company and is governed under its articles of association.
All trustees give their time voluntarily and receive no benefits from the charity. The trustees delegate day-to-day management to its General Secretary, Philip Lee, and a senior staff team consisting of the Deputy General Secretary, Sarah Speicher, and Financial Controller, Joseph Patterson.
Appointment of trustees
The Board of Trustees comprises up to 14 Trustees (Trustees), consisting of one trustee nominated by each regional association (up to 10), the President, Treasurer, General Secretary, and a Trustee resident in England and Wales. There are currently eight regional associations.
Every four years the President is elected by Members of the Association upon nomination of names and by a simple majority vote taken by ballot following the process prescribed in the Byelaws. Every four years the Board of Trustees also appoints a Treasurer from among the Members of the Association, and two Vice-Presidents from among the Members of the Board of Trustees. Of these four Officers, not more than three can be of the same sex and at least one must be a resident of a Region other than North America or Europe.
The Board of Trustees has the power to appoint up to two Trustees who are not nominated by the Regional Associations by resolution of the Board. These two Trustees are in addition to the Treasurer and a trustee resident in England and Wales.
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
Trustee induction and training
WACC has a Handbook for Trustees framed around responsibilities identified by the Institute of Trustees as follows:
“The role of trustee is one of stewardship. Trustees are responsible for managing, or supervising the management of, the corporation. Trustees have complete discretion to exercise their powers as they deem appropriate, subject to the constraints imposed by law. Each trustee must act honestly and in good faith with a view to the best interests of the corporation and must exercise the care, diligence, and skill that a reasonably prudent person would exercise in comparable circumstances. Delegation is permitted with certain exceptions and must be reasonable in the circumstances, but responsibility for major decisions and the exercise of general discretion will always be the responsibility of the Trustees.
The board’s responsibility for strategic planning and monitoring opportunities and risk is critical. This responsibility involves more than merely adopting a strategic planning process. The board should be responsible for developing the corporation’s strategic direction by approving a strategic plan that identifies business opportunities and business risks. The board should oversee management’s systems for managing business risk and periodically review the strategic environment with management.
In order for a board of Trustees to discharge its responsibilities, it must not only be aware of and approve the general direction and plans of the corporation, but it must also be satisfied that the plans that it has approved are being effectively implemented and that appropriate internal and external monitoring and audit systems are in place to ensure that the corporation’s affairs are being run responsibly. This is done, in part, by reviewing and approving materials such as strategic plans, operating plans and budgets, and by seeking and relying on the advice of experts, both from within the ranks of the corporation’s management and from outside the corporation.”
From time to time and when necessary (e.g. after the appointment of new trustees), an induction session takes place at the beginning of a board meeting, which includes an introduction to WACC’s operational policies. Trustees have access to a website where all policies and official documents are located.
Remuneration policy for key management personnel
The Board of Trustees is responsible for setting the remuneration of the General Secretary and Deputy General Secretary. On the recommendation of the General Secretary, the Board also approves a general pay framework for other employees. WACC also contracts consultants. The current criteria are those for the charitable sector in Canada and the practice of the United Church of Canada.
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
Statement of responsibilities of the trustees
The trustees (who are also Trustees of The World Association for Christian Communication for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company or group for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgements and estimates that are reasonable and prudent
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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There is no relevant audit information of which the charitable company’s auditor is unaware.
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The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2024 was 179 (2023: 230). The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
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World Association for Christian Communication
Trustees’ annual report
For the year ended 31 December 2024
Auditor
Sayer Vincent LLP was appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.
The Trustees’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
The trustees’ annual report has been approved by the trustees on 3 July 2025 and signed on their behalf by
Juha Rajamäki Treasurer
Philip Lee General Secretary
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Independent auditor’s report
To the members of
World Association for Christian Communication
Opinion
We have audited the financial statements of World Association for Christian Communication (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 December 2024 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the 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 FRS 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:
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Give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 December 2024 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended
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Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
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Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011
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 group financial statements section of our report. We are independent of the group and parent 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 World Association for Christian Communication'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.
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Independent auditor’s report
To the members of
World Association for Christian Communication
Other Information
The other information comprises the information included in the trustees’ annual report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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The information given in the trustees’ annual report, for the financial year for which the financial statements are prepared is consistent with the financial statements
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The trustees’ annual report, including the strategic report, has been prepared in accordance with applicable legal requirements
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:
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Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
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The parent charitable company financial statements are not in agreement with the accounting records and returns; or
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Certain disclosures of trustees’ remuneration specified by law are not made; or
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We have not received all the information and explanations we require for our audit; or
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The Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.
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Independent auditor’s report
To the members of
World Association for Christian Communication
Responsibilities of trustees
As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the Trustees of the parent 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 group’s and the parent 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 group or the parent 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
We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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 are set out below.
Capability of the audit in detecting irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
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We enquired of management and the board of trustees, which included obtaining and reviewing supporting documentation, concerning the group’s policies and procedures relating to:
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Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
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Independent auditor’s report
To the members of
World Association for Christian Communication
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Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
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The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
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We inspected the minutes of meetings of those charged with governance.
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We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience.
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We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
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We reviewed any reports made to regulators.
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We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
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We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
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In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
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 regulation. 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 is available 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 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. 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.
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Independent auditor’s report
To the members of
World Association for Christian Communication
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.
Noelia Serrano (Senior statutory auditor)
29 July 2025
for and on behalf of Sayer Vincent LLP, Statutory Auditor
110 Golden Lane, LONDON, EC1Y 0TG
Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006
16
World Association for Christian Communication
Consolidated statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 December 2024
| 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| Note | £ | £ | £ | £ | £ | £ | |
| Income from: | |||||||
| Donations and other income | 2 | 678,939 | 660,817 | 1,339,756 | 642,431 | 482,173 | 1,124,604 |
| Total income | 678,939 | 660,817 | 1,339,756 | 642,431 | 482,173 | 1,124,604 | |
| Expenditure on: | |||||||
| Raising funds | 3 | 37,327 | - | 37,327 | 38,311 | - | 38,311 |
| Charitable activities | 3 | 711,596 | 673,536 | 1,385,132 | 749,846 | 541,152 | 1,290,998 |
| Total expenditure | 748,923 | 673,536 | 1,422,459 | 788,157 | 541,152 | 1,329,309 | |
| Net expenditure for the year | 4 | (69,984) | (12,719) | (82,703) | (145,726) | (58,979) | (204,705) |
| Transfers between funds | - | - | - | - | - | - | |
| Net expenditure before other recognised | |||||||
| gains and losses | (69,984) | (12,719) | (82,703) | (145,726) | (58,979) | (204,705) | |
| Net expenditure & net movement in funds | 13 | (69,984) | (12,719) | (82,703) | (145,726) | (58,979) | (204,705) |
| Reconciliation of funds: | |||||||
| Total funds brought forward | 344,584 | 125,357 | 469,941 | 490,310 | 184,335 | 674,645 | |
| Total funds carried forward | 274,600 | 112,637 | 387,237 | 344,584 | 125,357 | 469,941 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 13a to the financial statements.
17
World Association for Christian Communication
Company no. 02082273
Balance sheets
As at 31 December 2024
| Note Fixed assets: 9 Current assets: 10 Liabilities: 11 13a Total unrestricted funds Total funds Creditors: amounts falling due within one year Net current assets Cash at bank and in hand Tangible assets General funds Debtors Net assets Funds: Restricted income funds Unrestricted income funds: Designated funds |
2024 2023 £ £ 2,125 2,597 2,125 2,597 41,649 33,528 414,174 510,561 455,823 544,089 (70,711) (76,745) 385,112 467,344 387,237 469,941 112,637 125,357 - - 274,600 344,584 274,600 344,584 387,237 469,941 The group |
2024 2023 £ £ 2,125 2,597 2,125 2,597 41,649 33,528 414,174 510,561 455,823 544,089 (70,711) (76,745) 385,112 467,344 387,237 469,941 112,637 125,357 - - 274,600 344,584 274,600 344,584 387,237 469,941 The group |
2024 £ - The |
2023 £ - charity |
|---|---|---|---|---|
| 2,125 41,649 414,174 |
2,597 33,528 510,561 |
- 15,557 57,705 |
- 292,238 45,717 |
|
| 455,823 (70,711) |
544,089 (76,745) |
73,262 (52,578) |
337,955 (286,903) |
|
| 385,112 | 467,344 | 20,684 | 51,052 | |
| 387,237 | 469,941 | 20,684 | 51,052 | |
| 112,637 - 274,600 |
125,357 - 344,584 |
48,513 - (27,829) |
36,302 - 14,750 |
|
| 274,600 | 344,584 | (27,829) | 14,750 | |
| 387,237 | 469,941 | 20,684 | 51,052 |
Approved by the trustees on 3 July 2025 and signed on their behalf by
Juha Rajamäki Treasurer
Philip Lee General Secretary
18
World Association for Christian Communication
Consolidated statement of cash flows
For the year ended 31 December 2024
| Note £ Net expenditure for the reporting period (82,703) (as per the statement of financial activities) Depreciation charges 472 (Increase) / Decrease in debtors (8,122) (Decrease) in creditors (6,035) Net cash (used in) operating activities Cash and cash equivalents at the end of the year Cash and cash equivalents at the beginning of the year Change in cash and cash equivalents in the year Change in cash and cash equivalents due to exchange rate movements Cash flows from operating activities |
£ £ £ (204,705) 3,549 8,208 (367,105) (96,388) (560,053) (96,388) (560,053) 510,561 1,073,110 1 (2,497) 414,174 510,561 2024 2023 |
£ £ £ (204,705) 3,549 8,208 (367,105) (96,388) (560,053) (96,388) (560,053) 510,561 1,073,110 1 (2,497) 414,174 510,561 2024 2023 |
|---|---|---|
| (560,053) | ||
| (560,053) 1,073,110 (2,497) |
||
| 510,561 |
19
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
- 1 Accounting policies
a) Statutory information
The World Association for Christian Communication is a charitable company limited by guarantee and is incorporated in the United Kingdom and Canada.
The registered office address is First Floor, 10 Queen Street Place, London, EC4R 1BE, United Kingdom
b) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
These financial statements consolidate the results of the World Association for Christian Communication UK ("WACC UK" or "the charity") and the charity, World Association for Christian Communication Canada ("WACC Canada"), of which WACC UK is the sole member and therefore controls WACC Canada. Transactions and balances between the charity and WACC Canada have been eliminated from the consolidated financial statements. Balances between the two entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
- c) Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
d) Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The Group has enough reserve funds and core funding agreement in place to ensure its status as a going concern beyond 2024.
e) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, 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.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
f) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
- g) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
h) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
-
Other expenditure represents those items not falling into any other heading
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
20
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
-
1 Accounting policies (continued)
-
i) Allocation of support costs
Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.
Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.
j) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
-
Computer equipment and software
-
Furniture and equipment
33% reducing balance method
10 years straight line method
k) 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.
m) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
l) 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.
m) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value
n) Foreign currencies
Assets and liabilities in foreign currencies are translated to sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.
- 2 Income from donations and legacies
| Income from donations and legacies | ||||||
|---|---|---|---|---|---|---|
| Cost Recovery & Other Income Rental & Hosting Income Donations and grants |
Unrestricted £ 386,406 269,373 23,160 |
£ 660,817 - - Restricted |
2024 Total £ 1,047,224 269,373 23,160 |
Unrestricted £ 370,671 229,828 41,932 |
£ 482,173 - - Restricted |
2,023 Total £ 852,844 229,828 41,932 |
| 678,939 | 660,817 | 1,339,756 | 642,431 | 482,173 | 1,124,604 |
21
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
- 3a Analysis of expenditure (current year)
Charitable activities
| Direct Project Costs Contract Services Rent & utilities Networking & Public Outreach Professional fees Maintenance Services Insurance Travel & Accomodations Office Expenses Governance Expenses Interest & Bank Charges Realized (Gains)/Losses Telephone Depreciation Dues & Subscription Support costs Governance costs Staff costs (note 5) Total expenditure 2024 Total expenditure 2023 |
Raising funds £ 20,328 - 12,276 723 425 1,599 - 453 354 152 - 36 716 - 24 242 |
DIP/CAP £ - 489,873 - - - - - - - - - - - - - - |
ELCA £ - 92,541 - - - - - - - - - - - - - - |
GMMP & GAMAG £ - - - - - - - - - - - - - - - - |
OPM £ - 16,797 - - - - - - - - - - - - - - |
PWRDF £ - 57,528 - - - - - - - - - - - - - - |
Other Projects £ - 15,899 - - - - - - - - - - - - - - |
Governance costs £ 12,197 - 7,365 434 255 960 - 272 212 91 3,282 21 430 - 14 145 |
Support costs £ 374,035 - 225,869 13,308 7,823 29,425 - 8,329 6,515 2,796 - 657 13,180 - 434 4,445 |
2024 Total £ 406,560 672,638 245,510 14,465 8,503 31,984 - 9,053 7,082 3,039 3,282 714 14,326 - 472 4,831 |
2023 Total £ 418,254 503,146 227,397 29,468 8,319 28,556 5,863 10,994 7,846 4,416 59,941 1,658 14,429 1,769 3,549 3,705 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 37,327 - - |
489,873 566,327 21,173 |
92,541 13,868 518 |
- 5,429 203 |
16,797 18,995 710 |
57,528 41,836 1,564 |
15,899 40,362 1,509 |
25,678 - (25,678) |
686,816 (686,816) - |
1,422,459 - - |
1,329,309 - - |
|
| 37,327 | 1,077,373 | 106,928 | 5,632 | 36,502 | 100,928 | 57,769 | - | - | 1,422,459 | 1,329,309 | |
| 38,311 | 1,057,215 | 22,504 | 6,228 | 29,970 | 110,694 | 64,386 | - | - |
22
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
3a Analysis of expenditure (prior year)
Charitable activities
| Direct Project Costs Contract Services Rent & utilities Networking & Public Outreach Professional fees Maintenance Services Insurance Travel & Accomodations Office Expenses Governance Expenses Interest & Bank Charges Realized (Gains)/Losses Telephone Depreciation Dues & Subscription Support costs Governance costs Staff costs (note 5) Total expenditure 2023 |
Raising funds £ 20,913 - 11,370 1,473 416 1,428 293 550 392 221 - 83 721 88 177 185 |
DIP/CAP £ - 407,578 - - - - - - - - - - - - - - |
ELCA £ - 6,596 - - - - - - - - - - - - - - |
GMMP & GAMAG £ - - - - - - - - - - - - - - - - |
OPM £ - 8,181 - - - - - - - - - - - - - - |
PWRDF £ - 62,704 - - - - - - - - - - - - - - |
Other Projects £ - 18,087 - - - - - - - - - - - - - - |
Governance costs £ 12,548 - 6,822 884 250 857 176 330 235 132 59,941 50 433 53 106 111 |
Support costs £ 384,794 - 209,205 27,110 7,653 26,271 5,394 10,114 7,218 4,062 - 1,526 13,275 1,628 3,265 3,408 |
2023 Total £ 418,254 503,146 227,397 29,468 8,319 28,556 5,863 10,994 7,846 4,416 59,941 1,658 14,429 1,769 3,549 3,705 |
|---|---|---|---|---|---|---|---|---|---|---|
| 38,311 - - |
407,578 581,258 68,379 |
6,596 14,233 1,674 |
- 5,572 656 |
8,181 19,496 2,293 |
62,704 42,939 5,051 |
18,087 41,426 4,873 |
82,928 - (82,928) |
704,924 (704,924) - |
1,329,309 - - |
|
| 38,311 | 1,057,215 | 22,504 | 6,228 | 29,970 | 110,694 | 64,386 | - | - | 1,329,309 |
23
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
- 4 Net expenditure for the year
This is stated after charging / (crediting):
| This is stated after charging / (crediting): | ||
|---|---|---|
| 2024 | 2,023 | |
| £ | £ | |
| Depreciation | 472 | 3,549 |
| Operating lease rentals: | ||
| Property | 14,465 | 27,773 |
| Auditor's remuneration (excluding VAT): | ||
| Audit (UK) | 12,000 | 10,400 |
| Audit (Canada) | 11,253 | 11,612 |
- 5 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Staff costs were as follows:
| Staff costs were as follows: | ||
|---|---|---|
| Social security costs Salaries and wages |
2024 £ 382,753 23,807 |
2,023 £ 394,699 23,555 |
| 406,560 | 418,254 |
The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:
| 2024 | 2,023 | ||
|---|---|---|---|
| No. | No. | ||
| £60,000 | - £69,999 | 1 | 1 |
| £80,000 | - £89,999 | 1 | 1 |
| £90,000 | - £99,999 | 1 | 1 |
The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £103,876 (2023: £94,772).
The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).
Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2023: nil) members relating to attendance at meetings of the trustees.
6 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was 6 (2023: 6).
7 Related party transactions
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
24
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
8 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
| 9 At the end of the year The group Tangible fixed assets Eliminated on disposal At the end of the year At the start of the year Charge for the year At the start of the year Additions in year Cost Depreciation At the end of the year Net book value Disposals in year At the start of the year |
Furniture and equipment £ 100,956 - - |
Computer equipment £ 52,238 - () |
Leasehold improvements £ - - - |
Total £ 153,194 - () |
|---|---|---|---|---|
| 100,956 | 52,238 | - | 153,194 | |
| 98,359 472 - |
52,238 () - |
- - - |
150,597 472 - |
|
| 98,831 | 52,238 | - | 151,069 | |
| 2,125 | - | - | 2,125 | |
| 2,597 | - | - | 2,597 |
All of the above assets are used for charitable purposes.
The charity does not hold any assets.
25
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
| For theyear ended 31 December 2024 | ||||
|---|---|---|---|---|
| 10 11 Creditors: amounts falling due within one year Debtors Prepayments Trade debtors Trade creditors and accruals |
2024 £ 27,954 13,695 The |
2023 £ 25,994 7,533 group |
2024 £ 14,206 1,351 The |
2023 £ 292,238 - charity |
| 41,649 | 33,527 | 15,557 | 292,238 | |
| 2024 £ 70,711 The |
2023 £ 76,745 group |
2024 £ 52,578 The |
2023 £ 286,903 charity |
|
| 70,711 | 76,745 | 52,578 | 286,903 |
12a Analysis of group net assets between funds (current year)
| 12b Net assets at 31 December 2024 Analysis of group net assets between funds (prior year) Net assets at 31 December 2023 Tangible fixed assets Net current assets Net current assets Tangible fixed assets |
£ 2,125 272,475 General unrestricted |
Restricted funds £ - 112,637 |
Total funds £ 2,125 385,112 |
|---|---|---|---|
| 274,600 | 112,637 | 387,237 | |
| £ 2,597 341,986 General unrestricted |
Restricted funds £ - 125,357 |
Total funds £ 2,597 467,343 |
|
| 344,584 | 125,357 | 469,940 |
26
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
| 13a Restricted funds: Total restricted funds Total designated funds General funds Total General funds Designated funds: Bread for the World - core budget grant CAP Partners Co-funding Operating funds (CA) GMMP & GAMAG Grants ELCA Grant Movements in funds (current year) CAP Bread for the World funding PWRDF Grant Total unrestricted funds Other restricted funds OPM Waldensian Church Unrestricted funds: Total funds Legacy funds (UK) |
At 1 January £ - 63,595 - - - 22,508 39,254 |
Income & gains £ 16,797 363,636 96,857 58,447 100,725 - 24,355 |
Expenditure & losses £ (16,797) (393,016) (96,857) (57,528) (92,541) - (16,797) |
Transfers £ - - - - - - - |
At 31 December 2024 £ - 34,215 - 919 8,184 22,508 46,812 |
|---|---|---|---|---|---|
| 125,357 | 660,817 | (673,536) | - | 112,637 | |
| - | 386,406 | (386,406) | - | - | |
| - | 386,406 | (386,406) | - | - | |
| 51,052 293,532 |
22,013 270,521 |
(52,380) (310,136) |
- - |
20,684 253,916 |
|
| 344,584 | 292,533 | (362,517) | - | 274,600 | |
| 344,584 | 678,939 | (748,923) | - | 274,600 | |
| 469,941 | 1,339,756 | (1,422,459) | - | 387,238 |
The narrative to explain the purpose of each fund is given at the foot of the note below.
27
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
13b Movements in funds (prior year)
| Movements in funds (prior year) | |||||
|---|---|---|---|---|---|
| Total restricted funds Total designated funds General funds Total General funds Bread for the World - core budget grant Legacy funds (UK) CAP Partners Co-funding OPM Waldensian Church Unrestricted funds: Designated funds: Total funds Other restricted funds GMMP & GAMAG Grants Bread for the World - CAP PWRDF Grant ELCA Grant Restricted funds: Operating funds (CA) Total unrestricted funds |
At 31 December 2022 £ - 73,449 - 1,853 6,596 23,145 79,293 |
Income & gains £ 8,181 268,729 128,994 60,851 - - 15,417 |
Expenditure & losses £ (8,181) (278,584) (128,994) (62,704) (6,596) (637) (55,456) |
Transfers £ - - - |
At 1 January 2024 £ - 63,595 - - () 22,508 39,254 |
| 184,335 | 482,173 | (541,152) | - | 125,357 | |
| - | 370,671 | (370,671) | - | - | |
| - | 370,671 | (370,671) | - | - | |
| 132,187 358,123 |
- 271,760 |
(81,135) (336,351) |
- | 51,052 293,532 |
|
| 490,310 | 271,760 | (417,486) | - | 344,584 | |
| 490,310 | 642,431 | (788,157) | - | 344,584 | |
| 674,645 | 1,124,604 | (1,329,309) | - | 469,940 |
Purposes of restricted funds
All restricted funds are listed by the specific named donor. These funds were granted for the purpose of carrying out specific projects or programmes under agreement with each donor agency. If the funds are not spent and accounted for, as agreed in the contract with the donor, they are refundable. The transfer of funds from General to Restricted relates mostly to staffing cost allocation directly to suport projects.
Purposes of designated funds
Bread for the World, in addition to funding the CAP and DIP programmes, also grants funding for the core budget which are designated to be used for general operation. These funds are allocated by year and are fully utilized in the year for which they were designated.
14 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
28
World Association for Christian Communication
Notes to the financial statements
For the year ended 31 December 2024
15. Parent charity
The parent charity's gross income and the results for the year are disclosed as follows:
| 2024 | 2,023 | |
|---|---|---|
| £ | £ | |
| Gross income | 22,013 | 15,417 |
| Result for the year | (230,296) | (256,651) |
16. Subsidiary undertaking
The charity is the sole member of World Association for Christian Communication Canada ("WACC Canada") and therefore controls WACC Canada, a charity registered in Canada. The company's Corporate Number is 438311-7 and the charity number or BN/registration number is 839709524RR0001. The registered office address is 308 Main Street, Toronto, Ontario, Canada M4C 4X7.
All activities have been consolidated on a line-by-line basis in the statement of financial activities.
The trustees, Embert Charles –President, Stephen Brown -Treasurer, Glory Dharmaraj -Director, Kristine GreenawayDirector and Philip Lee -General Secretary are the trustees of the subsidiary.
A summary of the results of the subsidiary is shown below:
| A summary of the results of the subsidiary is shown below: | ||
|---|---|---|
| Operating Grants & Contributions Occupancy & Rental Costs Payroll & Contract Services Expenses Net Assets Total net assets brought forward Excess of revenues over expenditures Total net assets carried forward Excess of revenues over expenditures The aggregate of the assets, liabilities and reserves was: Assets Liabilities Reserves Amounts owed to parent undertaking Total Expenditure Public Outreach & Networking Exchange (Gain) or Loss Programme Grants & Contributions Self-Generated Income Total Revenue General & Administrative (G&A) Expenses Direct Project Expenses |
2024 £ 621,876 514,948 180,919 |
2023 £ 474,623 449,865 200,747 |
| 1,317,743 230,682 14,282 459,415 11,512 639,942 (6,679) |
1,125,235 199,825 34,924 489,146 16,432 475,251 1,181 |
|
| 1,349,155 (31,412) 418,888 (31,412) |
1,216,758 (91,523) 421,357 (91,523) |
|
| 387,477 | 329,834 | |
| 413,782 (27,653) |
736,238 (406,405) |
|
| 386,129 | 329,834 | |
| (6,633) | 57,571 |
29