CHARITY REGISTRATION NUMBER 298807 COMPANY REGISTRATION NUMBER 02218996
## **ALIVE PUBLISHING LIMITED**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
## **ALIVE PUBLISHING LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr M M Conway|
|---|---|
||Mrs C Kormoczy|
||Mrs M T Mazur|
||Ms J M Moorhead|
|**Charity number**|298807|
|**Company number**|02218996|
|**Registered office**|Office Suite|
||28-29 Brookside Business Park|
||Cold Meece|
||Stone|
||ST15 0RZ|
|**Independent examiner**|M Mealing BSc FCCA|
||UHY Hacker Young|
||6 Broadfield Court|
||Broadfield Way|
||Sheffield|
||S8 0XF|
|**Solicitors**|Knights 1759|
||The Brampton|
||10 St John Street|
||Newcastle Under Lyme|
||Staffordshire|
||ST5 0QW|
## **ALIVE PUBLISHING LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 7|
|Independent examiner's report|8|
|Statement of financial activities|9|
|Balance sheet|10 - 11|
|Statement of cash flows|12|
|Notes to the financial statements|13 - 27|
## **ALIVE PUBLISHING LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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)" (effective 1 January 2019).
## **Objectives and activities**
The objects of the charity are the advancement anywhere in the world of the Christian/Catholic religion and other such purposes (being charitable purposes according to the laws of England) as the trustees shall in their discretion think fit. The strategies employed to achieve the charity's objectives are to: Publish magazines, books, newspapers and other resources (DVDs) which teach, educate, inform and celebrate Christian/Catholic faith.
The major areas of activity are:
## **Bible Alive:**
The Limited Company with charitable status began in a single garage in the Catholic parish of Our Lady Immaculate, Commercial Rd, London E14 2RZ.
Mike Conway was sales and marketing manager and his employment began on June 1 1988. He was joined by two newly qualified medical doctors. Together they distributed and marketed The Word Among Us (TWAU) a subscription list of 300 which previously the nuns from Turvey Abbey, Bedfordshire had administrated but had not marketed.
Mike Conway launched a sales and marketing campaign which resulted in remarkable growth of subscriptions from 300 to 3000 in the first year. In addition, the team from Limehouse had secured impressive sales of the Advent, Lent and Easter edition of 25,000 each season.
In 1989 the office moved from the East End to an office in Harlow and from Harlow to an office in Cambridge. In 1995 The Word Among Us based in Gaithersburg, Maryland, lost the Imprimatur Nihil Obstat from the diocese of Washington DC and the Trustees make the decision to launch Bible Alive appointing Mike Conway as the Managing Editor.
Bible Alive was launched in June 1996. It is Trademarked and has a monthly readership of 50,000. In 2021 we celebrated our 25th Anniversary and in 2026 it will celebrate its 30th anniversary. The essence of the magazine is the daily reflection on one of the daily Mass readings which are written by a team of writers, both clerical and lay. Many of the writers have degrees and further degrees in theology and philosophy and are the backbone of the monthly content.
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## **ALIVE PUBLISHING LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
In addition, the Managing Editor sources stories from journalists from around the world which have a cutting edge feel and address issues very much in the national headlines as well as biographies of saints and heroes of faith.
Bible Alive is our flagship publication and our focus is growing both print and digital subscriptions through direct and e-marketing, social media and often most effective of all, word of mouth.
Bible Alive is marketed directly to parishes which in turn generates individual subscriptions. The closure of churches during the Covid 19 pandemic impacted on parish sales and we have launched a concerted campaign to recover parish orders and create new parish orders. The winding up of the two Catholic newspapers, The Universe and the Catholic Times means that Bible Alive is among only a few publications marketed directly to parishes in the UK and Ireland. We have a passion for print and digital formats and promote both platforms with equal commitment and energy.
## **Walk With Me:**
Walk With Me is a seasonal prayer and scripture resource published in a collaboration with Archbishop Vincent Nichols when he was Archbishop of Birmingham in 2001. Walk with Me covers the seasons of Advent, Lent and Easter. The booklet is available at national, diocesan level and international level. The print runs for Advent, Lent and Easter exceed 100,000, and 50,000 respectively.
The following Catholic dioceses order Walk With Me.
- Archdiocese of Birmingham,
- Archdiocese of Cardiff, Diocese of Menevia.
- Diocese of Salford
- Diocese of Nottingham
- Diocese of East Anglia
We send a sample copy of Walk with Me with an order form to every parish and school in the UK and Ireland.
## **Book and Gifts (Mail order business):**
We quickly learnt on publishing Bible Alive in 1996 that our readers appreciated books reviews and titles we highlighted and recommended.
Today have a thriving book and gift business which includes an eclectic choice of books and gifts. We have a contacted based in Bethlehem from whom we source cribs and icons.
The success of our book and gift business is rooted in print publishing a catalogue three times a year: autumn, spring and summer and directing customers to our website. We also use e-marketing and campaigns on certain select titles.
Further investment of time, money and expertise into the website is on the horizon - our goal is to be a kind of Catholic Amazon where customers can source a wide range of books, resources, and hardware (cribs, rosaries, icons).
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## **ALIVE PUBLISHING LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **International Prison Outreach:**
Since its launch in 1996, Bible Alive readers have responded generously to the plight of prisoners. This began when Mike Conway interviewed a prisoner serving life for murder in Fetherstone HMP for the Lent 1997 edition. This article alone generated over £30,000 and resulted in us sending Bible Alive into prisons both in the UK, Ireland a abroad.
Alive Publishing invites its' readers to donate to its' work with prisoners and prison chaplains all over the world. Bible Alive readers send in donations so that we can send subscriptions to the Bible Alive magazine to prisoners, as well as providing Bibles and other Christian literature to encourage and support prisoners in their faith. The launching of the Loose Change Jar and Bucket Campaign was well received. The Trustees are in discussion with prison professionals and pastoral care staff regarding the possibility of publishing a Bible exclusively for prisoners.
A fundraising initiative involving climbing the 4 highest Irish Peaks was hugely successful. With the help of a professional mountain climbing company 7 climbers rose to the challenge.
We carried advertising and marketing about the event in all our publications - our strap line was: Every Prisoner Deserves a Bible. The climb raised over £48,000 and more events like this are being planned. In a collaboration with the Bishops' Conference of England and Wales we have published a publication called Morning and Evening Prayer for Prisoners. We print 10,000 and distribute them to prion chaplains in England and Wales.
## **International Faith Outreach:**
This is an initiative to encourage readers of Bible Alive to donate funding so we in turn can send subscriptions, Bible and other resources to missionaries, Priests, religious catechists and other parish workers in the Third World.
## **Cheerful Giver Fund:**
This is a fund which encourages our readers and customers to donate so that we can provide resources to a wide range of marginalized groups who otherwise could not afford them: the unemployed, the recently bereaved, those made redundant, those living on benefits etc.
## **St Chad's Cathedral Website:**
We constructed, run and maintain St Chad's Cathedral Website and work closely with the Dean of the Cathedral and his team to provide updates and news items.
## **Book Publishing:**
We have published over 50 titles since the launch of Bible Alive in June 1996. Our readers and customers are especially responsive to books published under our banner.
## **Print and Design Service:**
From time to time we are approached by customers and parishes to design and print a variety of products ranging from business cards to Order of Services to prayer cards.
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## **ALIVE PUBLISHING LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Public benefit:**
In setting plans and priorities for areas of work, the trustees have followed the latest guidance from the Charity Commission on the provision of public benefit, in accordance with section 17 of the Charities Act 2011.
Much consultation has been had between the Charity Commission and religious charities in relation to the question of public benefit and the trustees are encouraged that the Commission acknowledges the intangible spiritual benefits that the charity works to provide. In particular, the trustees consider how activities will contribute to meeting the objectives they have set and focus on the activities that will promote, teach, educate and inform people about the Christian Faith.
Directors of a charity have a duty to report in their annual report on their charity's public benefit. In setting plans and priorities to achieve its vision, the Charity's trustees have followed guidance from the Charity Commission on the provision of public benefit.
The trustees of Alive Publishing Limited confirm they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. Alive Publishing Limited is established for the public benefit of those who want to educate themselves on the benefits of the Christian Faith, including those prisoners that are benefiting from the International Prison Outreach programme and those in the third world that are benefiting from the International Faith Outreach programme.
The Trustees have considered this mater and concluded:
1) That the aims of the organisation continue to be charitable;
2) That the aims and the work done give identifiable benefits to the charitable sector and both indirectly and directly to individuals in need;
3) That the benefits are for the public, are not unreasonably restricted in any way and certainly not by ability to pay; and
4) That there is no detriment or harm arising from the aims or activities
## **Achievements and performance**
Alive Publishing Ltd was invited to collaborate with the Jubilee Committee as part of the Catholic Bishops Conference of England and Wales, which involved various meetings throughout the year with the plan to publish and distribute _The Jubilee Companion: Pilgrims of Hope_ . This publication was offered nationally, as well as diocesan bespoke versions, which proved to be a success across the board reaching sales of 90,000. This publication also represented a key achievement for the company, aligning closely with its mission to deliver high-quality, meaningful, faith-based content that engages and supports its readership and charitable objectives by also supplying this publication into prisons and further afield. The magazine was well received and effectively reached its intended readership, strengthening Alive Publishing Ltd.’s reputation within the sector and expanding its reach. Its successful delivery showcased the company’s ability to manage editorial development, production, and distribution efficiently, while contributing positively to its charitable objectives.
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## **ALIVE PUBLISHING LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Financial review**
The Statement of Financial Activities for the year ended 31 March 2025 shows income of £659,787 (2024: £706,834).
Expenditure amounted to £988,710 (2024: £634,003) The net effect of the above is that, over the year, the funds of the charity decreased by £328,923.
## I **nvestment policy and objectives**
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees wish. The trustees, having regard to the liquidity requirements of the charity and to the reserves policy, have operated a policy of keeping available funds in an interest-bearing deposit account seeking to achieve a rate of deposit interest which matches or exceeds inflation as measured by the retail prices index.
## **Reserves policy**
The trustees have established the level of unencumbered reserves (that is, those funds that are freely available, not invested in fixed assets, designated for specific purposes or otherwise committed) that the charity ought to have. Historically, in the early years of the charity, reserves were needed to bridge any gaps between spending on magazine production and receiving resources through subscription charges, as well as to allow for any other possible unforeseen expenditure. Given that the charity has now been in operation for over twenty-five years, then the ongoing nature of the subscription receipts makes the existence of gaps between spending and receiving monies more or less non-existent.
However, the trustees prefer to err on the side of caution and therefore consider that the required level of free reserves as of 31 March 2025 should continue to be £50,000. The unrestricted funds are currently in deficit as noted below but it is the aim of the charity to build these funds back up over the forthcoming years.
## **Fixed Assets**
In order to fulfil its charitable objectives, the charity needs to retain certain levels and categories of fixed assets and the fixtures and fittings and other contents of the charity's premises are all used in the work of the charity.
## **Going concern**
After making appropriate enquires, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **Funds in deficit**
The charity faces a deficit in unrestricted funds amounting to £116,103. This shortfall has arisen due to the recognition of an impairment loss of £249,000 during the year ended 31 March 2025 with the investment in the preference shares of Alive Publishing Trading UK Limited being written down to £nil. The overall level of reserves at 31 March 2025 was £53,809 and the Board of Trustees are confident that the level of unrestricted funds can be built up again over the forthcoming years.
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## **ALIVE PUBLISHING LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Principal risks and uncertainties**
The trustees have a formal risk management process to assess risks and implement risk management strategies. This involves the identification of the types of risk faced by a charity, assessing the likelihood and potential impact of occurrence and identifying means of mitigation. Risks have been categorised under five broad headings: Governance, Operational, Financial, External and Compliance. These were then assessed as to the likelihood of their occurring and the severity of the effects of the risk leading to a potential overall impact calculation to give a scale of relative importance or urgency to each one.
The current highest overall adverse impact risks identified relate to the potential effect on income of lapsation of the faithful and resultant reducing Mass attendances; of an increasingly ageing and therefore reducing number of clergy who are expected to undertake ever more administrative responsibilities, and adverse publicity in an increasingly secular society. The trustees have taken steps to mitigate these risks by working to develop new and emerging income streams to ensure that reserves are maintained. The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. The trustees believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide enough resources in the event of adverse conditions.
The trustees are responsible for providing reasonable assurance that:
- The charity is operating efficiently and effectively;
- Its assets are safeguarded against unauthorized use or disposition;
- Proper records are maintained and financial information used within the charity or for publication is reliable; and
- The charity complies with relevant laws and regulations.
## **Plans for future periods**
Focus on growing circulation of subscription-based publications: Bible Alive/Faith Today.
Drive and develop the book/gift/mail order business
Maximize on the marketing resource we have in our Oak system.
Focus on utilising the newly redesigned company website which has given us the platform form to promote and market our product range using new technology/social media but has also give our customers the opportunity to renew online, set up a direct debit or fill in a Gift Aid form with ease.
The intention for the future is to continue to meet the objectives of the charity as outlined above.
As part of the strategy to increase funding streams, further work is planned to increase the use of online giving through internet use and development of the charity's online presence.
## **Structure, governance and management**
Alive Publishing Limited is a company limited by guarantee and does not have any share capital. It is governed by its' Memorandum and Articles of Association dated 9th February 1988 and amended by Special Resolutions dated 20th October 1992; 3rd May 1996; 7th May 1998 and 10th August 2001. It is a charity registered with the Charity Commission and there are currently 4 members (6 in 2023), each of whom agree to contribute £1 in the event of the charity winding up. Trustees and directors are appointed by ordinary resolution.
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## **ALIVE PUBLISHING LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr M M Conway Mrs C Kormoczy Mrs M T Mazur Ms J M Moorhead
## **Recruitment and appointment of trustees**
The affairs of the charity are governed by the trustees and the Board has the power to appoint additional trustees as it considers fit to do so. When considering new trustees, the Board has regard to those with suitable qualifications and experience as well as the requirement for any specialist skills needed.
## **Induction and training of trustees**
New trustees are introduced to their role and responsibilities by existing board members and undergo an orientation day at which time relevant Charity Commission literature is issued together with copies of the trust deed and latest financial information available.
New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During the induction day, they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of the role, in regarding strategy and good governance.
The board of trustees is not limited by the maximum number of members. The board of trustees administer the charity. The board of trustees meets a minimum of twice a year and an experienced and suitably qualified management team is in place to manage the day to day business of the charity including all operational matters such as finance, employment and business development related activity.
## **Key management personnel and remuneration**
The Board of Trustees is ultimately in charge of directing and controlling the charity and ensuring that it is run and operated in a responsible and appropriate manner. The day-to-day management of the charity, however, is delegated to the Editor in Chief, Mr Michael Conway. All trustees give their time freely, and no trustee receives any remuneration in respect of the work undertaken in the role of trustee. Details of any related party transactions are disclosed in note 17 to the accounts.
Trustees are required to disclose all relevant interests and register them with the charity and in accordance with the charity's policy, withdraw from decisions where a conflict of interest arises.
The Trustees' report was approved by the Board of Trustees.
Mr M M Conway **Trustee**
23 January 2026
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6 Broadfield Court Broadfield Way Sheffield S8 0XF
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALIVE PUBLISHING LIMITED**
I report to the Trustees on my examination of the financial statements of Alive Publishing Limited (the charity) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **M Mealing BSc FCCA UHY Hacker Young**
## **Chartered Accountants**
Dated: 23 January 2026
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## **ALIVE PUBLISHING LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|---|
|||**funds**|**funds**||**funds**|**funds**||
|||**2025**|**2025**|**2025**|**2024**|**2024**|**2024**|
||**Notes**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Income and endowments from:**||||||||
|Donations and legacies|**3**|8,341|88,242|96,583|13,005|101,301|114,306|
|Charitable activities|**4**|562,368|-|562,368|592,292|-|592,292|
|Other income|**5**|836|-|836|236|-|236|
|**Total income**||571,545|88,242|659,787|605,533|101,301|706,834|
|**Expenditure on:**||||||||
|Charitable activities|**6**|864,769|123,941|988,710|517,981|116,022|634,003|
|**Total expenditure**||864,769|123,941|988,710|517,981|116,022|634,003|
|**Net income/(expenditure)**||||||||
|**and movement in funds**||(293,224)|(35,699)|(328,923)|87,552|(14,721)|72,831|
|**Reconciliation of funds:**||||||||
|Fund balances at 1 April 2024||177,121|205,611|382,732|89,569|220,332|309,901|
|**Fund balances at 31 March**||||||||
|**2025**||(116,103)|169,912|53,809|177,121|205,611|382,732|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## **ALIVE PUBLISHING LIMITED**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2025**
|**2025**
**2024**
**Notes**
**£**
**£**
**£**
**Fixed assets**
Intangible assets
**12**
1,028
Tangible assets
**13**
1,629
Investments
**14**
1,000
3,657
**Current assets**
Stocks
**15**
60,534
-
Debtors
**16**
141,438
120,532
Cash at bank and in hand
73,506
144,885
275,478
265,417
**Creditors: amounts falling due within**
**one year**
**17**
(225,326)
(133,900)
**Net current assets**
50,152
**Total assets less current liabilities**
53,809
**The funds of the charity**
Restricted income funds
**19**
169,912
Unrestricted funds
**20**
(116,103)
53,809|**£**
1,215
-
250,000|
|---|---|
||251,215
131,517|
||382,732|
||205,611
177,121|
||382,732|
- 10 -
## **ALIVE PUBLISHING LIMITED**
## **BALANCE SHEET (CONTINUED)**
## **AS AT 31 MARCH 2025**
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 23 January 2026
Mr M M Conway
## **Trustee**
Company registration number 02218996 (England and Wales)
- 11 -
## **ALIVE PUBLISHING LIMITED**
## **STATEMENT OF CASH FLOWS**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**24**
**Investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2025**
**£**
(1,916)|**£**
(69,463)
(1,916)
-
(71,379)
144,885
73,506|**2024**
**£**
-|**£**
62,014
-
-|
|---|---|---|---|---|
|||||62,014
82,871|
|||||144,885|
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **ALIVE PUBLISHING LIMITED**
## **1 Accounting policies**
## **Charity information**
Alive Publishing Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Office Suite, 28-29 Brookside Business Park, Cold Meece, Stone, ST15 0RZ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The trustees have considered the charity's ability to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements. During the year, the charity recognised a loss of £249,000 arising from the impairment of its investment in Alive Publishing Trading UK Limited. As a result, the total level of reserves have fallen to £53,809 with the unrestricted reserves being in deficit by £116,103.
The trustees have reviewed the cash flow forecasts and budgets for the period to March 2027 which indicate that the charity will continue to meet its liabilities as they fall due. The charity has no external borrowings and benefits from ongoing income streams from its various charitable activities. Accordingly, the trustees consider it appropriate. to prepare the financial statements on a going concern basis.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **1 Accounting policies**
**(Continued)**
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Intangible fixed assets other than goodwill**
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents and licenses
Patents are amortised over 10 years
## **1.7 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
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## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **1 Accounting policies**
## **(Continued)**
## **1.8 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the charity holds a longterm interest and where the charity has significant influence. The charity considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
## **1.9 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.10 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.11 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.12 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 15 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.13 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.14 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 16 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **3 Donations and legacies**
|**Unrestricted**|**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**||**Total**|
|---|---|---|---|---|---|---|---|
|**funds**||**funds**||**funds**|**funds**|||
|**2025**||**2025**|**2025**|**2024**|**2024**||**2024**|
|**£**||**£**|**£**|**£**|**£**||**£**|
|Donations and gifts|8,341|88,242|96,583|13,005|101,301||114,306|
|**Income from charitable activities**||||||||
|||||**Unrestricted**||**Unrestricted**||
|||||**funds**|||**funds**|
|||||**2025**|||**2024**|
||||||**£**||**£**|
|**Bible Alive subscriptions**||||||||
|Subscriptions|||||364,484||329,634|
|**Books and other sales**||||||||
|Books and other sales|||||117,868||90,558|
|**WWM sales**||||||||
|Pamphlet sales|||||74,804||165,561|
|**Design service**||||||||
|Design service|||||5,212||6,539|
||||||562,368||592,292|
- **4 Income from charitable activities**
## **5 Other income**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Investment income|836|236|
- 17 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **6 Charitable activities**
||**Bible Alive**|**Books and**|**Books and**|**WWM sales**|**Design**|**Total**|
|---|---|---|---|---|---|---|
||**Subscriptions**|**other**|**sales**||**service**||
||**2025**|**2025**||**2025**|**2025**|**2025**|
||**£**|**£**||**£**|**£**|**£**|
|Staff costs|58,065||21,249|30,616|1,056|110,986|
|Depreciation and impairment|249,380||-|94|-|249,474|
|Direct costs|105,738||48,905|74,828|57,606|287,077|
||413,183||70,154|105,538|58,662|647,537|
|**Share of support and governance costs (see note**||**7)**|||||
|Support|184,674||48,305|99,583|3,361|335,923|
|Governance|1,899||1,117|2,160|74|5,250|
||599,756|119,576||207,281|62,097|988,710|
|**Analysis by fund**|||||||
|Unrestricted funds|477,926|119,576||205,170|62,097|864,769|
|Restricted funds|121,830||-|2,111|-|123,941|
||599,756|119,576||207,281|62,097|988,710|
Included within depreciation and impairment costs of £249,380 is an impairment loss of £249,000 arising from the impairment write down of the investment in the preference shares of Alive Publishing Trading UK Limited.
- 18 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **6 Charitable activities**
|**Charitable activities**|||||**(Continued)**|
|---|---|---|---|---|---|
|**Previous year:**|**Bible Alive**|**Books and**|**WWM sales**|**Design**|**Total**|
||**subscriptions**|**other sales**||**service**||
||**2024**|**2024**|**2024**|**2024**|**2024**|
||**£**|**£**|**£**|**£**|**£**|
|Staff costs|25,480|-|-|-|25,480|
|Depreciation and impairment|8|-|7|-|15|
|Direct costs|275,831|82,786|151,332|6,010|515,959|
||301,319|82,786|151,339|6,010|541,454|
|**Share of support and governance**|**costs (see note 7)**|||||
|Support|51,498|14,153|25,872|1,026|92,549|
||352,817|96,939|177,211|7,036|634,003|
|**Analysis by fund**||||||
|Unrestricted funds|288,251|79,199|144,783|5,748|517,981|
|Restricted funds|64,566|17,740|32,428|1,288|116,022|
||352,817|96,939|177,211|7,036|634,003|
## **7 Support costs allocated to activities**
|**Support costs allocated to activities**|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Management|316,546|34,981|
|Finance|16,396|12,303|
|Other|2,981|25,480|
|Governance costs|5,250|19,785|
||341,173|92,549|
|**Analysed between:**|||
|Bible Alive subscriptions|186,573|51,498|
|Books and other sales|49,422|14,153|
|WWM sales|101,743|25,872|
|Design service|3,435|1,026|
||341,173|92,549|
Governance costs includes payments to the independent examiners of £5,250 (2024: £19,785).
- 19 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**8**|**Net movement in funds**|**2025**|**2024**||
|---|---|---|---|---|
|||**£**|**£**||
||The net movement in funds is stated after charging/(crediting):||||
||Depreciation of owned tangible fixed assets|287||-|
||Amortisation of intangible assets|187||15|
||Impairment of investments|249,000||-|
## **9 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **10 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**||
|---|---|---|---|
||**Number**|**Number**||
||5||5|
|**Employment costs**|**2025**|**2024**||
||**£**|**£**||
|Wages and salaries|105,573|25,049||
|Social security costs|3,535||-|
|Other pension costs|1,878||431|
||110,986|25,480||
There were no employees whose annual remuneration was more than £60,000.
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 20 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**12**|**Intangible fixed assets**||
|---|---|---|
|||**Patents and**|
|||**licenses**|
|||**£**|
||**Cost**||
||At 1 April 2024 and 31 March 2025|1,869|
||**Amortisation and impairment**||
||At 1 April 2024|654|
||Amortisation charged for the year|187|
||At 31 March 2025|841|
||**Carrying amount**||
||At 31 March 2025|1,028|
||At 31 March 2024|1,215|
|**13**|**Tangible fixed assets**||
|||**Plant and**|
|||**equipment**|
|||**£**|
||**Cost**||
||Additions|1,916|
||At 31 March 2025|1,916|
||**Depreciation and impairment**||
||Depreciation charged in the year|287|
||At 31 March 2025|287|
||**Carrying amount**||
||At 31 March 2025|1,629|
- 21 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **14 Fixed asset investments**
|||**Unlisted**||**Investment in**|**Investment in**|**Total**|**Total**|
|---|---|---|---|---|---|---|---|
|||**investments**||**Associate**||||
|||**£**||**£**||**£**||
||**Cost or valuation**|||||||
||At 1 April 2024 & 31 March 2025|249,000|||1,000|250,000||
||**Impairment**|||||||
||At 1 April 2024||-||-||-|
||Impairment losses|249,000|||-|249,000||
||At 31 March 2025|249,000|||-|249,000||
||**Carrying amount**|||||||
||At 31 March 2025||-||1,000||1,000|
||At 31 March 2024|249,000|||1,000|250,000||
||The investment in the associate, Alive|Publishing Trading UK Ltd comprises 34 ordinary shares|||||of £1|
||each and 249,000 preference shares of £1 each. During the year ended 31||March 2025 the investment in|||||
||the preference shares was fully written off and an impairment loss of £249,000 was recognised||||||in the|
||Statement of Financial Activities.|||||||
|||||**2025**||**2024**||
||Other investments comprise:|**Notes**||**£**||**£**||
||Investments in associates|**23**|||1,000||1,000|
|**15**|**Stocks**|||||||
|||||**2025**||**2024**||
|||||**£**||**£**||
||Finished goods and goods for resale|||60,534|||-|
The investment in the associate, Alive Publishing Trading UK Ltd comprises 34 ordinary shares of £1 each and 249,000 preference shares of £1 each. During the year ended 31 March 2025 the investment in the preference shares was fully written off and an impairment loss of £249,000 was recognised in the Statement of Financial Activities.
- 22 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|**16**|**Debtors**|||
|---|---|---|---|
|||**2025**|**2024**|
||**Amounts falling due within one year:**|**£**|**£**|
||Trade debtors|24,832|28,537|
||Other debtors|99,909|60,607|
||Prepayments and accrued income|16,697|31,389|
|||141,438|120,533|
## **17 Creditors: amounts falling due within one year**
|**17**|**Creditors: amounts falling due within one year**|||
|---|---|---|---|
|||**2025**|**2024**|
|||**£**|**£**|
||Trade creditors|92,542|860|
||Other creditors|4,992|7,787|
||Accruals and deferred income|127,792|125,253|
|||225,326|133,900|
|**18**|**Retirement benefit schemes**|||
|||**2025**|**2024**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to profit or loss in respect of defined contribution schemes|1,878|431|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 23 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **19 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 April**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At**|**31 March**|**31 March**|
|---|---|---|---|---|---|---|---|---|
||**2024**||**resources**|**expended**|||**2025**||
|||**£**|**£**|**£**|**£**|||**£**|
|||-|-|-||-||-|
|International Prison Outreach||80,910|71,294|(104,861)|48,671|||96,014|
|International Faith Outreach||18,272|8,595|(12,470)||-||14,397|
|Cheerful Giver||57,758|8,353|(6,610)||-||59,501|
|Four Peaks Challenge||48,671|-|-|(48,671)|||-|
|||205,611|88,242|(123,941)||-||169,912|
|**Previous year:**|**At 1 April**||**Incoming**|**Resources**|**Transfers**|**At**|**31 March**||
||**2023**||**resources**|**expended**|||**2024**||
|||**£**|**£**|**£**|**£**|||**£**|
|International Prison Outreach||104,498|82,540|(106,128)||-||80,910|
|International Faith Outreach||17,403|9,264|(8,395)||-||18,272|
|Cheerful Giver||50,052|9,205|(1,499)||-||57,758|
|Four Peaks Challenge||48,379|292|-||-||48,671|
|||220,332|101,301|(116,022)||-||205,611|
- 24 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **19 Restricted funds**
## **(Continued)**
## **International Prison Outreach:**
International Prison Outreach is an initiative supported through the kindness and generosity of our readers through which we provide subscriptions to Bible Alive, supply books and other Christian resources to prisoners throughout the world. Through the generosity of our readers, we are able to send Bible Alive into prisons in the UK, Ireland, Scotland, Europe and overseas. We are able to reach many prisoners, some who are on Death Row, with a lifeline – not all of us can visit prisoners but through International Prison Outreach we show them a practical sign of our love and care for them.
## **International Faith Outreach:**
International Faith Outreach is an initiative reaching out to missionaries, priests, religious, catechists and parishioners who simply don’t have the money to receive the kind of resources which we take for granted, such as, a subscription to Bible Alive, a Bible, and a whole plethora of other books and resources on many aspects of living a Christian/Catholic Faith. A donation to International Faith Outreach allows us to send faith resources to Countries around the world where these things are in short supply and are in great demand. A donation to International Faith Outreach is an expression of our solidarity, communion and love for our brothers and sisters.
## **Cheerful Giver Fund:**
Our experience over the years is that there is a great need to support and help a further cross section of society who, for financial reasons, are unable to receive the blessing of a subscription to Bible Alive or the benefit of other Christian resources. We receive many letters from people who simply can no longer afford to receive the magazines and books we publish. People such as: The Widowed, The Unemployed, University Students, Seminarians, Asylum Seekers, Armed Services, Migrant Workers, Relatives of Prisoners, Low Income Families, and The Recently Redundant. It is only through the kindness and generosity of our readers that we can reach out to others. People are so grateful to receive a gift of a Bible Alive subscription or a book or a resource.
## **20 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**Incoming**|**Resources**|**At**|**31 March**|
|---|---|---|---|---|---|
||**2024**|**resources**|**expended**||**2025**|
||**£**|**£**|**£**||**£**|
|General funds|177,121|571,545|(864,769)||(116,103)|
|**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**At**|**31 March**|
||**2023**|**resources**|**expended**||**2024**|
||**£**|**£**|**£**||**£**|
|General funds|89,569|605,533|(517,981)||177,121|
- 25 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **21 Analysis of net assets between funds**
||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**funds**|**funds**||
||**2025**|**2025**|**2025**|
||**£**|**£**|**£**|
|**At 31 March 2025:**||||
|Intangible fixed assets|1,028|-|1,028|
|Tangible assets|1,629|-|1,629|
|Investments|(249,000)|250,000|1,000|
|Current assets/(liabilities)|130,240|(80,088)|50,152|
||(116,103)|169,912|53,809|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**||
||**2024**|**2024**|**2024**|
||**£**|**£**|**£**|
|**At 31 March 2024:**||||
|Intangible fixed assets|1,215|-|1,215|
|Investments|45,000|205,000|250,000|
|Current assets/(liabilities)|130,906|611|131,517|
||177,121|205,611|382,732|
## **22 Related party transactions**
## **Transactions with related parties**
During the year the Charity was charged management fees of £25,000 (2024: £425,417 from its Associate, Alive Publishing Trading UK Ltd. The Charity also received stock with a value of £60,534 from the Alive Publishing Trading UK Ltd during the year. At the balance sheet date the amount due from Alive Publishing Trading UK Ltd was £33,537 (2024: £47,685).
- 26 -
## **ALIVE PUBLISHING LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **23 Associates**
These financial statements are separate charity financial statements for Alive Publishing Trading UK Limited.
Details of the charity's associates at 31 March 2025 are as follows:
||**Name of undertaking**
**Registered**|**Nature of business**|**Class of**|**% Held**|
|---|---|---|---|---|
||**office**||**shares held**|**Direct**|
||Alive Pubishing Trading
England and|
Religious publications|Ordinary||
||UK Limited
Wales|production & distribution|shares|34.00|
|**24**|**Cash generated from operations**||**2025**|**2024**|
||||**£**|**£**|
||(Deficit)/surpus for the year||(328,923)|72,831|
||Adjustments for:||||
||Depreciation and impairment of tangible|fixed assets|249,474|15|
||Movements in working capital:||||
||(Increase) in stocks||(60,534)|-|
||(Increase)/decrease in debtors||(20,906)|70,784|
||Increase/(decrease) in creditors||91,426|(81,616)|
||**Cash (absorbed by)/generated from operations**||(69,463)|62,014|
## **25 Analysis of changes in net funds**
The charity had no material debt during the year.
- 27 -